Accounts and tax returns preparation & filing
SW Management Accountants prepare accounts for sole traders, partnerships, limited liability partnerships and companies to help in completion of self-assessment tax returns and corporation tax returns and arrange to file them with Companies house & HMRC.
Furthermore, we identify areas where we can assist in mitigating your tax liabilities where ever possible. Identify areas of the business that give you the most opportunity to make improvements in terms of increase in profitability and reduce cost.
Browse our taxation services below & call us on 0800 061 4336 or request more information online.
Tax Returns can be completed for:
Individuals and sole traders;
The self-assessment regime is getting complicated and HMRC enquiry powers are extensive. It's important that:
All backup records are retained for the appropriate period of time;
Returns are correctly completed;
Returns are filed on time.
As well as the completion of your return we can assist with the following:
Advice on your tax liabilities;
Completing all the necessary tax computations;
Dealing with all correspondence from HMRC, taking the worry away from you;
Identifying suitable tax planning opportunities;
Negotiating with the Collector if necessary.
Tax enquiries and investigations
Anyone who submits a tax return is a potential target for an HMRC tax investigation.
Many tax investigations are random. Unusual fluctuations, undisclosed accounts and random spending can also prompt an enquiry into individuals and companies.
HMRC has powerful new software that can trace even the smallest discrepancy in spending or earnings, promoting an investigation into individuals and businesses. When HMRC investigates it can drag on for a year or more, creating mounting costs and rocketing stress levels.
If HMRC states its intention to investigate your tax payments don’t panic contact us, your accountant and best defence. We will translate the many complicated questions, manage the entire conversation with the taxman, help you submit the required information and minimise the impact on your business or personal life.
Property tax is another complicated area and we can advise you on the following:
Capital Gains rollover and holdover considerations
Making the most of the Principal Private Residence election;
Stamp duty planning;
Tax efficient mortgage structures;
Tax issues on the sale of part of your residence;
Tax reduction strategies for rental income;
Trading income versus Capital Gain considerations and advice;
VAT considerations of property deals;
What is a repair and tax deductible and what is capital and not;
§ When to use a Limited Company to save tax.