Business Taxes

Shorts have more expert tax advisers than any firm in our region. And that's why we're always discovering significant tax savings, that others overlook. We see tax not as endurance, but as an opportunity.

Business Taxes

Shorts' tax department has been absolutely fantastic - very reactive to any changes in law and saved our Company a lot of money in terms of Corporation Tax paid.

Ashley Holmes, Penny Hydraulics Limited

Our expert team is strategic and proactive, so you’re not just compliant or surviving, you’re thriving.  With Shorts, tax is not an endurance but an opportunity, and by getting to know you and your goals, we can make it work to the best advantage for you and your business.

The traditional approach to tax often leads to nothing more than compliance but we know that strategic tax planning does much more.  The better we know your business, its goals and the ambitions of the people behind it, the more we can use our tax services to help you get there.  That’s why we dig deep, listen and understand, and then let your aspirations inform our strategic tax planning.

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A step by step guide to Business Taxes

What we do

Our expert tax team make business tax planning not an endurance but an opportunity. By digging deep to understand your goals, we will present a strategic approach to your business taxes ensuring you can achieve your objectives in a tax efficient manner.

Our team of 15 Chartered Tax Advisers is the largest in the region and this range of business tax together with the quality of insight and advice we offer makes us truly unique.  We are highly experienced in providing businesses with all the tax advice they need including:

  • Tax efficient profit extraction for business owners
  • Rewarding and incentivising key staff, including share schemes
  • Tax efficient group structures
  • Minimising corporation tax
  • Maximising tax relief on Property and Equipment through Capital Allowance claims
  • Tax reliefs available to innovative businesses through our Radius service, including
    • Research and Development tax credits,
    • Patent Box relief, and
    • Grant Funding
  • Tax efficient succession planning
  • VAT compliance and planning
  • Tax structuring and advice relating to buying and selling businesses
  • HM Revenue & Customs enquiries and investigations
  • International taxes; and
  • Pensions

Do you pay technical staff to solve technical problems, perhaps developing processes, products or software?  If so, we are experts in helping you claim R&D tax credits from HMRC which give tax savings for innovating.  The savings are significant – usually equivalent to around a quarter of the amount you’ve actually spent.

Tax savings may also be available for Research and Development allowances where you’ve built research facilities or Patent Box tax relief where you make profits derived from patents.  We can even help you apply for Innovation Grants.

Our unique Radius service is designed to ensure that businesses claim their full entitlement to Government backed tax reliefs for innovation.  We have 100% success record with applications submitted – a testament to our unrivalled expertise, which has saved our clients millions in tax.

Our team of dedication innovation tax specialists spend all of their time advising innovative businesses.  That means you can relax and be confident that you’re being looked after by the experts.  And, because our team includes an ex-HMRC adviser, you know that your claim will be successful.

Every individual, company or partnership is affected by the complex rules of VAT on a daily basis.  However, it is probably fair to say, that VAT remains the least understood of all taxes. Which is why we set up our specialist VAT advisory department; here to help guide you through the complex maze of VAT legislation.

Our team help with all areas of VAT from relatively basic issues such as initial registration, the completion and submission of VAT returns and advice on how to correct errors and mistakes, through to more complex issues such as assessments, control visits, cross border transactions and DIY house builds.

Within our VAT team are professionals with extensive experience of providing VAT planning advice on commercial property transactions and we have a proven track record in helping our clients structure these to minimise the impact on cash flow.

Whatever your VAT query, our expert team are here to help.

Nobody likes thinking about the prospect of an HMRC Investigation, but enquiries are on the increase. In 2018/19, over £34.1bn was collected by HMRC from investigations and enquiries alone, and it doesn’t matter whether you are an individual or a business, HMRC can open an enquiry into your tax affairs at any time.

As your dedicated accountant, we’re here to help you manage any tax enquiries you might receive. It is vital to be led by specialist advice and guidance when dealing with HMRC. We will be able to translate the many complicated questions the taxman may pose, manage the entire conversation with the taxman, help you submit any required information and minimise the impact on your business or personal life.

However, the cost of supporting you throughout an investigation is not covered in our usual accountancy fees; this is where our professional fee protection service comes in. Spend a little now to potentially save a lot later and take the stress, time and professional costs out of a tax investigation.

What our tax clients say about us

Testimonials

Shorts are excellent at spotting opportunities. It’s part of the relationship where Shorts come back to me and say "do you know about this?"

Stuart Murphy
Rollem Patent Products Limited

The R&D and capital allowances work we did in the last financial year with Shorts saved the Company a six-figure sum in Corporation Tax.

Ashley Holmes
Penny Hydraulics Limited

Shorts keep Vivid up to date with the latest legislation and are very eager to save us money where possible with tax planning. We’ve also benefitted from using Radius and will continue to do so.

Gerry Arcari
Vivid Creative Limited

Business Taxes Updates

Most recent Business Taxes news

Funding and Grant Opportunities – Innovate UK

Working with innovative companies we frequently come across those who have successfully applied for grant funding and would like to highlight two funding opportunities which are currently available. Do bear in mind that any grants received can have a significant impact on any R&D relief so it’s always sensible to consider the two in tandem.

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What does the Autumn budget have in store?

Rishi Sunak is expected to deliver his Budget in November 2020, and it has been widely speculated in the press recently that he may take this opportunity to raise taxes in order to pay for the extensive COVID-19 support measures.

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Retailers can reduce their tax through R&D tax relief

Our high street retailers have been significantly affected by the Covid-19 lockdown as consumers turned to ecommerce alternatives during that time. Despite the additional challenges they now face, there are things retailers can do to improve cashflow – one of which could be taking advantage of the Government’s R&D tax relief schemes.

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Let's start talking about how we can save you tax

COVID-19In line with the most recent Government announcements, both of our offices are now open. We have conducted a thorough review of procedures and implemented several changes to ensure a ‘Covid-19 safe’ working environment. Our phased transition will see members of our team returning to the office on a rotational basis within their teams and allowing a limited number of essential client meetings. All our team can be contacted by clients, whether working from home or in the office. You can contact them in the usual way, either direct through reception, or via email or mobile phone.