We can review commercial and tax implications of how your business is structured.
Should it be run as a partnership or as a company? How should other business property be owned? Is your business exit strategy based on selling to a third party? Do you hope to pass a business to a younger generation? You may want to review tax efficiency of residential buy to lets, or commercial property. Tax advice in advance can help in all these scenarios and more.
The synergy created by Ward Goodman’s combination of Wealth Management and Tax planning is particularly relevant for your Estate planning needs.
Services We Offer
We offer a complete range of tax compliance services and in conjunction with this service we can provide crossover tax advice for situations impacting on the private and commercial aspects of tax..
Exit planning: Selling your business
We advise corporate groups on tax efficient sales of subsidiaries, and other group transactions.
If you hope to sell all your shares in a personal trading business, our valuation service will help you understand how much the shares are worth.
Succession planning for your family business
Inheritance Tax (IHT) planning is essential if you intend to pass your business to younger generations. The most important IHT reliefs are Business Property Relief (BPR) and Agricultural Property Relief (APR). A review of commercial property assets can check if these reliefs are available for you.
Tax Arrears disclosure
A surprising number of new clients come to us with tax arrears to sort out. These may relate to undeclared UK or overseas rental income, onshore or offshore trust issues, or undisclosed trading profits. Others are simply unaware that foreign income has to be reported both in the country of residence and where the income arises.
Stamp Duty Land Tax
Are you buying residential or commercial property, or advising clients who are making property transactions? Learn more about how we can help you.
Tax planning for Entrepreneurs
As your business grows you may decide to implement share schemes for key employees, or consider raising finance through the Enterprise Investment scheme.
Inheritance Tax (IHT) & Trusts
IHT is mainly charged on death. Your total wealth plus all gifts made in the previous seven years is taxable. This total is reduced by a nil rate band (NRB). If your spouse has predeceased you may have their NRB as well. Depending on the size of your estate, and the terms of your will, your estate may also benefit from an extra residence nil rate band.
Capital Gains Tax
Capital gains tax (CGT) is a tax on the increase in the value of your assets over the time that you have owned them including properties that you rent out, antiques or shares but you don’t have to pay CGT if you sell a car, or if you make a profit on selling the home you live in.
Come and talk before you sell or give away assets. Effective tax planning steps need to be considered before you sell.
Dealing with HM Enquiries
We handle all enquiries by HM Revenue & Customs into our clients’ tax affairs and provide a comprehensive service.
“The service Ward Goodman offer is personalised and relevant to our business.”
Mark Nash : Mploy Staffing Solutions.
The additional savings made from using a tax expert can be considerable. Opportunities exist for saving tax using the legislation but it’s important to engage fully with the adviser so that they can understand all your circumstances.
For businesses, there are many tax planning angles that relate to trading, buildings, other assets and innovation. Many individuals and families can save tax and make more of their finances with the help of an expert particularly when there is inheritance or proceeds from property or business sales involved.