You might represent a quoted international group or an owner managed business. Your corporate tax needs will range from routine annual compliance to specialist advice to plan and support your business strategies and transactions varying according to your particular sector and business circumstances.
There will be immediate tactical decisions and complicated strategic considerations, anticipating the eventual impact of taxation on transaction costs and investment decisions.
To retain control, it's crucial you have the information that allows you to identify issues in good time and the expert advice that will enable you to factor-in practical measures.
Baker Tilly can help you plan a tax-efficient approach to every aspect of your business, one that sees the whole picture and works with you to protect the interests of your stakeholders.
We look after the interests of corporate entities at every stage of their life- cycle:
- expansion and investment
- acquisitions and disposals
- raising finance/capital markets
- succession planning.
We cover all matters related to the compliance, transaction support and planning issues in your sector. Our tax teams have extensive experience in handling all types of communications and negotiations with HM Revenue and Customs (HMRC).
HMRC expect you to get your tax right in an environment of complexity, buttressed by a risk-based tax enquiry approach and a penalty regime should you get it wrong. For larger corporates, whether owner managed or part of UK or international groups HMRC require increased visibility into your financial controls which impact on your tax risk and can involve a Client Relationship Manager who has stewardship over your interactions with HMRC on all tax issues.
Our corporate tax compliance service includes:
- Proven approaches and processes for gathering tax data and meeting your financial reporting obligations as regards tax, whether you are an audit client or not.
- Preparation and submission of tax computations using the latest software capable of meeting the impending online filing requirements.
- Advising on specialist areas such as R&D tax credits, capital allowances on buildings and submitting relevant claims on your behalf.
- Agreement of your returns and tax liabilities with HMRC and managing the interface with HMRC on a day to day basis or where you have a formal tax enquiry.
- Using the expertise of the firm to quickly resolve HMRC enquiries whether by negotiation using our tax enquiry specialists or technical resource such as our international tax and transfer pricing specialists or technical accounting colleagues.
Whether an owner managed business or a large group of companies with an international footprint, Baker Tilly can devise a tax compliance service to suit your needs; a process designed around accessible people and leading edge technology to ease the ever increasing burden on your business.
International tax issues can arise for:
- UK businesses setting up or expanding overseas
- Overseas businesses establishing a presence in the UK.
Each jurisdiction has its own tax rules and these will interact with UK rules in different ways. Through our international network, Baker Tilly has the knowledge, experience and geographical coverage to provide you with up to date and relevant advice in every territory you are likely to do business in.
After gaining an understanding of your business and aims for expanding into new markets, Baker Tilly will be in a position to develop a tax structure that:
- is appropriate to your needs (with particular regard to added complexity versus benefit); and
- minimises the group's overall tax liability.
In addition, we are well versed in managing the increased compliance burden that result from overseas expansion.
All foreign companies that are UK controlled are now within the Controlled Foreign Company (CFC) regime.
- Corporation Tax – a curate’s egg
Summer Budget announces unexpected reductions in corporation tax rates, bringing the rate down to 18% by 2020.
- Employers compensate for welfare cuts
Employers may have to use their corporation tax savings to compensate employees for Government welfare cuts and other policy decisions.
- Massive change on business acquisitions
In a Budget full of surprises perhaps the biggest shock for corporate taxpayers was the immediate withdrawal of tax relief on acquisitions of goodwill and other intangibles.
- Fewer tax advantages for dividends?
The Chancellor has announced a major reform to dividend taxation which will have owners of small and medium sized businesses up in arms.
- “Tax evasion, avoidance, planning and imbalances”
Chancellor expands crackdown on those who side-step their tax obligations by grouping “planning” and “imbalances” to “evasion” and “avoidance” – what happens next?
- Rapid growth going international
In the first of a series of articles we look at tax issues for high growth companies expanding into new territories.
- Missing out on unclaimed employee expenses?
Businesses that are able to deduct VAT on trading expenses all too often don’t reclaim VAT incurred on employee expenses, thereby reducing profits and leaving cash on the table.
- FRS102 and tax surprises
Businesses are already seeing that FRS102 adoption does have a number of tax surprises. Ignore these at your peril!
- HMRC estimates tax gap hits £34 billion
Recent media coverage highlighted tax avoidance as being the prime driver of the ‘tax gap’. But there are many other reasons as to why HMRC fails to collect tax…
- Scotland vote ‘no’ but Scottish tax regime will still change
Even though Scotland has voted against independence, we can expect further devolved tax powers to be given to the Scottish Government.
- Trading or not? Find out!
Trading companies generally access the most generous tax reliefs, but do you know whether your company or group is ‘trading’?
- Annual property tax – more properties affected but less admin?
With the ATED valuation bands decreasing to £500,000 from April 2016, 36,000 more properties will be exposed to the regime.
- ‘Wholly and exclusively’ not easily
It is one of the oldest rules around, but the ‘wholly and exclusively’ test for tax deductibility still poses challenges for business taxpayers.