Active Tax Management - Tayabali & White

Active Tax Management

There are many aspects to company taxation and tax reliefs, as well as the taxation of business owners on their withdrawal of company profits. Planning is crucial.

Company Tax
Planning

Budget for tax payments and know which reliefs to claim.

Co-ordinating Business
& Personal Tax

Knowing the best way for business-owners to pay themselves.

R&D
Tax Credits

Generous yet under-claimed reliefs for technology and science.

Tax
Reliefs

Take advantage of tax reliefs designed to help businesses.

Entrepreneurs’
Relief

The most important relief for business owners, but it has traps.

Capital Allowances
& Capital Gains Tax

Buying and selling business assets is a complex area.

Company Tax Planning

For many businesses, the annual tax liability is calculated by the company accountant months after the year end. It is the last figure in the accounts, computed from historical trading results. At Tayabali & White, we prefer to take a different approach by forecasting tax liabilities with our clients as they budget for the year ahead.

By knowing your plans in advance we can estimate your future tax bills and plan for the possible use of the many business tax reliefs available, such as Capital Allowances and R&D Tax Credits. This is just one reason why we work with our company clients throughout the year.

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Co-ordinating Business and Personal Tax

All business owners want to know how best to reward themselves financially from their company in the most tax efficient way possible. No two companies are quite the same and each business will require its own tailor-made strategy, which may vary year on year depending on the results of the business, personal cash requirements and the presence of other investors.

In addition, tax rules and tax rates change frequently, which means that any remuneration strategy must be kept under regular review.

As experienced specialist tax advisers to Owner-Managed Businesses we can advise not only on the personal and company tax opportunities open to you, but also practical considerations, such as cash flow requirements, rewarding key employees and family members involved in the business.

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R&D Tax Credits

HMRC's generous R&D Tax Credit regime is designed to help companies, some or all of whose activities make advances in science or technology. What qualifies as R&D is widely drawn and HMRC have said that they feel the relief is under-claimed. Even if you don’t think of yourself as operating in the science or technology sphere it is possible that part of your company’s activities may qualify.

If a claim is successful, profit-making companies can significantly reduce their Corporation Tax liabilities, whereas loss-making companies can obtain a payment from HMRC in return for surrendering losses that would otherwise have been carried forward.

Establishing whether your company qualifies for the R&D Tax Credit regime and then computing and presenting your claim can be very complex. We are very experienced in this area and have never had a claim rejected, in the process saving our clients significant amounts of tax.

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Tax Reliefs

There are dozens of different reliefs available to businesses, usually created to incentivise investment and growth. There are too many to list here, though we have mentioned Capital Allowances and R&D Tax Credits separately. Others that we advise on regularly include the Enterprise Investment Scheme (EIS) and the Seed Enterprise Investment Scheme (SEIS) which offer significant tax savings to investors in small private companies.

Again, the important thing is that by talking regularly to us we can help you identify and claim reliefs that you may not have known about and which may influence your decision-making.

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Entrepreneurs’ Relief

Most business owners and their families are aware of Entrepreneurs' Relief, which offers a 10% Capital Gains Tax rate on gains on the disposal of one’s business. What is less well understood are the many qualifying criteria that go with it and consequently the possible wide scope for its disallowance.

We have been advising clients on Entrepreneurs' Relief since it was introduced in 2008 and we can help you to avoid its pitfalls. As with all areas of tax it is important to plan ahead. Even if your planned exit is many years away, we will work with you now to ensure that you are able to claim this important relief and do not jeopardise your entitlement to it.

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Capital Allowances and Capital Gains Tax

From a new computer to buying and refitting of a factory, the taxation of the purchase and disposal business assets is a very complex and widely misunderstood area. Investing in your business is important and obtaining as much tax relief as possible is critical to funding the costs of expansion and improvement.

However, it is also an area that we know well. We encourage our clients to talk to us in advance of making important expenditure or significant disposals of business assets so that we help to ensure the most tax efficient result is achieved.

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Why us?

Tayabali & White is a long-standing firm of Cambridge accountants and tax advisers. Our ethos has always been to combine strong technical expertise with exceptional client service. This is borne out in our compliance work: our clients do not miss filing deadlines and very few face HMRC enquiries. This is enormously reassuring for our clients.

However, exceptional service is invaluable to clients when it comes to tax planning, for example Capital Gains Tax, Inheritance Tax and Trusts, where practical and personal advice can only really be provided when we understand our clients’ situations intimately well. Our partners take the time to get to know new clients and our long-serving staff provide a familiar environment as we work with clients over the years.

Such an approach cannot be mass-marketed. We enjoy taking on clients who share our ethos and whom we can help with their personal and business tax and accountancy needs over many years.

99% of compliance deadlines met
of compliance
deadlines met
100% success with R&D Tax Credits
success with
R&D tax credits
10.3 years average staff service
average
staff service
100% of tax returns filed on time
of tax returns
filed on time

Become a client

Begin a relationship with our team

Our clients

Our clients do some really interesting things covering a wide range of industry sectors.

These include accommodation, agriculture & agribusiness, biotechnology, construction, consulting, education, engineering, financial services, IT, Journalism, manufacturing, medicine, music, pharmaceuticals, procurement, publishing, real estate, retail, telecommunications, transportation, web services.

Our clients

Testimonial

"Tayabali & White provide a complete accounting service, dealing with my bookkeeping, payroll, management accounts and year end tax work, so that I can focus on running my business. In addition I speak to Imran at least once a month to review the most recent trading results and plans for the future – it is a great way to operate. It is hugely beneficial having a close working relationship with my accountant and I find Imran approachable and friendly."
Chris Cozens Partnership