The Complexity that is Business Tax

As a business owner, you are responsible for ensuring your tax liability is calculated correctly. There are harsh penalties for non-compliance and due to all of the increased reporting and investigation being carried out by HMRC a lot of the business owners time and resources can be spent on administration.

So, let us take that pressure on your behalf! We will provide you with the Peace of Mind that you are fully compliant, relieving you of the administration burden and tax legislation, minimise your corporate tax liability and can also free up time for you to devote to your business or personal pursuits.

When done correctly effective corporate tax planning can result in significant improvements in your bottom line.

VAT has to be one of the most challenging of our tax systems. With different VAT schemes and rates that can be industry-specific the whole process is administration demanding and costly if you get it wrong.

We do not profess to be specialists in your business...you have your skillset...and we have ours. So let us take this administrative headache away for you and complete your VAT compilation and do your VAT returns - all filed with HMRC.

See our VAT service here.

P.A.Y.E. or Pay As You Earn is quite simply a tax collection system. As an employer you are responsible for ensuring all tax is collected and paid over to HMRC on behalf of your employee(s). We provide a payroll service so that we can take away all of the pain and worry of running your own payroll. Contact us to find out more on how we can help you with your payroll.

Linked to payrol is auto-enrolment. If you employ at least one person you are an employer and you have certain legal duties. Since 2008, rules have been in place that certain staff need to be enrolled in a pension scheme. Although we cannot advise on which pension plan you should choose we can help you with setting up the pension plan and ensuring that the contributions are dealt with correctly.

Corporation tax is a tax that is payable from all taxable profits of any company that is based in the UK, no matter where in the world the profit was generated. Corporation tax is calculated and paid annually based on your 'Corporation Tax accounting period', which is usually the same as your company's financial year. The Corporation Tax Return (CT600) must be completed and filed with HMRC and the deadline is 12 months after the end of the accounting period it covers. We complete your corporation tax return as part of our limited company accounts service.

Simply saying you want to take benefit of a lower tax rate by taking a dividend is not as straight-forward as it may appear at first thought. Good dividend planning will consider cash flow issues, ease of administration as well as tax advantages. We work with you to fully understand your circumstances, clearly explain the benefits and/or pitfalls of taking dividends. Taking a dividend is not always tax advantageous!

Exit planning is not a tax in its own right but is nonetheless critical when considering your overall estate. As a business owner, your business is a fundamental part of your estate (estate planning) and may even be the major part...so it requires serious consideration. Is your business scalable and sustainable....not reliant on just your own output? Then your business will have a value and you need to consider your exit strategy...what could your business and any associated assets be worth. By working with our experienced partners they will help you define your exit plan and advise on the impact on your estate.