Tax

How much tax should you pay if you are a Limited Company, Sole Trader, Partnership, LLP, Director, Property Developer, Landlord, Family Business or Healthcare Business?

What documents need to be filed with HMRC and when?

If you are not sure what HMRC expects of you, please phone: we are here to help you run your business in the most tax efficient way.

Are You Paying Too Much?

No-one should pay more tax than necessary. Send me all your purchase receipts (it’s easy – no paperwork is required – simply scan and send from your phone) and we will account for all the money coming into and going out of your business. Find out how our bookkeeping services make this easier for you.

Stay in Control

We all want to spend less time on administration (and paperwork) while avoiding excessive tax bills – and penalties.

Let us take care of your accounts and tax responsibilities while you spend more time running your business.

How Can We Help You? Replies to Your Questions

If you have any burning questions related to tax, please get in touch. Perhaps you would like to ask about:

• Filing a self-assessment tax return whether you are a small business owner, company director, sole trader or partner
• Your annual corporation tax calculation, return and deadline
• VAT returns and deadlines
• PAYE and HMRC’s electronic Real Time (RTI) Information process
• Your assets and liabilities as a landlord, property developer or property company
• Being self-employed, knowing what to claim for and why you must keep up to date records
• About your personal tax allowance now you’ve taken a second job
• Any changes in tax law and how it affects you

Please call – we will answer all your questions. Your first consultation is free of charge, unpressured and friendly.

Discover the Most Tax Efficient Way of Running Your Business

Let us carry out a review your tax situation. It is always better to involve your accountant early (avoiding last minute year-end tax deadlines).

• Perhaps you have received a penalty from HMRC (or would like to know how to avoid one).
• Maybe you have a question about becoming a limited company, or remaining a sole trader.
• Perhaps your financial circumstances (business or personal) have changed, or you’ve heard about a new HMRC requirement and are wondering how it might affect you.

Whatever your tax situation, you will be looking for the right advice and the best option for your business.

Call today and ask our advice. Your first consultation will be unpressured, friendly and without charge.

Self-employed?

Are you self-employed running your own business? Are you looking to save tax (legally)?

A quick business health check will produce a tax efficient plan. It will take into account your business and personal situation such as:

• Tax deductible expenses
• Tax efficient profit extraction strategies
• Available tax reliefs such as trade losses and sideways relief, and
• Advice on whether to incorporate.

Limited Company?

As the director of a limited company you want to minimise your corporation tax and personal tax liabilities. Are you asking yourself?

• What expenses can I claim from the company to benefit from full tax relief?
• What are the tax consequences when I take cash from the company? After all it’s my company.
• Can I charge my company rent for using my home?
• What will my corporation tax bill be and when will it payable?

If the answer is yes to any of the above, please contact us and we will be glad to help. We are able to assist you with:

• HMRC registrations
• Business set up and tax computations, and
• Filing the tax return in the required IXBRL format.

Payroll and Pay As You Earn (PAYE)?

Are you thinking of employing someone or perhaps you already have employees and are not sure about your obligations as an employer and HMRC’s Real Time Information (RTI) requirements?

We help clients set up employer’s scheme with HMRC, calculate employees’ pay and taxes and make the required submission to HMRC under the RTI system.

If you require electronic monthly payslips for your staff, end of year P60s and support with your obligations regarding workplace pensions auto-enrolment obligations, we are able to help you.

Property Tax

Property tax is a complex area. The way you structure and manage your property business will have a massive impact on your tax bill.

Right from the start, each action you take determines what and how much tax you pay later on. When buying the property, what is (or was) your intention? Is it for re-sale or for long term investment? What evidence do you need to reflect this intention? These questions alone can make a difference as to whether you pay income tax or capital gains tax which have different rates of tax.

If you are a landlord, property developer or run a property business as a sole trader or a company, ask me about minimising your property taxes and find out how to run your property business in the most tax efficient way possible and avoid surprises later on.