Taxation advisory
It has
always been said that there are two "things" that each and everyone of us cannot
avoid i.e. death and taxes! (a) Tax returns
Every business needs to file tax returns each year.
At McMillan
Woods, we ensure that our clients are aware of all pertinent deadlines. Our tax
return services covering company, personal, trust and estate schemes
remove the inconvenience and risk of filing tax returns incorrectly.
What's more, we remind our clients of pertinent and applicable due dates
in each relevant tax year and of potential tax liabilities well ahead of
time. (b) Value Added Tax (VAT) / Goods
Services Tax (GST)The penalties for falling foul of Customs
are severe. Our tax department offers guidance in unfamiliar areas such as VAT &
GST registration, VAT & GST returns etc. At McMillan
Woods, we offer a full range of services to cover every situation business
entrepreneurs may encounter. We ensure our clients explore all planning
opportunities whilst meeting legal obligations. (c) Tax planning
servicesEveryone feels they are paying too much tax,
usually because they are paying too much tax! This is often true. Tax planning is an
excellent opportunity to increase the bottom line of a business. In no other
area can good advice and planning save so much of our hard-earned money. Because
we work so closely with our clients, we identify many opportunities to save
money through astute tax planning whilst complying with the tax legislation at
all times. Our services cover all taxes that affect business
entrepreneurs, bearing in mind that tax is a "business" cost. Our goal is to
minimise their tax liabilities. Working together with our tax advisors within
the network, our partners develop a clear tax planning strategy for all our
personal and corporate clients. (d) Income tax
Under the Self-Assessment System regime, individuals are
responsible for their own tax returns. As well as ensuring that our clients
comply with the tax rules and legislation, we provide our clients with sound
planning advice to help them hold on to the rewards of their hard earned money.
(e) Real property gain tax (RPGT)
Any change in
circumstances that necessitates the disposal of assets can cause exposure to
RPGT. However, proper planning can greatly reduce this tax liability.
(f) Stamp dutyThis is one area of tax that is
easily overlooked and we can assist our clients to avoid any nasty surprises,
which are often nasty surprises. (g) Corporate tax
Our
comprehensive tax planning services cover all stages of a company's life cycle.
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