The UK tax system is increasingly moving towards a “self assessment” approach under which the taxpayer is primarily responsible for working out how much tax should be paid, sending in the return and for paying the tax by the right time.
HMRC then has some time to look at what has been provided and the opportunity to challenge it. If the initial self assessment was wrong, there will be interest to pay on any under- or late payments and penalties can be substantial. This can be a risky situation for the taxpayer.
TsH offers compliance services that provide you with assurance that you know what you are doing in meeting your tax reporting and payment responsibilities. Our services include, for example:
- Business accounts for partnerships and sole traders
- Company accounts and filing obligations at Compensi House
- Company accounts specially formatted to meet HMRC requirements
- Corporate tax returns
- Company secretarial services to ensure your paperwork is in order
- Dividend vouchers and the appropriate documentation such as board minutes
- Personal self-assessment compliance
- Annual Confirmation Statements for Companies House
Running your business
You know about running your business and possibly don’t take to the admin work. We are here to help. The rules seem to become more demanding each year and the consequences of mistakes are not always apparent. We can share the burden with you:
- Automatic enrolment pensions
- Payroll management through our state-of-the-art payroll bureau
- CIS deductions and monthly returns
We are accredited by both Xero and QuickBooks and provide support for each.
Have you chosen the most appropriate VAT scheme for your business? Were you aware that there are choices and the financial differences can be significant. Let us guide you through the options. Ever-changing regulations and the growing demands of HMRC mean VAT compliance can be a challenging administrative process. We can help to ensure that you comply with the regulations at the right time and that payment errors are not made. To help you manage this complex area, we provide an efficient VAT service, which includes:
- assistance with VAT registration
- advice on VAT planning and administration
- use of the most appropriate scheme
- VAT control and reconciliation
- help with completing VAT returns
- planning to minimise future problems with HMRC
- negotiating with HMRC in disputes and representing you at VAT tribunals if necessary.
Brexit has complicated the VAT situation for any business that imports or exports goods. Our historical connection with Northern Ireland gives us insight to advise on navigating the requirements. We are supported by Centurion VAT Specialists for technical detail and, if required, negotiation with HMRC.
Require more information?
If you would like more information or would like to speak to us direct then call us on 01844 218836. Or if you would prefer, ask us a question online.