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Related News

Employees gifts - tax free?

At this time of year some employers may wish to make small gifts to their employees.A tax exemption is available which should give employers...

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Simple Assessment

HMRC have changed the way in which they will assess some taxpayers removing the need for these individuals to complete a Self Assessment Tax...

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Scottish Budget Proposals

On 14 December, the Scottish Budget will set out the Scottish Government’s financial and tax plans.

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Solihull Chamber News Column - 24th August 2017

The Chamber’s Quarterly Business Report (QBR) always highlights some interesting information on what is happening in the business worl...

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Solihull Chamber News Column - 10th august 2017

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An update on Making Tax Digital

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  • Tax Planning

    Tax Planning

    Our experts can discuss the risks and advise on which type of tax planning is best suited for your business and/or personal circumstances.

    Read more >
  • Tax Enquiries

    Tax Enquiries

    Tax investigations are becoming increasingly more sector-targeted as GPs, barristers and plumbers have recently discovered.

    Read more >
  • Self Assessment

    Self Assessment

    With fines for late submissions or an enquiry caused by understatements of tax due, contact our experts at Prime to help you through the self assessment process.

    Read more >
  • Trust Planning

    Trust Planning

    How can you ensure that your assets will reach your children, grandchildren and other relatives rather than ending up in the wrong hands?

    Read more >
  • National Insurance

    National Insurance

    National Insurance Contributions build up your entitlement to specific benefits such as the State Pension and the amount you pay depends upon how much you earn.

    Read more >
  • Value Added Tax

    Value Added Tax

    Value Added Tax is one of the most complex and onerous tax regimes imposed on business - so complex that many businesses inadvertently overpay or underpay VAT.

    Read more >
  • Inheritance Tax

    Inheritance Tax

    At Prime Chartered Accountants we can provide expert planning advice on the mitigation of potential inheritance tax liabilities.

    Read more >
  • Capital Gains Tax

    Capital Gains Tax

    Careful planning of capital asset disposals to utilise your annual personal CGT allowance is essential to minimise your capital gains tax liability.

    Read more >
  • Income Tax

    Income Tax

    Find out how you are affected by 2011/12 changes to Income Tax by using our easy reference Personal Tax Chart.

    Read more >
  • Corporation Tax

    Corporation Tax

    We have a range of services to help you cope with increasingly complex Corporate Tax legislation together with a full tax planning service.

    Read more >

Tax Planning

Not everyone is aware that they have the right to arrange their personal or corporate tax affairs in a manner that will minimise the amount of tax they pay. Prime Chartered Accountants has a wealth of experience in tax planning that can improve both business and individuals’ tax positions.

Self Assessment

Self assessment for individuals and partnerships has brought increased burdens on all taxpayers as it is now your legal obligation to meet the deadlines imposed by the legislation in order to avoid unnecessary fines and interest charges.

Capital Gains Tax is a tax on the profit you make when you sell an asset. Careful planning of capital asset disposals to utilise your annual personal CGT allowance is essential to minimise your capital gains tax liability. With a personal allowance of £10,600 per tax year, any chargeable gains in excess of this are imposed at the following Capital Gains Tax rates:

Income Tax

Whether you are an employer or an employee, a higher rate earner or a married couple, many of the tax rate figures are fundamental to our business and personal lives. Our tax rates 2017/18 pocket guide can be found here.

Corporation Tax

The minimisation of a company's corporation tax liabilities can help maximise the amount of funds available to reinvest in the business or to return to the shareholders. At Prime Chartered Accountants, we have a range of services to help you cope with increasingly complex Corporate Tax legislation together with a full tax planning service including:

Capital Allowances on Property

It is your Entitlement, don’t lose it!!

Inheritance Tax

With the huge increase in property values, Inheritance Tax is an area which could give rise to unexpected liabilities for the unwary. At Prime Chartered Accountants we can provide expert planning advice on the mitigation of potential inheritance tax liabilities.

VAT

Value Added Tax is one of the most complex and onerous tax regimes imposed on business - so complex that many businesses inadvertently overpay or underpay VAT. This is complicated further by different VAT rates, potential partial exemption and the administration for companies that wish to trade overseas both within and outside the EU. This complexity means that valuable in-house resources could be deployed elsewhere in the business.

Trust Planning

When assets are left to beneficiaries as a direct lump payment, these assets are considered to be part of the beneficiary’s estate, allowing risk of attack from future divorce settlements, creditors and taxation. So how can you ensure that your assets will reach your children, grandchildren and other relatives rather than ending up in the wrong hands?

Whether you are an employer, employee, employed or self-employed, awareness of National Insurance contributions (NICs) is vital. And with strong enforcement powers and anti-avoidance legislation available to HMRC, ensuring that you comply with your National Insurance contributions is of paramount importance.

Tax Enquiries

Any client can be selected for enquiry by HMRC. It is estimated that there is a £40bn tax gap between what is due to HMRC and what they collect. As a result, HMRC has been tasked with reducing this deficit by £6bn over the next four years so all businesses are at risk of tax enquiry/investigation.

Tax Investigation Service

With HMRC becoming increasingly aggressive in their approach to raising tax, many clients like the peace of mind that, should they receive notification that their affairs are to be investigated, any time we spend on supporting the investigation, is paid for.   

Call Prime Today - we're here to help

If you are looking for an accountant for your business or personal finance matters call Prime Chartered Accountants, to arrange a free, no-obligation meeting with a Director.

Coventry - 024 7651 8555 or Solihull - 0121 711 2468