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It is crucial to structure your business so that you minimise your tax liabilities and comply with all legislation. Compliance is ever more important as completing returns is the responsibility of the taxpayer and there can be severe penalties for non compliance.
Tax planning cannot be carried out in isolation particularly in family businesses. For effective tax planning all taxes must be considered. For example, a particular business owning properties may benefit from a tax point of view by buying and selling some properties and seem like an excellent plan. However, it may not be as effective as hoped if the benefits are offset by stamp duty costs.
The range of taxes and legislation has never been greater than now. We have listed all the different taxes and important issues to consider but no two cases are the same and our skill is applying our knowledge to a specific situation to give you the best possible solution.
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