Following BDO’s merger with Moore Stephens we now have access to a much wider pool of experts. This has enabled us to expand our services, both in tax-related and other areas, including:
Research & Development (R&D)
Our expanding Innovation and Technology Group includes R&D tax professionals and over 30 qualified engineers/scientists who are experts in many fields in which innovative developments are taking place. They are able to enhance R&D claims by using their expertise to:
- Understand the innovative processes your client has undertaken
- Identify projects that qualify for R&D relief
- Maximise claims
- Prepare comprehensive technical reports to accompany R&D claims
- Deal with HMRC enquiries, to bring claims to a successful resolution;
- Advise on and assist with claims for local growth grants and project-related grants for R&D work.
HMRC’s newly released compliance check figures show that HMRC is reviewing £611m worth (about 13%) of R&D claims. In contrast, BDO has a less than 0.7% enquiry rate on the claims we submit, as we adhere closely to HMRC guidelines, and use experienced teams of engineers/software developers and tax specialists to prepare our clients’ R&D claims. This reduces the likelihood of HMRC enquiry and minimises the time requirements of our clients’ technical professionals on the claims, while still optimising the benefit to which they are entitled.
Our R&D team are also able to work with you to identify companies amongst your client base that may be eligible to make R&D claims, helping you to demonstrate a proactive approach to your clients.
The enlarged R&D team also includes a team of creative industry specialists who use their skills to maximise claims for all types of creative industry tax reliefs, and R&D relief.
George Ononuju (tel: 020 7509 9485; email: [email protected]).
Capital Allowances (CA)
Our CA team comprises specialists dual qualified as Chartered Surveyors and tax professionals focused on CA and associated tax reliefs. Our team are experts on the tax legislation and fully understand buildings and construction, to ensure that tax allowances and reliefs on expenditure on the construction, refurbishment and fitting out of buildings, structures and assets are fully considered to optimise the available allowances and reliefs.
The team also advises clients in respect of property acquisitions and disposals to ensure that the transactions are correctly structured, and that capital allowances are valued, pooled and transferred correctly. We advise clients in respect of all areas of commercial properties and assets including commercial offices, hotels, retail, manufacturing, care homes, student accommodation and renewables, etc.
Our Stamp Taxes team is able to assist with all aspects of Stamp Duty, Stamp Duty Land Tax (SDLT) issues, together with Land and Buildings Transaction Tax (in Scotland) and Land Transaction Tax (in Wales).
In particular, we can assist with requesting SDLT refunds for multiple dwellings relief and additional dwellings higher rate charges.
Tax Dispute Resolution (TDR)
Our TDR team is one of the biggest in the country, with vast experience in dealing with complex disclosure and enquiry cases. It brings its extensive experience and expertise of handling tax disputes to bear in order to minimise the stress, disruption and costs of a tax dispute, guiding you and your client through the process of reaching a solution with HMRC as effectively as possible. Unfortunately, with the potential for taxpayer prosecution, it is unable to provide anything but generic advice unless engaged directly with your client.
Please contact Richard Morley (tel: 0207 893 2878; email: [email protected]).
The TSP Tax Dispute Resolution service
Other BDO service lines
BDO has also developed new service lines, including:
Corporate Criminal Offence (CCO)
All organisations, regardless of their size, are subject to the CCO provisions, which could lead to criminal penalties if an “associated person” criminally facilitates tax evasion. A defence is available where the organisation has taken certain actions, including carrying out a risk review and providing appropriate training to its staff.
BDO has developed a range of services in this area which can be tailored for your firm and/or your clients. In particular, an online training module is available which can be rolled out to all staff.
Please contact James Egert (tel: 020 7893 2237; email: [email protected]).
National Minimum Wage (NMW)
BDO’s Global Employer Services team is now able to provide NMW advice, following its recruitment of a former member of HMRC’s NMW investigations team who was responsible for training the large influx of new Inspectors when HMRC expanded that team.
As well as assisting with NMW questions generally, we can also assist an employer to prepare for an NMW visit.
International Social Security
BDO’s Global Employer Services team also advises on International Social Security matters. It is also now able to assist in obtaining exemption certificates.
Please contact George Milmine (tel: 020 3219 4322; email: [email protected]).
BDO’s Indirect Tax team is able to advise on customs duties. It can also assist with obtaining Authorised Economic Operator certification, reducing a business’s risk profile with customs authorities and the ‘fast tracking’ of goods at EU borders.
Please contact Hakan Henningsson (tel: 02078933406; email: [email protected]).
Private Client Debt Advisory
Our Private Client Debt Advisory specialists are experts at dealing with debtor-led solutions for individuals seeking to reach a formal compromise of their debts and avoid bankruptcy. Should you have any clients facing financial difficulties, including tax debt, our national team can assist at competitive rates.
Company Secretarial Services
Our company secretarial team is able to assist with corporate transactions at very competitive rates, including share allotments, share transfers, capital reductions, share for share exchanges and demergers.
Please contact Mike Hutchinson (tel: 01483 408136; email: [email protected]).
The BDO valuations team has historically assisted many Taxline clients with share and patent valuations. It is now also able to provide property valuations, so please call them for help with April 2019 (or 2015) valuations, help with negotiating with the District Valuer, or any broader real estate-related issue.
For further information, see:
For share valuations, please contact Diane Elliott (tel: 020 7893 2979: email: [email protected])
For property valuations, please contact Craig Davies (tel: 020 7893 3337; email: [email protected]).
Defined Benefit pension scheme advisory
The BDO Pensions Advisory team advises companies and pension scheme trustees in relation to ‘employer covenant’ issues (basically, the financial strength of the company(ies) which sponsor a Defined Benefit (DB) pension scheme). This is a key component in setting the pension scheme liabilities and any required deficit recovery plan.
We can help companies and pension scheme trustees prepare for and manage expectations in advance of and through transactions or cash funding valuations (which all DB pension schemes need to go through at least every three years).
Companies may also want to present their employer covenant, or the impact of a transaction, to the pension scheme trustees in the most favourable light. Planning is also important for internal reorganisations where a group of companies sponsor a DB scheme.
New legislation is expected next year, which will place increased obligations on company directors and shareholders to notify pension scheme trustees of transactions at a Heads of Terms stage. If individuals fail to comply, this could potentially result in unlimited personal fines or imprisonment.
Matthew Gibson (tel: 0207 893 2845; email: [email protected])
John Hubbleday (tel: 0207 893 2256; email: [email protected]).