If you work on your own, own a buy to let, or are a director of a limited company, taxation today can be a worry. The rules are always changing, it gets ever more complex and the penalties for non-compliance are not light. Remember I am always happy to talk through your problem areas at no cost and with no obligation.
What do you have to lose? I can help you run your payroll system as well as offer counselling on which of the required annual returns it is necessary for your business to complete. The natural progression for many businesses is from a sole trader to partnership to limited company. I can offer strategic advice on such a move, which may or may not be best for you.
What do you have to lose? I can help you run your payroll system as well as offer counselling on which of the required annual returns it is necessary for your business to complete. The natural progression for many businesses is from a sole trader to partnership to limited company. I can offer strategic advice on such a move, which may or may not be best for you.
Services
I am a chartered tax adviser, working from an office near Musgrove Park Hospital in Taunton. Clients include sole traders, partnerships and limited companies. Currently I am dealing with 30 traders' VAT returns, on-line, 25 payrolls (RTI) and about 40 company clients. Over and above my accountancy work, I am also company secretary to many clients.
For unincorporated bodies (sole traders and partnerships) the only statutory return is your tax return, and maybe the partnership return. Limited companies need to submit annual accounts to both the Inland Revenue and Companies House within certain deadlines, otherwise fines will be incurred. One must also complete and file the corporation tax return with HMRC.
I have a number of customers who like me to prepare the quarterly VAT return and other basic book-keeping chores, leaving you free to run your business. Some of my customers are fully computerised with software packages such as Zero or Quickbooks, which allows me ongoing access to their files. Alternatively, data can be emailed to me on a regular basis for the preparation of the annual accounts.
Any savings should first be placed in ISAs to their fullest extent before the tax year end, as these are tax free vehicles. This scheme is excellent for the smaller trader, whereby instead of claiming for fuel bills, repair bills and depreciation, one instead claims for business miles, currently at a rate of 45p for the first 10,000 miles and 25p for the balance.
The natural progression for many businesses is from a sole trader to partnership to limited company. While it may be everyone's ambition to put "Company Director" in their passport, it is not necessarily a Good Thing. For many small companies with limited share capital - often just 2 or 100 issued - then banks invariably require director's personal guarantees, often supported by a charge on the director's house or other cashable security.
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