Corporate Tax

Our experienced corporate tax team offer a full range of tax advisory, compliance and reporting services. We offer effective, pro-active and efficient solutions focused on minimising tax risk and maximising tax reliefs. Below are just some of the areas we cover:

• Tax compliance services
• Tax reporting
• Tax rates, reliefs and allowances
• Quarterly instalment payments
• Loss reliefs
• Corporate tax for large corporates (SAO, corporate interest restriction)
• Year end planning
• HMRC enquiries and Tax Investigation Service

Every business will be innovating to seek competitive advantage.  Where that investment in innovation requires a business to seek to overcome scientific or technological uncertainty and break new ground, those efforts can attract enhanced tax relief, or even a repayable tax credit.

The R&D Tax Credit regime is a powerful tool to help fund innovation.  This is a valuable government incentive geared to helping companies at all stages of the business lifecycle who are incurring expenditure on qualifying R&D activities.

Bishop Fleming have significant expertise and experience in helping clients access the benefits of the R&D Tax Credit regime.

Click here to view our Research & Development Knowledge Hub.

A business may undertake a reorganisation for a wide range of commercial reasons, including business expansion, rationalisation or succession planning. Tax is a key aspect of any transaction or re-organisation and brings tax planning opportunities as well as risk.

Our experienced tax team help you to make the most of tax opportunities whilst avoiding tax traps. We work closely with our clients to gain a comprehensive understanding of the commercial objectives, carefully planning the appropriate corporate structures and making use of available reliefs.

Our services include:

• Identifying pre-transaction planning opportunities
• Designing transaction structures tax efficiently, maximising available tax reliefs and minimising tax cost
• Obtaining relevant tax clearances from HMRC
• Tax due diligence support
• Tax advice on warranties and indemnities

We also offer a full range of Corporate Finance Services. Click here to find out more.

Succession Planning and Profit Extraction are key considerations for business owners who want to maximise value from their business, through both ongoing profit extraction and an eventual exit. Business owners can achieve an exit and secure the future of their business through a number of avenues, including family succession, employee ownership or a third-party sale.

We work closely with our clients to determine a tax efficient profit extraction strategy based on their income requirements, profitability of the business and future goals. Our experienced team provides support to clients in developing their exit and business succession plans, ensuring these are structured tax efficiently and meet the commercial objectives.

Below are just some of the areas we cover:

• Remuneration planning - including dividends, salaries, and pensions
• Advising on management buy outs and other forms of employee ownership
• Family investment companies
• Growth shares
• Business Asset Disposal Relief
• Inheritance tax planning

Capital Allowances provide significant tax relief to businesses for capital expenditure. With numerous different rules, rates and types of allowances available, our team have the expertise to cut through the constantly evolving legislation, case law, and guidance and ensure you do not miss out on significant tax relief opportunities.

Employee share ownership is a powerful way to incentivise, retain and recruit staff by given them a stake in your company, helping to make the business more productive, profitable and resilient. It can also provide a tool for business succession planning. 

There are many different types of employee share schemes including employee ownership trusts, share options (both HMRC approved and unapproved) and share awards. It is a complex area and the appropriate scheme will depend on the objectives of the business.

Our expert team can advise on the right scheme for your business which may include.

• An Employee Ownership Trust
• Enterprise management incentives (EMI)
• Company share option plan (CSOP);
• Share incentive plan (SIP); and
• Save as you earn (SAYE) scheme.
• Share awards

Our team of employment tax specialists provides a comprehensive range of advisory and compliance services.

Click here to find out more about our Employer Solutions services.

The Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS) are great ways for growing companies to raise finance. The schemes are extremely appealing for investors, due to the generous tax breaks on offer.

Bishop Fleming has considerable experience of helping companies to raise finance and to qualify for either scheme, as well as advising potential investors on the options available. We ensure that investments are structured in the most tax-efficient manner in order to maximise the reliefs available. Whether you are looking to attract finance or contemplating an investment opportunity, our cumulative knowledge, expertise and contacts in the market are available to you to provide you with the best advice.

Download our Enterprise Investment Scheme factsheet here.

Download our Seed Enterprise Investment Scheme factsheet here.

HMRC Enquiries and Investigations can be stressful, time-consuming and costly for the party involved. As your Accountant we want to protect you where possible which is why we offer a Tax Investigation service which covers you against the cost of professional fees associated with a tax investigation. Click here to find out about this service and how it can protect you.

Taking out Taxwise cover is easy to arrange. Bishop Fleming has its own online portal where this can be purchased online. 

Please speak to your tax contact at Bishop Fleming for more details.

Our team can handle all the annual corporate tax requirements of UK resident companies regardless of size. 

We look to manage risk whilst claiming all the reliefs available to minimise the corporate tax burden. 

If an employee or a Director has acquired company shares, there may be a filing requirement, which is easy to miss. We can look after that for you.