Taxation Services

Tax Returns:

When it comes to managing our finances, taxation is one of the most difficult aspects to understand and deal with.  As a full service accounting firm, AA Accountants UK offers support on all aspects of taxation, particularly:

  • All forms of income tax
  • Property Tax, (there are profitable tax minimisation strategies)  and
  • Capital Gain Tax (It is wise to look before you leap.  It can save you thousands).

We are registered tax agents and can give you the full range of taxation services to help you comply with all your tax obligations, but not pay any more than you have to.  We carry the necessary professional indemnity insurance and if we make a mistake you are protected.  We have extensive experience in handling tax affairs for:

  • Individuals – the Self-assessment tax return,
  • Companies – the Corporation tax return, and
  • Partnerships – the Partnership tax return.

The tax return regime can be a minefield.  The powers of the HMRC are extensive and their penalties can be severe if you get it wrong.  It does not matter if you acted in good faith: the penalties still apply (it’s called strict liability).  We will:

  • CALCULATE your tax liability, making sure that you receive all the deductions you are entitled to,
  • COMPLETE your tax return,
  • SUBMIT your tax return, and then
  • ADVISE you how to minimise your tax liability in the future.

VAT Returns and Registration:

It is crucial that you comply with your VAT obligations.  This is a complex area of taxation that filters down into every aspect of your business.   People generally find difficulties in:

  • Registration,
  • Documentation,
  • Understanding the rules,
  • Submitting the VAT returns, and
  • Handling audits.

Registration:

To help you with registering for VAT, we would:

  • ADVISE you if you need to register or if it would be beneficial to register,
  • ADVISE you on the best VAT scheme to use, and
  • COMPLETE and SUBMIT your registration forms.

Documentation:

Getting the documentation right is the key to a hassle-free relationship with the VAT inspector.  There are two ways we can help:

  • WE PROVIDE a BOOKKEEPING service for you and provide online accounting. We then use that data to complete your return, or
  • YOU DO the BOOKKEEPING, then give us your books and let us complete the return for you.

Understanding the rules:

It is very hard to keep on top of your obligations if you or your staff do not understand what is involved.  We can help!  We can arrange to:

  • VISIT you at your premises to check your bookkeeping, and/or
  • PROVIDE training on the software system of your choice.

Submitting VAT returns:

However you organise it, your place or ours, we can make sure that your VAT returns are submitted on time and in the proper form.

Handling audits:

VAT audits are time consuming and stressful.  If and when it happens, we are there with you to see that all the proper documentation is available and the process is carried out in a fair and professional manner. 

Contractors and IR35:

What are the advantages and disadvantages of contracting?  There are several ways of looking at the issue and doing it. At AA Accountants UK, as experienced contractor accountants, we understand what is involved.  We offer a free consultation to discuss the tax implications of making a decision on this issue.  It would include:

  • Company formation including company registration,
  • Annual Accounts,
  • Online accounting,
  • Corporation tax returns,
  • Personal Tax Returns,
  • Company secretarial service,
  • Bookkeeping services,
  • VAT Returns,
  • PAYE Returns,
  • Tax computations,
  • Review of contracts for IR35 status, and
  • Provision of anti IR35 draft contracts.

R&D Tax Relief:

The Government provides attractive incentives for innovative enterprise in the form of R&D tax relief.  Broadly speaking, this means that any company developing new processes or products that advance science or technology, even modestly, can claim tax relief.  There are different regimes that apply to large, and small and medium enterprises (SMEs).  SMEs are subject to more favourable treatment having no minimum spend or limit on refunds.  For example, qualifying entities can claim a higher proportion of relevant R&D expenditure for items such as staff, software and raw materials.

As an eminent accounting firm and tax practice, AA Accountants UK will:

  • ASSESS your eligibility to claim,
  • PREPARE your claim in a way that gives you the best chance of success,
  • ADVISE you on the documentation you need to keep, help to
  • DEVELOP efficient systems to track your R&D expenditure, and
  • SUBMIT the claim for the resulting concessions.

Our approach is to build R&D into your business planning as part of your ongoing strategy to build your business.

Tax Planning:

We are all obliged to pay our share of taxes according to law.  Taxation pays for all the services government provides for us, the health system, social security, the police, defence and so on.  But there is no obligation to pay more than the law requires.  Tax minimisation is not the same as tax avoidance: it involves paying no more than the law demands.

Any good accountant can prepare your tax return and advise you of your tax position and liabilities.  But, at AA Accountants UK, we go further and try to minimise your tax liabilities by integrating tax planning into your business planning.  We negotiate with HMRC to make sure that our clients’ rights are preserved. So many new clients have been surprised at how much we can achieve with our extensive experience in this area.  They feel this justifies their decision to choose us as their friendly, knowledgeable and trustworthy accountant.

Tax Enquiries & Investigations:

The HMRC runs a series of programs to maintain the integrity of the taxation system.  This includes both random audits as well as targeted investigations.  A tax investigation is not a pleasant experience for any business.  The investigator is a tax expert, while you are expert at your business.  Without a tax expert on your side, it is very easy to find yourself accused of avoiding tax and liable to substantial penalties.

There is no way to avoid a random examination.  But the targeted ones are another matter.  We know how the HMRC operates and what its operating procedures are.  We will advise you on how to avoid their attention as far as that is possible and fight with you to ensure that the process is fair and legal.  We will talk you through the process, explain what to expect and support you every step of the way.

Anti-investigation Scanning Checks:

Apart from random investigations, we can help you avoid an investigation into your affairs.  We know what the triggers HMRC uses when assessing returns and make sure that your matters are fully explained when we submit them.  Every Tax Return or set of accounts that we submit goes through an anti-investigation scanning check. We want to identify any areas that need explanation if we are to avoid investigation.  As a result we are able to substantially reduce the risk of investigation.

Tax Investigation Fee Protection:

HMRC has the power to investigate the tax affairs of any individual, partnership or corporation at any time, with or without a specific reason.  Regardless of the outcome, mounting a robust defence can be expensive.  Many clients are concerned that they will not be able to meet all the costs involved. We at AA Accountants UK are sensitive to this anxiety.  Therefore, we have set up our Taxwise fee protection scheme to provide them with the best defence should they ever need it.

Don't forget to let us know if you'd like more information about any of our services, including bookkeeping services, payroll services, contractor accountant services and company registration.

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