Aster & Trujillo is an Anglo-Spanish multidisciplinary firm committed to delivering Legal, Tax and Accountancy services in the UK and Spain. We provide bespoke advice, guidance and support for overseas individuals and organisations wishing to set up and operate in the UK and Spain.
Aster & Trujillo in conjunction with Osmond & Osmond solicitors, have created a new model for legal services in Spanish & English providing a range of advice for individuals, privately-owned business, or multi-national enterprise.
Together we form a strong team of Spanish solicitors (abogados) and English solicitors that have extensive experience on comprehensive legal services under English law for hispanoparlantes (Spanish-speaking countries) and Spanish law for British or international clients in Spain.
Our regulated Abogados and English solicitors are offering high quality legal advice through their local knowledge to help our clients in their international and cross border transactions.
We understand the difficulties individuals and/or companies can encounter when dealing with different jurisdictions, different language, and different cultures. We have experience in assisting clients overcoming these difficulties and bringing their case to a satisfactory conclusion.
We will give you clear advice on where you stand, what your options are, including advice in relation to costs and timescales. We aim to provide high quality legal advice combined with value for money, and believe our rates are very competitive.
Concise information on the taxation issues you need to consider for both unincorporated and corporate businesses. Click on the links below to access the relevant information.
Our services focuses on the current tax position of business motoring, a core consideration of many businesses. The aim is to provide a clear explanation of the tax deductions available on different types of vehicle expenditure in a variety of business scenarios.
The cost of purchasing capital equipment in a business is not a tax deductible expense. However tax relief is available on certain capital expenditure in the form of capital allowances.
Small unincorporated businesses can calculate their profits for tax purposes on a cash basis rather than the normal accruals basis. We look at the optional rules that allow for this, while also taking in the key tax points.
Pre-year end tax planning is an important consideration and this factsheet outlines some of the key areas. Topics covered include corporation tax, capital allowances, dividends payments and capital gains.
Under corporation tax self assessment large companies are required to pay their corporation tax in four quarterly instalment payments. This factsheet considers the rules regarding these payments.
This factsheet explains the procedures for filing your company’s tax return and paying the tax due.
An optional system of fixed rate expenses applies for unincorporated businesses. We consider the optional rules which allow the use of a ‘simplified’ fixed rate deduction instead of actual costs.
Considerations when operating as a company on incorporation.
The ‘IR35’ rules are designed to prevent the avoidance of tax and national insurance contributions through the use of personal service companies and partnerships. This factsheet summarises what situations are caught by the rules and the implications of the rules.
Research and development (R&D) by companies is being actively encouraged through a range of tax incentives, which we consider in the points below.
The Construction Industry Scheme sets out special rules for tax and national insurance for those working in the construction industry. This factsheet considers the workings of the scheme.
Concise information on the tax issues relevant to both employers and employees.
Our services set out the main areas to consider and the tax and national insurance implications with employer provided cars.
An exemption regime applies for employee expenses which results in the expenses not only being tax exempt but non reportable on form P11D.
The tax and NIC exemption for employer-contracted childcare and employer-provided childcare vouchers has been very popular with both employers and employees alike.
The remuneration of many directors and employees comprises a package of salary and benefits.
It is now very common for many employees to work from home, but this does mean that it is important to understand how the rules work with this.
National Insurance contributions (NICs) are essentially a tax on earned income. The NICs regime divides income into different classes: Class 1 contributions are payable on earnings from employment, while the profits of the self-employed are liable to Class 2 and 4 contributions.
What you need to do to set-up and run your payroll.
A guide to the Real Time Information payroll rules.
Retaining and motivating staff are key issues for many employers. The Enterprise Management Incentive enables options to be granted to employees which may allow the shares to be received without any tax bill arising until the shares are sold.
Travelling and subsistence expenditure incurred by or on behalf of employees gives rise to many problems. This factsheet highlights the main areas to consider in deciding whether tax relief is available on travel and subsistence.
Concise information on a variety of topics relevant to an individual.
You can get tax relief on gifts to UK charities if you give under Gift Aid or through a Payroll Giving scheme or by making a gift of shares or land.
We consider the various responsibilities of being a Scottish Charity Trustee with particular emphasis on accounting and audit requirements.
Information regarding the High Income Child Benefit charge which applies to taxpayers who have income over £50,000 in a tax year where either they or their partner receive Child Benefit.
Savings and Dividends Allowances.
We look at how qualifying companies can get access to equity investment from new and, in some cases, existing shareholders.
ISAs are tax-exempt savings accounts available to individuals.
An introduction to the taxation in the UK of income arising outside the UK for non UK domiciled individuals.
Under self-assessment an individual is responsible for ensuring that their tax liability is calculated and any tax owing is paid on time. We summarise the rules and penalties for failing to comply with your obligations.
Advice on when key tax payments under Self Assessment are payable.
We consider what the key areas of for investing in property, looking at rental income, along with all the other costs and outgoings.
Investment in property continues to be a popular form of investment. On the basis that the investment appears to make commercial sense what tax factors should you take into account?
This is an area that usually appeals to start up companies, and those that invest within them. We look at why this is the case and what to consider.
The Statutory Residence Test provides, through a series of tests, a definitive process to determine the UK residence status of any individual. That status applies for income tax, capital gains tax and inheritance tax purposes.
We highlight the main areas to consider in regard to tax planning for family members and the minimisation of tax liabilities.
Tax-Free Childcare provides tax relief for individuals on their qualifying childcare costs. This factsheet considers the key principles and requirements.
Venture Capital Trusts (VCTs) offer similar to breaks to individuals as the Enterprise Investment Scheme. They provide an opportunity to invest in unquoted trading companies via a VCT thus spreading the investment risk over a number of companies.
Covering taxes on the disposal, generally by way of sale, of capital assets and the taxes due on death.
A capital gain arises when certain capital assets are sold at a profit. We consider the taxation of gains and outline the reliefs available.
We consider whether any tax is due on the sale of the family home and the availability of principal private residence and other reliefs.
Inheritance tax (IHT) is levied on a person’s estate when they die and on certain gifts made during an individual’s lifetime. We set out the principles.
We consider the Pre-Owned Assets rules, along with the rules for determining the income tax charge levied on the previous owner of an asset.
Land and Buildings Transaction Tax (LBTT) is payable by the purchaser in a land transaction which occurs in Scotland. This factsheet summarises the rates of LBTT which apply.
Land Transaction Tax (LTT) is payable by the purchaser in a land transaction which occurs in Wales. This factsheet considers the key principles and requirements.
We look at the key areas to consider for the purchaser in a land transaction, whether this is buying a house or creating a lease or assigning a lease, a purchaser is required to pay Stamp Duty Land Tax (SDLT).
We consider the basic principles of Trusts, looking at what they are, along with a range of anti-avoidance measures aimed at preventing exploitation of potential tax benefits.
Concise information on the VAT issues you need to consider when running your business.
VAT registered businesses act as unpaid tax collectors and are required to account both promptly and accurately for all the tax revenue collected by them.
The annual accounting scheme helps small businesses by allowing them to submit only one VAT return annually rather than the normal four.
This factsheet explains the situations where the VAT bad debt relief applies.
Cash accounting enables a business to account for and pay VAT on the basis of cash received and paid rather than on the basis of invoices issued and received.
The VAT flat rate scheme for small businesses potentially reduces the administrative burden imposed when operating VAT. Under the scheme, a set percentage is applied to the turnover of the business as a one-off calculation instead of having to identify and record the VAT on each sale and purchase you make.
This factsheet focuses on VAT matters of relevance to the smaller business. A primary aim is to highlight common risk areas as a better understanding can contribute to a reduction of errors and help to minimise penalties.
At Aster & Trujillo we provide all the key services that you need to make your company a success. Our experienced team work across a variety of sectors and industries, meaning we have the knowledge to help you achieve your goals.
Spanish taxation for British Nationals in Spain