Company Tax Planning
At Watson Associates, our tax specialists will help steer you smoothly through the obligations and opportunities of the continuously changing taxation environment to help ensure tax efficiency for your business.
We have comprehensive experience assisting clients navigate the tax complexities of business combinations, restructuring and management buy outs helping find the best solution on a case by case basis.
We can also advise on and help implement share options schemes in order to retain and motivate key employees.
Personal Tax Planning
We can save you a lot of time, worry and money by handling your Self Assessment for you. We will do all the necessary computations, complete your Return and offer advice on how you can minimise your tax liability.
We can act as your agent, dealing directly with the HM Revenue & Customs on your behalf and, should you be selected for a self-assessment enquiry, act for you at any meetings.
We can also advise in more specialist areas of personal tax planning such as inheritance tax planning and capital gains taxation as well as identifying the best ways to invest in new business utilising highly tax efficient schemes like the Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS). Our taxation services in Sussex are designed to cover all your personal tax needs.
Our Taxation Services in Sussex
We provide expert taxation advice and support tailored to businesses and individuals across East Sussex, including Eastbourne, Hailsham, and Brighton. Our team understands the local landscape and can help you navigate the complexities of taxation with ease. Our services include:
- VAT: Whether you’re a small business or a large corporation in Sussex, our team can help you manage your VAT obligations efficiently, ensuring compliance and minimising liabilities. We provide guidance on VAT registration, returns, and dealing with HMRC queries.
- PAYE: We assist local businesses in setting up and managing PAYE systems to ensure accurate tax deductions for employees. From payroll management to compliance with the latest regulations, our Sussex-based team provides comprehensive PAYE support.
- Corporation Tax: Our experts provide tailored corporation tax planning and compliance services to businesses across East Sussex. We help you optimise your tax position, manage deadlines, and ensure that you meet all HMRC requirements.
- Capital Gains Tax: Whether you’re selling property, shares, or other assets, we offer personalised advice on capital gains tax to help you minimise your liabilities. Our local expertise ensures you’re fully aware of any reliefs or exemptions applicable to your circumstances.
- Creative Industry Tax Relief: From film and video games production companies in Brighton to digital media firms in Eastbourne, our specialised tax relief services support the creative industries of Sussex and London and South East. We’ll help you claim the reliefs available to your sector, ensuring your business makes the most of every opportunity.
- Inheritance Tax: We provide specialist advice on Inheritance Tax (IHT) planning and trusts, helping you protect your wealth and plan for the tax-efficient transfer of assets to your beneficiaries.
Taxation FAQs
Do I need to complete a Self Assessment tax return?
You are usually required to complete a Self Assessment return if you are self-employed, a company director, a higher or additional rate taxpayer, or if you receive income from property, savings, or investments. If you are unsure whether you need to file, we can quickly assess your position and take care of the whole process on your behalf.
Does my business need to register for VAT?
You are legally required to register for VAT once your taxable turnover exceeds the current registration threshold of £90,000 in any rolling 12-month period. It may also be worth registering voluntarily below that threshold, particularly if your customers are VAT-registered businesses themselves. We can help you decide the right approach, manage your VAT registration, prepare and submit your returns, and deal with any queries from HMRC.
What are Research and Development tax credits?
R&D tax credits are a valuable government incentive designed to reward businesses that invest in innovation. If your company is developing new products, processes, or services, or making meaningful improvements to existing ones, you may be able to claim a significant reduction in your Corporation Tax liability, or in some cases receive a cash credit. Many businesses in East Sussex are eligible but do not realise it. We guide you through the qualifying criteria and the claims process to ensure you receive the full benefit you are entitled to.
What is Creative Industry Tax Relief?
Creative Industry Tax Relief covers a range of sector-specific reliefs available to qualifying businesses in film, television, animation, video games, and other creative sectors. If your business is producing or developing creative content, you may be able to claim an enhanced deduction on qualifying expenditure. We work with creative businesses across Sussex, from film production companies in Brighton to digital media firms in Eastbourne, to ensure they are making the most of every available relief.
What happens if HMRC selects me for a Self Assessment enquiry?
HMRC has the right to open an enquiry into any tax return, and being selected does not necessarily mean there is anything wrong. If you are investigated, we will act for you throughout the process, attending any meetings, handling all correspondence, and working to resolve the matter as efficiently as possible. Having professional representation makes a meaningful difference in how smoothly an enquiry is handled.
Can you advise on both personal and business tax?
Yes. We advise individuals, sole traders, partnerships, and limited companies across East Sussex, including clients in Hailsham, Eastbourne, Brighton, and the surrounding areas. Our team handles everything from straightforward Self Assessment returns to complex business tax planning, so whether you need personal tax advice, help with your company’s affairs, or both, we can support you in one place.
Schedule a Free Consultation
Discover how we can support your business with our taxation services services. Book a free one-hour consultation today to explore your options. Contact us or call 01323 842 119 to get started.