Accountants in Ashford

Tax Planning

Tax is a fact of life, but paying too much tax is never on anyone’s list of priorities. Every year, UK taxpayers give away several billion pounds more than they need to. In 2022 the figure was thought to be around £4.6 billion.

The government creates many legitimate opportunities for you to reduce the amount you pay in tax. However, you may not be aware of them all, or you may be unsure of how to take advantage of them or, like many people, you may have known but simply not done anything.

Tax is a complex area, and becomes more so if you run a business or have several sources of income. Numerous factors will affect the amount of tax you should pay each year, including your job, savings and personal circumstances. But for many of us, fear of paying too little tax, and the possible consequences, means we can end up paying too much.

The most common areas where we tend to waste tax are:

CIS Services

Administration of the Construction Industry Scheme (CIS) requires a considerable amount of extra work, along with the risk of exposure to severe penalties for non-compliance. Delegate this responsibility to a business partner such, that you can rest assured that you will benefit from an all-encompassing and fully compliant solution.

Our service includes:

– Registration with HMRC as a contractor

– Registration and verification of sub-contractors

– Calculation of deductions

– Preparation of payment statements

– Preparation and submission of monthly returns

Accounts Preparation

Accounts need to be prepared for various reasons, including meeting internal management needs and complying with external regulatory bodies, such as HMRC. Whether you operate as a Limited Company, LLP, or Sole Trader, our accounting services encompass all aspects of accounts preparation. This includes handling corporation and personal tax returns, VAT returns, and more.

It is imperative that your accounts are not only accurate but also prepared in accordance with relevant laws and accounting standards. We are committed to achieving this efficiently, minimising your time involvement. Additionally, we proactively identify any opportunities or issues during the process and promptly bring them to your attention, enabling you to capitalize on opportunities or address challenges.

For Limited Companies, statutory accounts must be prepared and submitted annually to Companies House, along with the filing of an annual Corporation Tax Return to HMRC. Rest assured, we will handle all HMRC requirements and provide you with ample notice regarding the corporation tax payment due.