Tax Planning for Businesses, Individuals and Families
Posted on 11th March 2022 at 14:00
No matter who you are and what you do, tax is a universal certainty. Luckily for sole traders, limited companies, entrepreneurs and families around the UK, TreyBridge Accountants specialises in managing all forms of tax and helping people to reduce their tax bills.
Tax management for sole traders
If like 60% of small businesses in the UK you’re a sole trader, you benefit from less tax admin and lower costs associated with it. The way that your tax works is relatively simple, as you pay personal income tax on any taxable profits generated by your business. This is managed through a self-assessment tax return, which includes all revenue and expenses.
Though self-assessment forms are quite straightforward, hiring TreyBridge Accountants to manage your returns for you comes with multiple benefits, ranging from saving time to ensuring that all tax-saving opportunities are applied across your business.
Tax consultancy for limited companies
Many self-employed people decide to set up limited companies either from the very start or further down the line. Whilst the tax system becomes more complex, directors of limited companies benefit from a lower personal tax bill and a limited amount of financial responsibility if the business goes bankrupt.
With a limited company comes a lot of paperwork, including balance sheets, records of profit and loss and annual end-of-year tax returns. Meanwhile, the confirmation statement is an important document that helps Companies House to ensure that their records are accurate.
Due to the large volume of data and reporting involved, very few limited companies manage their own tax, as taking on an outsourced accountant guarantees that everything is properly monitored, reconciled and logged before being filed in the appropriate way, all while adhering to incredibly strict compliance regulations. We can also advise on opportunities such as R&D Tax Credits, customised tax reduction strategies and capital allowances on commercial property.
Tax planning for individuals and families
The tax specialists here at TreyBridge Accountants are trained, qualified and highly skilled in all forms of taxation. Whether you’re an individual who’s only just become self-employed, a start-up that needs to invest before any revenue can be made, a limited company with anywhere from one to hundreds of employees, or a not-for-profit organisation helping its local community, you need to have someone on your side with a finger on the pulse of legislation, regulatory systems and the latest accounting software.
Meanwhile, we help families to reduce their tax bills in a variety of ways. In fact, we helped one family to save over £130,000 in inheritance tax, allowing them to leave more of their estate to their loved ones. We can also provide guidance on tax efficient ways of accounting for school fees, which can save you money both today and over the course of many years.
Get in touch
As the old HMRC slogan goes, tax doesn’t have to be taxing. To find out more, call our Northern office on 01482 235575, our London office on 0207 885 0605 or fill in the contact form below.
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