Business Tax

Business Tax

We provide a range of tax services, from tax returns and compliance right through to advising on relevant tax reliefs available to businesses. We provide effective and efficient tax services based on an understanding of the particular industry to fulfill all of your business’ requirements.

Our small business tax and accounting services include:

Corporate Tax

Running a business inevitably means grappling with a myriad of complex business tax rules and applications. Carnegie Knox offers specialist advice to plan and support your business so that it maximises business opportunities and effectively manages liabilities.

We will offer guidance and advice on:

  • Identifying opportunities and reliefs specific to your industry
  • Optimising capital or revenue tax treatment
  • Disposing assets tax efficiently and maximising reliefs on acquisitions
  • Meeting your business’ corporation tax compliance
  • Dealing with HMRC on your behalf

VAT

Getting on top of your VAT is critical for an owner managed business as it can be lethal if you get it wrong. Our advice and guidance will help to ensure that you are compliant and on the most beneficial VAT scheme for your business needs.

We offer advice on:

  • Sector specific advice
  • Timing of VAT registration
  • Preparation and online filing of your VAT returns
  • EU VAT Rules relating to Place of Supply Rules

Research and Development Tax Relief

Research and Development (R&D) tax relief for small companies provides an enhanced deduction for the costs of qualifying R&D projects. The relief currently provides an enhanced deduction of 230% of qualifying R&D revenue costs. Only companies can claim tax relief and they must have no more than 500 employees.

To gain from the R&D tax relief the company must prove to HM Revenue & Customs that the particular project falls within the definition of R&D established by the BSI guidelines.

This is a specialist area and Carnegie Knox works with an Edinburgh based partner that has secured millions of pounds in benefits for clients.

Expatriate Tax

If you have an employee or director who is Scottish or British but they are working overseas, or you are planning to send somebody abroad on assignment in the near future, then you need to pay careful attention to their tax status and any possible tax implications or exposures for your company. As an employer you have an obligation to them to obtain sound advice and guidance on this very complex matter.

Expatriate tax is a complex area but our specialists at Carnegie Knox can support you with advice and guidance. We will assess the tax position from a global perspective to provide a detailed overview of the taxes to be paid in both the UK and the foreign jurisdiction.

We can advise on double taxation relief if tax is paid in different countries on the same income and will carry out a review with regard to employee benefits and salary and incentive packages. This will provide a clear view of the implications of the taxes payable in advance of any assignment or deployment being undertaken.