Muslim accountants who play by the rules
Are you worried whether your business is complying with accounting and tax laws and regulations?
Or maybe you want to ensure that you’re saving tax, using legal and halal methods only?
We are chartered accountants (ICAEW) and tax advisors based in the Square Mile, opposite Liverpool Street station, and have many clients with the same requirements.
Our approach is to obtain a full understanding of your business and to advise you accordingly.
Due to our expertise with UK accounting standards and tax legislation and tax cases, we are often able to devise strategies to minimise tax in a legal manner in a way that should stand up to scrutiny from HMRC.
Unfortunately, there are many “dodgy” muslim accountants who are either unqualified or simply do not know or follow the rules and their attempts at saving tax are merely tax evasion, which is highly illegal, and unlikely to be halal.
Tax evasion, such as hiding income or creating expenses, can result in heavy fines and penalties upto 100% of the lost tax. So if a business illegally saved £10,000 each year for 5 years, it could face a total bill of £100,000 if HMRC ever decided to investigate and found that tax had been deliberately concealed.
As muslims we also understand if you wish to avoid interest or usuary and can help you to setup structures which avoid interest or anything which is close to interest (many Shariah compliant products are very similar/close to interest bearing products).
We have also used international strategies to save tax for our clients with links to other countries.
Due to the risks of haram tax evasion, we rarely deal with cash businesses and only work with those who are willing to operate within the law. We have also previously declined to work with businesses which provide haram services such as those involved with alcohol, interest, gambling and of an adult nature.
Please contact us for a free, no obligation meeting.