Tax

CORPORATE TAX

Our clients can rely on us to help with all aspects of corporation tax and the compliance associated with it – our specialist corporate tax team have a wealth of experience in advising businesses of all sizes, from small owner-managed through to multi-nationals.

We know that businesses change and so does what you want from them.

Our comprehensive advice includes;

• Remuneration and dividend planning
• Reorganisations and reconstructions
• Tax clearances
• Support with management buyouts
• Advising on the use of Employee Ownership Trusts
• Company purchase of own shares
• Share schemes including EMI and growth shares
• Research and development (R&D) tax credits, patent box
• Capital allowances
• Capital gains tax
• SDLT advice
• Tax efficiency for investors, such as Seed Enterprise Investment Scheme (SEIS) and the Enterprise Investment Scheme (EIS)
• Tax compliance
• Tax investigations support and tax disclosures

VAT

Every month hundreds of millions of pounds in VAT move through UK business – and managing this cash is an area which is often overlooked.

Far from being a “simple tax”, VAT is a challenging area with opportunities for even the most straightforward of businesses to maximise cashflow efficiencies and ensure that VAT is being recovered in every instance it can.

Our specialist team also have the expertise and knowledge of working with more complex businesses, where VAT can become a real cost, such as:

• Property developers
• Charities
• Financial services

We understand how vital it is to ensure these costs are scrutinised, and all available reliefs are utilised.

Take advantage of our fixed fee VAT Health checks which can help ensure that:

• Your VAT processes are compliant with current VAT laws;
• Help show that you take “reasonable care”; removing any errors from the penalty regime; or
• Any errors are quantified and disclosed to HMRC before they have the opportunity to uncover it, providing the opportunity to reduce any penalty to nil

We have significant expertise in the day-to-day management of VAT across a wide range of industries, we can also help navigate the pitfalls of those less routine areas and help you plan for the best outcomes during:

• Acquisition, restructuring or disposal of businesses;
• Acquisition, sale and development of land and buildings; and
• EU and international VAT transactions.

By getting in touch with our team of experts, before any issues arise, we can help you avoid the pain of VAT errors, HMRC enquiries and potential penalties.

But, when things do go wrong, our experienced team can step in with practical solutions and support tailored to your individual needs.

This includes;

• Communicating with HMRC
• Ensuring any errors are quantified and assessments made in accordance with the law and within HMRC powers; and
• Mitigating penalties as far as possible

PARTNERSHIP TAX

The expertise and experience of our professional practices team has grown to support an ever-increasing number of law firms and a range of other professionals.

We provide a full range of advisory and compliance tax services to meet the needs of your firm, from the partners/members of LLPs through to the partnership and LLP accounts and tax.

One key aspect of advice is whether the entity you operate from is the best and most appropriate, taking into account (for example) current ownership, future succession plans and the cash needs of the business.

The tax and regulatory climate for partnerships is ever changing, and its vital to ensure you keep up to date with changes.

We have assisted many businesses with a fundamental change in operating entity, incorporation is still advantageous for many, but it has to be assessed on a case by case basis.

In summary, some of the services we can provide include;

• Incorporations, to LLP or Ltd company
• Partnership changes, appointments and retirements
• Acquisitions and mergers
• International matters
• Accounts and tax compliance

INTERNATIONAL TAX

Whether you’re involved in a one-off overseas project, buying a holiday home, trading with other countries or you have foreign parent companies or subsidiaries to consider, our team of tax specialists, and international connections are here to support you.

It will also help you accurately factor overseas tax and compliance costs in your tender pricing and budgets, so you can achieve your anticipated commercial results without finding profits are eroded by unforeseen tax surprises.

Finally, to ensure your business and your employees meet all tax compliance requirements, you’ll need to be aware of the tax reporting and payment rules of the foreign countries, where you operate, including corporate tax, VAT and payroll taxes and social security.

FOCUS ON YOUR BUSINESS, NOT YOUR TAX

Complying with corporate tax rules shouldn’t rob you of the time you need to grow your business. So, leave your tax concerns to our expert team, we can assist you with:

• Entrepreneurial Tax Advice: Eager to encourage investment in innovative new businesses, HMRC offers generous tax benefits to entrepreneurs. Our advice will ensure you take full advantage of these opportunities and help you structure for success.
• Customs Duty: Customs duty is a tax that is largely overlooked by businesses yet it directly impacts profitability. With our advice, you can ensure the costs are kept to a minimum whilst complying with all aspects of customs duty law.
• R&D Tax Relief and Patent Box: Created to encourage UK companies to innovate and capitalise on their IP, R&D and Patent Box tax relief can be highly beneficial but complicated to claim. Our experience makes the process simpler and the tax benefits worthwhile.
• Capital Allowances: Capital Allowances are one of the most valuable UK tax reliefs, but many businesses miss out because of the perceived complexity. Our specialist team can assist in identifying qualifying expenditure and maximising the tax reliefs available.
• Tax Investigations: HMRC’s powers allow them to investigate the tax affairs of any individual or business. We understand this can be difficult and distressing, but we’ll support you throughout an enquiry, working hard to minimise any penalties.
• Private Clients: You’re in good company as a Sagars private client – a diverse bunch including employed professionals, business owners, families, international sports stars, and members of the Times Rich List. But, as Sagars clients, they are all assured absolute confidentiality and share a common desire to maximise and protect their personal wealth.

USEFUL RESOURCES

Details of the 2023-24 tax rates, changes and other useful information can be found in the downloads below. Our Tax Facts document provides the full detail of the changes for the 2023/24 tax year, whilst the Tax Rates download provides handy tables and notes as a snapshot guide to 2023/24.