Corporation Tax

Every limited company that is based in the UK is subject to corporation tax on their profits. Limited companies that are non-UK based that can still be expected to pay corporation tax if the central control and management of the company is carried out in.

Corporation Tax

  • The first thing you must do is register your company with HM Revenue & Customs (HMRC), using its official forms, so it knows you are liable for corporation tax.
  • If your company is liable for corporation tax, you must calculate how much profit your company makes for each accounting period and how much corporation tax is payable on those profits.
  • This information must be reported to HMRC on a corporation tax return form and accounts and tax computations must be submitted to HMRC in support of the return.
  • There are strict penalties for filing late returns and interest is charged on tax paid late, so it is important that the deadlines, which are determined by your company’s annual accounting date, are adhered to.
  • Our accountants can assist with the preparation of company accounts, company tax returns and tax computations and will also be able to provide advice on any tax planning areas that may benefit you and your company.

Self Assessment

The UK has one of the largest tax codes in the world, so preparing even the most straightforward tax return can be complicated. There are various deadlines and responsibilities for taxpayers to be aware of.

Self Assessment

  • The staff at HM Revenue & Customs are not tasked to advise you on how to organize your affairs and minimize your tax. Therefore, if you want to make sure you are paying the right amount of tax, you should consult a professional.
  • As part of the our service, we can analyse your self assessment tax return to see if any tax savings can be made and we can also review the form to see if there are any anomalies that need to be addressed before the return is submitted.
  • As part of the above service, we can analyse your self assessment tax return to see if any tax savings can be made and we can also review the form to see if there are any anomalies that need to be addressed before the return is submitted.This process helps to minimize your risk of a HM Revenue & Customs inquiry into your tax affairs. If you are experiencing cash-flow problems, we can explore the possibilities of deferring your tax payments or negotiating a payment plan with HM Revenue & Customs on your behalf.

VALUE ADDED TAX (VAT)

Whether you’re just starting out or have been in business for a long time, We can help you meet your VAT responsibilities.

VALUE ADDED TAX (VAT)

  • We can prepare your VAT return; either from your own bookkeeping records or we can take care of your record keeping and the VAT return. And we will try to ensure that you claim as much VAT as possible, particularly on contentious items such as mixed-use expenditure and motor running costs.
  • Needless to say, late VAT registration, errors, late VAT returns and late VAT payments can all lead to penalties and possibly interest being charged. So allowing us to take care of your VAT affairs, not only gives you peace of mind, but it should also avoid you wasting your hard-earned cash on penalties and interest.

CAPITAL GAINS TAX (CGT)

Individuals are charged Capital Gains Tax in respect of gains made from selling, transferring or otherwise disposing of assets.

CAPITAL GAINS TAX (CGT)

  • There are many common assets that can be subject to Capital Gains Tax (CGT) when they are disposed of, such as stocks, bonds, precious metals.
  • If you are considering selling a personal asset or all or part of your business, we can advise you of the tax planning opportunities available to you before you make your disposal, in order to mitigate or reduce potential tax liabilities.
  • The legislation for CGT is a very complex area. There are many reliefs and exemptions which may lead to significant tax savings. It is therefore recommended that you seek the advice of our accountants who will be able to prepare your CGT computations, claim any reliefs that you may be entitled to and calculate any liability that may be due.