ENSURING YOU PAY THE MINIMUM TAX
OUR OBJECTIVE IS TO WORK CLOSELY WITH YOU, TO ACHIEVE SIGNIFICANT IMPROVEMENTS IN YOUR BOTTOM LINE AND HELP INCREASING YOUR PROFITS.
We will also help maximise the amount of funds available to reinvest in the business or to return to the shareholders (if a corporate structure). We will help you to plan ahead and conduct your affairs in a tax efficient way.
Corporate Tax Liability
Under Corporation Tax Self-Assessment (CTSA), the legal responsibility for calculating the corporation tax liability falls on business owners. We understand the issues you face and can prepare tax returns for you.
We will also produce the supporting computations of tax liabilities, advise you of corporation tax payment dates, provide timely reminders as payment falls due, and of course, be there to deal with HMRC on your company’s behalf.
Our aim is to help minimise corporate tax exposure and relieve the administrative burden of compliance with current tax legislation.
Corporate Tax Planning
Strategic planning is important, particularly when changes to the business ownership is about to change. We can help with your corporate tax planning and can include:
- Advice on optimum group and shareholding structures.
- Reviews during the financial year in order to plan expenditure in the most tax efficient manner.
- Identifying allowances available, particularly those not always immediately thought of, such as capital allowances on the purchase of a freehold property or Research and Development expenditure tax relief.
- Keeping you advised of developments and changes in legislation – both generally and specific to your industry
Self-employed National Insurance
Are you satisfied that the level of National Insurance you are paying is correct? Sometimes when an individual is both employed and self-employed, there are errors in the amount of NIC being charged. If so, we can check your liability and assist with refund claims or claims for exemptions where applicable.
When investing in plant, machinery, or other major expenditure on assets for your business, it is important to make sure you claim the correct allowances to minimise your business’s tax liability.
Depending upon the type of asset and whether it has been selected by HMRC for special treatment (for instance Motor Cars have rules for restricting the tax relief based on the CO2 emissions of the vehicle), you may be able to claim some additional tax relief on your corporate or business tax return. Why not use us to ensure you are claiming reliefs, due to you, in a cost effective and efficient manner.