Taxation can be a major cost to your business or to you as a director, depending on how you remunerate yourself.
Tax returns are virtually all now required to be submitted online electronically and have filing deadlines and penalties for late submission and interest and surcharges for late payment of tax.
Tax legislation and case law is ever more complicated and complying with the legislative requirements is a significant burden for the typical SME business. Unfortunately, there are also many ‘tax pitfalls’ into which the unwary business owner can fall.
With the introduction of online filing for corporate, personal, PAYE and VAT returns, HM Revenue & Customs (HMRC) are shifting their resources into increasing their investigations into businesses and individuals. HMRC’s approach is increasingly varied and they have extensive powers. Some HMRC investigations are random. If you are the subject of such an investigation, you may end up incurring considerable professional costs, which will use up valuable management time dealing with the investigation, even if you eventually have no additional tax to pay.
We will work in partnership with you to minimise your tax and help you achieve your key objectives by making you aware of the tax consequences of decisions and major transactions. Our proactive approach ensures we deliver a consistent and timely service. We offer a full range of taxation services as follows:
Preparation of corporation tax computations and annual Corporation Tax return form CT600 and filing online with financial statements in iXBRL format with HM Revenue & Customs on your behalf.
This includes advice in minimising company tax liabilities.
Advice on ownership of personal and business assets, in order to minimise future tax liabilities in the event of disposal of the asset. Tax planning to take advantage of the various reliefs available.
Preparation of business, partnership and personal self assessment returns and advising on payments. Effective tax planning including tax efficient remuneration packages for directors of SMEs.
Helping you with estate planning for your business and your personal assets, including your family home to pass on the maximum to your beneficiaries. We can advise you in conjunction with legal advisors on tax efficient wills and the use of trusts.
Assisting your with VAT registration. Preparation of VAT returns and advice on payment of VAT liabilities. Undertaking VAT health checks to ensure compliance with the law & regulations.
Such as PAYE and National Insurance – advice on payment of liabilities. Assistance with completion of end of year returns including forms P11D for benefits in kind. Undertaking health checks to ensure compliance with the law & regulations.
Management of tax investigations and disputes and the provision of tax investigation fee cover if required.
Complying with the law on taxation.
Filing of tax returns and forms on time within the deadlines.
Minimising your tax liabilities.
Minimising the likelihood of a costly tax investigation.
Notifying you of your tax liabilities in good time for you to be able to budget for the cash flow expense.