Taxation


No one likes paying taxes or paying more tax than is required. At Maynard Heady, not only are we skilled in completing all the necessary returns, but we will provide detailed planning in order to minimise your tax liability. Our staff and partners are proficient in all areas of taxation.

Maynard Heady LLP offers a full inheritance tax planning service with a complete review of estates and current wills.

Corporation Tax

Under Corporation Tax Self Assessment (CTSA), the legal responsibility for correctly calculating the corporation tax liability falls on business owners. We understand the issues facing owner-managed businesses, and can prepare tax returns in a timely and efficient manner. We will also calculate your company’s tax liability and assist with the calculation of any quarterly instalment payments.

The increased reporting obligations, investigation policies on the part of the tax authorities and harsher penalties for non-compliance mean that your time and resources can be taken up with tax administration. We will help to minimise corporate tax exposure and relieve the administrative burden of compliance with current tax legislation.

Personal Tax Planning (Including Sole-traders and Partnerships)

Today, more and more emphasis is being put on taxpayers’ individual responsibilities and everyone who is subject to taxation needs professional advice and support if they are to optimise their tax position and ensure they meet the compliance requirements. Our specialist tax team can provide you with year-round advice on all aspects of personal taxation.

Estate Planning & Trusts

No one likes paying taxes or paying more tax than is required. At Maynard Heady LLP, not only are we skilled in completing all the necessary returns, but we will provide detailed planning in order to minimise your tax liability. Our staff and partners are proficient in all areas of taxation and attend regular training courses to maintain their awareness of the constantly changing legislation.

We provide a discreet comprehensive estate planning service that includes:

  • Help with planning and reviewing a will
  • Making full use of exemptions and lower tax rates on lifetime transfers
  • Optimising lifetime transfers between family members
  • Transferring agricultural or business property
  • Transferring assets into trust
  • Arranging adequate life assurance to cover potential inheritance tax liabilities

We also have expertise in dealing with trusts, which is a relatively easy and very tax efficient way to set aside assets for future beneficiaries outside the inheritance tax net. We can advise on the most suitable type of trust to fulfil your wishes, assist in setting up the trust and provide the full range of accounting services required for trust management.

VAT

Ever changing regulations and the growing demands of HMRC mean VAT compliance can be a difficult administrative process. We can help to ensure that you comply with the regulations and that overpayments are not made. To help you manage this complex area, we provide an efficient, cost-effective VAT service, which includes:

  • Assistance with VAT registration
  • Advice on VAT planning and administration
  • Use of the most appropriate scheme
  • VAT control and reconciliation
  • Help with completing VAT returns
  • Planning to minimise future problems with HMRC
  • Negotiating with HMRC in disputes and representing you at VAT tribunals if necessary

HMRC Investigations

Being the subject of a tax investigation by HMRC can be a stressful and worrying experience. With the onset of personal and corporate self-assessment, HMRC staff can now review cases on a ‘sample basis’. Consequently, tax investigations have become more frequent. We have a wealth of experience in dealing with HMRC investigations, whether they are enquiries into an individual’s Tax Return under the Self Assessment regime, more detailed enquiries or employer-related investigations into PAYE and P11d compliance. If you are about to be the subject of an investigation, we can provide expert help and support.

Professional Fees Associated with Tax Investigation

With the increased risk of such investigations it may be worth considering taking out our annual fee protection service to cover the unexpected professional costs a HMRC investigation will undoubtedly incur. The amount of work will depend upon the complexity of the case but the cost could be substantial.


Require More Information?

If you would like more information or would like to speak to us in person: