Taxation Services
Self-Assessment Returns
If you are self-employed, a Partner, Director, Landlord, a Trustee or registered with the CIS, you will have to file an annual tax return to HMRC declaring the amount of income you’ve earned.
We can assist you in becoming fully tax compliant and making sure you don’t over pay tax. By working with you to submit your tax return accurately and on time, we can also help you avoid HMRC penalties for late or inaccurate submissions. We can even offer advice on how you can minimise your tax liability.
Corporation Tax
All limited companies in the UK are required to submit a Corporation Tax return to report their profits or losses. If you fail to complete such a return, you will receive a penalty.
We can prepare tax returns in a timely and efficient manner. We will also calculate your company’s tax liability, if any, and assist with the calculation of any instalment payments. We will also provide advice on how you could do things better to make life easier for you and hopefully minimise the amount of tax you have to pay.
VAT
If your annual turnover exceeds a certain limit (for 2017/18 this limit was £85,000), you are mandatorily required to register for VAT. Failure to do so will result in penalties.
We can help to ensure that you comply with the changing requirements of VAT and that you avoid unnecessary penalties. To help you manage this complex area, we provide an efficient, cost-effective VAT service, which includes:
- Assistance with VAT registration
- Preparation and submission of VAT returns
- Advice on VAT planning and administration
- Use of the most appropriate scheme
- VAT control and reconciliation
- Help with completing VAT returns
- Planning to minimise future problems with HM Revenue & Customs
- Negotiating with HM Revenue & Customs in disputes and representing you at VAT tribunals if necessary.
Capital Gains Tax
If you sell a Capital Asset (such as a property or shares in a business), you may be potentially liable for capital gains tax. Planning is essential to minimise the amount you have to pay.
We work with you to utilise reliefs available to minimise any CGT liability arising and plan for any future liabilities.
Tax Refunds for Commercial Property
Many commercial property owners are unaware that they may be entitled to claim tax relief in the form of Embedded Capital Allowances.
We help you identify and determine your potential tax relief. There is no requirement to change your current Accountant, we can work along side them to determine this claim.
The benefit to you is :
- We only charge you a fee once your claim has been approved by HMRC;
- We do all the work and prepare the necessary report to evaluate your claim without taking up too much of your valuable time;
- You can remain with your existing Accountant
To find out if you have a claim please complete our one page pre-assessment form , it should take you no more than 5 minutes.
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Inheritance Tax
Inheritance tax is payable to HMRC on money or possessions you leave behind when you die, and on some gifts you make during your lifetime. Protecting against this tax allows individuals to pass on more of their assets to future generations. We work with clients to mitigate their inheritance tax liability through offering the right advice and careful planning.
We can work in partnership with you to:
- Plan ahead and review your will(s) so they are drafted in a tax-efficient way
- Assist if you own assets overseas, or are a UK resident non-domiciled individual
- Help you consider alternative structures for holding assets to reduce IHT liability e.g. trusts or personal investment companies
HMRC Investigations
Being under investigation by the HMRC can be disruptive to your business and could also end up being very costly too.
If you are about to be the subject of an investigation, we will liaise with HMRC on your behalf and can offer expert help and support.