EXCLUSIVE TAX & VAT CONSULTANCY

Transcription

1 EXCLUSIVE TAX & VAT CONSULTANCY

2 Relax. Our expert CONSULTANTS are here to help you, your Practice and your clients with Enquiries, Written Advice, IR35, Capital Allowances and R&D, plus much more. Running IN ADDITION to our Advice Lines, our Consultancy service is on hand to provide you with specialist advice if you find yourself dealing with a particularly challenging matter. Not everyone has the luxury of THEIR OWN CONSULTANCY DEPARTMENT on tap but you do. As a Croner Taxwise client you have access to a wide range of consultancy services without the disadvantage of everyday running costs. Consider us as your very own Tax and VAT Consultancy team. CONTENTS 04 HMRC ENQUIRIES AND DISPUTES TAX / VAT / EMPLOYER COMPLIANCE 08 WRITTEN TAX & VAT CONSULTANCY 12 IR35 CRONER TAXWISE CONSULTANCY consists of over 35 highly skilled consultants who are experienced in dealing with a wide variety of tax and VAT matters. With Croner Taxwise you have a specialist consultant assigned to you to meet your needs, making sure you always stay in control. We leave it up to you to decide on the role you want us to play, whether that s confronting HMRC face to face or offering technical advice before you have even submitted a tax return. 16 CAPITAL ALLOWANCE REVIEW SERVICE 20 RESEARCH & DEVELOPMENT SERVICE 02/ 03

3 In a busy Practice HMRC investigations can quickly escalate into time consuming and stressful affairs. What s more, disputes can put a real strain on client relationships. They can even result in the loss of valued clients. 04/ 05 ENQUIRIES TAX & VAT INVESTIGATIONS Not every Accountant wants, or has the experience, to deal with every type of investigation. But we do! We can provide dedicated, specialist support in this area enabling you to get on with other, billable work while having the peace of mind that your client s case is being handled by highly experienced investigation specialists. Our skilled consultants have a proven track record of success in dealing with HMRC and they understand how important the relationship between an Accountant and their client is.

4 FULL ENQUIRY Our consultants assist you as much or little as you require. Whether it s just re-wording a letter to HMRC or providing comprehensive support on the entire Enquiry, we ll give you the expertise that suits your needs. ASPECT ENQUIRIES These vary from minor fact-finding to complex technical issues. Our consultants will help you to get the best result. And THE GREAT NEWS is, whether it s a Full or Aspect Enquiry, employer compliance or VAT compliance check if you have a Fee Protection scheme with us, all the fees for our consultancy work are covered up to the limits of your Policy. As long as the claim is accepted we recoup our fees under the insurance. If you are not a Fee Protection client, we can still work with you, charging a preferential hourly rate. All of our consultants are ex-hmrc officers or qualified tax specialists. Our VAT team has extensive experience of all aspects of VAT disputes. We are expertly placed to advise on disputes and to represent your clients in litigation with HMRC. We can represent clients in tax tribunals and where necessary, we engage with expert tax barristers for more complex disputes. We also deal with many types of complicated matters on a written consultancy basis including land and property and partial exemption. We have considerable experience of working on EMPLOYER COMPLIANCE disputes with HMRC. Whether it s telephone advice or full representation leading to tribunal, we ll help you to defend your client. Dealing with COP9 and Criminal Taxes Unit cases is unfamiliar territory for many Accountants. With complicated processes and language these investigations can quickly become time consuming and stressful. Our team has extensive experience in helping clients who are subject to investigation under fraud procedures like COP9. We provide full support and expertise including preparing disclosure reports and negotiating settlement of the Enquiry. 06/ 07 CRONER TAXWISE CONSULTANCY

5 Croner Taxwise Consultancy is designed to help support and PROTECT Accountants and their clients during periods of intense change and potential stress. WRITTEN ADVICE TAX & VAT CONSULTANCY With changing legislation and the rise in tax investigations by HMRC, our Tax and VAT Consultancy service can provide peace of mind for your clients when they need the best possible advice. 08/ 09

6 Our consultancy service strengthens and protects your client relationships by providing a high level of expertise and helping to mitigate risk. Our Consultancy service enables your Practice to be MORE PRODUCTIVE whilst underpinning the professional advice that you give to your clients and extending your Practice revenue. WORKING ON YOUR BEHALF HOW OUR CONSULTANCY SERVICE CAN HELP Croner Taxwise will prepare IN-DEPTH WRITTEN ADVICE based on the facts that you provide to us. You can pass this documentation directly to your client or embed it with your own advice. This enables you to save time on extensive research and furnishes you with a written record. We fully understand the importance of the relationship between a Practice and its clients, our role is to support and enhance the service that you offer. 10/ 11 Our HIGHLY QUALIFIED TAX AND VAT CONSULTANTS have a wide range of experience and knowledge, having either worked for HMRC or in Practice. The Croner Taxwise Advice Line team offers general advice in all areas of direct and indirect taxes. This year we expect to answer 170,000 calls, providing expertise and support to Accountants throughout the UK.

7 12/ 13 CRONER TAXWISE CONSULTANCY Over 50% of new IR35 investigations are conducted on organisations providing services to the PUBLIC SECTOR with a strong emphasis on Government departments, agencies, the BBC and the NHS. We anticipate this will soon extend to Local Authorities and other areas where tax payers money is held in a contractual chain. CONTRACT REVIEWS Following the introduction of the Managed Service Company legislation, a considerable number of one-man limited companies have ceased to be controlled by service providers. As a result many of these companies find themselves with the possibility of FACING CHALLENGES by HMRC regarding whether or not the intermediaries legislation (commonly known as IR35) applies to its contracts.

8 Our IR35 Contract Review will provide your client with an opinion as to whether or not the legislation applies to them. Their directors can then make a well-informed decision regarding what course of action to take. In addition, an IR35 Review demonstrates to HMRC that as a company, you have taken your TAX OBLIGATIONS seriously and made the effort to determine whether or not IR35 legislation applies. 14/ 15 WHAT S INVOLVED IN A CONTRACT REVIEW? Our specialists will review a copy of the contract along with the working practices and then compile a written report highlighting areas of concern regarding the legislative requirements. HOW MUCH COULD IR35 LEGISLATION COST? Should HMRC win the argument that IR35 applies and the company has not undertaken the deemed salary calculation, the costs could be significant. In a recent case which HMRC won the liability was in excess of 90,000. WHY CHOOSE CRONER TAXWISE? Our specialist consultants who will undertake your review are recognised as being true IR35 experts, each having many years experience. Our team currently has a 100% success rate in defending IR35 cases where we have completed a review and passed the contract as being IR35 compliant. WHAT ABOUT REPRESENTATION? Should HMRC challenge an IR35 status all Croner Taxwise insured clients can appoint us to represent them, with all associated fees being covered by your Policy. We are also able to negotiate with agencies and end-clients to strengthen or amend contracts (separate rates apply). OUR REVIEWS INCLUDE Review of the contractual documents Review of the current working practices Verbal advice and confirmation on whether the engagement is caught by IR35 Written confirmation of the IR35 status

9 PROPERTY EMBEDDED FIXTURES & FEATURES You might not be aware that there are embedded fixtures and features within a commercial property that can be claimed against Capital Allowances. Immoveable items including; lifts, heating systems, security systems, sanitary ware, electrical systems and kitchens can be claimed under CA provided that these items were either inherent within the property at the time of acquisition or could have been installed subsequently. CAPITAL ALLOWANCES The Government strongly encourages companies to use Capital Allowances (CA) to RELIEVE EXPENDITURE when investing in equipment for their businesses. Not only does this incentive provide a legitimate and safe form of tax planning for investors in commercial property but it s also an important lever for economic growth. 16/ 17

10 The Croner Taxwise Capital Allowances Review Service will strengthen your client relationships by achieving tax benefits for clients whilst also GENERATING EXTRA INCOME for your Practice. Even if your Practice currently offers elements of a Capital Allowance Review Service our CA experts can enhance it for you. Our process requires MINIMAL EFFORT FROM YOU or your clients. Our team of tax depreciation experts includes Accountants, Surveyors and Engineers, all of whom will help maximise the claim. We even review your client s property portfolio at no cost to ascertain whether a claim can be made. PLUS: We pay a referral fee to your Practice of UP TO 10% OF THE FEES. HAVE YOUR CLIENTS? Capital Allowances are available to all types of commercial property owners, including; pubs, restaurants, veterinary practices and gyms. The chart below shows just a small selection of SUCCESSFUL CLAIMS that our specialist consultancy team have made over the years. Purchased commercial property either as an owner, an occupier or a landlord? Built a commercial property? Spent money refurbishing a property that they own? Improved a rental property? HOTELS DENTISTS CARE HOMES INDUSTRIAL OFFICES 770, ,559 38% 59, , , ,601 30% 51, , ,000 93,785 34% 18,757 37,514 1,600, ,191 26% 85, , , ,310 60% 99, ,924 18/ 19 Property Costs Capital Allowance Claim Percentage Claimable Tax Savings at 20% Tax Savings at 40%

11 Research & Development Tax Credits are an enhanced Corporation Tax Relief which can be claimed by companies taking risks within SCIENCE & TECHNOLOGY when developing new or improved products, processes or services. RESEARCH & DEVELOPMENT Eligible companies can secure up to a further 130% RELIEF on qualifying P&L expenditure against tax, as well as claiming for the two previous years and then ongoing. On average this can save or recover up to 50,000 for your client s business. 20/ 21 CRONER TAXWISE CONSULTANCY

12 At Croner Taxwise our R&D EXPERTS will review your client files to identify potential clients who are suitable for R&D Tax Credits. We can also review and enhance claims that have already been submitted. We then work with you to help maximise your identified clients claims and TRAIN YOUR STAFF on how to identify future eligible clients. Under normal circumstances, our claims will be processed, and your client will receive the refund from HMRC within SIX TO EIGHT WEEKS. 22/ 23 DO YOUR CLIENTS? Develop their own products, processes or services? Enhance existing products, processes or services? Face uncertainty of advances in science and technology? Stand risk of time and cost for their development work? Our claim was promptly accepted and settled by HMRC, resulting in our client achieving a tax saving of 10k for the year in question.

13 #BETTERTER TOGETHER cronertaxwise.com/consultancy Croner House Wheatfield Way, Hinckley LE10 1YG