Income Tax Assessment & Planning

Taxation is always a highly complex issue and always changing. It is something that affects everyone's life. It is a factor that is considered for all our clients whether we are performing services for a company, a business or an individual.

Our specialist tax team has a wide range of knowledge and extensive experience to complement the variety of sectors we serve and provides services specifically for private individuals and companies designed to ensure compliance with the prevailing regulations whilst identifying all possible opportunities for making savings.

As taxation advisors we take a practical and long sighted approach, planning well in advance to maximize benefit and minimize risk wherever possible. Compliance is just the first step; we challenge prevailing tax wisdom constantly, seeking innovative solutions to the most complex tax problems. We have become an essential asset for our clients who trust us to uncover all the angles in the pursuance of their personal or business objectives.

We work closely with our clients in order to plan for the present and the future prospect of the business. Whilst minimizing tax liabilities is important, we consider the wider picture and look at tax planning issues alongside commercial reality and the practicalities of life. The advantage of Podder and Associates above our competitors is that you will receive a partner-led service which guarantees continuity, experience and performance.

It has always been important to protect your wealth from the tax man but this is even more important with the ever increasing tax rates. The good news is that there are still plenty of opportunities to implement tax efficient investment and retirement strategies with efficient & effective tax planning. Whether you are concerned about preserving, growing or passing on your wealth to the next generation, you should speak with one of our highly qualified and independent tax and wealth management specialists.

Our consultants have previous experience drawn from international and small practices and are qualified accountants and income tax practitioners (ITP). Our tax services are divided broadly into the following categories:

• Tax Investigations
• Present Tax Services
• Corporate Tax
• Personal Tax
• Tax Deducted @ Source
• Tax Planning
• Tax Return
• Filing of e-TDS Returns and E-Returns
• Attending Tax Audit

Appearing before the DCT, CT Appeal, Tribunal etc

Ways we follow in brief to reduce your tax liability:

• Accelerate income or defer expenditure in the current year
• Ensure that there is an appropriate split of income between spouses/ partner/ shareholders
• Review investment techniques to seek capital returns rather than income returns
• Incorporation of a sole trader or partnership
• Pension contributions
• Gift aid payments
• Reviewing the tax efficiency of the dividend/bonus/pension payment
• Consider changing your Year End to 31 March if you are a sole trader or partnership

There may be other options dependant on your personal circumstances so contact us to find out more.

There are also a number tax schemes available to assist in reducing the taxable income that needs to be declared on company tax returns or your personal tax return as applicable.  National Board of Revenue (NBR) will seek to challenge the tax deductibility of these schemes. If you wish to discuss these schemes please Contact us.

Corporate Tax Planning

Corporation tax represents a substantial part of your trading costs. Moreover, the increased reporting obligations, robust investigation policies on the part of the tax authorities, and harsher penalties for non-compliance mean that an undue amount of your time and resources can be taken up collecting revenue for the Government.

We offer a range of services to help you minimize your corporate tax exposure and relieve you of the administrative burden of complying with tax legislation. These include:

• Determining the most tax effective structure for your business
• Taking full advantage of tax opportunities and reliefs
• Achieving the optimum capital or revenue tax treatment
• Reducing tax on disposals and maximizing relief on acquisitions
• Making the most of tax opportunities specific to your industry
• Meeting the rigorous demands of compliance including corporation tax self assessment
• Acting on your behalf in discussions with the tax authorities
• Efficient corporate tax planning can result in potentially significant improvements in your bottom line.

Personal Tax Planning

With the tax regime becoming more complex and more emphasis being put on taxpayers' individual responsibilities, everyone who is subject to taxation needs professional advice and support if they are to optimize their tax position and ensure they meet all the compliance requirements.

We are the tax specialists. We can provide you with year round tax advice on:

• Income tax
• Capital Gains tax
• Inheritance tax
• Trusts and estates
• Non-domiciliary tax issues

Every taka of income tax you save means more income at your disposal, every well planned disposal of assets means minimal loss of capital gains, and every inheritance tax saving means more benefit for your beneficiaries.

Make sure you take full advantage of the tax saving opportunities open to you today for a personal tax planning review.