B&B Press Room >

29.04.08: Warwickshire forums help businesses become more successful

Shown is Frank Nash, a tax partner for Burgis & Bullock, Chartered Accountants & Business Advisers

A Warwickshire-based firm of tax advisers is celebrating after helping its clients to save nearly £10m of tax in the run up to 5 April 2008.

Burgis & Bullock, Chartered Accountants and Business Advisers has a specialist team of in-house tax advisers who closely examined the major tax changes announced last year in order to help their clients save money.

Commenting, Frank Nash a tax partner in their Leamington Spa office said:

“When Alistair Darling delivered his Pre-Budget report last October, he set in motion the last of a series of major tax changes all coming into force on 5 April 2008. Business owners and landlords were looking at increases in tax bills of some 80% whilst the major shift in the way family trusts are taxed has created a number of possibilities to save Inheritance Tax.”

After restructuring some £76m of their clients’ assets into various bespoke trusts and companies over the last two months, tax savings of £9.6m were achieved.

“With the UK economy becoming increasingly competitive, these tax savings will provide more working capital for family businesses.”  Additionally Frank comments: “More families are seeing the wealth they have created as the main means of saving for retirement or to fund properties for younger family members. It is a testament to the creative thinking of our tax team that we are able to make such a significant impact on our clients’ ambitions.”