The freely accessible HMRC VAT filing software will be removed from April 2019, see our Making Tax Digital (MTD) section below for more detail on this.
Accounts are prepared by our chartered certified accountants for discussion and your review. Thereafter we file these on your behalf to Companies House (for Limited Companies, LLPs and Trusts) and HMRC (for all clients including Sole Traders).
Tax Returns are prepared at the same time, and we always have a clear discussion with you detailing how much tax is due or the level of tax refund due back to you where that is applicable.
We offer a comprehensive in house bookkeeping service, however if you wish to do your own that is also no problem.
Frequent bookkeeping allows us to give our clients clear and timely business planning advice, we can identify areas of strong performance e.g. repeat customers / in demand products and use this as the basis for discussions at our face to face catchups. This allows you to concentrate on your business growth areas and generally makes us feel good, if you succeed we succeed.
Forming a limited company and trading this way can be highly tax advantageous. We charge £100 to set up a new company (2019 price).
- Identification documents – we need a copy of photo ID for you (passport or driving licence).
- Other information – To maximise your refund, please provide us with receipts for your expenses (e.g. travel, subsistence, hotels).
HMRC Liaison and Investigation Assistance
We liaise with HMRC daily and have many years’ experience in dealing with tax inspections.
Let us take the worry of this away from you and act as your authorised agent in any inspections.
If you have staff and are looking for reliable and timely payroll services, then we are here to assist.
Our payroll accountants have years of experience, which ensures that your staff get paid the right amount and on time.
PAYE and National Insurance deductions are notified to you each period and you remit amounts owed to HMRC. We send our clients a step by step guide on how to do this.
We have many years experience of UK tax rules and pride ourselves on providing tax planning advice.
Our chartered certified accountants remain up to date with revisions to the tax rules to ensure that advice is timely, accurate and maximised to the full potential.
We provide advice on:
- Capital Gains Tax
- Income Tax
- Inheritance Tax
- Personal Tax and Estate Planning
- Property and Land Tax
We specialise in getting tax refunds for our clients. Where you aware that you can claim a UK tax refund back when you travel to work? You can and we can help you.
You can claim back for the last 4 years if you haven’t already done so.
We obtain tax refunds for:
- Construction CIS workers
- Construction PAYE individuals
- Offshore workers
- Security workers
We require the following Information to look at your tax refund:
- CIS monthly statements – These are the statements which you get from your contractors to show how much you were paid and how much CIS tax was deducted at source.
- A list of the different sites which you have worked on, including dates. Don’t worry too much if you can’t remember all of the details.
We file tax returns for: CIS Subcontractors, Limited Companies, LLPs, Partnerships, Sole Traders and also Trusts.
We submit returns to HMRC and also Companies House (for non sole traders) on your behalf.
Tax Returns and tax computations are always discussed with our clients in advance of filing. We believe in a human touch and 100% transparency so that all clients are clear. There really is nothing worse than an unexpected / surprising tax bill.
We prefer to prepare your returns early so that you have plenty of notice and time to pay down any tax liabilities before these become overdue.
We provide a VAT preparation and direct filing service in to the HMRC.
Making Tax Digital
HMRC's vision to digitalise the UK tax system is now well underway. The transformation will start with Making Tax Digital (MTD) for VAT from April 2019.
After MTD for VAT has been implemented, MTD for income tax (for the self-employed and those with income from property) and MTD for corporation tax are expected to follow, but not before April 2020 at the earliest.
The essential elements of this are:
- Businesses and organisations (which includes those with income from property) will be required to maintain digital accounting records. Maintaining paper records will cease to meet the legal requirements in tax legislation.
- Businesses and organisations will be required to use a functional compatible software product to submit their returns to HMRC. The software will use HMRC’s API (Application Program Interfaces) platform to submit information to HMRC. The current HMRC online tax return services will be withdrawn for those within the scope of the MTD rules.
Timeline for MTD:
April 2019: Impact for VAT reporting by all VAT registered businesses and organisations (including sole traders, partnerships, limited companies, non-UK businesses registered for UK VAT, trusts and charities) with turnover above the VAT threshold.
April 2020, at the earliest: MTD go live for income tax and corporation tax. MTD for VAT may also be extended to all VAT registered businesses. Further details have yet to be announced by HMRC but are expected in 2019.