Every business should aim to be as tax-efficient as possible, finding legitimate ways to reduce your tax bill can expand your margins, improve cash flow and strengthen your business.
Tax is probably the least favourite word for any business owner and it’s not just because it is a levy that has to be paid to the government but also because it is such a complicated area to understand.
Our tax accounting experts are fully qualified and experienced across the whole specialist field and provide the highest standard of service and professional advice to help make sure you pay the right amount of tax and meet your legal obligations.
The specific areas of tax that our experts specialise in are as follows:
Capital Gains Tax
You have to pay Capital Gains Tax (CTG) if you make a profit when you sell all or part of a business asset. Examples of taxable assets include land and buildings; plant and machinery; shares; registered trademarks and your business’s reputation.
Strategic corporate finance advice can be beneficial in many different situations. These include mergers, business valuations, acquisitions, disposals, succession planning and exit strategies.
You must file an annual tax return if your business is incorporated and operating as a limited company. The process can be stressful, time-consuming and complicated and it is important that you submit this accurately and on-time.
R&D is one of the biggest tax reliefs available to qualifying SMEs and they can claim even if they are loss making. A startling fact is that only a small percentage of SMEs claim this relatively unknown tax relief.
Self-assessment tax returns are completed by the self-employed and are payable each January. You may also have to complete a self-assessment tax return if you receive untaxed income from other means such as property rental or savings, investments and dividends.
Business Tax Planning
Effective tax planning can significantly reduce your tax liabilities. This can help you achieve both business and personal financial goals while reducing the amount of tax you have to pay.
Any business with an annual turnover in excess of £82,000 must register for VAT and this VAT must be reported to, and where applicable paid to the HMRC on a quarterly basis.
To find your Taxation Expert you can either use our search engine or complete the quick contact form and one of our experts will call you back.