We provide a range of tax planning, accounting and compliance services to support all aspects of business administration.
We can help you by making sure accounts are prepared in the correct format, statutory books and other company secretarial records are kept up-to-date and that all statutory returns are prepared. Our experienced team will relieve you of the regulatory burden and leave you more time to concentrate on other areas of your business. In short, we will make sure everything is in the right format, in the right place and at the right time.
As tax advisers, our objective is to work closely with you to ensure you pay the minimum tax required by law. We will help you to understand the tax implications of your actions, in order that you can plan ahead and conduct your affairs in a tax-efficient way.
Corporation tax services
Under Corporation Tax Self Assessment (CTSA), the legal responsibility for correctly calculating the corporation tax liability falls on business owners. We understand the issues facing owner-managed businesses and can prepare tax returns in a timely and efficient manner. We will also calculate your company's tax liability and assist with the calculation of any quarterly instalment payments.
The increased reporting obligations, investigation policies on the part of the tax authorities, and harsher penalties for non-compliance mean that your time and resources can be taken up with tax administration. We will help to minimise corporate tax exposure and relieve the administrative burden of compliance with current tax legislation. Effective corporate tax planning can also result in significant improvements in your bottom line.
Five thing you need to know about tax planning
Individuals – have you maximised your ISA investments and pension contributions this year?
Self-employed – if you are about to invest in new equipment or vehicles, doing so before 31 March 2011 should be of significant benefit.
Directors – If a director leaves an employment where National Insurance has been calculated in the usual fashion, a NI rebate may well be due.
VAT – if you sell mainly to businesses, it may be advantageous to register for VAT even your turnover is lower than the registration threshold (£70,000).
Employees – company cars can really hammer your tax allowances and leave you with a lot less money in your pocket. The Fixed Profit Car Scheme lets your employer pay you to run your own car. The rate per mile is 40p for the first 10,000 miles and 25p per mile thereafter.
Personal Tax (including sole-traders and partnerships)
We are specialists in income tax, capital gains tax and inheritance tax.
We have the expertise and software to take the headache out of the form-filling and compliance aspect of Self Assessment. We can provide you with practical advice on personal tax positions and the planning opportunities available to you. We can complete tax returns, calculate any tax liability and advise you on exactly when to make payments and how much to pay.
Personal tax planning
Today, more and more emphasis is being put on taxpayers' individual responsibilities, and everyone who is subject to taxation needs professional advice and support if they are to optimise their tax position and meet the compliance requirements. Our specialist tax team can provide you with year-round advice on all aspects of personal taxation.
Few of us like to think about dying, however the relevant legislation requires us to plan well in advance. This means making the necessary provisions now. There are many tax opportunities available and the earlier arrangements are made, the greater the chance of taking full advantage of our complicated tax system.
It is important when planning to transfer an estate that adequate provision is made, and getting the right balance requires considerable skill and foresight – along with a detailed knowledge of the current tax regime. We provide a discreet and comprehensive estate planning service that includes:
- help with planning and reviewing a will;
- making full use of exemptions and lower tax rates on lifetime transfers;
- optimising lifetime transfers between family members;
- transferring agricultural or business property;
- transferring assets into trust; and
- arranging adequate life assurance to cover potential inheritance tax liabilities.
We also have expertise in dealing with trusts; a relatively easy and very tax-efficient way to set aside assets for future beneficiaries outside the inheritance tax net. We can advise on the most suitable type of trust to fulfil your wishes, assist in setting up the trust and provide the full range of accounting services required for trust management.
We can help you with all your general bookkeeping requirements, either at your premises or at our office. You may require help to write up books, or in adding the finishing touches to information on bookkeeping systems in order to create your own management information. If you do not employ a bookkeeper, then we can take up the role or help you recruit the right person for your business.
Ever-changing regulations and the growing demands of HM Revenue & Customs mean that VAT compliance can be a difficult administrative process. We can help to ensure that you comply with the regulations and without making overpayments. To help you manage this complex area, we provide an efficient, cost-effective VAT service, which includes:
- assistance with VAT registration;
- 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; and
- negotiating with HM Revenue & Customs in disputes and representing you at VAT tribunals if necessary.
Running a payroll can be time-consuming and complicated, diverting resources from the core activities of your business. We can address this by installing payroll software and training your staff. Outsourcing this activity to us also helps relieve the pressure, and we can offer a cost-effective solution. We are able to provide the complete service, whatever the size or complexity of your business, or simply provide support when needed.
Being the subject of a tax investigation by the HMRC can be a stressful and worrying experience. With the onset of personal and corporate self-assessment, HMRC e staff can now review cases on a 'sample basis'; consequently, tax investigations have become more frequent. We have a wealth of experience in dealing with HMRC investigations, be they enquiries into an individual’s Tax Return under the Self Assessment regime, more detailed enquiries, or employer-related investigations into PAYE and P11D compliance. If you are about to be the subject of an investigation, we can provide expert help and support.
With the increased risk of such investigations, it may be worth considering taking out an annual insurance policy to protect you and your business from unexpected costs; an investigation will undoubtedly result in additional accountancy work being undertaken. The amount of work will depend upon the complexity of the case, but the cost could be substantial.
Contact us today to find out how we can help you.
Telephone: 020 8951 5522