Creative services
tax relief

VAT

Capital Gains

Inheritance Tax

Research and Development

Making Specialist Tax services available to all

Efficient and proactive tax planning helps individuals and businesses take advantage of tax reliefs available to them, helping to maximise income, profitability, free up cash  and aiding in achievement of goals.

Research and Development Tax Credits

As the need for more efficient, environmentally-friendly and intelligent technology and products increases, the UK is quickly becoming a thriving hub for innovative companies across a range of industries.

Often these developments require substantial cost, manpower, specialist knowledge and time - and this is where the R&D Tax Credits Scheme sets out to help limited companies. Although the scheme is available to all sorts of companies not just innovative ones.

By helping companies to recover a percentage of their expenditure on qualifying R&D, the tax credit (real cash)  can be reinvested enabling the continuation  of  growth  and innovation.

However, due to a lack of awareness and misunderstanding, many companies are missing out on the tax credits/cash they are entitled to.

We act for companies in almost every sector and with our specialist R and D service we take away the mystique of making a claim.

Nobody wants to pay too much tax and the philosophy of our tax offering is that while we will help you comply in every way with all of the applicable tax legislation we will also help you arrange your and your company’s affairs in ways to minimise any tax payable and wherever possible free up cash. . We can advise on the full range of:

  • Business Taxes
  • Personal Taxes
  • Inheritance Tax
  • Capital Gains Tax
  • Inheritance Tax

Converting rental property into business for tax purposes - For individuals holding 10 rental properties or more, there may be an opportunity to covert this investment income into trading income (this will allow 100% loan/mortgage interest against the income and has the added benefit of potentially excluding the assets from IHT). If this is of interest to you please contact our team for further information.

Many transactions involve more than one tax – for example, if you gift shares to a family member Capital Gains Tax, Inheritance Tax and Stamp Duty all need to be considered.

Land remediation relief (LRR) provides valuable tax relief where costs are incurred cleaning up land acquired in a contaminated state. The relief is available to limited companies.

Qualifying activities include the remediation of land, removal of asbestos, treatment of harmful organisms such as Japanese Knotweed, and other contaminants.

In some cases, the removal of buried structures, foundations and redundant utility services also qualify.

The relief is available on a wide range of developments and projects and any company that may benefit should seek expert advice. Aspen Waite has numerous years' experience within this field and can advise you every step of the way.  

Patent Box was introduced as part of a range of schemes to encourage innovative limited companies to keep their intellectual property (IP) in the UK.

Patent Box offers a generous rate of 10% corporation tax either to products that included patented elements or to companies that sold patented products under an exclusive licence.

As a result, in July 2016, the scheme was reformed, however, the calculation of qualifying profits is complex and requires a forward-thinking approach to accounting.

Aspen Waite advises on IP issues and making appropriate use of both R&D Tax Credits and Patent Box to maximise the benefit to your company.

HMRC offers Corporation Tax relief incentives within the creative industries. Qualifying costs can be enhanced to reduce your corporation tax liability, and in some circumstances, may even get you a re-payment. Some but not all of the tax relief you can claim falls into the below sectors.

  • Animation
  • Children’s Television
  • Film
  • High-end television
  • Museums and Galleries Exhibitions
  • Orchestra
  • Theatre
  • Video games

Inheritance Tax (IHT) is the tax paid during lifetime (on gifts) as well as on your estate before it is passed to your beneficiaries. Careful planning can reduce the tax paid, allowing you to keep wealth in your family.

At a rate of 40% tax, it’s not surprising that IHT is an unpopular tax. We work hard, invest for our futures and build businesses. We pay income tax (on our salaries and investment income), pay capital gains tax when we sell assets. And then, we pay IHT on the wealth that we have generated, intending to pass this onto our children.

We are concerned about all aspects of succession planning, not only that you maximise the amount retained by your loved ones, but also ensuring a smooth transition of your business.

By being proactive there are simple ways and means of reducing your inheritance tax charge. Contact us today to see how you can reduce your IHT exposure.

We save your time and money whilst ensuring your business is compliant with HMRC.

We understand a lot is involved in running a successful business and keeping on top of VAT Returns is an extra burden.

We offer an extensive VAT service, covering all aspects from registering your business, completing and submitting your VAT Returns. Let us do the hard work for you, ensuring you stay compliant and claim back input VAT on all possible payments.

We can also advise on the VAT implications of buying a business property.

Talk to us about overseas investment, company structuring and tax planning.

Aspen Waite advises on multi-jurisdictional and cross border transactions, overseas investment, residency and domicile matters, offshore trusts, anti-avoidance tax legislation, international structuring and tax planning.

Our expertise in taxation extends to international tax planning and compliance.

Our philosophy of developing client relationships based on trust and mutual respect will always provide the reassurance that someone is really on your side.

Our tax experts fully understand the complexities of the tax system and know what the investigators are looking for. They also understand the stress and disruption a tax investigation can cause and work to make the process as straightforward as possible. Keeping our clients up to date on progress - advising clients at all times of both theirs and HMRC’s position during the investigation.

We support our clients at HMRC meetings either alongside the client or representing them on their behalf, drafting responses to HMRC and advising on the level of tax and penalties that may be charged.

At all times the best interests of the client are put first in deciding how an investigation should be dealt with.  We cover investigations from a relatively simple Tax Return or PAYE Compliance check by a local tax office, up to a full Code of Practice 9 disclosure report required by an HMRC Fraud office where more serious tax irregularities have been suggested.

Making Tax Digital

Making Tax Digital (MTD) is part of the government's plan to make it easier for businesses to stay on top of their day-to-day accounts, improving efficiency, accuracy and ease of compliance.

MTD is the beginning of the end for paper-based accounting for millions of business owners and the self-employed.

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New industries.
New challenges.

Every industry and business
has their part to play.

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We strive to help our clients to achieve their goals, always offering the best advice and support, whatever the challenge. We are real friends, vowing to stand by our clients when they need it most and recognise our responsibility to the world, inspiring others to do the same.

We try to fully understand the clients business and empathise fully with the challenges faced.

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