Tax Planning

We have a range of services that fall under Tax Planning keep reading to find out more for each one

Capital Gains Tax

We understand how capital gains tax works and will make capital gains tax much clearer, providing specific advice to help you avoid the pitfalls created by this taxation system which can be confusing to th layman.

As your business grows and its assets grow in value along with it, you might want to sell a company asset for a higher price than you originally paid for it, which can result in your business being taxed on the sale. This includes physical assets such as property, equipment and vehicles, as well as intangible assets such as stocks.

At Rokaid Limited we can guide you through the capital gains tax process, ensuring that you are fully compliant when conducting any sale of company assets. We will also advise on how much capital gains tax you are likely to be charged on a transaction-by-transaction basis, ensuring you remain fully informed at all times.

You can also be rest assured that we will make you aware of any available tax reliefs you can take advantage of so you benefit from them.

Whether you’re a sole trader, part of a partnership or a limited company, we are here to keep you on the right side of capital gains tax. To discuss and understand the implications of capital gains tax on a sale, please to contact us.

Inheritance Tax

Our inheritance tax planning services are tailored around our clients’ requirements. We work closely with you and make sure that any assets you wish to leave behind to your family are properly accounted for. We also advise on how you can take advantage of tax reliefs to minimise the inheritance tax bill — this might include using trust funds, for instance.

Inheritance tax can leave your loved ones financially overburdened, which only worsens the stress during the bereavement process. Our support and strategies help to alleviate this burden as we help you plan ahead so your family has one thing less to stress about.

Corporate Tax Planning

Our job is to be up to date with Corporation Tax regulation so you can always have a safe passage through this minefield. Corporation Tax is ever changing with new rules set up part way through the tax year and others introduced but not taking affect until the next tax year. It means you could quite easily be paying more tax than you should be. We will work closely with you to review all your records and advice where we can set up a more tax efficient structure for you.

At Rokaid Limited, our objectives of corporate tax planning are to implement strategies that potentially reduce your tax liability and improve your profitability. We also keep you compliant, so that you understand when submissions and payments to HM Revenue & Customs are due in order to avoid being fined.

Our corporate tax planning services include:

  • Identifying the most tax effective structure for your business
  • Making you aware of the opportunities and advising you on how to take advantage of available tax reliefs
  • Helping you achieve the best the best capital or revenue tax treatment
  • Reducing your tax exposure on disposals and maximising available reliefs on acquisitions
  • Making use of industry specific tax opportunities
  • Compliance with all tax regulation including Corporation Tax Self- Assessment.

Trusts and Estates Planning & Administration

Trusts are set up to ensure your assets pass on to your stated beneficiaries. They can provide an efficient way of reducing the inheritance tax liability on your estate and prevent unintended beneficiaries from receiving assets, for example in instances of divorce.   

There are several types of Trust, each with different tax treatments. This can be a very complex area that’s why we are here to make the best options known to you by ensuring we have an in depth understanding of your family circumstances and tax profile.

We then recommend the most suitable type of trust for your purposes, including setting it up, filling in all the documentation and providing accounting services.

Our services include:

  • Considering all aspects of your financial situation
  • Arranging administration
  • Implementing tax efficient solutions
  • Advising on types of trusts
  • Advising on all aspects of estate planning

Personal Tax

Whether you are fortunate enough to enjoy substantial wealth or have much more modest assets, you will have one priority in common: you’d prefer not to pay more tax than you have to.

We recognise that many people could benefit from expert advice to identify tax-efficient strategies and solutions to help them make more of their money.

Whether you are a high net worth individual, or one of the millions of people who are required to complete a self-assessment income tax return each year, we are here to offer expert advice on your tax affairs and strategies for minimising your liabilities.

We’ll keep you compliant with the HMRC, while offering tailored tax planning advice based on your individual financial circumstances. As well as completing annual personal tax returns on clients’ behalf, we offer expert advice on issues including capital gains tax, inheritance tax and income tax.

If you are non-domiciled and require advice on your tax obligations, look no further than Rokaid Limited. We will be at hand to work with you to get the best of remittance basis claims and tax-free allowances on Income Tax and Capital Gains Tax.

With our experience in dealing with HM Revenue & Customs (HMRC) enquiries, you can be assured that if at any stage your tax affairs are subject to an HMRC investigation, you’ll be able to get on with your day-to-day life while we liaise with inspectors to bring the investigation to a satisfactory conclusion, including negotiating settlements that minimise claims for tax and penalties.

Enterprise Investment Scheme (EIS)

The Enterprise Investment Scheme (EIS) is a UK government scheme that helps smaller, higher-risk businesses raise finance by offering investors generous tax reliefs.

It provides a tax efficient way to encourage investment into smaller unlisted companies. Where it would be suitable for your circumstances, we will advise you of the best way to take advantage of these reliefs.

As an Investor, you can put in up to £1,000,000 per tax year

Investor receives 30% income tax relief and

Tax free exit after 3 years

Seed Enterprise Investment Scheme (SEIS) Tax Relief

This is an even more generous offshoot of the Enterprise Investment Scheme (EIS). The SEIS aims is to encourage seed investment in early stage companies.

Where it would be suitable for your circumstances, we will advise you of the best way to take advantage of these reliefs.

The maximum total that can be raised for a company is £150,000.

Investor (incl. company Directors) can put in up to a £100,000 per tax year

Investor receives 50% tax relief

Investor receives Capital Gains Tax (CGT) exemption for any gains on the SEIS shares

Tax free exit after 3 years

Research & Development (R&D) Tax Relief

Small or medium-sized enterprise (SME) companies that spend money developing new products, processes or services; or enhancing existing ones, are eligible for R&D tax relief. If you’re spending money on your innovation, you can make an R&D tax credit claim to receive either a cash payment and/or Corporation Tax reduction.

Small or medium-sized enterprise (SME) R&D tax relief allows companies to:

Deduct an extra 130% of their qualifying costs from their yearly profit, as well as the normal 100% deduction, to make a total 230% deduction

Your company can claim a tax credit, if it is loss making, worth up to 14.5% of the surrenderable loss.

With the expertise at Rokaid Limited, we will advice you of your company’s eligibility for this relief and work with you to file a claim if you qualify.

To find out more about how we can help you, please contact us.