Simon Odam BA (Hons) FCA, CTA

Practice area

Tax

Background and experience

Simon is a director at Wellden Turnbull and specialises in all areas of tax.  Simon qualified as an Associate Chartered Accountant in 2004 and Chartered Tax Advisor in 2006. He became a Fellow Chartered Accountant in 2014.

Simon has expertise in:

Setting up in business

•  Advising on setting up new businesses including what structure is best for your individual circumstances.
• The advantages of partnership or shareholder agreements.
•  How to take money tax efficiently from your business.
•  Enterprise Investment Scheme or Seed Enterprise Investment Scheme reliefs.

Buying a business

•  Advising on the best structure to purchase a business.
• Guidance through the purchase process including reviewing share purchase agreements, due diligence and liaising with other advisors.

Running a business

• Assisting with PAYE, VAT and Construction Industry Scheme and corporation tax returns.
• Growing a business including use of holding companies and subsidiaries.
• Corporation tax, including groups of companies, UK branches of overseas companies and overseas branches of UK companies.

Family owned businesses

• Issuing shares to family members.
• Incentivising key employees including use of Enterprise Management Incentive Schemes.
• Passing a business to the next generation including use of entrepreneurs’ relief and other holdover reliefs.
• Sale of a business.

Personal tax

• Capital gains tax, including principal private residence relief.
• Income tax reliefs and planning.
• Tax implications of divorce.

International issues

• Domiciled and non-domiciles coming to and leaving the UK.
• Residence issues.
• Double tax treaties and double tax relief.
• International structures.

Tax investigations

• Managing any inland revenue tax investigation on all areas of tax to ensure you get the best possible outcome.
• Penalty mitigation and suspension.
• Use of the Alternative Dispute Resolution Service and Tax Tribunals.
• Helping manage enquires into tax avoidance arrangements including film schemes and employee benefit trusts.
• Dealing with Advance Payment Notices and Follower Notices.

On and Offshore Trusts

• Setting up, running and closing trusts.
• Inheritance tax issues.
• Implications for settlors and beneficiaries.

Stamp Duty/Stamp Duty Land Tax and Annual Tax on Enveloped Dwellings

• The tax issues on purchasing property through various entities.
• Purchase, transfer and sale of property owning partnerships.

Inheritance tax, wills and probate

• Authorised to carry out and supervise all areas of probate work and assist executors with starting, administering and finalising an estate.
• Inheritance tax planning.

As Simon deals with all areas of tax he can provide practical, helpful advice in a straightforward manner on all aspects of an issue or transaction.