Corporate tax planning

Corporate tax represents a substantial part of a business's trading costs. In addition the increased reporting obligation, robust investigations policies on the part of the tax authorities, and harsher penalties for non-compliance mean that an undue amount of a business's time and resources can be taken up in collecting revenue for the Government. 

Efficient corporate tax planning can improve your organisation's profitability. Woolford & Co. offers a range of services to help you minimise your corporate tax exposure and relieve you of the administrative burden of complying with tax legislation. These include:

• Determining the most tax effective structure for your business
• Taking full advantage of tax opportunities and reliefs
• Achieving the optimum capital revenue tax treatment
• Reducing tax on disposals and maximising relief on acquisitions
• Making the most of tax opportunities specific to your industry
• Meeting the rigorous demands of compliance, including corporation tax self assessment
• Acting on your behalf in discussion with the tax authorities

No matter how efficient the dealing with tax returns and self assessment, and how non-contentious the treatment of all income and expenses, every business is still potentially subject to an enquiry. Many self assessment returns are enquired into by HM Revenue & Customs because it does not understand or is suspicious of some of the information in the return.  However, an equal number are selected at random. This means that every self assessment return could be called for an enquiry and once the enquiry starts there is little control over how long HM Revenue & Customs will continue the enquiry and the amount of information it will need from the tax adviser. 

For this reason that we offer all our clients a fee protection insurance scheme.  For a relatively small premium our clients can protect themselves from the professional costs of dealing with an HM Revenue & Customs enquiry. 

Woolford & Co. has been offering this service to clients for a number of years, and we find that the majority feel that it is worth protecting themselves by taking out the fee protection insurance. 

Contact: Peter Wilman