Businesses regulated by the Financial Services Authority (FCA) operate within a complex regulatory framework.
The FCA’s challenging requirements go beyond the normal accounting standards and other legal requirements, such as the Companies Act, which all companies have to follow. Failure to comply with these rules can lead to action by the FCA and cause significant difficulties for firms.
At Haslers, we have extensive experience in working with FCA-regulated businesses, across a range of sectors, including Independent Financial Advisers, general insurance brokers (non-regulated products), travel agents and motor trade businesses.
In appointing tax advisers and accountants, FCA-regulated firms need to be sure that their professional advisers understand the FCA’s rules relating to issues including capital adequacy, regulatory reporting and record keeping.
The Haslers’ team has an in-depth knowledge of the financial services sector and a strong track record in working with clients on wide-ranging compliance and regulatory matters. Our experience and expertise inform our high quality advice and add real value to our professional relationships with FCA-regulated businesses.
The support Haslers provides
Our dedicated Tax Consultancy team provides comprehensive tax expertise to support FCA-regulated businesses in meeting FCA, tax and other compliance requirements while also operating tax efficiently.
Some of the key issues we deal with for FCA-regulated businesses are listed below, but we can offer support and guidance on all aspects of tax.
- Business structures – expert advice to ensure that the most appropriate and tax-efficient business structure is in place
- Capital adequacy rules – advice on tax-efficient arrangements that enable you to work within the rules
- Regulatory reporting – advice on relevant tax issues
- Personal, partnership and corporate taxes – ongoing compliance and planning advice
- VAT issues – including the VAT implications of the Retail Distribution Review
- Research and development – tax relief opportunities for businesses developing software to support their financial advice work
- Capital gains tax – maximising tax efficiency on the sale of a business
- Specialist advice on the tax treatment of investments
Our tax specialists offer comprehensive expertise and experience that enable our clients to deal effectively with current tax issues and plan ahead to maximise tax efficiency. To find out what we can do for you and your business, contact Jon O’Shea, Paul Reynolds or Debra Dougal.