Taxation advisory

It has always been said that there are two “things” that each and everyone of us cannot avoid i.e. death and taxes!

(a) Tax returns

Every business needs to file tax returns each year.

At McMillan Woods, we ensure that our clients are aware of all pertinent deadlines. Our tax return services covering company, personal, trust and estate schemes remove the inconvenience and risk of filing tax returns incorrectly. What’s more, we remind our clients of pertinent and applicable due dates in each relevant tax year and of potential tax liabilities well ahead of time.

(b) Value Added Tax (VAT) / Goods Services Tax (GST)

The penalties for falling foul of Customs are severe. Our tax department offers guidance in unfamiliar areas such as VAT & GST registration, VAT & GST returns etc.

At McMillan Woods, we offer a full range of services to cover every situation business entrepreneurs may encounter. We ensure our clients explore all planning opportunities whilst meeting legal obligations.

(c) Tax planning services

Everyone feels they are paying too much tax, usually because they are paying too much tax! This is often true.

Tax planning is an excellent opportunity to increase the bottom line of a business. In no other area can good advice and planning save so much of our hard-earned money. Because we work so closely with our clients, we identify many opportunities to save money through astute tax planning whilst complying with the tax legislation at all times.

Our services cover all taxes that affect business entrepreneurs, bearing in mind that tax is a “business” cost. Our goal is to minimise their tax liabilities. Working together with our tax advisors within the network, our partners develop a clear tax planning strategy for all our personal and corporate clients.

(d) Income tax

Under the Self-Assessment System regime, individuals are responsible for their own tax returns. As well as ensuring that our clients comply with the tax rules and legislation, we provide our clients with sound planning advice to help them hold on to the rewards of their hard earned money.

(e) Real property gain tax (RPGT)

Any change in circumstances that necessitates the disposal of assets can cause exposure to RPGT. However, proper planning can greatly reduce this tax liability.

(f) Stamp duty

This is one area of tax that is easily overlooked and we can assist our clients to avoid any nasty surprises, which are often nasty surprises.

(g) Corporate tax

Our comprehensive tax planning services cover all stages of a company’s life cycle.