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What Service We Provide

Company Formation

Our company formation service takes the hassle out of starting your business. We handle all the paperwork and legal requirements, so you can focus on what you do best – building your business. Our experienced team will guide you through the process, from choosing the right business structure to registering with the appropriate authorities. We offer a range of services tailored to your needs, whether you’re a sole trader, partnership, or limited company. With our help, you can get your business up and running quickly and easily, with the peace of mind that comes from knowing everything is taken care of. Let us help you make your business dreams a reality.

Tax Planning

Tax planning is the process of analyzing a financial situation or plan from a tax perspective to ensure tax efficiency. The purpose of tax planning is to minimize tax liability and maximize after-tax income. Tax planning services may include reviewing financial records, identifying tax-saving opportunities, developing strategies to reduce tax liability, and ensuring compliance with tax laws and regulations. Tax planning is essential for individuals and businesses to optimize their financial situation and achieve their financial goals.

Bookkeeping

Bookkeeping is the process of recording financial transactions, including purchases, sales, receipts, and payments, in a systematic manner. Bookkeeping services involve maintaining accurate and up-to-date financial records for businesses. This includes recording daily transactions, reconciling bank statements, and preparing financial statements such as balance sheets, income statements, and cash flow statements. Bookkeeping services help businesses track their financial performance, manage cash flow, and make informed financial decisions.

Xero Cloud Base Accounting

Xero cloud-based accounting is a type of accounting software that is hosted on remote servers and accessed through the internet. Xero cloud-based accounting services provide businesses with a flexible and convenient way to manage their finances. With Xero, businesses can track income and expenses, reconcile bank transactions, generate financial reports, and manage invoices and bills. Xero cloud-based accounting offers real-time access to financial data, making it easier for businesses to monitor their financial performance and make informed decisions.

Self Assessment

Self-assessment is the process by which individuals report their income and calculate their tax liability to the tax authorities. Self-assessment services involve assisting individuals in completing and filing their self-assessment tax returns. The personal allowance is set at £12570 for 2023-2024. This includes gathering and organizing financial information, calculating taxable income, claiming deductions and credits, and submitting the tax return to the tax authorities. Self-assessment services help individuals comply with tax laws and regulations and ensure that they pay the correct amount of tax.

Inheritance Tax Planning

Inheritance tax planning is the process of organizing your financial affairs to minimize the inheritance tax that will be payable on your estate after your death. Inheritance tax planning services involve reviewing your assets and liabilities, identifying tax-saving opportunities, and developing strategies to reduce the inheritance tax liability for your beneficiaries. This may include making gifts, setting up trusts, or using other tax-efficient estate planning strategies. Inheritance tax planning services help ensure that your wealth is passed on to your heirs in the most tax-efficient manner possible.

Tax Investigation

Tax investigations are thorough examinations conducted by tax authorities to ensure compliance with tax laws. These investigations may be triggered by discrepancies in tax returns, random selection, or tips from informants. During an investigation, authorities scrutinize financial records, including income statements and receipts, to verify reported income and expenses. They may also interview the taxpayer or their representatives to gather additional information. If discrepancies or non-compliance are found, the taxpayer may face penalties, fines, or legal action. It’s essential for individuals and businesses to maintain accurate records and seek professional advice to navigate tax investigations effectively and avoid potential consequences.

Corporation Tax

Corporation tax is a tax imposed on the profits of businesses and other entities that are treated as corporations for tax purposes. In most jurisdictions, corporations are required to pay tax on their worldwide income, although some countries only tax profits earned within their borders. The tax rate can vary widely between jurisdictions and may be a flat rate or a progressive rate based on the level of profits. Many countries allow corporations to deduct certain expenses from their profits before calculating the tax, which can include costs related to producing goods or services, employee wages, and interest on loans.

VAT Registration

Value Added Tax (VAT) registration is a process through which businesses register with tax authorities to collect and remit VAT on behalf of the government. The threshold for mandatory VAT registration varies by country but is often based on the business’s annual turnover. Once registered, businesses charge VAT on their sales and must file regular VAT returns, detailing the VAT collected and paid. VAT-registered businesses can typically reclaim the VAT they have paid on business purchases, reducing the overall tax burden. Failure to register for VAT when required can result in penalties and fines from tax authorities.

VAT Returns

VAT returns are regular reports that VAT-registered businesses submit to tax authorities, detailing their VAT transactions during a specific period, typically quarterly or annually. Businesses calculate the VAT they have charged on sales (output tax) and subtract the VAT they have paid on purchases (input tax). The resulting figure is the net VAT due to be paid to or refunded by the tax authority. VAT returns also require businesses to provide details of their sales and purchases, along with any adjustments or corrections needed. Late or inaccurate VAT returns can lead to penalties, so it’s crucial for businesses to ensure their returns are submitted correctly and on time.

VAT Planning and Disputes

VAT planning involves strategic decision-making by businesses to minimize their VAT liabilities while remaining compliant with tax laws. This may include structuring transactions to take advantage of VAT exemptions, reliefs, or reduced rates, as well as optimizing cash flow and managing VAT reclaim opportunities. However, disputes with tax authorities can arise due to differences in interpretation of VAT regulations or disagreements over VAT treatment. Resolving these disputes often requires thorough documentation, negotiation with tax authorities, and, if necessary, appeal processes. Effective VAT planning can help businesses mitigate the risk of disputes and ensure smooth compliance with VAT regulations while optimizing their tax position.

Payroll and End of Year Returns

Payroll and end-of-year returns are critical aspects of managing employee compensation and tax obligations for businesses. Payroll involves calculating and processing wages, salaries, and deductions for employees. Employers must also withhold income tax, social security contributions, and other relevant taxes from employee paychecks and remit them to tax authorities. At the end of each tax year, employers must submit end-of-year returns, summarizing payroll information, including total earnings, deductions, and taxes withheld, for each employee. Accurate and timely submission of these returns is crucial to ensure compliance with tax regulations and avoid penalties or legal issues.

Employment Status and IR35 Defence

Employment status determines whether an individual is classified as an employee, self-employed, or a worker for tax and employment law purposes. The IR35 legislation in the UK aims to prevent tax avoidance by individuals who provide their services through an intermediary, such as a personal service company, but would be considered employees if they were contracted directly. To defend against IR35, businesses and contractors must demonstrate that the nature of their working relationship is genuinely self-employed, not one of disguised employment. This involves considering factors such as control, substitution, and mutuality of obligation. Seeking professional advice and having clear contractual agreements can help strengthen IR35 defenses.

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