Some people choose to specialise in Tax for others it just seems to happen. Once you are in the world of Tax an employer can’t, like us, really stand out from the crowd because let’s face it, tax is tax. What we can do though is share what it will be like for you to work and join our team here at Your Tax Partners.
Before we start, let’s explain who Your Tax Partners are.
Your Tax Partners are part of the Mark Holt & Co Group. We work alongside Mark Holt & Co (Chartered Accountants), Healium (Business development and growth projects), Your Finance People (Management Accounts) and Mark Holt & Co Wealth Management (Independent Financial Advisors). As you can see the Mark Holt & Co Group offers a wide range of services and expertise through five specialist divisions. The key difference with us is that we work as one team across the Group, to provide big firm expertise, but with the local firm care and attention to our clients.
So let’s begin…
Clients know they have to pay tax but want to ensure they pay the correct amount – which should be the least amount of tax possible within the law.
Our job is to steer clients through the maze of complex regulations so that they stay on the right side of the line, but knowing they have someone on their side looking for the opportunities.
Most advisors will simply report information after the event by putting the right numbers in the right boxes and tell clients what they have to pay – they may take a view that a client should pay the maximum amount of tax possible.
We add the most value by being holistic advisors who are in regular contact with our clients. All advice is tailored to each client’s unique circumstances, and there is 100% transparency on benefits, risks and costs, so they are able to make an informed decision.
Here’s a glance at the type of work and projects you will get involved in.
Compliance examples:
- Income extraction planning for one of our clients
- Meet with client manager for briefing and crunch numbers to calculate their potential tax exposure and savings which can be achieved.
- Prepare a remuneration planning report which sets out different ways to remove value from a company to include use of home as office, benefits in kind and pension contributions.
- Tax return
- Meet with a client, who owns 20 rental properties within a partnership. Go through any queries on repairs versus capital expenditure their rental accounts to complete their tax return. You have in mind the potential to save tax by incorporating their business. You discuss this thought with the team on your return to the office before sharing the option with client.
- Other examples include:
- CT600 filing
- Tax Return preparation
- ERS Forms
- P11D
- Income extraction policies
- Corporation Tax reviews
Advisory projects examples, in which you play a small or large part depending on your experience and chosen career path:
- Incorporation project
- Meet with the client, understand their current position and their objectives
- Briefing meeting with the team, research and start planning approach. Explore opportunities for the client, keeping their aims as the focus of everything we do. No client or approach is the same.
- Give the client options. Discuss the pros and cons of each approach. Agree and plan a way forward.
- Work with other team members to achieve the best result. Utilise all the different skills and experience of the team.
- Deliver the project!
- Support the client following completion of the project.
- SDLT
- A potential new client calls who is buying a new property, and want to ensure that they are paying the correct amount of SDLT.
- You work with colleagues to review the plans and identify that we can save them £46k tax using HMRC reliefs.
- Work with the client and their solicitors to ensure the right amount of tax is declared and paid to HMRC.
- R&D
- Meet with a client on site to see if they can claim R&D tax relief. You discuss their business and projects undertaken in the past two years. You have a tour of their business and go for lunch, a nice and tasty meeting! When you return to the office you write up your notes and contact the client with your proposal plan. The client agrees and you start to work.
- Crunch the numbers to identify the tax relief available, make the submission to HMRC and secure that tax relief!
- Demerger
- You work with the client manager and senior for the client on a plan including the application to demerge a complex group company into two separate entities in the most tax efficient way.
- This is a complex area with multiple moving parts and various tax implications. You work with the Tax Director to research the different demerger options available, identifying the most suitable process for the client.
- You help present the plan to the client, and agree a plan, before delivering the project.
Sound of interest? Get in touch.