As tax advisers, our objective is to work closely with you to ensure you pay the minimum tax required by law.
We will help you to understand the tax implications of your actions, in order that you can plan ahead and conduct your affairs in a tax efficient way.
Corporation Tax services
Under Corporation Tax Self Assessment (CTSA), the legal responsibility for correctly calculating the corporation tax liability falls on business owners. We understand the issues facing owner-managed businesses and can prepare tax returns in a timely and efficient manner. We will calculate your company's corporation tax liability and advise when payments are due.
We will help to minimise your corporate tax exposure and relieve the administrative burden of compliance with current tax legislation. Effective corporate tax planning can also result in significant improvements in your bottom line.
Personal tax services (including sole-traders and partnerships)
We have the expertise and software to take the headache out of the form filling and compliance aspect of Self Assessment. We can provide you with practical advice on personal tax and the planning opportunities available to you. HMRC will impose penalties for failing to file a return on time and for errors. Interest will also be charged on late payment of tax. We can calculate your tax liability, complete personal tax returns, and advise you on exactly when to make payments and how much to pay. We can also advise about payments on account and how you can reduce these if your tax liability is expected to be lower in the following year
Personal tax planning
Everyone who is subject to taxation needs professional advice and support if they are to optimise their tax position and ensure they meet the compliance requirements. We can provide advice on all aspects of personal taxation.
Ever changing regulations and the growing demands of HMRC mean VAT compliance can be a difficult administrative process. We can help to ensure that you comply with the regulations and that overpayments are not made. To help you manage this complex area, we provide an efficient, cost-effective VAT service, which includes:
- assistance with VAT registration, this can either be compulsory because your turnover has exceeded the registration threshold, or voluntary,
- advice on VAT planning and administration
- use of the most appropriate vat scheme
- VAT control and reconciliation
- help with completing and filing VAT returns
- preparation and filing of EC sales lists
VAT is currently planned to be the first tax to be subject to HMRC’s new procedures under Making Tax Digital for Business (MTDfB). This came into force in April 2019 for all vat registered business whose turnover exceeds the vat registration threshold (currently £85,000). We will ensure that you are aware of and, comply with, these new procedures.
HMRC Investigations and Enquiries
Fortunately these are rare. However, being the subject of a tax investigation or enquiry by HMRC can be a stressful and worrying experience. It can also be a lengthy one as enquiries can last many months. Dealing with these is a highly specialised area and we will advise you about how you can protect yourself and your business from unexpected costs. One option is to take out specific insurance, another is to consider joining the Federation of Small Businesses whose membership fee includes tax investigation insurance. Their specialist team will handle all aspects of the HMRC enquiry and any additional accountancy fees incurred are covered by your policy. If you are a sub-contractor there is also the IPSE where membership also includes tax investigation insurance.
Require more information?
If you would like more information or would like to speak to us direct then call us on 01799 521 885. Or if you would prefer, ask us a question online.