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Tax
Our experts at Banks & Co will help guide you through the world of tax, keeping you up-to-date with all the latest changes and regulations.
Since 1993 Banks & Co we have been providing expert Tax advice to both private and corporate clients..
We offer a range of tax services for businesses and individuals, whether it is tax advisory or tax compliance, making sure your tax affairs are up-to-date.
- Business Taxation: Tax rates, reliefs and regulations are constantly changing, so whether you run a limited company, partnership or self-employed business, we can offer all the necessary assistance and advice you need to ensure you are in compliance and avoid unnecessary fines. We will carefully evaluate and produce accurate business tax computations and returns taking account of all available reliefs and claims. By seeking to keep in regular contact throughout the year, we will be well-placed to advise you on planning opportunities that may arise before the end of each accounting period.
- Personal Taxation and Self Assessment: Our experienced tax team help to demystify the complex world of personal tax through self assessment and tax regulation. They will ensure that you pay the right amount of tax taking in to account all available allowances and deductions. We recognise that self assessment is not just a tax return preparation ‘shop’, but an all year round service to resolve and assist with tax issues as they arise and ensure that payments are made at the correct time. Depending on your tax situation, we can develop a tax planning approach so that you are aware of future tax liabilities and how they can be mitigated in the most tax-effective manner.
- Capital Gains Tax: Whether you own a second property or hold an investment portfolio of several properties or shares, we can advise you on the Capital Gains Tax implications surrounding a planned sale and any claims and reliefs that may be available to you.
- Inheritance Tax: We provide Inheritance Tax advice to many of our private clients in relation to their estates and for succession planning. We can help you plan to ensure that your personal wealth is passed down to your chosen beneficiaries in a tax-efficient manner. We also work with several firms of solicitors to assist trustees and executors of estates with the preparation of Trust and Estate Tax returns and Inheritance Tax forms.
Our staff can make sure you maximise your exemptions while demystifying the complex world of capital gains tax, whether you're considering investments, a second home, or another asset.
Every year, corporation tax rates and reliefs vary, so we make sure we can offer all the necessary assistance and advice when examining potential exemptions, allowances, and deductions. In order to make sure you are in compliance and avoid fines, we will carefully evaluate and produce corporate tax filings.
Whether you're considering investments, a second home, or another item, our staff can make sure you maximise your exemptions while demystifying the complex world of capital gains tax.
We can help walk you through the complicated subject of personal taxation, we are aware that it can be challenging to grasp, therefore we support you every step of the way. By developing a tax planning approach that works for your tax situation and helps ensure you pay the least amount of tax, we eliminate the time and worry involved. Our staff will provide guidance on when payments are due in addition to what paperwork must be submitted and returned in order to maintain compliance.
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HMRC have proposed a new criminal offence for making reckless, untrue statements or declarations about what's known as 'direct taxes' - Income Tax, National Insurance and the like. For Customs and Excise and VAT ('indirect taxes'), it is already possible to prosecute individuals who make untrue statements or submit incorrect documents either knowingly or recklessly, without the need to prove dishonesty. The penalties for such offences can be severe, including substantial fines and imprisonment. The direct tax regime does not currently contain an equivalent offence.
