Navigating the intricacies of tax laws can be overwhelming, but with S&V Bond Accountants, you can unlock a tailored Tax Relief Plan designed to maximize your savings and minimize your tax liabilities. Our expert team understands the nuances of tax relief schemes, ensuring you benefit from every available opportunity.
Think you might not meet the criteria? No worries! Subscribing to our Foundation Tax Relief Plan means that we can still claim back cash sums for you as a Minister of Religion.
HMRC CLEARED! NO CATCHES!
As you would expect, Ministers are subject to the obligation to submit a Tax Return annually because they are special cases. In completing Tax Returns for our Ministerial clients, we ensure that all the income received or receivable is recorded for tax purposes. This reduces the prospect of an HMRC Investigation, which can be a costly exercise where there have been omissions. Familiarity with Ministerial issues means that we know the questions to ask, and we can test the answers against the wealth of experience we have enjoyed over the years. This means that there are no nasty shocks, and you can have confidence in the Tax Return submitted, and the amount of tax you have to pay.
The other side of that coin is that our experience and understanding of Ministerial duties means that we know what you can claim, and can enhance your position by ensuring that nothing is missed out. In particular, “perks” enjoyed by Ministers need not bear tax if the right arrangements are in place. This is part of our service, and results in a reduction in your tax bill. In addition, some pastors have more than one source of income from their Ministry for tax: for instance a pastor might be established at a church and be employed by it (for which certain tax rules apply) whilst he might also be a freelance preacher, and might also be an author of spiritual works (for which a different set of rules apply). We can help in identifying how best to complete your Tax Return, and to arrange your tax affairs to your advantage.
Many young churches aspire to provide a manse for their pastor, but present finances do not always allow this. We can use the tax legislation to bring forward this provision to the advantage of both the church and the pastor. Would you believe that if the correct provisions are in place, a pastor will be financially better off and will pay less tax, and so will the church? For instance, on taking our advice, Pastor A so a saving in his personal tax bill of £ and his church paid less employment taxes of £ . All of this is within the law.
This is all about enjoying to the full the fruits of your labours. All pastors and ministers of religion are called to exercise proper stewardship of their gifts: this includes rendering to Caesar, and the careful use of the gifts they have received. Our Wealth Planning services include minimising your taxes, assisting with your current wealth planning,
and assisting with your succession plans. Finally: as you would expect with a firm of our experience and knowledge of the specialist rules, we only suggest arrangements that are tried and tested (even if they are little known to less specialist firms).
Indeed, we hide nothing from HMRC or the Charity Commission, so you can be sure that the arrangements we make for you are safe and approved. This is because we are specialists, who understand the calling of ministers of religion, so we aim to preserve your reputation in your work. In addition, do bear in mind that each person’s affairs are different, so you get a personal service that works for you.
Whether you’re a charitable institution seeking meticulous financial management or a business owner in need of strategic financial guidance, S&V Bond Accountants is here to help. Our dedicated team is ready to simplify your accounting processes, ensuring accuracy, compliance, and peace of mind. Get in touch today for a consultation. Let’s start a partnership that propels your success. Your financial journey begins here with S&V Bond Accountants.
