How can you withdraw funds from your business in a tax-efficient manner? Should you trade as a limited company or remain a sole trader? What’s the most effective way to receive royalties, and are you making the most of all available tax reliefs and allowances? While these are common concerns for new clients, we often uncover even broader tax opportunities that can benefit their business.
We offer comprehensive, high-level tax advice and compliance support to a diverse range of businesses, including micro-entities, SMEs, family-owned companies, trusts, charities, partnerships, and large UK and international corporations.
From optimising business structures and implementing share incentive schemes to providing specialised guidance on UK and overseas expansion, our multidisciplinary approach ensures that all aspects of our clients’ tax and financial matters are considered. By taking a holistic view of their financial situation, we help businesses not only maximise tax efficiency but also support their strategic growth and decision-making at every stage.
Lifetime limit on Business Asset Disposal Relief, offering 10% Capital Gains Tax for qualifying business sales.
Higher Corporation Tax rate on profits over £250,000 (from April 2023). Profits below £50,000 taxed at 19%.
The Full Expensing Scheme allows 100% deduction on qualifying plant and machinery investments, with no cap (valid from April 2023 to March 2026).
This scheme allows business owners to pay a reduced Capital Gains Tax (CGT) rate of 10% when they sell all or part of their business. This relief is designed to help entrepreneurs retain more of their profits after a business sale, significantly lowering their tax liability compared to the standard CGT rates of 20%.
To qualify, individuals must have owned the business for at least two years and hold at least 5% of the shares and voting rights if it is a company. The relief also applies to business partners or sole traders who dispose of all or part of their business assets. There is a £1 million lifetime limit, meaning the 10% tax rate can only be applied to qualifying gains up to this threshold over the entrepreneur’s lifetime.
This relief is a key incentive for business owners, making it easier to exit or sell their ventures while retaining more of the financial rewards. At Jungle Tax, we can assist business owners in structuring their sales to maximize eligibility for Business Asset Disposal Relief and ensure they are making the most of this valuable tax benefit.
At Jungle Tax, we excel in uncovering substantial tax reliefs, such as R&D tax credits and Capital Allowances, helping businesses save significant amounts that might otherwise go unnoticed.
Our expertise in succession planning and Business Asset Disposal Relief ensures owners can minimise tax liabilities when passing on assets or selling their businesses, saving potentially hundreds of thousands in taxes.
We also provide strategic guidance on international tax and cross-border transactions, reducing tax exposure and ensuring compliance, while maximising savings for expanding businesses.
Tax laws are complex and ever-changing, making it easy to miss out on key savings or fall out of compliance. Jungle Tax brings the expertise needed to navigate these challenges, ensuring your business stays compliant and takes full advantage of tax reliefs.
We specialise in identifying opportunities like R&D credits, Business Asset Disposal Relief, and Capital Allowances that many businesses overlook, potentially saving you significant amounts in taxes.
From handling cross-border tax to succession planning, Jungle Tax ensures you make tax-efficient decisions at every stage, allowing you to focus on growing your business.
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