Tax services
We recognise the importance of taxation for individuals and businesses. All of our staff have a good working knowledge of tax affairs but we also have a specialist Tax Department to ensure the highest levels of support and advice that our clients need.
Tax Complaince
Personal
This is more than filling in tax returns. Our normal annual personal tax compliance service includes:
- The completion and submission to HMRC of Self Assessment tax returns and supporting schedules.
- Calculation of tax liabilities.
- Advising of tax payments and due dates, including balancing payments or repayments and any interim payments.
- Checking Self Assessment statements of account.
- Checking PAYE notices of coding.
- Dealing with minor queries arising during the period including any dialogue required with HMRC.
We deal with other personal tax compliance as the need arises, including dealing with national insurance contribution matters, inheritance tax reporting and calculating capital gains tax liabilities.
Our annual service goes beyond filling in the forms and we critically review tax returns to see if they "look right" based on what we know of our clients. Have you sent us all the information you sent last year, or have you missed one bank account? We cannot take away from you the ultimate responsibility for preparing a correct return, but by taking this extra care we might just help to prevent that tax enquiry!
Business
The accounts of a business normally require adjusting for tax purposes to arrive at a taxable profit (or loss) rather than the accounts profit (or loss). These adjustments are made on a tax computation at the time the accounts are prepared. The adjusted figures are then used to prepare personal, partnership or corporate tax returns.
We assist businesses with end of year PAYE returns including forms P35 (whether in support of our payroll department or otherwise) and forms P11D (which require details of expenses and benefits to be reported to HMRC by 6 July each year).
We also provide businesses with VAT support. We can assist you with the preparation of your VAT returns, or prepare them from the information you provide, or advise on the VAT treatment of sales or costs.
Corporate
We help our corporate clients meet their tax obligations in many ways:
We prepare tax computations adjusting a company's accounts for tax purposes.
We prepare corporation tax return form(s) CT600 for each accounting period (NB a company's accounting period for tax purposes is not necessarily the same as the period for which it prepares accounts!)
We monitor filing deadlines for company tax returns, help our clients submit their returns on time, and ensure that making all appropriate tax claims in time.
We advise clients of their corporation tax payments, typically falling due 9 months after the end of an accounting period (and 3 months before the tax return has to be filed).
We monitor and compute other company tax liabilities, for example liabilities to corporation tax as a result of making loans to participators (most commonly as overdrawn directors' loan accounts).
However we do not just fill in forms; we constantly think of ways to help our clients pay less tax.
For our many owner-managed companies, we consider the optimum tax position of both the company and its owners.