Taxation

Whether you are a director of a limited company or are self-employed, the dread of having to complete tax returns is something which is all too common for those who run their own businesses.

We understand the pressures of remaining on top of your taxation affairs, whether it’s Self– Assessment, Corporation Tax or VAT Returns, we aim to take the stress out of the situation for you. By engaging our services, you can be assured that we are constantly reviewing your affairs to ensure that the exposure to all forms of taxation is kept to a minimum.

We will prepare all Tax Returns for your review and signature before submission to H M Revenue & Customs. We will also tell you how much tax is due, and advise you when payments should be made. We will advise on opportunities to save tax and make recommendations on appropriate claims and elections.

We can prepare VAT returns on or off site at your convenience. Our excellent service levels will mean that we turn-round information quickly ensuring you do not get penalised for submitting late returns. As a small business ourselves, we know how quickly filing deadlines come and go. We will provide you with reminders and simplify your book keeping so that you can spend the minimum amount of time worrying about remaining compliant.

We can also offer advice on your Pay As You Earn situation, including the myriad of forms and returns, many of which carry accumulating penalties if not completed timely and accurately. We are more than happy to give general advice on any tax matters that are causing you concern.

Corporation tax services

Under Corporation Tax Self Assessment (CTSA), the legal responsibility for correctly calculating the corporation tax liability falls on business owners. We understand the issues facing owner-managed businesses and can prepare tax returns in a timely and efficient manner. We will also calculate your company's tax liability and assist with the calculation of any quarterly instalment payments due.

The increased reporting obligations, investigation policies on the part of the tax authorities and harsher penalties for non-compliance mean that your time and resources can be taken up with tax administration. We will help to minimise corporate tax exposure and relieve the administrative burden of compliance with current tax legislation. Effective corporate tax planning can also result in significant improvements in your bottom line.

Personal tax services (including sole-traders and partnerships)

We are specialists in income tax, capital gains tax and inheritance tax.

Self Assessment

We have the expertise and software to take the headache out of the form filling and compliance aspect of Self Assessment. We can provide you with practical advice on personal tax and the planning opportunities available to you. Over recent years HMRC have increased the penalties for failing to file a return on time and for errors. We can complete tax returns, calculate any tax liability and advise you on exactly when to make payments and how much to pay.

Personal tax planning

Everyone who is subject to taxation needs professional advice and support if they are to optimise their tax position and ensure they meet the compliance requirements. Our specialist tax team can provide you with year-round advice on all aspects of personal taxation.

Estate planning

Few of us like to think about dying; however the relevant legislation requires us to plan well in advance. This means making the necessary provisions now. There are many tax opportunities available and the earlier arrangements are made, the greater the chance of taking full advantage of our complicated tax system.

It is important when planning to transfer an estate that adequate provision is made and getting the right balance requires considerable skill and foresight – along with a detailed knowledge of the current tax regime. We provide a discreet comprehensive estate planning service that includes:

  • help with planning and reviewing a will
  • making full use of exemptions and lower tax rates on lifetime transfers
  • optimising lifetime transfers between family members
  • transferring agricultural or business property
  • transferring assets into trust
  • arranging adequate life assurance to cover potential inheritance tax liabilities.

VAT

Ever changing regulations and the growing demands of HMRC mean VAT compliance can be a difficult administrative process. We can help to ensure that you comply with the regulations and that overpayments are not made. To help you manage this complex area, we provide an efficient, cost-effective 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.

HMRC Investigations and Enquiries

Being the subject of a tax investigation or enquiry by HMRC can be a stressful and worrying experience. We have a wealth of experience in dealing with HMRC investigations, whether they are enquiries into an individual’s Tax Return, more detailed enquiries into a company’s affairs or employer-related investigations into PAYE and P11d compliance. If you’re the subject of an investigation, we can provide expert help and support.

Tax protection

With the increased risk of such investigations it may be worth considering taking out our annual insurance policy to protect you and your business from unexpected costs; an investigation will undoubtedly result in additional accountancy work being undertaken. The amount of work will depend upon the complexity of the case but the cost could be substantial.

Require more information?

If you would like more information or would like to speak to us direct then call us on 01724 626000. Or if you would prefer, ask us a question online.

Have dealt with Andrew Thomas Accountancy Practice for over 5 years now. Every step of the way, they are always very professional and helpful in dealing with my Accountancy & Business needs from Year-End Accounts, Payroll, Tax Returns and the occasional Business Advice! Keep up the good work guys!

Andrew Corcoran, Local Business Owner

Andrew Thomas Accountancy has provided invaluable assistance to JRC over the years in all aspects of its tax obligations. Always available with advice and information to ensure we get the best out of the complicated tax system. Have no hesitation in recommending their services to any organisation.

JRC Knowledge Associates Ltd, Jeffrey Ramseyer, Director

Working with Andrew Thomas Accountancy is a pleasure. They are always there to help and the support we have received has been prompt, easy to understand and valuable. When starting up a business having an approachable, experienced and supportive accountant is vital, we have this from Andrew Thomas & wouldn’t hesitate to recommend them.

Karen Locking, Evolve Business Developments

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Andrew Thomas Accountancy Ltd, 82 Oswald Road, Scunthorpe, North Lincolnshire DN15 7PA
Registered in England. Company number 6312617. VAT number 921129258. ACCA Registration number 1553641