Versatile Tax Services for Business Owners
Posted on 19th August 2020 at 15:00
No matter who you are and what you do, tax is a universal certainty. Luckily for sole traders, limited companies and entrepreneurs around the UK, TreyBridge Accountants specialises in managing all forms of tax and ensuring that business owners remain in HMRC’s good books.
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 return for you comes with multiple benefits, ranging from saving time to ensuring that all tax-saving opportunities are applied across your business.
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 company tax returns, balance sheets, records of profit and loss, and assets and liabilities. Meanwhile, the confirmation statement is an annual 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 a specialist accountant guarantees that everything is properly monitored, reconciled and amalgamated before being filed in the appropriate way, all while adhering to incredibly strict compliance regulations.
Other types of tax
The 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.
When you outsource your tax management to TreyBridge Accountants, you benefit from exceptional skills, the utmost attention to detail, timely delivery and insightful advice that helps you to improve the financial health of your business. We can also advise on opportunities such as R&D Tax Credits, customised tax reduction strategies and capital allowances on commercial property.
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 or our London office on 0207 885 0605. Alternatively, you can fill in our contact form and one of our tax experts will get back to you right away.
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