Tax Services

accounting

Individual Tax Services

Most people do not need to file a Self Assessment because they are taxed at source. But for some it is beneficial or in some cases compulsory (normally HMRC will tell you if this is the case).

The most common reasons that a tax return may be required are as follows:
  • You are self employed or a partner in a partnership
  • A company director
  • Have more than £10,000 of savings interest or dividend income
  • You want to claim a tax refund (due from CIS, EIS, SEIS, donations, personal pension contributions or only working for part of the tax year)
  • Own land or property that is being let with rental income over £2,500
  • You are due a marriage allowance
  • Your household receives Child Benefit and you have income in excess of £50,000
  • Have foreign income
  • 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
  • Income is over £100,000
  • You are a minister of any religion

You’ll especially want to do a tax return if you are due a tax rebate. You can go back several years and could be due thousands! For example, if you are entitled to a marriage allowance tax rebate, you could be due back £1188 for the last 4 years. Or if you are a higher rate taxpayer who has made personal pension contributions you may be due back 20% of your gross contributions. Or if you have professional subscriptions, have been working from home, travelling to and from multiple work destinations, or are washing a uniform, you can claim deductions which can lead to a refund of tax.

For self employed business owners, if you have experienced a loss of earnings in the current year this may present tax planning opportunities to recover tax already paid.

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.

If you are looking for help with your Self Assessment, look no further. We’re Self Assessment specialists – and we can do your tax return for an affordable flat fee of £99. 

Our process is quick and easy, no stress formula. 

mrTaxman can:
  • Complete your tax return
  • Claim any expenses and tax reliefs you may be entitled to
  • Calculate your tax liability
  • File the return online
  • Liaise with you on the amounts to be paid and when they are due

You won’t have to worry if you’ve made a mistake, as we ask you all the relevant questions to ensure you’ve covered all bases. This process helps to minimise your risk of a HM Revenue & Customs enquiry into your tax affairs. 

Corporate Tax Services

Every business has an obligation to comply with UK tax legislation. Penalties can be imposed, filing deadlines missed and lengthy enquiries may arise where tax law is applied incorrectly. 

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.

MrTaxman can: 
  • Register as your agent and deal with HMRC on your behalf
  • Prepare, review and file all corporation tax computations and returns.
  • Advise on corporate tax payments, instalment payments, interest and penalties and managing repayments.
  • Provide regular contact throughout the year to agree a timetable for the tax compliance process.
  • Deal with HMRC correspondence including the provision of advice in relation to an enquiry and preparation of replies as required.
The fee for a basic corporation tax return is a flat fee of £180.
 

In addition to ensuring that your business is tax compliant we would take an active interest in the broader activities of the business to assist with planning for business developments and changes and the identification of opportunities to optimise the tax position and minimise liabilities.

VAT

All businesses with a taxable turnover of more than £90,000 must be VAT registered and you must complete and submit a VAT return using the Making Tax Digital (MTD) service, usually every quarter. You must use digital software for your recordkeeping e.g.  Xero, FreeAgent or Quickbooks. The process can be complex and time consuming, and with the legislation constantly changing it is essential you get it right to avoid penalties.  

Our team can remove the undue stress and worry businesses often face. We are able to advise and assist on whether you can or should register for VAT and what you must do as a VAT-registered business, ensuring you are on the most beneficial VAT scheme for your business and submitting your returns to HMRC.  

Mrtaxman can help set up your accounting software for all your sales items and services so that it automatically uses the right VAT code, or review that your accounts are accurate and in line with the VAT rules. Our thorough processes ensure you keep as much of your money as possible, whilst keeping the tax man happy and supporting the financial growth of your business.

Our services include:

  • Preparation or Review of quarterly VAT returns

  • Submission of VAT returns to HMRC

  • Partial exemption calculations

  • VAT health checks

  • Assistance with VAT audits

corporate secretarial services
payroll services VAT

Tax Advice & Tax Planning

The key to Mrtaxman’s renowned specialised service is our expert tax advice and tax planning strategies. We can address specific tax issues and make sure you take advantage of all available tax reliefs to ensure you only pay your fair share to the Taxman, and that your tax affairs are structured as efficiently as possible. 

You are always better off getting a tax expert to do your taxes. There can a general misunderstanding of tax legislation if you just get a regular accountant to do your tax returns and give you tax advice, as they are not qualified to give full tax planning advice. We can design and implement a tax strategy that a regular accountant wouldn’t even know existed, and ensure you’re minimising your tax liability, legally.  

Perhaps you’ve had your tax calculated, and want a 2nd opinion before it is submitted? We can offer you a free initial consultation to discuss.