Taxation

Typically over 50% of our new clients reduce their personal or corporate tax bill by working with us. Our tax advisers have a wide range of techniques and suggestions to support you and help your business to grow. Here’s how we can help you save money and reduce stress...

Corporate & Business Tax

We can help you minimise your corporation tax payments and relieve you of the administrative burden of complying with tax legislation. We will deal with all business tax matters, including preparing income and/or corporation tax computations and preparing and submitting your partnership tax return or corporation tax self-assessment return.

Value Added Tax

We can advise on all your VAT matters and assist in the compilation of your returns.

Personal Tax

We can help relieve you of the burden by preparing your annual self-assessment tax return. Hallidays are also able to prepare capital gains tax and inheritance tax computations for you and undertake tax planning aimed at minimising your future tax liabilities.

Inheritance Tax Planning

Inheritance tax is now a concern for many individuals with relatively modest estates. We will assist in both reviewing your exposure to inheritance tax and also suggest ways of mitigating this.

Trusts

One of the consequences of inheritance tax planning and wills is that trusts are very often created to both mitigate inheritance tax and/or fulfil the individual's aims and wishes. The Directors of Hallidays can be one of your appointed trustees, if required, giving you peace of mind that your wishes will be carried out.

Wills and Probate

We can assist in putting a new will in place or updating your existing one. We’re also able to help with the executor’s responsibilities through our probate service. We’ll do as much or as little as you require, which will always start with a conversation with our probate expert.

Find out more about Wills and Probate and see how we can help.

Executor’s responsibilities

We can help to prepare inheritance tax forms and ensure inheritance tax is paid. This will mean that we can help to obtain the certificate of probate that allows access to the assets, and to distribute the estate in line with the will.

Lasting Power of Attorney (LPA)

We can assist you in putting a power of attorney in place, so you can have the peace of mind that someone can make the important financial and health decisions for you if ever you become unable to do so. This is something you can put in place at any time, not just when you’re thinking about making a will.

Interaction of Taxes and Strategy

The interaction of the various taxes and real life issues mean that any solution to a problem is likely to cover several different taxes; inheritance tax, capital gains tax, corporation tax, income tax, stamp duty, as well as other issues such as protecting assets. We can provide a sensible overview and suggest a variety of options which will hopefully achieve your objectives.

Company Car Tax Planning

We will gladly carry out a planning exercise each time you consider buying a new vehicle to ensure you are aware of the most appropriate method of finance and the minimisation of tax liabilities.

Could you reduce your capital gains by £100,000?

A couple saved £100,000 in capital gains on their holiday home by following the advice of our tax team. The holiday home was bought in the 1980s for approximately £220,000, but was not their main residence and would generate a significant capital gain when sold due to its current market valuation of £2.5 million. They had already decided to downsize the family home to buy a smaller apartment so Hallidays made effective use of main residence relief. Their new apartment will be tax-free for several years and the sale of their holiday home will have its capital gains tax due reduced by £100,000.

Are you planning for the future success or sale of your business?

Recently we helped one business owner, the main director and shareholder of a digital services business. He was concerned about his retirement negatively impacting financially on the business. This was also a concern to the proposed business successor, his son. Hallidays identified that the creation of a holding company structure was the best way forward. The new company bought out the main director for an amount that was fair to both sides and was sufficient for the seller’s retirement. This secured the future of the business and meant the tension between father and son was reduced.

Does your business pay too much tax?

We approached a sole trader Lawyer with a healthy turnover recommending he incorporate his business. This resulted in a saving of £180,000 by selling his business to the limited company. Only 10% tax was paid and zero National Insurance. By incorporating it was possible to take profits out of the business at a reduced tax rate. He was delighted with the additional benefits incorporation brought including less work stress, ability to pursue personal and family goals, asset protection, and continued tax savings

Changing To Hallidays Is Easy

Step 1

Confirm to your accountant that you want to move to Hallidays

Step 2

Supply Hallidays with your existing accountant’s details

Step 3

Relax. Leave the rest to us!

Success Stories

How our tax advisers helped with Inheritance tax solutions

How our tax advisers supported a start-up to grow

How our tax advisers supported leaving a legacy of a strong business

How our tax advisers supported a Research & Development claim

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