Taxation and VAT Advice
Welcome to Simpson Burgess Nash
Simpson Burgess Nash are proud of our connections with Manchester and actively develops ties to the business community. Our clients include businesses of all sizes throughout the North West including exceptionally strong ties with the creative media, medical profession and networking organisations.
We have a high profile within the Personal Injury field offering specialist expertise to families who have received damages awards. This knowledge and expertise is often provided to other professionals (solicitors, IFAs, Case Managers) working within the field to ensure such clients maximise their tax planning strategy available to them through current legislation.
You will find our tax and accountancy team friendly and approachable providing excellent service to both businesses and individuals. Take up our offer of a free initial consultation to discover what Simpson Burgess Nash can do for you.
Care Home Capital Allowances
We offer a comprehensive service of identification of fixtures integral to care home premises and preparation and submission of appropriate allowances claims. See our article on the subject (“Taxation Advice”) in the August news archive for further details.
Taxation of Doctors
Please see the Network For Health September news archive for an article on doctors’ taxation.
Chiropractors
We act for a number of chiropractors, advising on such issues as:
Self-employed status of associates
Domicile status and planning
Business structure and tax efficient profit withdrawal
Simpson Burgess Nash deals with a large number of clients unfortunate enough to have been the victims of serious personal injury at work, in road accidents or as the victims of violent crime, and clinical negligence.
Tax Return Preparation
Whilst claimants’ awards are tax exempt, income arising from investing the award is in general, taxable and thus typically as a claimant you will be required to complete a personal tax return in respect of investment income.
Trust Accounts and Tax Returns
Many claimants will be advised to set up personal injury trusts to protect their entitlement to state benefits. We can prepare trust accounts and tax returns for you and also negotiate with the taxman to minimise duplication in tax completion.
Public Guardianship Office Returns and Accounts
If a claimant is under 18, or is unable to look after his or her own financial affairs, (due for example, to brain injury), the Court of Protection will appoint a Receiver to look after the claimant’s finances. The receiver is required to complete a return and accounts for the Public Guardianship Office each year and we can complete these on behalf of you as Receiver.
We are also aware of the forthcoming changes to the Mental Health Act and can advise you regarding Enduring Powers of Attorney and the new procedures for withdrawing money from Court Funds.
‘Gratuitous Care’ Rulings
Awards to claimants typically include a significant element to pay professional carers, but sadly there is a severe shortage of such carers. As a result, family members are often obliged to give up work and provide care, for which they are eligible to receive payment out of the award. Many family carers are wrongly advised by the taxman that tax and national insurance are due on such payments. We can obtain a ruling from the taxman on your behalf as a family carer that tax and national insurance is not due on such payments.
VAT Advice
There are various items that are eligible for zero-rating when supplied to disabled people. The main ones are certain building works to adapt property for wheelchair use, adapted motor vehicles and specialised computer equipment. We can advise you on the availability of zero-rating and how to certify eligibility for zero-rating to your supplier.
Inheritance Tax Planning
Awards are not exempt from inheritance tax and thus, large awards bring with them inheritance tax issues. We can advise on inheritance tax planning, althought the scope for this is limited by the fact that the award is intended to be used to benefit the claimant during his or her lifetime.
Domicile
If your father was born outside the UK and you have, or could obtain non-UK assets or income, you may well be able to establish yourself as domiciled outside of the UK, with potentially significant tax benefits.
Our tax planning director Mark Simpson can advise whether you have a case for non-UK domicile and we offer a no-win-no-fee service to obtain a domicile ruling for you from the taxman.
Advice Re: Acquisition of Foreign Property
In recent years the Court of Protection has begun to sanction the purchase of foreign holiday homes for claimants in order to improve their quality of life. We can help you to deal with the process of acquiring such property, based on our experience of assisting other claimants in this area in the past.
In addition to the above services, we are also able to refer clients to other specialists in related professional areas, in connection with (for example) statutory wills and investment advice.
For further details of how to contact Simpson Burgess Nash, please click on the following link:
Tax and VAT Advice
