Simon Odam BA (Hons) FCA, CTA

Partner

Simon Odam
It’s important to us that we get to know the person behind the numbers to make sure that we can give you the best service and the highest quality bespoke advice, so you can meet your goals.
Simon Odam BA (Hons) FCA, CTA, Partner

Practice area

Tax

Background and experience

Simon is a partner 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.