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Comprehensive Accounting and Tax Solutions
At IFS Limited, we offer a wide range of bespoke accounting and tax services tailored to meet the unique needs of our clients. With over 20 years of industry experience, our team of dedicated professionals is committed to providing personalised solutions that enhance your financial success. Whether you're a local business or an international entrepreneur, we are here to support you in navigating the complexities of accounting, tax planning, and compliance. Explore our services below to discover how we can help your business thrive.
Accounting
Preparation of annual accounts is a legal necessity for many businesses, so it cannot be overlooked. The review of these accounts gives a perfect opportunity to reflect and reassess the business and find ways to develop and build the business and move it successfully forward. We are able to add value to the accounts by helping you plan for future growth and success. The most common services we provide our clients are:
- Compilation of Ongoing Bookkeeping Services, Periodic Management Accounts
- Preparation of Annual Accounts
- VAT Registration and Compliance
- UK Payroll Services
Streamlined Financial Reporting
With International Financial Reporting Standards, UK GAAP, the newly introduced FRS102, Financial Reporting Standard for Smaller Entities and now the Financial Reporting Standard for Micro-Entities, keeping up to date has never been more complex and time-consuming. Here at IFS Limited, we use the latest software to maintain your records, allowing you to run your business safe in the knowledge we have everything under control. We identify areas of the business that give our clients the most opportunity to make improvements.
Business Start-Up and Development
Starting a business can be a daunting process. At IFS Limited we can guide you through this, presenting you with the best options, giving you the right advice and dealing directly with many of the obstacles. Please speak with us if you would like to discuss starting a business further. Our advice could include:
- Assessing the Most Suitable Structure for Your Business
- Incorporating Companies
- Establishing a Business Plan
- Helping Obtain Finance
- Assist With the Application of Seis and Eis Investor Platforms
- Preparation and Analysis of Management Information
- Preparation of Budgets and Forecasts
- Providing Help With VAT Returns and Payroll.
Property Tax
The property sector offers diverse investment opportunities, from single buy-to-let properties to extensive portfolios. At IFS Limited, we help you structure your investment tax efficiently, considering factors like capital gains tax and the tax treatment of repairs and renovations. If you own property valued over £500,000, be aware of additional tax charges, especially for properties acquired through companies or partnerships. Our team provides specialist tax advice for both UK and overseas landlords, ensuring compliance and reducing administrative burdens. We also offer strategies to protect family properties from Inheritance Tax, helping you plan for your family's future. Our team of specialists are experienced in advising property investors and developers on the following areas:
- Taxation
- Accounts and Bookkeeping
- Company Structure
- Raising Finance
- Annual Tax on Enveloped Dwellings (ATED) Returns
- Capital Gains Tax
Inheritance Tax
Inheritance Tax (IHT) is charged at a flat rate of 40% on your estate at death, which includes all your assets—such as your house, cash, personal belongings, foreign assets, and any gifts made in the last seven years. Exemptions like the Nil Rate Band, currently £325,000, mean that the first £325,000 of your estate is tax-free. However, if your home is included, it’s easy to exceed this threshold.
Effective estate planning is essential to minimise IHT and ensure proper provision for your beneficiaries. A professionally drawn Will forms the foundation of this planning. At IFS Limited, we can discuss your options and identify the most suitable planning tools for your specific situation.
Trusts
Trusts are created as a means of wealth preservation. They can provide flexibility in allowing assets to be passed down through the generations in a secure and tax efficient manner. Our specialists can advise on the initial creation of a trust, helping you to choose the most suitable structure to meet your requirements. Once the trust has been formed, we can deal with the day-to-day administration, and provide ongoing advice concerning the running of the trust. We can also prepare annual accounts, tax returns and computations, and act as trustee, if required.
Estates & Wills
Our Estate planning specialists can assist you in mitigating Inheritance Tax liabilities by utilising lifetime gifts, both outright or via a trust, and by advising you on how best to write or update your will. Where an Inheritance Tax liability is unavoidable, we can help to plan for the funding of the tax due so that the administration of your estate is completed promptly and cost-effectively.
VAT and Indirect Tax
VAT legislation can be incredibly complex, but at IFS Limited, we simplify it for our clients. Our experienced VAT planning team understands both the legislation and HMRC's policies, enabling us to address even the most intricate issues. We offer a range of services, including negotiating liability issues with HMRC, developing partial exemption methods, providing VAT planning strategies to enhance cash flow, navigating VAT property law, and advising on EU and international transactions. Here are some key areas we cover:
- VAT and Property
- VAT and Not-for-Profit Organisations
- VAT and Offshore Companies
Get Expert VAT Support
At IFS Limited, we understand the complexities of VAT and are here to provide the guidance you need. Whether you’re facing challenges with HMRC negotiations, cash flow planning, or navigating property law, our experienced team is ready to assist you. Don’t let VAT issues hold your business back. Contact us now for a consultation.