Basically, year-end accounts are summary of your business; how it has been doing throughout the year, in terms of profitability and feasibility. Therefore, these accounts would also form a picture of your business for potential lenders, should you plan to apply for finance in the future. We will help your business by producing quality accounts that would give you better understanding of your current position as well as taking future steps.
Whether you are a sole trader, partner or a company director, you have to file a Self Assessment Tax Return every year to declare your personal income from all of the sources. Tax Returns can be complicated especially if you have more than one income. Let us take the burden so that you can concentrate on other areas of the business.
Completing a tax return can be stressful experience, even if there are only a few entries to make. There are various filing deadlines to meet, depending on personal circumstances and as those deadlines approach, the task can seem more and more daunting.
Tax returns are issued people with complex tax affairs, but also to individuals who receive:
There are two main types of tax return. If the Revenue thinks that you have simple tax affairs, they will issue a 'short return', which must be submitted by the 31st October, as it is only available in paper format. Only certain taxpayers are eligible to submit a short return and the Revenue expect the taxpayer to know whether or not they are eligible.
If your affairs are more complicated, or if you are a director of a limited company, you need to complete and file a full tax return. The form is more complex with a number of different supplementary sections that may need to be completed, depending on your circumstances.
At Atasan & Co we use HM Revenue & Customs approved software to:
In addition to this we can analyse your self assessment tax return to see if any tax savings can be made and we can also review the form to see if there are any anomalies that need to be addressed before the latest tax calculation is submitted. This process helps to minimise your risk of a Revenue enquiry into your tax affairs.
By giving you a fixed, competitive price and providing that you supply the relevant information within a reasonable time scale, we can take the worry away when it comes to self assessment tax returns, allowing you to concentrate on running your business.
Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business and you may get in a financial muddle if you lose track of your bookkeeping up to date. Our bookkeepers are professionally trained to be accurate, efficient, and knowledgeable about business specifics.
Starts up businesses do not have to register for VAT until their turnover reached the VAT registration threshold for a 12-month period. The threshold amount normally increased every year by the HMRC, so updated figure can be obtained from the HMRC website.
Atasan & Co will monitor your business and advise you when to register and also whether its beneficial for you to follow any VAT schemes that you are eligible. We will find out the best possible options for your VAT Returns.
Our payroll department takes care of your employees; starters, leavers as well as employees are on sick, paternity or maternity leave. We are fully compliant with the HMRC’s recent schemes such as RTI (Real Time Information) and Pensions Regulator.
Current Corporation Tax rate for company is 20%. Taxable profits for Corporation Tax include the money your company or association makes from trading profits, investments, and selling assets for more than they cost; chargeable gains.
If your company is based in the UK, it pays Corporation Tax on all its profits from the UK and abroad.
If your company isn’t based in the UK but has an office or branch here, it only pays Corporation Tax on profits from its UK activities.