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…
Government extends Furlough to March 2021 and increases self-employed support
THE UK GOVERNMENT has extended the furlough scheme until the end of March 2021.
The Chancellor announced today (November 5) that the Coronavirus Job Retention Scheme (CJRS) will be made available to all parts of the UK under the highest levels of Covid-19 restrictions until March 2021, with the government paying 80 per cent of wages up to a cap of £2,500.
The new CJRS, which was initially extended to 2 December, will be reviewed in January 2021 to decide whether economic circumstances have improved enough to ask employers to contribute beyond NICs and pension contributions.
For the self employed, the next iteration of the self-employed grant, which covers the period November to January, will also now increase to 80 per cent of average profits up to £7,500 over the three-month period.
Summary of the new CJRS measures
- The furlough scheme will now be extended until the end of March 2021
- Employees receiving 80% of their current salary for hours not worked.
- The next self-employed income support grant will also increase from 55% to 80% of average profits – up to £7,500
- Employers will only be asked to cover National Insurance and employer pension contributions for hours not worked. For an average claim, this accounts for just 5% of total employment costs or £70 per employee per month.
- The incentive of the £1000 Job Retention bonus will fall away. This was one-off taxable payment to the employer, for each eligible employee that was furloughed and was then continuously employed until January 31 2021.
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 we do not give free advice by email or telephone.
Furlough scheme extended as UK goes into lockdown again
SOMEWHAT BELATEDLY, the embattled UK government announced on 31 October that from Thursday 5th November 2020, England will go into lockdown and businesses such as non-essential retail and hospitality will close. At Shipleys Tax we have summarised how the extension will work below.
The overly complicated Job Support Scheme (JSS), which was due to launch on 1 November, will now be postponed.
Instead, the government will extend the Coronavirus Job Retention Scheme (CJRS/furlough scheme) until December, to help employers furlough their staff. Crucially, this new extension allows new claims to be made where previously this was denied.
…the government will extend the CJRS/furlough scheme until December, to help employers furlough their staff. Crucially, this new extension allows new claims to be made where previously this was denied.
The furlough scheme extension
- The Coronavirus Job Retention Scheme (CJRS) will now remain open until Wednesday 2 December and the JSS will be postponed.
- The extended CJRS will operate as before, with businesses being paid upfront to cover wage costs. Although initially, while HMRC update their systems, businesses will be paid in arrears.
- Employers do not need to have furloughed staff before to claim under this extended scheme.
- Employees must have been on the employer’s PAYE payroll by 23:59 on 30 October 2020.
- Full furlough grants will cover 80% of staff pay, to a maximum of £2,500 per person, per month. However, employers will need to pay National Insurance and pension contributions.
- Flexible furloughing and full-time furloughing will be allowed. Useful for employers that stay open but operate with fewer hours.
- A Real Time Information (RTI) submission notifying payment for that employee to HMRC must have been made on or before 30 October 2020.
- Employers may top-up employee wages above the scheme grant at their own expense if they wish.
- There will be no gap in eligibility for support between the previously announced end date of the CJRS and this extension.
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 we do not give free advice by email or telephone.
How to pay inheritance tax in instalments
INHERITANCE TAX is sometimes referred to as the “optional tax”. At Shipleys Tax we have experts who can help manage your inheritance tax exposure. However, did you know that you can arrange to pay inheritance tax in instalments for up to 10 years? This only applies to certain types of assets, and not any assets that have already been sold – in today’s Shipleys Tax news we look at this valuable option in detail.
Paying Inheritance tax
Inheritance tax is normally payable by the end of the sixth month following that is which the person died. So, for example, if someone died on 4 April 2020, any inheritance tax due on their estate would be due by 31 October 2020.
Often the deceased estate will include non-cash assets, such as property, shares and suchlike and the beneficiaries may need to sell some of the assets to realise the cash with which to pay the inheritance tax bill. The tax system recognises this and allows the inheritance tax on assets that may take some time to sell to be paid in instalments.
… you can arrange to pay inheritance tax in instalments for up to 10 years. This only applies to certain types of assets, and not any assets that have already been sold …
Instalment option
The executors must state on form IHT400 if they wish to pay inheritance tax in instalments. Inheritance tax on certain assets that take time to sell can be paid in equal annual instalments over 10 years.
However, if the assets have been sold, the tax must be paid in full.
Assets qualifying for payment in instalments
Inheritance tax can be paid in instalments on:
- Land, for example a house that a beneficiary keeps to live in or rent out;
- shares or securities where the deceased controlled more than 50% of the company;
- unlisted shares and securities worth more than £20,000 that represent either 10% of nominal value of the shares or 10% of the value of the ordinary share capital of the company.
Payment can also be made in instalments where at least 20% of the inheritance tax owed by the estate is on assets qualifying for payment in instalments and paying them in a single lump sum will cause financial difficulty.
Where there is inheritance tax still to pay on gifts in the form of buildings, shares or securities or all or part of a business, this too can be paid in instalments.
If the deceased estate includes a business that is run for profit, if IHT is due, this can be paid in instalments on the net value of the business, but not on the business assets.
Where the instalment route is taken, interest is payable on the second and subsequent instalments on both the full balance of the outstanding tax.
Payment dates
The first instalment is due on the normal IHT due date – the end of the sixth month after the month in which the deceased died. Subsequent instalments are due on this date each year for the next nine years.
Interest
Where the instalment route is taken, interest is payable on the second and subsequent instalments on both the full balance of the outstanding tax. Where an instalment is paid late (including the first instalment), interest is also payable on the instalment from the due date to the date of payment.
Clearing the bill
The outstanding bill and any associated interest can be paid off at any time. Clearing the outstanding debt may be a preferred option if the assets are sold at a later date. A final settlement figure can then be obtained from HMRC.
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 we do not give free advice by email or telephone.
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