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Private Client Advisory Accounting Services

The demand for specialised tax advice among private clients has never been greater. Globally, legislation has become more complicated, tax authorities’ attitudes toward tax planning are hardening, and the risk of investigation is continuing to increase. We pay close attention to our clients’ specific needs and strive to provide an outstanding service through practical, tailored advice that is specifically geared towards an individual’s goals and priorities.

Income and Capital Gains Tax planning

The UK tax system is complex and frequently changing but there a number of legitimate, non-aggressive ways of improving tax efficiency. Our team of experts have years of experience navigating this system and as such can help you understand the rules and, more importantly, the reliefs and exemptions that are available to you. We can break these down for you and walk you through the intricacies, as well as prepare calculations based on different scenarios and decisions that you make.

Inheritance tax planning

Evaluating your likely Inheritance Tax exposure begins with gathering an overview of everything you own and owe, assessing what reliefs and exemptions might apply to those upon your death, and understanding how to improve on that. We carefully listen to what is important to you and assist you in striking a balance between making gifts during your lifetime and ensuring that you have enough to maintain your lifestyle. We offer an integrated approach to tax and financial planning and we can provide you with sound professional advice, giving you peace of mind before making any decisions.

Succession and estate planning through trusts and/or corporate structures

Choosing the right structure to give your family an effective way of passing wealth down the generations whilst protecting against issues such as marital breakdown, bankruptcy and family disputes is key.  We can help you to navigate the pros and cons of the various trust and corporate options to find the right solution for you. We can then support you through formation and administration and be on hand to ensure it remains fit for purpose.

Family office services

We’ve worked with a variety of shapes and styles of family offices over the years and can use our knowledge and experience to provide you with a better service, whether you want to engage in a large strategic project, outsource your compliance work or simply find a specialist for a one-off piece of advice. If you would like to put a family office in place, or use us as your family office, our experts will help you to explore your options. Taking the effort to understand the purpose and goals of your family office from the beginning will alleviate a lot of tension and guarantee that you develop on solid and sturdy foundations. We can then assist you with the creation and implementation of your plans throughout the process.

Business exit planning

Whatever your business size, we can help you formulate a plan that works for all stakeholders and maximises your returns.

New wealth advice – inheritors/divorcees/lottery winners/business sellers and so on

We can guide you through making a plan for structuring your new-found wealth and can help with financial education, support and guidance for you or your family members so that you can be confident you are well positioned and supported going forwards.

International and Non-Domicile Tax

Whether you are thinking about moving to the UK or leaving, how to structure an inbound investment into the UK, or you wish to explore whether you can take advantage of the generous non-UK domicile tax rules, we can help you plan your finances in a pragmatic, effective, and appropriate manner. We act for clients who have a UK tax footprint for a variety of reasons and can aide you whether you are an investor, an entrepreneur, an internationally mobile employee, a trust fund beneficiary and so on.

Personal Tax Compliance

Alongside strategic tax planning, we also provide a range of compliance based personal tax services such as

  • Personal tax returns and business accounts
  • Trust returns and accounts
  • Repayment claims
  • ATED returns
  • Automatic exchange of information reporting
  • Forms 50fs

Tax Investigations/Bringing your tax affairs up to date

We can take the burden off your shoulders and minimise the impact on you, whether the enquiry is the consequence of a tax reporting mistake or a misunderstanding of the UK’s complicated tax legislation. In the event that something goes wrong and you find that you have not reported something or that you have paid the incorrect amount of tax, we can assist you in making the necessary disclosures to HMRC and getting your affairs back on track.

For more information about our Private Client Advisory services
please get in touch.
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Property Watch – April 2023 UK residential property transactions

In this article, we look at the UK residential property transactions for UK housing market transactions for the year to 30 April 2023 with comparatives for the same period to April 2022.

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Top 10 tips to minimise Capital Gains Tax (CGT)

Capital Gains Tax (“CGT”) is a complex tax with different rates of tax being paid on the same transaction, depending on reliefs claimed, levels of income, and other gains in the year. So here are our ten top tips on how to minimise the tax you pay.

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The potential downsides of an EOT

While Employee ownership trusts (EOTs) may seem like an attractive option on the surface, there are several downsides that business owners should consider before deciding to pursue this route.

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The Benefits of Fractional IT Directors for Business Success

In this article, we will explore the advantages of engaging a fractional IT Director and how they can drive business success.

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Holding Companies – Why use them?

This video delves into the concept of holding companies and highlights three benefits of using them.

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Property Watch – March 2023 UK residential property transactions

In this article, we look at the UK residential property transactions for UK housing market transactions for the year to 31 March 2023 with comparatives for the same period to March 2022

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Are there tax implications on crypto assets for individuals?

HMRC recognizes crypto assets as intangible assets, which can potentially give rise to tax liabilities. To gain an understanding of the intricacies involved, please read this latest insight.

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6 ways to utilise liquid assets

When a company has excess cash not being utilised in a bank account, it may choose to invest that money in ways that can potentially earn a higher return than by simply earning a small amount of annual interest.

In this article we share 6 ways a company may better utilise its assets to become less liquid.

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Capital Allowances: Full Expensing Available to Limited Companies

From 1 April 2023, the previously introduced Super Deduction capital allowances at 130% are being withdrawn. In an effort to continue encouraging capital investment, read this article to find out what new measures have come into place.

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EOT – What does it mean for employees?

An employee ownership trust (EOT) is a unique type of trust that enables employees to own a stake in their company, providing them with a sense of ownership and control over the business. In this article we delve deeper into what an EOT means for employees.

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Property Watch – February 2023 UK residential property transactions

In this article, we look at the UK residential property transactions for UK housing market transactions for the year to 28 February 2023 with comparatives for the same period to February 2022.

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Changes to the Pension Annual Allowance

Recently, the Spring Budget announced a change in Pension Annual Allowance that may impact small business owners or sole traders. we have created a short video that provides clarity on what the change means and what steps you should take next.

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Ballards Acquire Creative Design Agency

Ballards LLP has made the move to purchase CreativeFolks in an effort to expand its service offerings as clients look for a more “holistic approach” to their business needs.

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EMI Administration Simplification

The recent budget saw some welcomed simplification to the strict rules that need to be adhered to for Enterprise Management Incentive(EMI) options to qualify for the generous tax breaks provided by the scheme.

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Setting up an Unlimited Company – The Risks and Benefits

When setting up a new business it is important to consider the legal structure that best suits your needs. There are several forms that this can take, including trading as a Sole Trader, a Partnership, a Limited company and an Unlimited company, among others.

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The Fractional IT Director Service

In this short video, I will outline three key advantages that your business can gain from appointing an IT Director. 

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Additional Tax Relief for R&D Intensive SME Companies

A technical note has been released, ahead of legislation due to be published later this year in relation to additional tax relief available for R&D intensive SME companies.

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What Is The Patent Box Regime?

The UK government implemented the Patent Box tax structure in 2013. The regime offers a lower rate of corporation tax on earnings from patented discoveries in order to encourage businesses to invest in research and development (R&D). In this article, we will explore what the Patent Box regime is, how it works, and what kind of projects it could be used for.

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Ballards Have Charity Efforts All Wrapped Up For Worcester’s Foodbank

Kind-hearted staff at Ballards LLP broke out the paper and sellotape to wrap gifts as part of the Lowesmoor lifeline’s latest bid to help those most in need.

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Are you aware of the inheritance tax exposure on your business assets?

Business owners, are you aware of the inheritance tax exposure on your business assets?

If the answer is no, then you’ll want to watch this video, as I may have a great solution.

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Using Digital Technology To Make Better Business Decisions

In today’s world, businesses are facing increased pressure to make informed decisions that drive growth and success. To do this, they need access to accurate and timely data, and the ability to analyse it effectively. Digital technology has revolutionised the way businesses operate, and can be a powerful tool for making better business decisions.

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Property Watch – January 2023 UK residential property transactions

In this article, we look at the UK residential property transactions for the UK housing market transactions for the year to 31 January 2023 with comparatives for the same period to January 2022.

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Mortgage relief restriction – Does the change in interest rate affect landlords?

You will be aware of the recent increases in the Bank of England base rates which currently stands at 4%, up from an all-time low of 0.1% only just over a year ago. What you may not have realised yet is what effect this has on a non-corporate landlord’s tax position.

With the advent of higher interest rates, the restriction to claiming higher rate tax relief on mortgage interest is becoming increasingly important.

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Basis Period Reform: Everything you need to know

The Basis Period Reform, find out how this may affect you and your available options.

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Property Watch – December 2022 UK residential property transactions

In this article, we look at the UK residential property transactions for the UK housing market transactions for the years 31 December 2021 and 2022 as reported by HMRC through Stamp Duty Land Tax (SDLT) reporting.

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Making R&D claims – Are you providing detailed work evidence?

It may be clear to you that you are undertaking innovative and qualifying activities for R&D purposes, however, it needs to be presented to HMRC in a clear and understandable way to evidence that it meets the criteria for relief.

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Changes to VAT penalty regime

For VAT periods starting on or after 1 January 2023, HMRC has abolished the old surcharges and changed the way penalties are applied to late returns. Here is everything you need to know.

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Teens to Retirees – HMRC reveals who files a tax return

Did you know 16% of those who filed tax returns for the 2020–2021 tax year were 65 years of age and older?

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How long do we need to retain business records?

Having complete business records in place allows you to answer any queries HM Revenue and Customs may have. But how long do you have to retain these records? The answer depends…

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How to write an accurate business case

You want to invest, but you don’t know how much to invest, what to invest in or when to invest. In times like this, we turn to a business case.

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Property Watch – November 2022 UK residential property transactions

In this article we look at the UK residential property transactions for the UK housing market transactions for the years 30 November 2021 and 2022 as reported by HMRC through Stamp Duty Land Tax (SDLT) reporting.

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Selling Residential Property – Do I need to pay tax?

This is a question I’m often asked; in this video, I give my answer in relation to selling residential property and paying tax on the sale. 

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The tax implications of making a loan to an employee

Businesses with spare cash are increasingly helping out their employees with short-term loans, especially due to the cost of living increases. If you are thinking of doing so, here are the things you need to know.

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Sign of the times as food bank chosen by accountants

Ballards will be working with Worcester Food Bank to provide emergency food parcels to people in the city.

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What is a Current State Assessment?

The first step on a Digital Transformation journey is the most important. But ask yourself – How do I know which direction to take if I don’t know where to start? 

Have you heard of a Current State Assessment?

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R&D Changes – Autumn Statement

As an area that we specialise in, we paid particular attention to the R&D updates in the Autumn Statement.

Learn more about the key announcements impacting R&D Tax Relief Claims.

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Business Records – How long do we need to retain them?

Having complete records in place allows you to answer any queries HM Revenue and Customs may have. But how long do you have to retain these records? The answer depends…

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Are there tax implications of making a loan to an employee?

Businesses with spare cash are increasingly helping out their employees with short-term loans, especially due to the cost of living increases. If you are thinking of doing so, here are the things you need to know.

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5 Things you didn’t know about Cloud Accounting

In this video, we share the 5 ways in which my clients are saving time and money using Cloud Accounting Software.

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Property Watch – October 2022 UK residential property transactions

In this article we look at the UK residential property transactions for the UK housing market transactions for the years 31 October 2021 and 2022 as reported by HMRC through Stamp Duty Land Tax (SDLT) reporting.

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Risk mitigation in project management

When I start managing a new project, one of the first things I ask myself and the project team to consider is: “What could go wrong, and if it does how serious is it going to be ?”

There are various methodologies for managing risks, here are 5 steps which you may find useful when delivering large, complicated transformation projects.

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Making Businesses Green, it’s not easy, or is it?

Budgets are tightening, consumers are struggling, and you might be asking yourself if you can afford to be Green. Then throw into the mix, the dizzying array of choices or approaches and seemingly contradictory advice; doing the right thing can feel impossible. This article discusses a few ways in which you might encourage some industrially green shoots.

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Making Tax Digital is coming on the 6th April 2026, are you ready?

Are you an individual subject to income tax on the profits of your trade, profession, vocation, or property business? Making Tax Digital is coming in 2024, are you ready?

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A modern technology fail

We want to share an experience where a company failed to implement modern technology, this in turn had implications on their business, reputation, and most likely potential profit.

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I want to invest in solar panels for my home – should I use my limited company to do so?

As gas and electricity prices rise, an increasing number of people are turning to solar panels to try to cut costs. The question then arises – how can I do this most tax-efficiently?

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Property Watch – September 2022 UK residential property transactions

In this article we look at the UK residential property transactions for the UK housing market transactions for the years 30 September 2021 and 2022 as reported by HMRC through Stamp Duty Land Tax (SDLT) reporting.

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Failure is an option – R&D Tax Relief

Bringing to you another misconception of R&D Tax Relief – the idea that a project must be successful to qualify. This is not the case…

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IT and Software suppliers love lazy buyers

When buying a car, you wouldn’t simply walk into a showroom and pay the price on the windscreen of the car without negotiating – so why would you do this when buying software or IT services ? Unfortunately, far too many times I hear of businesses doing exactly that.

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Property Watch: August 2022 UK residential property transactions

In this article we look at the UK residential property transactions for the years to 31 August 2021 and 2022 as reported by HMRC through Stamp Duty Land Tax (SDLT) reporting.

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Cars and Commercial Vehicles – Everything you need to know

Are you buying a van or a car? And why does it matter? When it comes to buying vehicles for use in the business, there is a big difference tax-wise between cars and commercial vehicles. Here’s why it matters..

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