Taxation
Corporate Tax Returns
Taking care of your legal obligations whilst clearly highlighting the allowances and tax reliefs available.
We are qualified accountants with decades of experience in advising businesses on how to maximise their company tax savings.
Corporation tax represents a substantial part of your trading costs. Moreover, the increased reporting obligations, robust investigation policies by the tax authorities and harsher penalties for non-compliance mean that an undue amount of your time and resources can be taken up collecting revenue for the Government.
We can conduct a full tax review of your business and determine the most efficient tax structure for you. Very often, such reviews result in considerable tax savings, which manifest themselves as real improvements in your bottom line.
As with any other area of taxation, it is essential to be proactive and plan ahead when dealing with corporation tax.
In this way you can:
- Minimise your corporation tax liabilities;
- Make the most of any available reliefs, tax losses and deferment opportunities; and
- Ensure you meet all your CTSA deadlines and file your returns correctly, thereby avoiding any potential penalties.
In addition to helping you with your corporation tax planning, we can also represent you in any communication with the tax authorities.
VAT Returns
Value Added Tax Services
We will use the correct vat scheme that benefits your business the most.
There are various different VAT schemes.
- Apportion
- Direct Calculation
- Point of sale
- Cash Accounting
- Flat Rate
- Partial Exemption
- Annual Accounting
We will use the one that is best for your business.
Our operations
- We will write a week before your VAT accounting period is ending as a reminder to keep your Accounting documents ready for collection on a particular date. For example , Your VAT period is Quarter ending 30 April 12. We will write to you by 23 April 12
- We will phone to remind you of the collection date.
- Once we receive all your documents we will phone you in case some important documents are missing.
- We will discuss your Sales, Purchases and VAT liability and finalise after your approval.
- We will post /email you VAT figures.
- We will return your documents the following month.
We will give you a full vat report as to how your vat was calculated…ideal for both you and the vat inspector.
Self Assessment Returns
Do you need to complete a self assessment tax return?
You need to complete a self assessment tax return if you are:
- a sole trader;
- self employed;
- a partner; or
- a company director.
You also need a self assessment tax return if you have:
- Savings and investments income of more than £10,000;
- Property rental income;
- Income of more than £100,000 per year;
- Overseas income; or
- Any capital gains on sale of assets.
We offer a complete service to include:
- Completion of self-assessment;
- Advice on minimising tax liability;
- Preparation of rental accounts;
- Preparation of sole trader and partnership accounts;
- Computation of payments;
- Dealing with HMRC on your behalf; and
- Responding to HMRC notices of enquiry
HMRC Tax and VAT Investigation Services
No matter how large or small you are, HMRC can launch a tax investigation at any time. There doesn’t have to have a specific reason – everyone who submits a tax return is at risk.
We can look at the way you run your business and review your business records (in conjunction with your accountant if you have one) to try and identify any areas that may have given HMRC cause for concern.
There could be a genuine oversight in the accounts and returns which can be amended and resubmitted to HMRC. We play a vital role in defending your position and establishing evidences from your past sales trends and ratios to justify the amounts in the event of absence of your supporting documents. We will defend you and aim to resolve the matter within the shortest possible time frame and within the HMRC guidelines.
Our services include:
Responding on your behalf
Dealing with all correspondence from HMRC;
Meeting HMRC officers and representing you;
Preparing and defending your case; and
Negotiating the best possible outcome for you.
A poorly-handled tax investigation, from a business’ point of view, can result in more tax to pay and more penalties. Therefore, it is necessary that you seek advice from qualified and experienced accountants.
Level Of Tax Enquiry We Handle
We handle all types of Tax enquiries, from the simple random enquiries on your Self-Assessment Tax Returns filed to identification of offshore assets & income to a full-blown enquiry on how your business operates & if your accounts are spot on to the very serious Code of Practice 9 (cop 9) investigations and criminal investigations.
We are fully aware of the stress these enquiries have upon you. It is common for these enquiries to take 2 years or more from start to finish. We will give you our full support and in essence hold your hand through this difficult period.