Tax Services
Personal Tax Planning
If you are a taxpayer you should always look to ensure that your assets and earnings are maintained in the most tax efficient manner.
We can provide year round advice on:
- Income Tax
- Capital Gains Tax
- Inheritance Tax and the use of tax efficient wills
- Trusts and Estates
Self Assessment
When self assessment was introduced its aim was to simplify the taxation regime for individuals, making it easier for them to produce and submit their own tax returns. However in reality many people find the returns more difficult to understand and are at risk of incurring penalties if they are not correct.
We can take this administrative burden off your shoulders by:
- Preparing your self assessment tax return along with any necessary supplements, and submitting it to the Inland Revenue on your behalf.
- Calculating and advising you of any tax payable well in advance and of future payments on account to be made
- Making claims to reduce your payments on account where necessary
- Checking Inland Revenue notices of tax coding to ensure your employment income is being taxed correctly.
- Dealing with the Inland Revenue on your behalf if they enquire into your tax return.
Corporate Tax Planning
When self assessment for companies was introduced the onus was placed on the business, rather than the Inland Revenue, to ensure it complied with the corporate tax regime. In reality the majority of companies do not have the knowledge to do this and are at risk of incurring penalties if their returns are not correct:
We can take this administrative burden from the company by:
- Preparing the corporation tax computation from the statutory accounts.
- Preparing the corporation tax return (form CT600) and submitting it to the Inland Revenue.
- Informing the company of the corporation tax due, well in advance of the deadline for payment.
- Dealing with the Inland Revenue if they enquire into the company’s return
As with individuals, it is important to ensure that the company has taken advantage of all available reliefs and expenditure available to it.
Therefore we also offer a corporate tax planning service, which may include:
- Use of a company pension scheme to purchase commercial property
- Tax efficient employee benefit schemes
- Company reorganisation and restructures
Payroll Bureau
Understanding the operation and calculation of your employees’ pay can often be a complex and confusing process. We can offer a payroll service that meets your needs.
Our service includes:
- Setting up new payroll schemes with all necessary paperwork being sent to us directly from the Inland Revenue. This will enable you to concentrate on running your business rather than being drowned by paperwork.
- Dealing with paperwork associated with leavers and new starters.
- Weekly and / or monthly processing of your payroll, including provision of payslips and completion of autopay mandates
- Informing you of the PAYE and NI due to be paid, well in advance.
- Preparing the year end documents needed by both your employees and the Inland Revenue.
- Professional advice on payroll issues via telephone
VAT
VAT legislation is highly detailed and can be quite difficult to understand. As a result some businesses can often come unstuck and over or under pay VAT.
In fact what many of them do not realise is that every transaction a registered business makes will have a VAT consequence.
We can provide a service that includes:
- Help with VAT registration and deregistration.
- Advice on which scheme is the best for your business.
- Preparation of VAT returns from your accounting records.
- Informing you of the VAT due/ repayable, well in advance of the deadline.
- Dealing with HMRC enquiries and compliance visits.
- VAT planning for particular situations e.g. upon sale or purchase of a business.