Almost every business pays too much tax. Don’t be that business. With the help of our personal and corporate tax experts, we help hundreds of businesses and individuals save thousands of pounds each year. Saving tax is easy, when you know how.

 

Compliance is guaranteed

While we’ll almonst certainly save you tax, we won’t lead you astray. We promise to keep you 100 per cent compliant with the tax man, meaning there’s not a whole lot to be worried about (nothing, in fact!). We’re trusted by businesses up and down the country to offer an honest and upfront tax saving service, tailored to you and your business.

Tax Planning

We combine strategy, great service and expert advice to help you save the maximum amount of cash, year after year. Our service also includes succession planning and personal tax advice (such as Inheritance Tax and Will planning) to provide a truly lifelong, future-proof service.

Tax-Planning

Property tax

Property tax is made simple with Howard Worth. Our expert advisors will help you unscramble the property tax minefield, so you can move forward with your purchase or sale in confidence, knowing exactly what you owe, and when you’ll need to pay it. Get plain English, actionable property tax advice from Howard Worth today.

Making Tax Digital (MTD)

Welcome to the age of digital tax. As of 01 April 2019, almost all VAT-registered businesses are required to report and file a digital VAT return online, using ‘MTD-compliant’ software.

Thanks to our Xero Platinum Partnership (which means we’re already pretty good with digital accounting software), we’ve helped our clients quickly get to grips with the new MTD system, ready to file their digital VAT return from day one.

Expect the usual expert help and advice from our Chartered Accountants to help you pay less tax, but with the support of our cloud accounting team to keep you 100 per cent compliant with MTD.

VAT

You’re in luck – your cry for VAT help has been answered.

With the support of our brilliant tax experts (who know a little too much about VAT for their own good), we can help your business navigate through the complexities of VAT. Whether you are brand new to VAT, need help with a specific transaction, or are looking to get more from your accountant, look no further.

Leading, affordable VAT advice starts here.

Want to know more about the VAT Reverse Charge Changes – click here.

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Research & Development (R&D) tax relief

Looking for a little competitive advantage? Then the R&D tax credit scheme might be for you. Our expert tax advisors will work with you to assess whether the scheme is right for your business, whether you qualify, how it could help you and how much tax you could save.

Interested? Check out how we’ve helped companies similar to yours cash in on the R&D tax relief scheme:

Better materials and improvements to the product and manufacturing process

A company who manufactures and supplies products for the education of the visually impaired had improved the quality of its paper and the process of manufacturing the paper to be used with tactile technology.

We identified qualifying R&D activities where they had:

TOTAL SAVINGS: £11,000 over 2 years

  • Undertaken work with various grades of backing paper and various thickness of coating to achieve the correct quality of paper that prevented bobbling and curling
  • Applied various temperatures and speeds to the machine to achieve the correct quality of paper
  • Produced commercially competitive specialist paper that can be purchased by smaller institutions
  • Developed an innovative heater that can be used with the specialist paper produced by the company to develop tactile diagrams for the visually impaired.
  • Developed a bespoke heater with dual voltage for a Brazilian customer.

Improving biomass systems for domestic and commercial use

A company that offers a complete range of reliable and high quality renewable energy product solutions supported by unrivalled technical knowledge, service and design capabilities.

We identified qualifying R&D where they had:

TOTAL SAVINGS: £14,000

  • Undertaken work to improve the system by operating multiple log gasification boiler systems
  • Undertaken work to improve the design process and operation of the system of linking the boiler via thermal storage tanks
  • Tried to improve the operational efficiency by carrying out new ways of linking the system together on a live system for both domestic and commercial sized models
  • Tried to seek new process and devise new design for the use of underground pipe to transport heating water around District Heating projects
  • Different pipe products were taken and development carried out on heat loss performance to improve the design.

Patent Box

The Patent Box allows businesses to apply a lower 10 per cent rate of Corporation Tax to profits from patented inventions and certain other innovations. With the full rate of tax relief now available (as of April 2017), the Patent Box scheme offers an immediate advantage to companies that own or exclusively license patents and have undertaken qualifying development on them.

If you have any questions about the Patent Box scheme and how it could save you tax, please get in touch with our expert team.

Dividend Tax

For a number of years, dividends offered generous income tax breaks to business owners and shareholders. However, while still very much a tax-efficient option, recent changes have made calculating your most tax-efficient income a little more complicated. For reference, the ‘before and after’ rates can be found below.

Taxable dividend income*Tax rate**Comparable rate in 2015/16
Up to £32,0007.5%Nil
Between £32,000 and £150,00032.5%25.0%
Above £150,00038.1%30.6%

* Total dividend income after £2,000 exemption and any available personal allowance (subject to confirmation in the Finance Act). Reduced from £5,000 in 2016.
** Rate applies to actual dividend received with no grossing-up.

Business owners have two options to consider:

  1. Plan for an increased tax bill for the current tax year taking into account the increased tax rates and reduced tax-free allowance on dividends.

Or,

  1. Calculate the most efficient way to extract your company’s profits, using a combination of salary and dividends, saving you tax.

If you picked option 2, we can help. Our expert accountants have helped hundreds of business owners just like you to continue taking more money home. Get in touch and start saving today.

Construction Industry Scheme

The Construction Industry Scheme (CIS) is a tax reporting and payment system that is designed to increase revenue collected from the construction industry. Contractors are required to deduct money from subcontractor’s payments and pass it to HMRC as tax.

It includes jobs such as general building services, repairs, refurbishment, decorating, site preparation, alterations and extensions.

At Howard Worth, our expert team understand all of the technical aspects of the CIS, and we work with HM Revenue & Customs regularly to understand what work needs to be undertaken to comply with legislation in the scheme.

Construction Industry Scheme