Our Institute of Chartered Taxation supervised affiliate AzTax specialise in responsive and proactive advice coupled with experts from multiple jurisdictions to help with international and expatriate tax issues.
We are pleased to offer our services in the following areas of taxation:
- Corporate and International Taxation
- Personal and Expatriate Taxation
- Employment Taxes
If you would like to discuss any of these or any other tax services in more detail, please feel free to contact us on [email protected]
Corporate and International Taxation
For many organisations, one of the largest costs suffered in their accounts is the payment of corporation tax to the tax authorities. In the UK, this could be as much as one-quarter of the company's overall profits, which makes management of your tax affairs an often-neglected necessity.
At Fortis Auxilium, we understand and recognise the need for companies to keep on top of the ever-increasing compliance burden, and are therefore able to provide companies with the following services from our team of qualified tax professionals:
- Assistance in dealing with HMRC correspondence on UK and cross-border transactions.
- Providing assistance with preparation of tax disclosures for statutory accounting purposes.
- Manage tax compliance and all tax reporting for worldwide group entities including the enhanced reporting requirements under local country adoption of the OECD BEPS recommendations.
- Prepare and manage Country by Country reporting including master and local files.
- Manage overseas tax payments, including review of proposed payments and ensuring payments are accurately budgeted and tracked.
- Review global operations including residency status and impact on creating permanent establishment in various jurisdictions.
- Provision of qualified short or long-term resources to assist with tax projects or any other tax filing obligations.
- Assistance in using Alphatax or Abacus tax software for preparation and submission of corporation tax returns.
Personal and Expatriate Taxation
As an individual taxpayer you are always looking for certainty with your tax affairs. HMRC does not make it easy to help you ensure you pay the correct tax or maximise your tax saving opportunities.
We help you and non-UK residents with tax for British expats covering all UK tax returns including electronic tax filing in the UK. Matters you will come across include the Statutory Residence Test, tax refunds for people leaving U.K, tax equalisation and the impact of the 183 day and 91-day rules on UK residency definitions.
Other issues include remittances, personal allowances and day counting, 45% tax rates and landlord rental property letting and sales.
Opportunities arise to restructure your arrangements that will help provide you with certainty or minimise your overall tax burden and possibly claiming tax back.
Employees are usually the most valuable yet most expensive part of any business. Many businesses underestimate the importance of a structured remuneration policy that properly balances fixed and variable pay. A co-ordinated policy can greatly improve recruitment, retention and motivation without adverse cost implications. Methods used for rewarding present and future employees, or compensating employees leaving the business can be structured tax efficiently to generate significant cost savings.
The area of employment tax has undergone massive change in recent times and continues to be subject to ongoing amendments every year. Simply staying in touch with the current rules for most employers is extremely challenging.
If you are looking for comprehensive guidance or just an independent opinion on all aspects of UK employment taxation (including NIC) then please read on.
The sort of areas which Fortis Auxilium can assist would include:
1. HMRC Investigations
A HMRC review can be incredibly costly not only in financial terms but also in terms of time and overall disruption. At Fortis Auxilium we can not only assist with any ongoing investigations but also undertake a risk assessment of your current tax affairs. You can therefore mitigate this risk by effectively managing your tax affairs from now on. If you want to know what to do or just want to understand your company's current exposure then please give us a call as we would love to help.
2. Employment Status
The enactment of the off-payroll rules in April 2021 has shifted the burden on employers for deducting taxes for workers providing services through intermediaries. A reclassification of a self-employed worker to employee has immense financial implications for your company.
Self-employed consultants are an extremely valuable business resource, giving flexibility and expertise for a reduced cost compared to employment. Manage the compliance risk and your business can benefit from this labour resource with confidence. If you want to reduce your risk or just take the first step in managing this issue then please give us a call.
3. The Construction Industry Scheme
This continues to be an area of great interest for HMRC. If you want to remove the confusion or simply have an alternative, independent opinion on the application of the scheme then please call us as we will be glad to help.
4. Termination Payments
Contrary to popular belief the first £30,000 for all termination payments is not necessarily tax free. Planning the process is therefore essential to ensure that the tax, for both the company and the former employee is mitigated to its fullest Please give us a call at the consultation phase, or earlier, to ensure that the tax free option remains available for the benefit of all concerned, at what can be a difficult time.
5. Expenses and Benefits
Maintaining up to date policies not only ensures that your company and its employee’s benefit from the many tax-deductible provisions currently in place but can also have the effect of reducing your company’s HMRC risk assessment. This in turn reduces the risk of a HMRC employer compliance audit.
As a general policy, we would suggest an annual review of your company’s expense and benefits policy to ensure it accurately reflects the current legislation and HMRC practices. Where your company acquires other businesses or expands into additional offices, especially overseas, then we would suggest a review of the expenses and benefits policy becomes essential. Please give us a call if you want help in this area.
6. PAYE Settlement Agreements (PSA’s), Tax Award Schemes (TAS), and P11D dispensations
These can all help to simplify your company’s compliance burden as well as mitigating its overall HMRC risk assessment. If you want more information on any of these areas then please do give us a call!