Taxation
Taxation
Corporate and business tax will represent a substantial cost to any profitable business, not only in terms of the tax itself but also in compliance with reporting obligations, investigations with tax authorities and penalties for non-compliance.
Our objective is to work closely with you to ensure you understand the tax implications of your actions, can plan ahead effectively and conduct your affairs in the most tax efficient way. Effective corporate tax planning can also result in significant improvements in your bottom line.
Our tax services cover:
Corporation tax services
The legal responsibility for correctly calculating the corporation tax liability falls on business directors. We understand the issues facing owner-managed businesses and can prepare tax returns in a timely and efficient manner.
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. We will also calculate your company’s tax liability and assist with the calculation of any quarterly instalment payments due.
Value Added Tax (VAT) and Enquiries
Ever changing regulations and the growing demands of HMRC mean VAT compliance can be a difficult administrative process.
As with other areas of tax, we can act as your Agent for VAT purposes and therefore correspond with HM Revenue & Customs (HMRC) on your behalf. We can help to ensure that you comply with the regulations and that overpayments are not made. 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 HMRC
- negotiating with HMRC in disputes and representing you at VAT tribunals if necessary
We can help you decide whether you need to be VAT registered from the outset or not. And we will continue to monitor your situation, so that should it become obligatory for you to register for VAT, we can deal with all of the paperwork for you. 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.
HMRC Tax Investigations and Enquiries
Being the subject of a tax investigation or enquiry by HMRC can be a stressful and worrying experience.
We have a wealth of experience in dealing with HMRC investigations, whether they are enquiries into an individual’s Tax Return, more detailed enquiries into a company’s affairs or employer-related investigations into PAYE and P11d compliance. If you are the subject of an investigation, we can provide expert help and support.
Tax Protection
With the increased risk of such investigations, it may be worth considering taking out our 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.