Let our clients tell you about us
Testimonials
The greatest compliment we receive is a client recommendation. Below are just a few of the kind words our clients have shared about working with Shipleys Tax.
The value of a close relationship
“We value the close working relationship we have with Shabeer and the specialist teams at Shipleys Tax and have found them very knowledgeable, friendly and quick to respond to our queries. Shabeer has attended several of our practice meetings and his advice regarding partnership succession issues has been invaluable. I would highly recommend Shipleys to other GP practices.”
Dr Khan, GP Surgery — Yorkshire
Dubai expat return — saved from a £1.2m UK tax bill
“After selling my business in Dubai I was planning to return to the UK the following year. A friend suggested I speak to Shipleys Tax before booking flights and it turned out to be the best decision I made. Shabeer quickly identified that I was about to walk into the temporary non-residence rules and face a UK tax bill in excess of £1 million on gains I had assumed were safely outside the UK net. With their guidance we restructured the timing of my return and my affairs completely legitimately — the tax saving was life changing. I cannot thank them enough.”
Imran — UK Entrepreneur, returning from Dubai
Fixed fee promise and no surprise bills
“One of the most frequent issues we had with our previous accountants was not being made aware, in advance, of the fees to be charged. Shipleys Tax were a breath of fresh air, always completely transparent — and no charges for any phone calls or meetings.”
FM Medical Practice — Manchester
CGT planning for dental practice sale
“Selling the dental practice I had built over 25 years was always going to be emotional, but I wasn’t prepared for the tax complexity. Abdul and the team at Shipleys Tax walked me through every option, explained the capital gains tax implications in plain English, and structured the sale in a way that saved me a significant amount of tax. Their attention to detail and proactive planning made all the difference — I only wish I had spoken to them sooner.”
Kevin — Derby, Dental Practice Owner
Property portfolio incorporation
“After Section 24 mortgage interest changes my buy-to-let portfolio had become a nightmare. I was paying tax on income I was never actually seeing. Shipleys Tax took the time to properly assess whether incorporation made sense for my specific situation — no hard sell, just honest advice. They modelled out ten years of projections, handled the entire restructuring including the SDLT planning, and now my portfolio is fit for the future. Genuine property tax specialists, not just accountants who dabble.”
Rashid — Leeds, Property Investor
Partner-led client service promise
“Accountants seem to promise the earth but don’t deliver do they? Well we found the opposite. Abdul made himself available on so many occasions and even on weekends when we had a really major panic with a sale. Really grateful to him for his advice and foresight. If we needed to talk, they listen. It really is that simple.”
Sabina — JL Healthcare
Inheritance tax mitigation and estate planning
“After losing my husband I was concerned about the inheritance tax exposure on our family estate. Shabeer took the time to properly understand our family situation before recommending anything. The advice I received on IHT mitigation was clear, practical and completely tailored to us — not an off-the-shelf solution. My children and grandchildren are now in a much better position and I have genuine peace of mind. I cannot recommend Shipleys highly enough.”
Louise — Leeds
Family Investment Company succession planning
“My family business had reached a point where I wanted to start bringing my children into ownership without giving up control or triggering a huge tax bill. Shipleys Tax designed and implemented a Family Investment Company structure that achieved everything I needed — I retain voting control, future growth passes to the next generation, and the inheritance tax position is now properly protected. Shabeer took the time to understand our family dynamics as well as the numbers, which was invaluable.”
James — Sheffield, Family Business Owner
GP practice incorporation
“Our GP partnership had been considering incorporation for years but no one could give us a straight answer on whether it was right for us. Shipleys Tax produced a detailed review of our specific circumstances, modelled out the tax savings over five years, and handled the entire incorporation process end to end. The transition was seamless and the tax savings have already exceeded their projections. A genuinely specialist firm that understands GPs.”
Gill — Manchester, GP Practice
HMRC tax investigation defence
“When HMRC opened an enquiry into my company, my existing accountants were completely out of their depth. A colleague recommended Shipleys Tax and within a week they had taken over the correspondence, identified the technical issues HMRC had got wrong, and put together a robust response. The case was closed within months with a fraction of the adjustment HMRC originally proposed. Their calm, experienced handling of what was a genuinely stressful time made all the difference. Having ex-HMRC Inspectors on their team was clearly a huge advantage.”
Dr Ahmed — Manchester, Private Practice Consultant
VAT reclaim for locum doctor agency
“We had been charging VAT on locum doctor supplies for years, assuming HMRC’s position was settled. When Shipleys Tax flagged the Isle of Wight tribunal decision to us, they didn’t just send a generic update — they actually reviewed our contracts, ran the numbers on partial exemption, and built a properly evidenced reclaim. The recovery was substantial and the process was completely painless on our side. The fact they understand both the VAT technical side and the commercial reality of running an agency made all the difference.”
Medical Staffing Agency — Yorkshire
Employee Ownership Trust exit
“I had built my company over 20 years and wanted an exit that looked after my staff rather than selling to a trade buyer who would strip it down. Shipleys Tax walked me through the Employee Ownership Trust route in detail — the pros, the cons, and honestly the complications too. They didn’t just sell me a product. When we went ahead they handled the entire transaction, including the HMRC clearance, and the result was exactly what I had hoped for. The team continues to thrive and my legacy is intact.”
David — Leeds, Business Founder
Going above and beyond
“I came to Shipleys Tax through a personal recommendation, at the time I was in a transitional period. I had already taken some steps towards self-employment, however I had no idea what I was doing and the information I received from others was inaccurate for what I needed. I needed someone to understand and help me resolve all the mess I was creating.
Abdul stepped in just at the right time. He dealt with all the paperwork, as well as giving me valuable advice on how to save tax, which was brilliant. I felt I was looked after, my needs taken care of without me feeling like being a burden.
I would recommend Shipleys to anyone that wants an experienced professional team. They are always eager to help and support your company and offer advice when needed, but above all they are always willing to go over and beyond expectation every time.”
Bella
Latest news & blogs…
Digital reporting for income tax delayed
THE GOVERNMENT HAS announced a further delay to the introduction of Making Tax Digital for Income Tax Self-Assessment, the government’s attempt to fully digitise the tax return sphere.
What is Making Tax Digital for Income Tax and why is there a delay? In today’s Shipleys Tax blog we look at the next step in the UK government’s master plan of the much vaunted “digital tax revolution”.
What is Making Tax Digital for Income Tax Self-Assessment?
This is essentially a personal tax reporting process designed to ultimately replace the current annual Self-Assessment tax return dubbed Making Tax Digital for Income Tax (MTD for ITSA).
Under MTD for ITSA, it is proposed that businesses, self-employed individuals and landlords will need to:
- keep digital records (much for like VAT records currently),
- send quarterly summary of their business income and expenses to HMRC using MTD-compatible software, and
- file quarterly estimated tax calculations based on the information provided to help them budget for their tax.
This is essentially a personal tax reporting process designed to ultimately replace the current annual Self-Assessment tax return dubbed Making Tax Digital for Income Tax (MTD for ITSA).
At the end of the year, they can make adjustments to finalise their tax affairs using MTD-compatible software. This will replace the need for a Self Assessment tax return. Clearly, not the simple overhaul the government would have us believe.
So what was the original plan?
Before today’s announcement, MTD for ITSA was mandated from April 2024 for taxpayers with a total gross income over £10,000 from self-employment and property in a tax year.
And now?
In a statement released on 19 December, the government finally acknowledged that MTD ITSA is a significant change for all concerned, and that launching a much criticised process during an economic crisis is not really the best thing to do. As such the plans have been revised as follows:
- MTD for ITSA will now be delayed until April 2026, with the self-employed and landlords with turnover in excess of £50,000 joining first.
- Those with income over £30,000 but not exceeding £50,000 will not need to join until April 2027.
- A start date for general partnerships has not yet been announced.
The government will also now review the needs of smaller businesses before asking those earning less than £30,000 to join.
Given the expected additional costs and administrative burden for small businesses this will undoubtedly be a very welcome change. However, HMRC will have its work cut out when operating different systems for self-assessment customers so further delays could well be on the cards.
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.
How to benefit from the £1,000 tax free property allowance
MAKING DECENT RETURN from rental income is getter harder and harder due to tax legislation changes and increasing costs. However, there is a small tax allowance which may help you turn a loss into a profit – all potentially tax free.
When paying tax on property income, there is a £1000 property allowance which allows you to earn up to £1,000 tax free. This allowance can be used in various beneficial ways.
In today’s Shipleys Tax blog we explore the many ways you can use your £1000 property allowance and start to maximise your rental income in some circumstances.
Tax exemption
If your income from property is less than £1,000, the property allowance allows you to receive that income free from tax. Where the income is covered by the allowance, you do not need to tell HMRC about it.
However, claiming the allowance may not be beneficial if your property income is less than £1,000, but your expenses are more than £1,000 so that you make a loss. Claiming the exemption will mean that the loss is lost. To preserve the lost, you must provide HMRC of details of your income and expenses on your tax return.
However, as the loss can only be set against future profits from the same property income business, if you do not expect future receipts to exceed £1,000, there may be little benefit claiming the loss. You may prefer instead to take advantage of the exemption, saving the work associated with establishing the loss.
Expenses less than £1,000
The property allowance can also be beneficial if your income from property is more than £1,000, but your expenses are less than £1,000. Where this is the case, you will not benefit from the exemption, but you can instead deduct the property allowance of £1,000 to arrive at your taxable profit. This will give a favourable result.
Example
Wendy has income of £3,000 from letting a flat. Her associated expenses are £600. Under the normal rules, her taxable profit is £2,400.
However, she can claim the property allowance and deduct £1,000 rather than her actual expenses of £600. This reduces her taxable profit to £2,400.
Jointly-owned property
Where a property is jointly-owned, each owner can benefit from the property allowance in respect of their share of the income. Where this is less than £1,000, the income is exempt and does not need to be reported to HMRC; where this is more than £1,000, the allowance can be deducted instead of actual expenses where this is beneficial.
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.
Autumn Budget Statement 2022
THE CHANCELLOR Jeremy Hunt belatedly announced his Autumn Statement today heralding a new phase of austerity and sneaky tax rises.
Here at Shipleys Tax we briefly look at what’s changed… again.
Personal tax
The Chancellor maintained that there were no increases to the headline rates of tax. However, this is somewhat misleading and does not mean that individuals won’t pay more income tax, quite the opposite in fact.
- The threshold at which the 45% rate of income tax kicks in will be reduced from £150,000 to £125,140 from 6 April 2023.
- The personal allowance will remain at the current level until April 2028. As wages are increasing, albeit at a lower rate than inflation, this means that earners will start to pay income tax. The freeze on the 40% tax rate threshold is paid has also been extended by two years to 2028.
- The tax-free dividend allowance will be cut to £1,000 from April 2023 then to £500 the from April 2024.
National Insurance
The employment allowance will remain at the current level of £5,000. The main NI thresholds will also be held at the current level until April 2028 meaning the amount businesses and individuals pay will increase.
Capital gains tax (CGT)
There is no change to the CGT rates, but the annual exempt amount will be cut from £12,300 to £6,000 from 6 April 2023, and then to £3,000 from April 2024.
Corporate Tax changes
- Confirmation of the increase in Corporation Tax to 25% from April 23.
- The £1 million level of the Annual Investment Allowance is being made permanent.
- R&D tax reliefs – for expenditure on or after 1 April 2023, the SME additional deduction will decrease from 130% to 86%.
Stamp Duty Land Tax (SDLT)
The increase in stamp duty land tax allowances to £250k for residential property will be retained, but only until 31 March 2025.
Company cars
- Electric vehicles will no longer be exempt from vehicle excise duty from April 2025.
- First Year Allowance for electric vehicle chargepoints – 100% First Year Allowance for electric vehicle chargepoints will be extended to April 2025.
Other announcements
- IHT – the nil rate band which is the amount an individual can leave tax free on death, will be frozen at £325,000 for a further two years until 2028.
- The energy profits levy will increase to 35% from 25% and extended from four to six years.
- National living wage to increase to £10.42 per hour from 1 April 2023.
- Tax avoidance – the government is investing a further £79 million over the next 5 years to increase HMRC’s capacity to tackle serious fraud, and to reduce non-compliance among wealthy taxpayers.
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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