Our Services for Individuals

Tax return, Self-Assessment

Filling in your tax return needs to be completed accurately as otherwise it can cause delays in any relevant rebates or tax deductions. We can help you ensure that firstly you fill in the right forms and that they are sent to the relevant recipients.

There are both short and long forms available, and whether you need to fill in one or the other depends on your turnover. We know where these restrictions apply to ensure you fill in the appropriate form.

Like with most forms, there are some parts that will be relevant to you and others that are not, to avoid you getting confused and lost – we will do it all for you, after we’ve gained access to some simple facts about your business and it’s relevant accounts.

Some tax returns require that you send off the relevant receipts as well, we will handle this for you and group them coherently and ensure they are delivered along with the form.

We know all the relevant deadlines to fill in your forms and will ensure that these deadlines are never missed so that you never have to worry about any fines.

We will talk you through the entire process and ensure you see the final forms before they are sent off so you are fully aware of the situation before anything is submitted.

Sole trader

If you are considering becoming a sole trader we can help you get this set up in place, however, if you are still unsure whether to proceed and want more info, we can consult you on whether or not it is right for your business. Like with most business decisions, there are risks involved with becoming a sole trader, such as having to pay out all business debt even if the business fails, however there are other benefits such as the overall lower admin requirement, that we will explain in full to ensure you make the right decision.

Becoming a Sole Trader means you have certain responsibilities, such as income tax payments and NI contributions – again we will clearly outline what of these apply to you and your business so you fully understand the process and what is involved. Not only that, there are different rules applied depending on how much profit you make, we have detailed knowledge and understand of these variations and will break this information down for you to help make it easier to understand.

Anyone can become a ‘sole trader’ however, you may need a license or permit to do so, we will identify whether these are needed or not, as well as assist you in acquiring them. We will ensure that all the relevant forms are completed correctly and sent off to the correct people at HM Revenue & Customs to ensure minimum delays and duplication of work.

Like with most business set ups – there is a lot of information but not everything will be relevant to your business. We can help you extract all relevant information as quickly as possible to make the entire process simple and pain free!

Partnership

There are two levels of partnerships available; limited liability and limited partnerships. The difference between the is that LLP has the organisational flexibility of a partnership and is taxed as a partnership.

As a partnership you have one person running the business, however, all the partners involved share responsibility of the business as a whole and all partners must pay tax on the profits they make from that business.

We can help you get the partnership set up and get all the necessary paperwork in place, we can help you with the naming of your partnership; advising you on whether to relate the name to any registered trade mark you may have and ensure that the name isn’t registered anywhere else.

Our team of experts know all the rules surrounding partnership registrations and can guide you through these to ensure that your business is registered with the correct association to allow you to get your business operating as quickly as possible.

Tax Planning

Tax planning is the best way to help manage your finances and plan ahead how your business is operating. We will help you understand the different tax laws that are in place and predict how much tax you may need to pay.

We will walk through the different taxes that can be applied to your business and ensure that nothing is missed out to make you think you have more money than you would have! Not only that, we can advise on any applicable tax reliefs or allowances that could help reduce the amount you have to pay.

Once that is complete, we can also assist with planning your financial goals to ensure that these are as realistic as possible following learning of what you can expect to have to pay when it comes to tax.

Tax Planning really is an invaluable process for your business to go through to help create accurate and achievable financial goals, and also ensure there are no nasty surprises when it comes to paying your tax.

CIS

If you work in the construction industry you may need help when it comes to the Construction Industry Scheme. It has been set up to help improve payment processes to contractors and sub-contractors. However, it isn’t just construction businesses that this scheme applies to, there are other businesses it affects – we will identify whether this applies to you or not.

There can be a lot of paperwork associated with this scheme and participating in it correctly and cohesively. We will walk you through exactly what type of records you need to be making / keeping regarding this to ensure you send off all the relevant paperwork to have your team paid on time.

We have extensive knowledge of the scheme and the process and can assist you for however long you need. The monthly reports that need to be filed can be time consuming to create and so we will ensure that these are done as quickly as possible with our help.

There are also multiple branches of the CIS depending on how many you employ etc – again, we can talk you through this and identify whether this applies to you or not and if you need to sign up to any other part of the scheme.