Services
Business Tax
As accountants specialising in UK business tax, we offer comprehensive tax services for both sole traders and limited companies. Navigating business tax can be challenging due to changing regulations, varying tax structures, and specific reporting requirements. We provide expert support in tax planning, preparation, and compliance to ensure that your business meets all HMRC obligations while minimising your tax liabilities. Whether you’re a sole trader or run a limited company, we tailor our services to your specific needs, using advanced software like Xero and QuickBooks, or will try adapting to your existing systems for seamless tax management.
Business Tax Services for Sole Traders
- Self-Assessment Tax Returns As a sole trader, your business income is taxed as personal income. We manage your self-assessment tax return, ensuring all income, business expenses, and allowances are accurately reported to HMRC. By using Xero or QuickBooks, we streamline the process, automating the tracking of your income and expenses to ensure your tax return is accurate and filed on time.
- National Insurance Contributions (NICs) Sole traders are required to pay Class 2 and Class 4 National Insurance Contributions (NICs) based on their profits. We handle the calculation and submission of your NICs, ensuring they are factored into your tax return and paid in a timely manner to avoid penalties.
- Tax Planning & Expense Management We provide tailored tax planning strategies to help you minimise your tax liabilities. This includes advice on allowable business expenses such as travel, office costs, and equipment, helping you claim all available deductions. With Xero or QuickBooks, we help you track your expenses in real-time, maximizing your tax efficiency.
- VAT Services for Sole Traders If your business turnover exceeds the VAT threshold, or if you voluntarily register for VAT, we handle your VAT registration, quarterly returns, and HMRC submissions. Using Xero or QuickBooks, we ensure your VAT records are accurate, comply with Making Tax Digital (MTD), and that VAT returns are submitted on time.
- Capital Allowances We help sole traders claim capital allowances on business assets such as vehicles, equipment, and machinery. This reduces your taxable profits by allowing you to offset the cost of these assets against your tax bill. We ensure that all eligible capital allowances are claimed to minimise your tax liabilities.
Business Tax Services for Limited Companies
- Corporation Tax Returns We handle the preparation and submission of corporation tax returns (CT600) for limited companies, ensuring all income, expenses, and allowances are accurately reported to HMRC. Using Xero or QuickBooks, we streamline the tracking of your financial data, ensuring your corporation tax is calculated correctly and submitted on time.
- Tax Planning for Limited Companies We provide expert tax planning services to help limited companies minimise their tax burden. This includes advice on optimizing directors’ salaries and dividends, timing of expenses, and the use of tax-efficient strategies such as Research & Development (R&D) tax credits or capital allowances. Our goal is to reduce your corporation tax liability while ensuring compliance with HMRC.
- Dividend Taxation As a limited company, paying dividends to shareholders can be a tax-efficient way to distribute profits. We help you structure dividend payments in a way that minimises both corporation tax and personal income tax for directors and shareholders, ensuring full compliance with dividend tax rules.
- VAT Services for Limited Companies We manage VAT registration, compliance, and submission of VAT returns for limited companies, ensuring full compliance with Making Tax Digital (MTD) requirements. By using Xero or QuickBooks, we automate VAT tracking and reporting, ensuring your business is compliant and that VAT returns are submitted on time.
- R&D Tax Credits For limited companies involved in innovation or development, we help you claim Research & Development (R&D) tax credits, which can significantly reduce your corporation tax bill. We assist in identifying qualifying R&D activities, gathering the required documentation, and submitting a claim to HMRC, helping you take advantage of this valuable relief.
- Capital Allowances for Companies We help limited companies claim capital allowances on business assets such as property, machinery, and equipment. By ensuring that all eligible expenses are claimed, we help you reduce your taxable profits and minimise your corporation tax liability.
- Business Losses & Carry Forward Relief If your company incurs a loss, we provide guidance on how to use business losses to reduce future tax liabilities. This includes advice on carrying forward or carrying back losses to offset profits in other tax periods, ensuring you make the most of tax relief opportunities.
Why Choose Us?
- Full HMRC Compliance: We stay up to date with the latest UK tax laws and regulations, ensuring your business meets all HMRC requirements and deadlines, whether you're a sole trader or a limited company.
- Tailored Tax Solutions: We provide bespoke tax planning and management strategies to suit your specific business structure, ensuring maximum tax efficiency and compliance.
- Real-Time Financial Oversight: With cloud-based software like Xero and QuickBooks, we offer real-time insights into your tax position, making it easier to manage your business tax obligations throughout the year.
- Timely & Accurate Submissions: We guarantee that all tax returns, whether personal, corporation, or VAT, are submitted accurately and on time, helping you avoid fines and penalties.
- Expert Advice on Complex Tax Issues: Whether it's dealing with VAT, R&D tax credits, or international tax considerations, our team provides expert advice to help you navigate even the most complex tax situations.
Whether you’re a sole trader or managing a limited company, our business tax services are designed to simplify your tax affairs, minimise liabilities, and ensure full compliance with HMRC. We work with Xero, QuickBooks, or your existing systems to provide a seamless, tailored solution for all your business tax needs.
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