Services


We offer a wide range of services including: Self Accessment Tax Returns, VAT Returns, Corporation Tax, Payroll, Year End Accounts.


Self Accessment Tax Returns

By giving you a fixed, competitive price, we can take the worry away when it comes to self assessment tax returns; allowing you to concentrate on running your business.

This process helps to minimise your risk of a HM Revenue & Customs enquiry into your tax affairs. If you are experiencing cashflow problems, we can explore the possibilities of deferring your tax payments or negotiating a payment plan with HM Revenue & Customs on your behalf.

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 staff at HM Revenue & Customs are not tasked to advise you on how to organise your affairs and minimise your tax. Therefore, if you want to make sure you are paying the right amount of tax, you should consult a professional.


Payroll

Meeting your obligations as an employer can be incredibly daunting especially with the introduction of Real Time Information (RTI).

RTI means employers share information with HM Revenue & Customs (HMRC) on-or-before payments are made to employees we use HMRC-approved, RTI-compliant payroll software.

We can also set up an Employers' Scheme with HMRC for you and we can advise you of whether employees should be added to the payroll or not and deal with the relevant forms/ submissions for you.

Throughout the year, we will calculate your employees' net pay, report the figures and information to HMRC and provide you with payslips to pass on to your staff. We can calculate the tax and National Insurance deductions applicable; even if your employees are on sick, paternity or maternity leave.

We can also help you to keep track of their holiday entitlement and can file all the starters and leavers forms on your behalf. Late payments or underpayments of employers' deductions can now lead to hefty penalties, so we can help you avoid incurring these.

VAT Returns

If you're just starting out, we can 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.

In contrast, we will also monitor your position for when we think you are able to and would benefit from deregistering.

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, we 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 allowing your us to take care of your VAT affairs, not only gives you peace of mind, but it should also avoid you wasting your hard-earned cash on penalties and interest.

Corporation Tax

The first thing you must do is register your company with HM Revenue & Customs (HMRC), using its official forms, so it knows you are liable for corporation tax.

If your company is liable for corporation tax, you must calculate how much profit your company makes for each accounting period and how much corporation tax is payable on those profits.

This information must be reported to HMRC on a corporation tax return form and accounts and tax computations must be submitted to HMRC in support of the return.

There are strict penalties for filing late returns and interest is charged on tax paid late, so it is important that the deadlines, which are determined by your company's annual accounting date, are adhered to.

We can assist with the preparation of company accounts, company tax returns and tax computations and will also be able to provide advice on any tax planning areas that may benefit you and your company.

Company Formations

We welcome people who are about to start in business, or those with new businesses.

We can help you from day one by looking at your cashflow position, which is one of the most important factors for any new business; by helping you to find the best bookkeeping system for your business and by discussing your options for the best tax savings available.

Have you set out your business objectives in writing? Can you demonstrate qualified experience in the type of business that you want to launch? How are you going to finance the company? What are your expectations for sales, profitability and investment in assets? Have you consolidated all this information in a formal business plan?

Even if you don't want to borrow money, a good business plan will help you to understand your current position and give you a good indication of your future possibilities. At A&G Accountants Limited we know that a good business plan is imperative to your business, especially given the current economic climate.

You should decide whether or not it's in your best interest to register for VAT from the time of starting up. Whether you decide to register now or in the future both the profitability and the cashflow of your business will be affected.
One of the main advantages of registering for VAT when you do start-up is you'll be able to reclaim VAT on purchases made before you start trading. Don't worry though, if you find it's best to register at a later point in time HMRC have made it possible for traders to reclaim VAT prior to their registration provided the claim is made within certain time limits. For further guidance on VAT registration please see our VAT section.

Tax Investigations

The best route for avoiding an investigation would be to employ an accountant first and foremost. Using an accountant should ensure that your tax return is accurate and complies with the UK tax regime.

The costs associated with an investigation can be devastating, and even if you are successful in defending yourself against HM Revenue & Customs (HMRC), you cannot recover your costs from the department.

A&G Accountants Limited also uses specialist software which will analyse the completed tax return to check for anything which may arouse suspicion by HMRC.

HMRC does, however, carry out a number of random investigations which are, unfortunately, unavoidable. So even if you believe that there are no unusual entries in your accounts or on your tax returns, an investigation could still happen to you.

Contact us via email: info@agaccountantslimited.co.uk