Tax compliance, advice and mitigation

Tax compliance

The objective of UHY Crossleys' Tax Compliance Department is to assist clients in meeting their legal and statutory obligations to complete returns, registrations and notifications accurately and on time in order to minimise the risk of incurring penalties and interest charges.

UHY Crossleys provides a full tax compliance service for its local and overseas clientele, including:

  • the preparation and submission of individual, corporate and trust tax returns
  • the agreement of tax assessments
  • payroll and benefit-in-kind statutory returns
  • VAT return preparation and submission
  • VAT registration and de-registration

UHY Crossleys also assists with client tax enquiries and investigations. In the main, such work is normally undertaken for Isle of Man and UK clients, but such a service can be offered in respect of other jurisdictions in conjunction with suitably qualified professionals.

Tax advice and mitigation

Individuals and businesses alike face a challenging environment when it comes to tax. Laws and regulations are always changing and ensuring that the correct strategies and arrangements are in place is key in relieving the tax burden to the fullest extent possible.

Whilst UHY Crossleys has always provided its local clients and those further afield with bespoke tax advice, the firm has, since 1995, been actively involved in the development and operation of tax strategies.

Such strategies have been developed independently or in conjunction with other professional practices and are principally directed towards the mitigation of taxation for individuals who are Resident and Domiciled in the UK and companies that are deemed Resident, Controlled and Managed in the UK, or those which have a UK Branch or Agency.

A number of UHY Crossleys' tax strategies are currently cleared, or are in the process of being cleared, for use in other jurisdictions, e.g. Ireland.

In order to maximise their appeal and the benefits for taxation purposes, the strategies generally have an Offshore involvement and usually incorporate the use of trusts and/or companies which are either located in the Isle of Man or elsewhere. Some of the strategies are multi jurisdictional and therefore rely upon Double Tax Treaty provisions.