Best accountant services Manchester, UK: Our experienced chartered accountants cover a wide range of services for accountancy and personal tax returns. From cloud accounting in Xero, management accounts, VAT returns, year-end accounts, management accounts and audit through to succession planning and pension advice. Our team of highly qualified accountants specialise in helping business owners achieve their goals by offering an unrivalled level of expertise and service. With offices in Manchester City Centre, we provide accounting and taxation services throughout Greater Manchester and Lancashire. See additional information on Benefits of Seeking Tax Advice and Accountant in Manchester.
At Jack Ross Chartered Accountants, we work with businesses from various sectors, including property, construction, technology, professional services, and digital. We are known for our honest, open, and pragmatic approach to providing guidance, advice, and a range of services that help businesses achieve their goals, outperform their competition, reward their teams, and build strong and robust businesses.We are conveniently located in Manchester and would be happy to schedule a meeting to discuss your business and introduce you to the team assisting you.
Business property relief (BPR) is a way for UK businesses to reduce or eliminate inheritance tax on certain business assets. BPR was introduced in 1976 to help family-owned businesses continue trading after the owner’s death. They could do this without having to sell shares or the entire business to pay inheritance tax. BPR has since evolved. It is now often used to minimize tax on gifts made during a person’s lifetime or after their death. In order to qualify for BPR, a business must not be listed on a main stock exchange. Therefore, it may not be an option for public limited companies. Private limited companies, limited liability partnerships, and sole trader businesses may qualify for BPR. In order to qualify, a business must pass the 50% trading test. This means that less than 50% of the business’ activity must be made up of investment activities. For example, purchasing stocks and shares or buying land and buildings. It’s best to speak to us at Jack Ross Chartered Accountants if you’re unsure if your business qualifies for BPR.
In order to qualify for BPR at 100%, the business must be able to qualify for 50% trading and meet the following criteria: An interest in or a business that is owned by another person; Shares listed on the AIM market that are unquoted (even those listed on the AIM market); Shares and securities of an unquoted company that are unquoted in order to give them control over the company (either alone or together with other unquoted securities); Several other assets are also eligible for a 50% BPR, including the following ones: Shares of a company that are quoted on the stock market and grant control over it; Business property that is used exclusively for the purpose of conducting business, such as land, buildings, or machinery; There are a variety of land, buildings, and machinery that have been used by a beneficiary in the operation of their business.
Maximizing your tax savings and tax planning: A qualified tax professional can help you identify tax deductions, credits, and exemptions that you may be entitled to, saving you money on your tax bill. Minimizing your risk of an HMRC enquiry: If you have a complex tax situation or have made mistakes on your tax return, you may be at a higher risk of an enquiry by HMRC. A tax professional can help you ensure that your tax return is accurate and complete, reducing your risk of a HMRC tax enquiry.
As tax experts in Manchester, we are well-equipped to assist with all of your tax-related needs. Whether you want to minimize your tax liability, navigate the tax system, or comply with regulations, we have the knowledge and expertise to help. Our tax consultants are highly trained and experienced, and they will work with you to develop a customized tax strategy that meets your unique needs. We also offer tax planning, compliance, risk management, optimization, and consulting services to ensure that you are fully prepared for the future. Read more details at https://www.jackross.com/.