Get Help with Tax Planning

How our Accountants can help you!

• Business Tax Planning & Advice

  Our tax planning and advice services are designed to help businesses minimise their tax liabilities while maximising their profitability. We provide expert advice on a range of tax planning strategies, including tax-efficient business structures, employee incentives, capital gains tax planning, and inheritance tax planning. Our team of qualified tax professionals stays up-to-date with the latest tax laws and regulations to ensure that your business remains compliant.

• Tax Compliance

  Our tax compliance services ensure that businesses comply with all tax laws and regulations. We assist businesses with the submission of tax returns, VAT returns, and other tax-related documents, to ensure that they meet all deadlines and avoid penalties. Our team of experts will also help you navigate complex tax laws and regulations, minimising the risk of non-compliance.

• Tax Relief

  We understand that businesses are always looking for ways to save money and increase their profitability. That’s why we offer tax relief services to help businesses reduce their tax liabilities and free up cash flow. Our tax relief services are designed to help businesses save money on their tax bills and increase their financial performance. We take the time to understand your business and its unique tax relief needs to develop a customised tax relief plan that works for you.

• Tax Investigations

  In the event of a tax investigation by HM Revenue & Customs, we provide support and guidance to help businesses deal with the investigation smoothly and effectively. We can help you respond to information requests, negotiate with HMRC, and provide expert advice on minimising any potential penalties.

• Tax-efficient Business Structures

  Our tax-efficient business structures service helps businesses structure their operations in the most tax-efficient manner possible. We assist businesses in choosing the best legal structure for their needs, such as limited companies, partnerships, and sole traders. We also provide advice on issues such as corporate reorganisations, share buybacks, and share capital reductions.

• International Tax Planning

  Our international tax planning services provide businesses with advice on managing their tax affairs in a global context. We assist businesses in understanding the tax implications of cross-border transactions, transfer pricing, and withholding tax. Our team of experts has experience in managing tax affairs in different countries and can provide you with comprehensive advice on managing your international tax liabilities.

• Making Tax Digital (MTD)

  Making Tax Digital (MTD) is a UK government initiative that requires businesses to keep digital records and submit tax returns online. At MJ Kane & Co Accountants, we understand that complying with MTD can be a daunting task for many businesses. That’s why we offer a comprehensive MTD compliance service to help businesses stay compliant with the new regulations.

  Our MTD compliance service includes the following:

  1. Initial assessment: We carry out an initial assessment of your business to determine its MTD compliance requirements.
  2. Software selection and implementation: We assist businesses in selecting and implementing MTD-compliant accounting software that is best suited to their needs.
  3. Training and support: We provide training and support to help businesses use MTD-compliant accounting software effectively, and ensure that they understand their MTD obligations.
  4. Digital record keeping: We assist businesses in setting up and maintaining digital records in compliance with MTD regulations.
  5. MTD filing: We ensure that businesses submit their tax returns online, in compliance with MTD regulations.
• Business Growth

  MJ Kane can perform a detailed review of your business. The aim of this exercise is to identify areas of strength and weakness in your business. Highlighting areas to push and areas to improve. Helping you make your business stronger and more successful.

• Financial Advice and Planning

  Financial planning is overlooked by many businesses and individuals. Planning ahead can be the best decision to safeguard your finances. MJ Kane work closely with a key industry leader for financial advice and planning for our clients. We work together to help with:

  • Investment Planning
  • Retirement Planning
  • Protection Planning
  • Corporate Services
  • Banking and Mortgages
• Some Ways We Help Clients Save

  We utilise a variety of tax planning strategies to help business become more tax efficient some of these include:

  1. Review company expenses to ensure all allowable deductions are claimed.
  2. Pay dividends instead of salary (up to the NIC threshold) to minimize Income Tax and National Insurance contributions.
  3. Utilise tax-efficient employee benefits such as childcare vouchers or cycle-to-work schemes.
  4. Consider purchasing company cars personally and offsetting against mileage to reduce tax liability.
  5. Write off bad debts to claim Corporation Tax relief.
  6. Structure director loans to avoid tax implications.
  7. Transfer shares to a spouse or civil partner to utilize their personal tax allowances.
  8. Strategically structure the company’s financial year-end to optimize tax planning opportunities.
  9. Maximize capital allowances by utilizing the annual investment allowance (AIA) for capital expenditure on plant and machinery, claiming all available WDA, and considering capital allowances in buildings for non-structural items.
  10. Make pension contributions for directors to reduce their personal tax liability.
  11. Use a Director Loan ISA

  We also look at other areas, such as cash and profit extraction, international structuring, business structuring, share schemes, transaction planning, trust and estate planning, and wealth extraction. By focusing on these areas, we can provide our clients with comprehensive tax planning services that help them save money and achieve their financial goals.

• Our Tax Planning Process
  Understanding your business structure

  Our accountants will conduct a detailed analysis of your business structure to gain a deep understanding of its legal and operational aspects. This includes reviewing the ownership structure, business activities, revenue sources, and expenditures. By doing so, we can identify any areas where you may be overpaying on taxes or not taking advantage of available tax-saving opportunities.

  Review tax compliance history

  We will review your tax compliance history to identify any issues that need to be addressed. This could include past mistakes, late filings, or underpayment of taxes. By reviewing the compliance history, we can determine the root cause of any issues and develop a plan to correct them.

  Identify tax-saving opportunities

  Based on the business structure and tax compliance history, our accountants will identify tax-saving opportunities. This includes taking advantage of available tax incentives and reliefs, optimising capital allowances, and exploring restructuring options to minimise tax liability.

  Develop a tax planning strategy

  Our accountants will develop a comprehensive tax planning strategy that is tailored to the client’s specific needs and objectives. This includes outlining the steps needed to implement the tax-saving opportunities identified in step 3.

  We will also consider any upcoming changes in tax regulations or market conditions that may impact the client’s tax liability.

  Implement the tax plan

  Once the tax planning strategy has been finalised, we will work with you to implement the plan. This includes ensuring that all necessary filings are completed accurately and on time, and that any restructuring or investment decisions are executed effectively.

  Monitor and review the plan

  Our accountants will continuously monitor and review the tax plan to ensure that it remains effective and you are fully compliant with all relevant tax regulations. We will also provide regular updates on changes in tax regulations or market conditions that may impact your  tax liability, and adjust the tax plan accordingly.

• What is Business Tax Planning?

  Tax planning is the process of analysing a business’s financial situation to identify strategies that minimise tax liabilities while maximising profitability.

• Why is Tax Planning Important?

  Tax planning is important because it helps businesses optimize their financial performance by minimizing their tax liabilities. Effective tax planning can help businesses save money and improve their cash flow.

• Who Can Benefit From Tax Planning

  Any business can benefit from tax planning, regardless of its size or industry. Effective tax planning can help businesses of all sizes minimise their tax liabilities and optimise their financial performance.

• What Kind of Tax Planning Services Are Available?

  Tax planning services can include a range of strategies, including tax-efficient business structures, employee incentives, capital gains tax planning, inheritance tax planning, research and development tax relief, and stamp duty land tax planning, among others.

• What's The Difference Between Tax Planning & Tax Compliance?

  Tax planning is the process of identifying strategies to minimise tax liabilities, while tax compliance involves ensuring that a business is following all relevant tax laws and regulations.