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

BUDGET 2021: KEY HIGHLIGHTS

Meet The Team Shipleys Tax Advisors

AS THE ROLL out of the vaccine continues apace, UK Chancellor Rishi Sunak held back on the promised heavy taxation changes but instead opted for a light touch.

In today’s Shipleys Tax note we look at the highlights and what it means for you.

At a glance Budget 2021 announcements:

  • Furlough extended until September 2021 and extra Self Employment Support grants made available with potentially more qualifying.
  • Personal Allowance frozen for 5 years – this means that for tax years ended 5 April 2022 until 5 April 2026, you will be able to have an annual income of £12,570 before paying any tax, and you will be taxed at the higher 40% rate (32.5% for dividends) once your income exceeds £50,270. This will effectively push more and people into the higher tax rates as earnings increase.
  • Corporation tax increase from 19% to 25% – the 25% rate will apply to companies whose profits are above £250,000. Where a company’s profits falls between £50,000 and £250,000, a (complex) tapering calculation will apply, thereby allowing companies to grow gradually without paying at the top rate.
  • 2 Year “Super Tax Deduction” on business investments – a new “super deduction” of 130% of capital expenditure on new qualifying plant and machinery will apply from 1 April 2021 to 31 March 2023 (when the 25% rate of CT starts). The 130% deduction applies to business assets which would be eligible for the main capital allowances. Businesses which are able to invest heavily in plant and machinery within the next two years will benefit from the business tax cut before the increased corporation tax rate of 25% kicks in. 
  • Extension of losses being carried back against tax – many companies will have made losses during the Covid-19 pandemic, therefore relief is provided for loss-making business to carry back losses by up to 3 years for up to £2m of losses per group in each of the financial years 2020/21 and 2021/22.  This £2m cap applies only to the extended carry back, so there is no change to the unlimited carry back of losses to the previous 12 month accounting period. 
  • Stamp Duty holiday extended – the current Stamp Duty nil rate band of £500,000 for residential property acquisitions in England and Northern Ireland will be extended from 31 March to 30 June 2021, with a reduced nil rate band of £250,000 for acquisitions between 1 July and 30 September, after which it will revert to £125,000.
  • Restart grants – https://www.shipleystax.com/2021/03/restart-new-grants-for-small-businesses/
  • VAT 5% extended for 6 months then 12.5% thereafter – an extension to the temporary 5% rate of VAT until 30 September 2021. A new reduced rate of VAT of 12.5% will then be introduced from 1 October 2021 until 31 March 2022 after which the standard rate of VAT (20%) will apply
  • Freeports – eight new freeport sites have been announced. Expenditure within designated freeports will attract the following reliefs:
  1. Enhanced Structures and Building Allowances at 10% for buildings brought into use by 30 September 2026;
  2. 100% enhanced capital allowances for companies incurring qualifying expenditure on plant and machinery within Freeport sites until 30 September 2026.

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.

RESTART – New grants for small businesses

Meet The Team Shipleys Tax Advisors

IN THE BUDGET 2021 the Chancellor will unveil £5bn support package to help small businesses stay afloat until restrictions are lifted.

Under the scheme it is thought that non-essential retail businesses will be able to apply for grants of up to £6,000; while pubs, restaurants, hotels and leisure businesses will be able to apply for grants up to the full amount of £18,000.

Where can you get your Restart Grant?

The Restart Grant scheme, administered by local councils, will help most small business owners including those running shops, pubs, clubs, hotels restaurants, gyms and hair salons.

Non-essential retail businesses will get up to £6,000 per premises through the Restart Grant scheme to help them reopen. Shops will reopen no earlier than April 12, according to the Government’s Covid-19 roadmap.

More Restart Grant money will be available for any small business in hospitality, accommodation, leisure, personal care and gyms, which will reopen later and will be more affected by restrictions. They can receive up to £18,000, depending on their rateable value.

The Restart Grant scheme will replace the monthly Local Restrictions Support Grant (Closed) and Local Restrictions Support Grant (Open), which will both close at the end of March.

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.

Electric cars – still tax efficient from April 2021?

Meet The Team Shipleys Tax Advisors

For 2020/21, it was possible to enjoy an electric company car as a tax-free benefit. While this will no longer be the case for 2021/22, electric and low emission cars can remain a tax-efficient benefit.

In today’s Shipleys Tax note we get up to speed on the changes afoot and whether this can affect your buying choices.

How are electric cars taxed?

Under the company car tax rules, a taxable benefit arises in respect of the private use of that car. The taxable amount (the cash equivalent value) is the ‘appropriate percentage’ of the list price of the car and optional accessories, after deducting any capital contribution made by the employee up to a maximum of £5,000. The amount is proportionately reduced where the car is not available throughout the tax year, and is further reduced to reflect any contributions required for private use.

The appropriate percentage

The appropriate percentage depends on the level of the car’s CO2 emissions. For zero emission cars, regardless of whether the car was first registered on or after 6 April 2020 or before that date, the appropriate percentage for electric cars is 1% for 2021/22. For 2020/21 it was set at 0%.

This means that the tax cost of an electric company car, as illustrated by the following example, remains low in 2021/22.

Example

Jaz has an electric company car with a list price of £30,000. The car was first registered on 1 April 2020.

For 2020/21, the appropriate percentage for an electric car was 0%, meaning that Jaz was able to enjoy the benefit of the private use of the car tax-free.

For 2021/22, the appropriate percentage is 1%. Consequently, the taxable amount is £300 (1% of £30,000).

If Jaz is a higher rate taxpayer, he will only pay tax of £120 on the benefit of his company car. If he is a basic rate taxpayer, he will pay £60 in tax. This is a very good deal.

His employer will also pay Class 1A National Insurance of £41.40 (£300 @ 13.8%).

For 2022/23 the appropriate percentage will increase to 2%.

Low emission cars

If an electric car is not for you, it is still possible to have a tax efficient company car by choosing a low emission model.

The way in which CO2 emissions are measured changed from 6 April 2020. For 2020/21 and 2021/22, the appropriate percentage also depends on the date on which the car was first registered as well as its CO2 emissions. For low emission cars within the 1—50g/km band, there is a further factor to take into account – the car’s electric range (or zero emission mileage). This is the distance that the car can travel on a single charge.

The following table shows the appropriate percentages applying for low emission cars for 2021/22.

Appropriate percentage for 2021/22 for cars with CO2 emissions of 1—50g/km
Electric rangeCars first registered before 6 April 2020Cars first registered on or after 6 April 2020
More than 130 miles2%1%
70—129 miles5%4%
40—69 miles8%7%
30 – 39 miles12%11%
Less than 30 miles14%13%

As seen from the table, choosing a car with a good electric range can dramatically reduce the tax charge. Assuming a list price of £30,000, the taxable amount for a car first registered on or after 6 April 2020 with an electric range of at least 130 miles is £300 (£30,000 @ 1%); by contrast, the taxable amount for a car with the same list price first registered before 6 April 2020 with an electric range of less than 30 miles is £4,200 (£30,000 @ 14%).

The moral here is to choose a new greener model and you will be rewarded with a lower tax bill.

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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Contact us

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

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