Taxation

As tax advisors our objective is to work closely with you to ensure you remain compliant with the ever-changing legislation and save you time and money through effective tax planning.

We will help you to understand the tax implications of your actions and keep you up to date with upcoming changes in tax such as basis period reform and making tax digital for income tax.

Personal tax services

(including sole-traders and partnerships)

Sole traders and partnerships must file their self-assessment tax returns by 31st January following the tax year to avoid any penalties. We take the headache out of completing your self-assessment tax return, advise you of any tax liabilities and when these are due for payment.
We can also provide you with practical advice on tax planning opportunities for your business, capital
gains and estate planning for inheritance tax.

Corporation tax services

Corporation tax is paid by Limited companies at a rate of 19% – 25% depending on the level of profits achieved. We can help you minimise corporation tax exposure through effective tax planning and also to plan ahead for the cash outlay of paying your Corporation tax by preparing your return in a timely manner.

VAT

The ever-changing regulations and increasing demands of HMRC mean VAT compliance can be a difficult admin process where mistakes can be made. We can help take the stress out of complying with these regulations and provide an efficient and cost-effective VAT service to include software to comply with Making Tax Digital (MTD) for VAT.

PAYE

Pay as you earn (PAYE) is used to collect income tax and national insurance contributions from employment income. It is the employer’s responsibility to ensure the correct deductions are taken before paying an employee. We can help you set up a PAYE scheme for your business, help decide what to pay yourself and your employees and ensure you remain compliant by submitting the relevant submissions to HMRC in a timely manner.

HMRC Enquiries and Investigation

Being the subject of a tax investigation or enquiry by HMRC can be a stressful and worrying time. With our experience, we can help and support you in dealing with these whether it’s an individual’s tax return, company’s affairs, or investigations into PAYE and P11d compliance.

Tax Updates

The next tax change facing sole traders and partnerships currently is basis period reform. From 2024/25, all unincorporated businesses will be taxed on the profits generated between the start and end of the tax year, from 6th April to the following 5th April. This will apply regardless of the year the business prepares its accounts to.
Making tax digital for income tax self-assessment (MTD for ITSA) is another major change in the pipeline for unincorporated businesses. It is due to commence from 6 April 2026, meaning the current Self-Assessment tax return will be replaced by 5 new reporting obligations, being quarterly updates followed by an end of year final declaration. Under this new regime, businesses will need to use digital accounting software, which is MTD compliant to submit these returns. We understand how daunting these upcoming changes can be so we will provide you with support and guidance to help make the process as pain free as possible.