Corporation tax services
Under Corporation Tax Self Assessment (CTSA), the legal responsibility for correctly calculating the corporation tax liability falls on Directors. We understand the issues facing owner-managed businesses and can prepare tax returns in a timely and efficient manner. We will also calculate your company's tax liability and assist with the calculation of any quarterly instalment payments due.
The increased reporting obligations, investigation policies on the part of the tax authorities and harsher penalties for non-compliance mean that your time and resources can be taken up with tax administration. We will help to minimise corporate tax exposure and relieve the administrative burden of compliance with current tax legislation. Effective corporate tax planning can also result in significant improvements in your bottom line.
If you are self-employed or run your own business, you need to understand that taxes do not automatically come out of your income, you need to complete an online self-assessment tax return so that HMRC can collect the right amount of tax from you. This process often catches people out, either through missing deadlines or not completing the form correctly, which can incur penalties from HMRC.
Our team of expert accountants help individuals to complete self-assessment tax return online and submit it to HMRC.
Self-Assessment involves completing an online or paper tax return in order to tell HMRC about your income and capital gains (profits on the sale of certain assets), or to claim tax allowances or reliefs against your tax bill. HMRC use the figures on the tax return to work out your tax bill, or you can work it out yourself. We believe, it is essential that your self-assessment is completed ahead of the deadline to ensure efficient tax planning and to smooth out any issues before the due date.
We have the skills, knowledge and software, which is engineered to take the headache out of the form filling and compliance aspect of Self-Assessment.
We can provide you with practical advice on personal tax and the planning opportunities available to you. In recent years, HMRC have increased the penalties for failing to file a return on time and for errors. We can complete tax returns, calculate any tax liability and advise you on exactly when to make payments and how much to pay. We take pride in saying that in tax year ended 5th April 2019 we hold the record of submitting over 5000 tax returns across the group and not a single tax return was late or incurred any late filing penalty.
We can provide you with tax planning tips to minimise your tax bill and can discuss a useful list of actions for individuals and companies that might be useful in your circumstances.