AccountingEase

Even the simplest tax return can be challenging to prepare because the UK has the world's longest tax laws. Taxpayers need to be aware of a variety of due dates and obligations.

The most common reasons that a tax return may be required are as follows:
You are self-employed or a partner in a partnership
You are a company director
You have large amounts of savings or investment income
You have untaxed savings or investment income
You own land or property that is being let
Your household receives Child Benefit and you have income in excess of £50,000
You have income from overseas
You have sold or given an asset away (such as a holiday home or some shares)
You’ve lived or worked abroad or aren’t domiciled in the UK

The agents of HM Revenue & Customs are not instructed to provide you advice on how to set up your affairs to pay the least amount of tax. As a result, you should get professional advice if you want to ensure that you are paying the appropriate amount of tax.

At AccountingEase, we use software that has been authorised by HM Revenue & Customs to:
Complete your tax return
Calculate your tax liability
File the return online

As part of the above service, i can consult with you regarding the required payments and the dates for payment.
I can examine your self-assessment tax return to see whether any tax savings can be made. I can also analyse the form to determine whether there are any irregularities that need to be corrected before the return is submitted.

I will ease your concern about self-assessment tax returns by providing you with a fixed, competitive pricing, freeing you up to focus on managing your business.

It's reasonable to feel overwhelmed by the tasks necessary to manage payroll on top of everything else you need to do if your business has grown and you need to hire more employees. It can be challenging and time-consuming to fulfill your duties as an employer to HM Revenue and Customs (HMRC). Additionally, the added duties associated with auto-enrolment pension contributions for your employees can significantly increase the strain.

Working with me will allow you to keep up with your employer's duties while relieving yourself of the worries that dealing with payroll can entail.
I can give you access to a payroll portal that allows you to efficiently manage employee working hours, securely store employee data, including paystubs and other associated papers, and manage all annual leave for your team using the employee calendar supplied within the payroll site.
In addition, if you prefer not to use these online tools, i may still provide you with a payroll service that is customised to your requirements.
In either case, i can keep an eye on your payroll procedures, expenses, math, and deadlines to handle everything for your company.

Whether you're just starting out or have been in business for a long time, i can help you meet your VAT obligations.

If you're just starting out, i will help you decide whether you need to be VAT registered from the outset or not. And we will continue to monitor your situation, so that should it become obligatory for you to register for VAT, we can deal with all of the paperwork for you.

Whether a new or existing business, we will also look at the VAT schemes you are eligible for and establish whether you would be better off adopting one or a mixture of them. Some VAT schemes can lead to tax savings and a reduction in bookkeeping responsibilities.

We can prepare your VAT return; either from your own bookkeeping records or we can take care of your record keeping and the VAT return. And we will try to ensure that you claim as much VAT as possible, particularly on contentious items such as mixed-use expenditure and motor running costs.

As with other areas of tax, i can act as your Agent for VAT purposes and therefore correspond with HM Revenue & Customs (HMRC) on your behalf. Paper VAT returns are pretty scarce now but our software also allows us to file your VAT returns online with HMRC.

Needless to say, late VAT registration, errors, late VAT returns, and late VAT payments can all lead to penalties and possibly interest being charged. So allow me to take care of you.

The year-end accounts give you a wealth of knowledge about your company. You can check the margin on your sales pricing to make sure it is set correctly and see how the most recent performance stacks up against the previous year. Sales and spending changes are made transparent, enabling you to decide more wisely in the future. Anomalies are brought to light so they can be explored. Having year-end accounts will help your business succeed by bringing you closer to it.

Banks will also prefer to see a set of accounts for self-employed applicants looking to raise finance or apply for a mortgage.

For sole traders and partnerships, year-end accounts will form the basis of the business owners’ self-assessment tax return.
For a partnership, the year-end accounts will also state the balance on each partner’s current account. For owner-managed limited companies, the limited company accounts will house details of the directors’ salaries and the dividends paid to shareholders, which will need to tally with their self-assessment tax return.

The preparation of partnership and sole proprietorship accounts should begin well before the 31st January filing deadline for taxes. It usually takes businesses nine months from the end of the fiscal year to finish their accounts, but it's better to check the Companies House website to see when the company accounts filing date is.

Give yourself as much time as you can to prepare the accounting. Rushing can result in mistakes, and you might need to look for receipts or bank statements. It also enables you to determine whether you have made all of your eligible claims and whether there are any prospects for tax planning.