Business Tax Accountants
Every business has its tax obligations, whether that’s sole traders and partnerships dealing with self-assessment tax returns and income tax, or limited companies dealing with annual returns and corporation tax.
Tax returns themselves are complex documents that require a true grasp on your bookkeeping and accounting to get right. Get them wrong, and you could end up paying too little in tax and get in serious trouble HMRC, perhaps even fined. You might even pay too much and be subjected to a long and frustrating refund process.
With our help, your business will remain tax compliant from day one. We’ll make sure we’re reporting every source of income your business has to reach an accurate figure from which HMRC will calculate your tax liability. With good bookkeeping and accounting and strong tech innovations, we’ll turn a complex process into an understandable one.
But to us, business tax isn’t just about compliance. After all, even if you report your income correctly, you might pay more tax than you need to if you didn’t claim the tax reliefs and credits you’re entitled to. The system has been designed to help you, but HMRC won’t claim the reliefs for you. We will, though.
That could include marginal relief, creative industry tax relief and capital allowances to reduce your corporation tax bill. Companies can also reduce their R&D costs with R&D tax relief – the hard part is making sure your claim holds water.
Sole traders will benefit from smart tax planning, too, mainly by deducting their allowable expenses from their pre-tax profit. Smaller profit means a smaller tax bill, and a smaller tax bill means more of your own money to use in your business however you see fit.