TAX

 SERVICES FOR BUSINESS

Specialist knowledge

Bespoke solutions

Understanding your business to provide relevant advice

The uncertain economic outlook brought about by Covid-19, Brexit and disruptive global markets, will ensure that your business will need to maintain a strong handle on managing cashflow. You will be aware that one important component of this will be to fully understand how taxation impacts the entity, not just for today but over the medium to long term.You will need to know where you can get this business advice from. Zarkava provides this support, ranging from one off projects such as R&D, capital allowance claims, and full compliance engagements including preparation and submission of tax returns.

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Our focus will be to work with you to understand the business, and develop strategies to manage tax that adds value, not only to the understanding but also to the bottom line. Whilst some tax aspects differ between the entity used for the business, the goals are often aligned, not least in ensuring that tax paid is like any other cost and needs to be managed.

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Opportunities to reduce tax and provide cash injections include claims for Research and development tax credits, capital allowances on expenditure for qualifying plant, I.P reliefs and industry related tax incentives. They will often provide significant increase in cash, often at the time when a business needs the cash the most. Note that some of these reliefs only apply if the entity incurring the cost is a corporate.

Tax loss planning, timely provisioning, and tax efficient reorganisation of businesses are often useful in achieving real cash savings when sectors are experiencing significant headwinds.

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On the other hand, reducing the tax liability of a business is equally important as receiving a tax rebate. History illustrates that at times of tough economic conditions , compliance with the tax authorities often slip, and this is matched by the HMRC being encouraged to collect more revenues to fund public deficits. This often results in additional penalties and interest for failing to comply, often via late filings. We work closely with our clients to achieve compliance in an efficient and cost effective manner, to ensure that the tax liability is not inadvertently increased by penalties, and where possible tax reduced by effective use of available claims.

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Structuring the business has always been important but recent events should warrant a review of the existing strategy. We will be working with clients to challenge if the existing structure is fit for purpose. Exit strategies may need to be reassessed, finance facilities tested, and forecasts re written. Tax will remain a significant factor in this analysis and we will continue to challenge and educate clients in the key tax areas.

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In addition, Zarkava has recently completed the following projects for clients located across the UK including Cardiff, Wimbledon,Reading and Newbury.

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• Providing a full suite of tax compliance to large private Groups, including full tax accounting packs for UK audits undertaken by big 4.

• Large property development projects, including sale of housing, roll-over claims and SDLT relief.

• VAT – for example, opt to tax, Group registration, Brexit related matters.

• Provided tax support to clients with:

  • with demerger of major division,

  • Acquisition/Sale of new business

  • Employee share scheme - EMI

  • Capital reduction/other forms of corporate reorganisation

  • EIS strategies – allowing new investors to obtain tax relief

  • International tax matters – cross-border acquisitions, transfer pricing

 

Summary

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Zarkava continues to provide tax support to a diverse group of businesses. It provides bespoke solutions in a proactive timely manner, using technology to ensure that compliance is both efficient and cost effective, and helps clients gain full understanding of the key points to enable them to make informed commercial decisions.