Tax

Aughton Accountancy and Bookkeeping Services, a small business itself, understands how small businesses work and the help they are most likely to need with their day-to-day and longer term bookkeeping, tax and accountancy requirements.

Tax

We know how painful the whole tax regime can be for both individuals and businesses if it's not properly addressed. Rely on us to offer tailored advice on:

Self-assessment
If you worry about completing your tax returns or making sure you have enough cash in reserve to pay your tax bill - we're here to help. For many sole-traders, differentiating between work and personal financial information is a minefield. We suggest you don't bury your head in the sand but seek professional advice long before you have a problem with HMRC. We can help you by:

  • ADVISING ON THE APPROPRIATE RECORDS THAT SHOULD BE MAINTAINED (SEE BOOKKEEPING FOR MORE DETAILS)
  • CALCULATING YOUR TAX LIABILITY
  • COMPLETING AND FILING YOUR TAX RETURN
  • ADVISING YOU HOW MUCH IS DUE AND WHEN PAYMENTS SHOULD BE MADE
  • SETTING UP ONLINE FILING WITH HMRC - SOON TO BE YOUR ONLY OPTION

We suggest preparation and submission self-assessment tax returns as early as possible to avoid a last minute scramble as 31st January approaches. If your tax return is completed well in advance you will be better placed to budget for any monies that you have to pay over to HMRC. Every year thousands of taxpayers are issued penalties by HMRC for late filing; and year on year those penalties get bigger. We won't let a deadline pass without action.

Corporation tax
At the end of each financial period of trading all companies must submit a Corporation Tax Return to HMRC and depending on your results, you many have a corporation tax liability. We can prepare and submit all relevant forms to HMRC in good time and make sure you know as soon as possible how much you owe.

VAT
A complicated area, VAT can lead to many unintentional breaches of compliance. Knowing what goods and services attract VAT and at what rate is just the starting point...

Are you VAT registered? Do you file your VAT returns online? Do you need to be VAT registered? Have you considered whether joining a flat rate scheme would be beneficial? We can help you:

  • DETERMINE IF AND WHEN YOU NEED TO BECOME VAT REGISTERED;
  • HELP YOU REGISTER FOR ONLINE FILING;
  • SHOW YOU HOW TO PREPARE YOUR VAT RETURNS AND BE ON HAND TO ANSWER ANY QUERIES YOU MAY HAVE; AND
  • PREPARE AND FILE YOUR VAT RETURNS ON YOUR BEHALF
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