Overview
Taxation affects all aspects of our lives. It applies to most purchases of consumer goods or services (Value Added Tax), travel and leisure activities (Car Tax, Air Passenger Duty, Fuel Duty), to earnings from employment and self-employment (Income Tax, National Insurance Contributions), to savings and investments (Income Tax, Capital Gains Tax), on purchases of houses and land (Stamp Duty Land Tax), to specially targeted goods such as alcohol and tobacco, and on movement of goods across international borders (Customs Duties) and more besides!
In addition to the taxes themselves there are complex rules dealing with the procedures for collection and enforcement of taxes, appeals against tax assessments, treaties to reduce double taxation in cross-border situations and even requirements, recently introduced, to report transactions which may avoid or postpone the payment of tax.
At TWM we are conscious that there are taxation elements in almost all the work we handle; if we are able to suggest an approach which saves tax for either party to a business transaction there will generally be benefits for all the parties.
For any assistance please contact Tim Caton.