Tax planning
Morris Crocker has an experienced and qualified team of tax advisers to provide you with an effective tax planning strategy that fully considers both your business and personal finances.
Our tax planning services include:
• Personal tax planning
• Limited company profit extraction
• Tax efficient remuneration to company directors
• IR35
• IHT Planning & Reduction of Estate
• EIS / VCT Investments
• Capital Allowances
• Research and Development Expenditure
• Pensions
Tax Planning for 2022/23
With the current squeeze on the cost of living and rising inflation it is important to know the key personal taxes and tax changes for 2022/23.
Making Tax Digital (MTD) for Income Tax
From April 2024 self employed traders and landlords with annual gross income of over £10,000 will be required to comply with HMRC's MTD for Income Tax. Under the scheme, all affected individuals will have to store records of their business income and expenses in digital format and report a summary profit report to HMRC once every three months.
See our Making Tax Digital page for more advice and guides on everything you need to know before April 2024.
Cryptocurrency Accounting
There has been a surge in cryptocurrency investment in recent years. This has not gone unnoticed by HMRC who have been gathering lists of investors from various exchanges to ensure all individuals and businesses pay the correct amount of tax on their gains.
It is therefore essential to seek professional advice before making any investment in cryptocurrencies so you understand the tax implications.
We have experience of the unique challenges relating to crypto trading and currency and can provide help with:
• Calculating your taxable gains and losses
• Self assessment reporting to HMRC
• Tax implications of buying and selling cryptocurrencies
• Tax planning to ensure your cryptoassets are properly structured
• Undeclared crypto gains and disclosures
• HMRC tax disputes and investigations
Contact us on 023 9248 4356 to arrange a tax planning consultation with one of our tax advisers.