We have gathered a team of experts

from a range of leading professional backgrounds

Meet The Team

Chartered Tax Advisers: The Gold Standard

Shipleys Tax is a tax driven practice lead by members of the The Chartered Institute of Taxation (Chartered Tax Advisers). This is considered the “gold standard” for those specialising in all aspects of taxation.

Practice partners

The partners work alongside a talented team of tax and accountancy professionals. Together they hold over 55 years worth of high level tax planning, audit and accountancy expertise and have trained with Big 4 accountancy firms KPMG and Ernst & Young.

  • Co-founder and head of Tax Planning.
  • Over 19 years in tax planning HNWIs and Trusts.
  • Qualified Chartered Tax Adviser (CTA) with Big 4 accountancy firm KMPG and was a Senior Tax Planning manager.
  • Previously held key positions at big 4 firms: Ernst & Young and PKF.

Shabeer is passionate about providing down-to-earth, practical tax solutions in answer to even the most complex of problems; he always ensures that through Shipleys’ services that the end client receives true value for money.

Email: info@shipleystax.com
Telephone: 0114 272 4984

  • Co-founder and Head of Tax and VAT.
  • 19 years experience in tax planning and consulting for OMBs, multinational companies.
  • Formerly served as senior technical consultant with Croner Consulting.
  • Qualified CTA with big 4 accountancy firm Ernst & Young specialising in corporate tax and overseas taxation.
  • Previously worked within top ten firm Baker Tilly and Gordons as a tax manager.

Expertise: GPs/Dentists and Pharmacies, corporate and international tax, loan relationships, company reconstructions and group planning, IR35, VAT and Charities.

Having worked with and advised other professionals Abdul believes there is no substitute for solid, clear advice for those seeking a robust tax planning and accountancy service.

Email: info@shipleystax.com
Telephone: 0114 272 4984

  • Head of Accounts and audit assistance.
  • Over 14 years’ high level experience in Audit and Accounts.
  • Trained and qualified with Ernst & Young as a Senior Assurance Consultant before working at other accountancy practices within the top ten UK firms.
  • Significant experience in Auditing large PLC companies and dealing with FDs & FCs of FTSE 100 companies.
  • Management experience of auditing and accounting SMEs, Legal and Medical Profession, Charities and Not-for-Profit Organisations.

Expertise: Auditing and Accounts preparation for Solicitors, Dentists and GP surgeries, VAT, Charities, Grant funding, Business Planning.

Masood steadfastly believes that the key to managing a successful client relationship is to provide each client with a highly personalised level of service, as well as being proactive in his approach to each accounting problem.

Email: mk@shipleystax.com
Telephone: 0114 272 4984

  • Over 30 years tax experience across a plethora of tax areas.
  • After qualifying in tax Ken moved to a top 30 tax firm in London as corporation tax manager dealing with quoted group of companies.
  • Company reconstructions; MBOs; purchase of own shares; acquisitions/sales and due diligence work.
  • Tax planning strategies involving employee trusts (EBTs, E-Furbs); SDLT mitigation; income tax/capital gains tax/IHT sheltering; profit extraction; company capital gains mitigation and briefing tax counsel on proposed strategies.
  • Recognised expertise on employment-related shares including HMRC-approved EMI options; unapproved share schemes and technical issues and employment status enquiries.
  • Extensive experience of contentious technical disputes with HMRC, with successful outcomes on many issues.

Email: ken@shipleystax.com
Telephone: 0114 272 4984

  • Over 30 years experience in taxation.
  • ICAEW Tax and the Finance & Management Faculties member; member of the Council of the Chartered Institute of Taxation.
  • Formerly a Senior Manager at KPMG and latterly at RSM Robson Rhodes.
  • Lecturer in tax for branch meetings of the Chartered Institute of Taxation and Sheffield Hallam University on property taxation.

Email: chris@shipleystax.com
Telephone: 0114 272 4984

  • Extensive background in litigation and regulatory compliance. Babul deals with dispute resolution, business issues, contracts, property and employment related legal issues.
  • Settling cases of high value (up to £1 million).
  • Trustee of Yorkshire Water Community Trust since 2010.
  • Recent Trustee of £1 million pound trust
  • Trained mediator.

Email: bob@shipleystax.com
Telephone: 0114 272 4984

  • As an ex-Inspector of Taxes and former Ernst & Young manager, Sean has spent more than 20 years working on both sides of the tax industry, at one time leading HMRC investigations and at others defending clients against them.
  • Sean is a highly-regarded tax consultant and tax accountant who specialises in Tax Investigations and Tax Risk Management.
  • During his career he has helped minimise the tax liabilities of private individuals and small and medium-sized (SME) business through to FTSE 100 and Blue Chip companies.
  • This experience has left us uniquely qualified in being able to provide tax advice and resolve tax problems in a way which can withstand the intense scrutiny of HMRC.
  • This is because we have first-hand knowledge of HRMC operating procedures, giving us an invaluable insight in how best to advise clients on the complex tactics and strategies HMRC employs.

Email: sean@shipleystax.com
Telephone: 0114 272 4984

Ian has over 20 years experience within the VAT world. His first 8 years experience were gained with Customs & Excise, working as a VAT inspector throughout the Yorkshire and Humberside region and acting as a trainer throughout the North. Ian’s past 12 years have been spent working for a variety of VAT service providers, including two ‘big 4’ and one ‘top 10’ accountancy practices, a large regional accountancy practice and a VAT service boutique. From entering private practice as an Assistant Manager Ian achieved promotion to Director leading a team of consultants.

Email: ian@shipleystax.com
Telephone: 0114 272 4984

Testimonials

Company news

Tax advantages of using a property LLP

Meet The Team Shipleys Tax Advisors

IF YOU JOINTLY own property with family, an LLP might be the most tax-efficient way to run your property business, especially if you have a differing income split. In today’s short article Shipleys Tax explains some of the basic tax advantages in using an LLP.

What is an LLP?

A limited liability partnership (LLP) can be used for a property business and offers some advantages over unincorporated businesses and limited liability companies. A property LLP is something of a halfway house, providing the comfort of limited liability with the flexibility as to how profits are shared.

The use of a property LLP can be particularly useful in a family tax planning situation where the individuals each hold property in their own name, but a different income split would be beneficial from a tax perspective.

Setting up a property LLP

Like a company, a property LLP must be registered at Companies House.

An LLP can hold property in its own right. The LLP can acquire property or the partners can transfer property that they already own into the LLP.

The use of a property LLP can be particularly useful in a family tax planning situation where the individuals each hold property in their own name, but a different income split would be beneficial from a tax perspective.

Transferring property into the LLP can be advantageous from a tax perspective. The property is held on trust in the LLP, but the underlying legal ownership is unchanged, meaning there is no SDLT to pay. Where a member transfers property into the LLP, the value of that property at the time of transfer forms the opening balance on their equity account.

Flexibility to share profits and losses

One of the key benefits of the LLP is the flexibility to share profits and losses. This provides the potential for a tax efficient distribution.

Where a property is sold realising a gain, the individual partners pay capital gains tax on their share of the gain.

The default position is to share profits and losses in accordance with the ratios on the members’ capital accounts. However, the ability to pay salaries in a different ratio provides flexibility to tailor the distribution in a tax efficient manner. Providing or withdrawing capital will also change the default profit sharing ratio.

Tax position

From a tax perspective, an LLP is transparent for tax purposes.

This means that the individual partners are treated as being self-employed and must pay income tax on their share of the profits, and also Class 2 and Class 4 National Insurance contributions where relevant.

Where a property is sold realising a gain, the individual partners pay capital gains tax on their share of the gain.

Each individual partner must return their income from the LLP on their personal tax return. The LLP must file a partnership return.

It is important that the LLP is carried on with a view to making a profit as anti-avoidance rules may apply which have the effect of switching the tax transparency off.

If you are affected by any of the issues above or would like more information, please call 0114 272 4984 or email info@shipleystax.com.

Please note that Shipleys Tax do not give free advice by email or telephone.

Grants for businesses affected by COVID-19

Meet The Team Shipleys Tax Advisors

MANY BUSINESSES have been forced to close as a result of the national and local restrictions introduced to slow the spread of Coronavirus. Where this is the case, the business may be eligible for a grant from their local authority. In today’s Shipleys Tax note we look at some options currently available for struggling businesses.

The following grant support is available to businesses in England during the second national lockdown. Grants to businesses in Wales, Scotland and Northern Ireland are subject to devolved rules.

Businesses closed due to national retractions

Business that were previously open as usual, but which were required to close between 5 November 2020 and 2 December 2020 as a result of the second national lockdown in England may be eligible for a grant from their local council for the 28-day period for which the national lockdown applies.

A business may qualify for a grant if it meets the following conditions:

  • it is based in England;
  • it occupies premises in respect of which it pays business rates;
  • it has been required to close between 5 November 2020 and 2 December 2020 as a result of the national lockdown; and
  • it has been unable to provide its usual in-person service from those premises as a result.

Businesses that qualify may include non-essential shops, leisure and hospitality venues and sports centres.

Business that normally operate as an in-person venue but which have had to modify their services as a result of the lockdown also qualify. An example here would be a restaurant that is not allowed to provide eat-in dining but which stays open for takeaways.

Businesses are only entitled to claim one grant for each non-domestic property.

Amount of the grant

The amount of the grant is based on the rateable value of the business premises on the first day of the second national lockdown.

Where the rateable value of the business premises is £15,000 or less, the business will receive a grant of £1,334 for each 28-day period for which the restrictions apply.

Where the rateable value of the business premises is between £15,000 and £51,000, the business will receive a grant of £2,000 for each 28-day period for which the restrictions apply.

Where the rateable value of the business premises is £51,000 or above, the business will receive a grant for each 28-day period for which the restrictions apply.

Applications should be made to the local council following the application procedure on the relevant council’s website.

Excluded businesses

A business is not eligible for a grant if it can continue to operate during the restrictions because the business does not depend on providing in-person services from their premises. Businesses that would fall into this category would include accountants and solicitors.

Businesses that are not required to close, but which choose to, are also ineligible for a grant.

A business which has exceeded the permitted state aid limit – set at €200,000 over a three-year period – is not eligible for further funding but may qualify for help under temporary Covid-19 measures.

Local restrictions

Where local restrictions are in force, businesses may qualify for separate grants if they are either forced to close or, where they can remain open, their business is severely impacted as a result of those restrictions. Details of the grants available where local restrictions apply can be found on the Gov.uk website.

If you are affected by any of the issues above and would like more information, please call 0114 272 4984 or email info@shipleystax.com.

Please note that Shipleys Tax do not give free advice by email or telephone.

Dubai changes company ownership laws

Meet The Team Shipleys Tax Advisors

IN A BID to attract wider investment and boost the gulf economies, UAE members have opted to remove one of the main barriers to trade – the requirement for a local sponsor.

Understandably, the changes to ownership laws being introduced across the UAE have received a warm welcome from the business community, who believe it will further facilitate doing business in the country and attract foreign investment.

In today’s Shipleys Tax we look at what’s changed and how it impacts on those looking to trade in the Gulf.

What are the reforms?

The reforms to companies’ law are broadly wide-ranging, but it is the removal of the requirement for a local sponsor for companies that operate onshore that is seen as the biggest potential incentive for investment flows into the country.

For companies that currently have sponsors it will reduce their operating costs and create a more competitive environment, it will further boost the number of onshore companies opening up.

This is part of a giant step forward along a path that the UAE has been undertaking for a number of years, but it is anticipated that this level of rapid change will have a significant impact.

It makes the UAE a much more attractive as a destination for foreign investment.

The removal of the requirement for a local sponsor will give entrepreneurs a greater sense of control over their own business and remove barriers to trade, aligning the economies with that of the UK and others.

It is also likely to provide an overall demand boost for commercial property, which has witnessed a few difficult years since the decline in oil prices which began in 2014.

The changes are part of a package of legislative reforms aimed at ensuring the UAE retains its position as the leading hub for regional and international business.

If you are affected by any of the issues above and would like more information, please call 0114 272 4984 or email info@shipleystax.com.

Please note that Shipleys Tax do not give free advice by email or telephone.

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  • info@shipleystax.com
  • 0114 272 4984
  • Wharf House, Victoria Quays,
    Wharf Street Sheffield,
    S2 5SY

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