//Business Taxation

 

As accountants it is our job to ensure your tax bill is kept as low as possible and all the tax deductible expenses are claimed.

We are able to offer an in depth coverage of all UK tax matters from planning to tax enquiries and representing our clients’ interest in front of tax and VAT tribunals.

Our strengths lie in applying our detailed knowledge of your affairs at a senior level to minimise your tax exposure while balancing this with a proper commercial judgement.

Limited Companies

Companies with profits of under £300,000 pay tax at 20% on all their profits. However, if your profits are above about £15,000 per year, you can still make some tax savings, because:-

  • If you are a basic rate tax payer, class 4 National Insurance is charged at 9% on unincorporated business profits, as well as the 20% basic rate of income tax, but there is no National Insurance charge or further income tax charge on dividends.
  • If you are a higher rate taxpayer, the savings can be even greater, as the company pays tax at 20%, instead of you paying tax at 40%. Normally dividends would be limited to use up your basic rate tax band, and then you would have no further personal tax to pay.

Compliance

  • Dealing with payroll compliance and the preparation of P11D’s and VAT returns.
  • We have an outsourcing arrangement with payroll specialists to deal with all our clients' employer compliance requirements.
  • Undertaking PAYE and VAT compliance reviews.