problems and solutions
There are many ways in which Jones Harris are different from other accountants. It's not just a case of sorting out your year end accounts and then having no contact until the following year; one of the key reasons for our continuing popularity is our proactive approach to dealing with your financial matters in general.
As accountants, we deal with a huge variety of finance-related problems each and every day, and our thirty years of experience mean that we seldom encounter anything new. As well as providing immense peace of mind for our clients - after all, nobody wants to deal with an accountant who can't solve financial problems - but it also provides us with a long list of satisfied clients, all of whom sleep easier after talking their problems through with us.
We'd like to use this page to present a small cross-section of the kind of issues, based on real cases, which our clients have raised in recent years; names have been removed, and all prices quoted are approximate.
In this section:
- Tax Investigations
- Back Taxes
- Reducing Tax Liability
- Specialist Knowledge
- Keeping Your Tax Affairs in Order and Safeguarding Your Interests
tax investigations
We’re a major national retail company, and a tax investigation into our company has been dragging on for two years. We’ve had a meeting with the Inland Revenue, and they’ve suggested that we’re looking at a settlement in the region of £250,000. We could really do without this - can you help?
the solution:
Thank you so much Jones Harris! Your excellent team was able to disprove most of the Inland Revenue’s claims against us, and within a year the whole mess was settled, at just £14,000 payable. And as if that wasn’t enough, your charges of £10,000 were more than reasonable.
The Inland Revenue are investigating my accounts and tax returns. I’m a self-employed fish and chip shop owner, so this isn’t something I deal with very much, but I can tell my current accountant isn’t handling things very well. Any chance you could help me out of hot water?
the solution:
Wow! You did a sterling job defending me during the investigation. Your correspondence and negotiation with the IR hugely reduced my tax liability… I dread to think where I’d be now if I hadn’t have spoken to you!
back taxes
I’m a self-employed graphic illustrator, and the Inland Revenue are trying to bankrupt me for nearly £9000 in unpaid taxes. It’s all to do with arrears from several years ago. I don’t know what to do and I’m tearing my hair out!
the solution:
Who would have thought it? By reviewing my finances over the last six years, and spotting changes that could be made to the Inland Revenue’s demands, you managed to get me a REFUND of over £1500! I don’t know how you did it, but I can’t thank you enough!
I’m a self-employed taxi driver, and I’ve always handled my own tax and accounts affairs. The Inland Revenue have decided to subject me to an investigation, and they’re suddenly asking me for £13,000 in unpaid taxes relating to several years’ earnings. I don’t have any choice in this, do I? I’ll have to pay the full amount…
the solution:
Your negotiation skills are second to none! Getting that tax bill all the way down to £3,700 is amazing, and a far easier pill to swallow than the £13,000 the Inland Revenue were demanding. Thank you Jones Harris!
Reducing Tax Liability
I thought this was all supposed to be straightforward… I’m in the process of selling my business to a national PLC, but I don’t have a head for figures and I’m not sure how much tax my family’s going to owe. It doesn’t make any sense to me – any ideas as to what we can do?
the solution:
Well, you made that look easy! It was all a matter of structuring the sale in the most tax-efficient way. And, looking at my finances, you’ve saved us over £200,000 in Capital Gains Tax. Thank you!
A few things are on my mind about Inheritance Tax. It’s a difficult enough subject to think about at the best of times, but now it looks like my family is going to have to pay out a fortune in tax when the time comes. Is there any way of reducing the tax liability?
the solution:
“Wonderful! Your Inheritance Tax Planning service gave me simple, straightforward advice; by taking these steps, I’ve vastly reduced the amount that my family will have to pay. In fact, I understand you’ve saved your clients over £1,750,000 in tax payable – a staggering amount. And the average fee for the whole service is just £750, which is no cost at all when you consider the peace of mind it provides.”
Specialist Knowledge
My current financial advisors can’t seem to agree a set of claims with the Inland Revenue. I’m a self-employed seafarer entertainer (an entertainer on board cruise liners) and I’m not sure what to do. My colleague said you were the right people to talk to. Was he right?
the solution:
No wonder you came so highly recommended. Far from simply reducing the charge I had to pay, you actually managed to get me tax refunds totalling over £16,000! I’m amazed… and it goes without saying that I’ll be recommending Jones Harris to all my colleagues and friends!
I’m getting a real ear-bashing from my partner about bringing all my tax bits and pieces up to date, so I think it’s time I spoke to you. I’m a contract fisherman, and I haven’t declared my earnings for over fifteen years – no wonder I’m getting so much grief! You’ve got experience of dealing with the fishing industry, haven’t you? Can you help get me out of a tight spot?
the solution:
It’s a good job I spoke to you when I did! Your specialist knowledge of the fishing industry was crucial in your negotiations with the Inland Revenue, so you brought all my tax affairs up to date with minimal tax liabilities. Better yet, my partner has finally stopped shouting at me!
Keeping Your Tax Affairs in Order and Safeguarding Your Interests
I think it’s time I brought my tax affairs up to date… I’m a property landlord, and for one reason or another I haven’t declared my rental income to the Inland Revenue for, well, 18 years. I know there’s going to be a late submission penalty, but is there any way of minimising it?
the solution:
That wasn’t so bad. The Inland Revenue could have charged me 100% of the tax due as a penalty, but you negotiated it down to 10%. It’s a huge saving, and you had the whole matter wrapped up in a matter of weeks. An excellent result all round – I’ll be sure to keep my finances in order from now on.
We’re in the manufacturing industry, and we know how unstable this sector can be, so we’re looking to safeguard our interests. How can we protect the properties owned by our trading companies? We’re not used to dealing with these sorts of issues, and it’s getting us down!
the solution:
Thank heavens we spoke to you! We had no idea that it was so important to move the properties away from the trading companies – if the worst happens and the trading companies become insolvent through no fault of their own, the properties are protected. With your help, we moved the properties without having to pay any Capital Gains or Stamp Duty Land tax, which is obviously great for our cashflow. And charging just £2,500 for all this was a bargain.
