The problem many businesses come up against with tax is the changing legislation. Reading the changes and ways to treat the various elements of income and expenses takes time. We make your life easier, reviewing your business transactions and recommending the most tax efficient way to treat the different elements. Completing your return online and within deadline so you don’t have to worry.
Your annual corporation tax return (CT600) must be submitted annually and we will ensure this is done in a timely manner with you paying the minimum mount possible.
Capital Gains Tax
Capital Gains Tax is a tax on the profit when you sell or dispose of an asset that has increased in value. With the gain amount that is taxed.
Some assets are tax free and you also won’t have to pay Capital Gains Tax if all your gains in a year are under your tax-free allowances. We can help you plan for Capital Gains Tax so that you maximise the relief available and minimise the tax you must pay.
There are several ways we can help you in this area:
- Transferring assets between spouses.
- Entrepreneurs relief – taking advantage of this can reduce Capital Gains Tax to 10%.
- Rollover relief – rolling over any Capital Gains Tax on sale of certain assets when you acquire certain qualifying assets within a specified time-period.
Unfortunately, businesses can be randomly selected for a tax investigation and if this is the case you need an accountant who has experience in this field. We deal with HMRC on your behalf ensuring your rights are fully protected and that we obtain the best possible outcome.
Aside from being selected at random we are aware of the aspects of accounts and tax returns that HMRC may pick out and trigger and investigation. We carry out all our tasks with this in mind and ensure our standard of work minimises the chances of investigation.
We also offer clients Tax Investigation insurance to our clients so they do not have to worry about professional fees.