When it comes to compulsory tax contributions whether it is income tax, corporation tax or VAT, you want to ensure you pay the minimum amount required by law. Keeping up to date with the latest rules, reliefs and allowances can be a challenge but it is essential to know how they apply to you so you can manage your finances in a tax efficient way. Whether you are a sole trader, business partnership or limited company, our experienced tax accountants will use their sound knowledge of the latest tax rules to tailor effective strategies that ensure you minimise your liability, comply with regulations promptly and maximise your wealth.
Part of running a successful business involves understanding and complying with your tax requirements as and when they arise. Whether you are starting a new venture or are an established company, it is essential to know your position in relation to VAT. At Karl Jackson, we provide the professional advice you need to make an informed decision on the right time for your business to register for VAT and handle the paperwork on your behalf. Our qualified accountants can also offer expert advice on VAT tax schemes and prepare and file your VAT return directly with HM Revenue & Customs.
While there is no requirement to register for VAT until your income goes beyond the stated threshold, in some circumstances, it can be advantageous for a company to register for VAT from the outset. Where it is advisable to wait, we will monitor your situation and notify you at the point at which VAT registration is required. Our experienced tax accountants can facilitate the process by taking care of all the paperwork for you.
At the point of registration, it is important to know which VAT schemes your business is eligible for. Our tax accountants can advise you on the most suitable option, whether that is a specific VAT scheme or a combination of more than one.
Businesses that submit incorrect information or fail to pay VAT on time can be liable to pay penalties and interest so it is essential to keep your VAT affairs in good order. We can help your business to prepare your VAT return using your own bookkeeping records or from record keeping we have conducted on your behalf. If you require, we can also act as your agent for VAT, corresponding and filing your VAT returns directly with HM Revenue & Customs.
To learn more about the VAT services we offer, book a free consultation with one of our tax specialists.
Whether you are a company director, self-employed or a partner in a partnership, you are under a legal obligation to file a yearly tax return with HM Revenue & Customs. Preparing a tax return is not a simple process. It is essential that you know which tax code applies to your business and strictly adhere to a number of set guidelines and deadlines.
At Karl Jackson, our tax accountants will use their knowledge and expertise to prepare your tax return, ensuring that it is correct and meets all requirements. We can also accurately calculate your tax liability so that you pay the right amount of tax, file your tax return directly with HM Revenue & Customs and notify you of the amount and date the payment is due.
Alternatively, if you have already completed a self-assessment tax return, our tax accountants can look through the form to check whether you are eligible for any tax savings and can also make sure that it is completed accurately prior to submission, thus reducing the risk of your tax affairs coming under the scrutiny of a HM Revenue & Customs enquiry.
To learn more about the tax return services we offer, book a free consultation with one of our tax specialists.
When your time is spent running a company, keeping up with the latest tax rules to correctly manage your tax affairs can be a challenge. Failure to manage your Personal Income Tax increases the risk of higher tax liabilities and can result in penalties for inaccurate or late tax submissions. Failure to plan your personal wealth may put your financial future at risk.
At Karl Jackson, our expert tax accountants offer the support you need to manage your personal wealth and tax affairs successfully. Our services include; preparation of self-assessment tax returns to help minimise your tax liabilities and ensure you pay the minimum amount required by law; review of self-assessment tax returns to ensure accurate completion and prompt submission, annual reviews of taxation affairs, general capital gains tax advice and tax planning solutions to maximise wealth.
To learn more about the personal tax services we offer, book a free consultation with one of our tax specialists.
If your business is a limited company it is essential to understand and strictly adhere to corporation tax obligations. If you are a limited company based in the UK, you will be subject to corporation tax on your profits. Limited companies based outside the UK are still required to pay corporation tax where central control and management of the company is carried out in the UK or where they have branches operating inside the UK, on the taxable profits arising from UK business activities.
Your obligations include calculating how much profit your company makes for each accounting period and the amount of corporation tax payable on those profits. This information must be reported to HM Revenue & Customs on a corporation tax return form along with accounts and tax computations to support your return.
Filing your return late can result in strict penalties and tax paid late is subject to interest, so it is essential that you determine your company’s annual accounting date and ensure you meet the deadline.
At Karl Jackson, our tax accountants can use their experience and expertise to accurately and efficiently prepare your company accounts and tax returns, thus ensuring your company is compliant with all your corporation tax obligations.
To learn more about the corporation tax services we offer, book a free consultation with our tax specialists.