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

12 tax tips of Christmas 2019

December is now well underway, so here is our annual tax take on the 12 Days of Christmas with our twelve top tax tips for 2019:

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Entrepreneurs' Relief – Use it or lose it

In the run up to the General Election it has become clear that Entrepreneurs’ Relief may not be around much longer, whichever party/ies are in power.  Business owners looking to sell in the short to medium term may well find themselves worse off than they expected under the current tax rules if the scope of any future reliefs is narrower than Entrepreneurs' Relief.

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Tax-free Christmas gifts for Employees

With the Christmas season now rapidly approaching, businesses might be considering Christmas gifts to reward their employees for their hard work over the year.  Now is a good time to look at some tax free rewards you might wish to consider. Office Party For many businesses, the annual Christmas party is a chance for staff to let their hair down.  The Christmas party can help to boost morale and make staff feel valued for their efforts as well as being a fully allowable tax deduction for the business.   Due to a rare allowance by the taxman, staff Christmas parties can be tax-free if the cost per head is kept to below £150 per member of staff each year.

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