Earlier this year we welcomed Tom Carter to RfM in the role of Group Tax Manager. Since joining RfM, Tom’s knowledge of corporate and personal tax has proven invaluable and he’s supported colleagues across the group with high-level tax matters. Here’s a little more about Tom and his journey to becoming a tax master.
After graduating from Lancaster University in 2008 with a degree in Business Studies, Tom was attracted to a role in the tax department of a large North West accountancy firm. Over the course of five years, he gained a solid grounding in personal tax and achieved the Association of Taxation Technicians (ATT) qualification.
The journey to tax specialist
To be a true tax specialist, however, Tom knew he needed to gain the same level of experience and qualifications in a mixed tax role. Five years later, following a couple of job moves, dealing with every aspect of tax and studying hard, Tom passed his Chartered Institute of Taxation (CIOT) exams to become a Chartered Tax Advisor and the doors opened to more career opportunities.
It would be another couple of years before Tom would apply for the role of Group Tax Manager at RfM – but well worth the wait for us. RfM clients are already benefitting from Tom’s many years of tax experience.
High-level tax matters
Working across all the RfM offices, Tom is the go-to person in the group for specialist tax advice. We asked Tom if he’d worked on any interesting tax cases since joining RfM. As he pointed out, ‘interesting’ is a matter of perspective, so Tom instead explained the sorts of areas he has advised on recently.
- Capital Gains Tax work on property sales and reporting to HM Revenue & Customs under the 60-day reporting requirement where necessary.
- The best way to structure property purchases – company vs personal ownership.
- Shareholder exits.
- Inheritance Tax planning.
- Setting up a holding company – to protect assets such as property or cash from a downturn in a trading company.
- Pension contributions – considering if individuals have breached their Annual Allowance and the reporting of the tax charge if they have.
- Succession planning for businesses.
- Assisting new clients who have undeclared income (often from property).
- Company sales – dealing with the tax aspects.
- Assessing the tax implications of purchasing vehicles through the business. There are lots of electric vehicles being bought or leased.
When Tom isn’t talking tax, much of his time is taken up being dad to his two young children and looking after the family’s four pet chickens (Tom, Linda, Peppa and Stevie).