Income/Personal Tax
If you have income which is not taxed at source, you might be required to complete a self-assessment tax return. You could also be suffering tax at source at too high a rate (such as subcontractors under the CIS scheme). We can calculate your income tax and deliver your tax return to HMRC, ensuring compliance with taxation legislation.
We can project your potential income tax liability before it crystallises and suggest means of mitigating that liability.
VAT
If your taxable supplies in a 12-month period exceed the VAT registration threshold, you must register for VAT. We can help you to prepare and file your VAT returns, either from records you have written up yourself, or by writing up your books and preparing a return therefrom
VAT is often oversimplified by the taxpayer, but can be somewhat of a minefield. We are able to offer advice about technical VAT issues to ensure you are compliant or to help you plan such that future transaction are conducted in a VAT-efficient manner.
Inheritance Tax
If your estate’s value is close to the nil rate band, it would be prudent to undertake some inheritance tax planning. We can help you to structure your estate in the most tax efficient manner while keeping in mind your current financial needs and your preferred beneficiaries.
Corporation Tax
After your statutory accounts have been prepared, we will calculate the amount of corporation tax due and prepare and file the company tax return with HMRC.
We can project your potential corporation tax liability before it crystallises and suggest means of mitigating that liability.
Making Tax Digital (MTD)
From April 2019, VAT registered businesses will, in most cases, be required to keep digital VAT records and file their returns directly from those records. We can help you migrate to the software most appropriate for you; for any clients who use paper cash-books or manual spreadsheets, we can offer you simple solutions to make you MTD compliant.
Stamp Duty Land Tax (SDLT)
If you sell properties or gift them to a spouse or close family member, you might need to pay SDLT to HMRC. We can calculate the amount of tax due and deliver a tax return to HMRC, ensuring compliance with taxation legislation.
If you plan on selling or gifting properties in the future, we can advise you on the best course of action in order to mitigate future tax liabilities.
If you have sold multiple properties in the past 2 years, it could be worth revisiting those transactions to ensure that the appropriate SDLT reliefs were claimed.
Capital Gains Tax
If you sell assets or gift them to a spouse or close family member, you might need to report a capital gain to HMRC. We can calculate the amount of capital gains tax due and deliver a tax return to HMRC, ensuring compliance with taxation legislation.
If you plan on selling or gifting assets in the future, we can advise you on the best course of action in order to mitigate future capital gains tax liabilities.