Category: Services

COMPLEX VAT CALCULATIONS MADE SIMPLE

We offer all services as tax accountants, including registrations, monthly and quarterly VAT return filing, compliance checks, and investigations. VAT The Intrastat system was first introduced in 1993 and is used to gather data regarding trade with the EU. Any business that is registered for VAT that transacts business in goods with an EU member state is required to submit information about their transactions through the Intrastat system for statistical purposes. Arrivals refers to purchases, sales, and acquisitions whereas Dispatches refers to exports, sales, and removals. All enterprises that have registered for VAT are required to include in their VAT return both the total value of any goods they have sent to EU members as well as the total number of arrivals. It might be difficult to navigate the complexity of the VAT and Intrastat Returns systems, but an experienced VAT accountant from our team can help you.

Value added tax is among the most difficult and complicated taxation system that is imposed on businesses; as a result, many companies unintentionally overpay or underpay VAT.

A trained professional eye is necessary to ensure that you do not break the law and only pay what is legally required because of the ever-expanding scope of VAT, the continuous stream of minute modifications to the regulations, and the ever-increasing demands of HM Revenue & Customs.

• We can offer you a trustworthy and affordable VAT service, including:
• assistance with registering for VAT
• using the most effective plan
• Advice on the management and planning of VAT
• Advice on VAT in connection to transactions involving real estate
• Advice on VAT for not-for-profit and non-profit donations
• routinely paying the taxes
• assistance in filing out VAT returns
• preparing to reduce possible problems with HM Revenue & Customs
• representing you in VAT tribunals and resolving disputes with HM Revenue and Customs

VAT compliance can be a challenging administrative process due to constantly evolving legislation and HMRC’s increasing pressure. We provide an efficient and relatively affordable VAT service to support you in administering this complicated sector, which includes:

Advice on VAT administration, planning, control, and reconciliation.

• Assistance in filling out VAT returns
• Resolving conflicts with HMRC and, if necessary, representing you in VAT tribunals

YOU NEED HELP WITH CIS COMPLIANCE

In accordance with the Construction Industry Scheme, also known as CIS, the contractor deducts payments for self-employed subcontractors in the construction sector from their fees before paying them to HMRC. In particular on large construction projects, the majority of contractors demand that subcontractors participate in this arrangement. You will already be listed as a self-employed subcontractor, so you just need to register with HMRC to get a certificate and registration card.

While the majority of construction-related operations are included by the plan, some are not, mostly because they are taxed under a different company category. Speaking with one of our knowledgeable accountants will result in savings that go beyond merely lowering the deductions that principal contractors claim. Additionally, Additionally, you will be able to obtain the advice needed to claim expenditures and handle other self-employed tax-related issues.

SPECIALIST CONTRACTORS IN ACCOUNTANTS SAVE YOU VALUED TIME AND RESOURCES

The IR35 regulations were introduced by the government to stop businesses from firing employees then hiring them back as contractors to avoid paying National Insurance and tax on them. The government intervened as a result of this problem because it affected employees’ job rights and turned into a tax loophole for businesses. The term “Intermediaries law,” or IR35, refers to a set of government rules that affect tax and National Insurance contributions. In conclusion, if you hire someone as a contractor and they represent themselves as self-employed, but your contract provides their main source of income and establishes their working hours, then HMRC will determine that they are not self-employed but rather come under IR35. Please get in touch with us if you’d like to learn more about how we may help you with any IR35 rulings-related issues.

When a firm makes a profit or sells all or a portion of a business asset, capital gains tax is due. Capital Gains Tax is owed by a firm on a variety of assets. These consist of real estate, equipment, machinery, shares of stock, fittings and fixtures, the goodwill of the company, and registered trademarks. To establish whether they must pay capital gains tax, businesses must calculate their gain. Self-employed individuals who are sole proprietors or partners in a business must pay capital gains tax. Different organisations, such limited businesses, instead pay Corporation Tax with the proceeds from the sale of their assets. Any gift to a spouse, civil partner, or domestic partner is exempt from capital gains tax.

You can be confident that your business will follow the law when it comes to disclosing and paying tax on your gain with the help of our knowledgeable tax accountant.

Services for Corporation Tax Company Tax | Accounts

If you need assistance with corporate tax compliance and company accounts, please give us a call for a free quote and no-obligation consultation.

ACCURATELY COMPUTE CORPORATION TAX

A tax on a business’s net income is known as corporation tax. Since the tax was initially introduced in 1965, Corporation Tax Self Assessment (CTSA) was introduced in 1999 after the successful launch of Income Tax Self Assessment. Profits made by limited firms, members’ clubs, and trade and housing associations often are subject to corporation tax. However, under corporation tax, major businesses are required to pay their corporation tax in four quarterly instalments. These liabilities are therefore based on the company’s estimated current year tax due.

All businesses, big or small, are required by law to maintain all business records for a minimum of six years. All receipts, invoices, working papers, and tax-related paperwork are included in these records

For instance, if the scans are easy to read, this data can also be preserved in electronic formats like scans. Call our office to discuss your corporation’s tax obligation for guidance.

FREE ADVICE AND PARTNERSHIP SETUP

To ensure that members’ legal rights and obligations are clearly defined and to consider the tax consequences and fiduciary responsibilities, which are distinct from those of employees, it is necessary to structure a conventional partnership or LLP with careful planning and structured legal agreements. However, just like any organisation, concerns like defending a firm’s interests when key people depart or a group falters, dealing with complaints or disagreements, and finest mergers or joint ventures may all need to be addressed. A Limited Liability Partnership (LLP) is comparable to a traditional partnership in certain respects, with the exception that the members’ personal financial commitments are lessened. For further details, contact our experienced tax accountants.

Advance GUIDANCE FOR SELF-EMPLOYMENT TAX

GET PROFESSIONAL Advice TO BEGIN YOUR BUSINESS.

All around the UK, 5 million people who are self-employed make a living. In other words, around 17% of the entire working population in Britain. The quantity is huge and is expected to keep growing. Over 2.5 million Britons want to open their own small businesses, according to SmalBusiness.co.uk. That is precisely why individuals opt to working for themselves. You can experience a degree of work pleasure you never thought possible by going self-employed. With their newfound independence, many people flourish and achieve great success. Self Employment Tax is a complicated idea for individuals without any prior knowledge. You are left to fend for yourself economically when you work for yourself. And you, too? Being Self Employment Tax, bookkeeping, and other accountancy duties really aren’t responsibilities that contract workers must bear alone. You may support your goals and alleviate some of that burden by working with accountants for independent contractors.

Employer obligations for Employment Tax PAYE

For advice on Businesses and PAYE Obligations, Workplace Pensions, and Payroll Services, contact our Tax Accountants.

We realise that your employees are your most precious resource. The hiring, retention, and excitement of competent workers are essential components of any successful business, regardless of whether it is a start-up, multinational, or not-for-profit organisation. There are several methods for motivating employees, including offering flexible benefits, share rewards, and individualised compensation plans. To avoid fines, employers must understand their tax liabilities and filing requirements. Our employment tax specialists can assist you in comprehending HMRC’s intricate regulations because they have extensive experience assisting firms of all sizes. We take the time to learn about your company, your objectives, and your culture in order to give you clear, individualised recommendations that will free up your resources so you can manage your company.

Personal capital gains tax;

 timely payment of capital gains tax

The capital gains tax on residential property sales is calculated differently in the UK compared to other capital gains taxes. You pay taxes on 20% to 28% of the profit made from the purchase of the property in certain cases. These taxes only apply when you sell buy-to-let properties, commercial real estate, land, or inherited property; they do not apply when you sell your home. In essence, these taxes are levied upon the sale of any non-home property. You can be entitled for tax savings if the property qualify as a business asset, so be sure to consult with our certified tax accountant. You have 30 days to notify the sale if you don’t live in the UK.

INHERITANCE TAX PLANNING Handled PROFESSIONALLY

A person who eventually died leaving behind property, money, and valuables that are subject to inheritance tax. There won’t be any tax due if the estate worth is below the £325,000 threshold or if the deceased left everything to their spouse, civil partner, charity, or local amateur sports team. £850,000 in total. It is recommended to get advice and assistance from our seasoned professional Tax Accountant since inheritance tax regulations might be complicated.

Threshold value increases to £425,000 when the deceased person’s property is passed to their children or grandchildren (including any stepchildren, foster children, or adopted children). Any unused threshold amount is added to the partner’s threshold upon their death in the case of married or in a civil partnership couples with an estate worth less than the threshold, increasing their threshold up to.