Tax Advisory
EXPERIENCED TAX ADVISERS PAY
FOR THEMSELVES
Here at VPC, we take the confusion out of what taxes you have to pay. Our expert advisers also know how to best gain tax efficiency.As chartered accountants, our team can advise you on personal tax, company tax, capital gains tax and VAT. We will also ensure that you are compliant with HMRC and tax deadlines. We can even take away the struggle of registering you for taxes, as we can manage all of this on your behalf.
Corporation Tax
What is it? Besides an unwelcome payment, it is simply the tax Limited Companies pay on their profits. We can take the stress away, by initially registering your company for corporation tax, and then preparing and submitting your corporation tax return. Returns are usually due 12 months after your year end, however, at VPC we are more pro-active, and like to advise you of your tax liability soon after your year end, so together we can plan accordingly.
Personal Tax and National Insurance
Do I need to pay this? If you are self-employed and received untaxed income, or if you are a director of a limited company, then you will need to file a tax return with HMRC. The tax year runs from 6th April to the following 5th April.
Personal tax returns are due 31st January, following on from the tax year end. However, we do not believe it is wise to wait that long to submit. We will look to have your tax return ready, months before the deadline, in order to help you financially plan better for the future.
Mistakes on your tax return can be costly. We can ensure that your return would be correctly completed and filed in good time. We will also advise on how and when to pay HMRC.
Capital Gains Tax
Do you own any assets? Be it shares or property, when it comes to selling, taxes will be attached to this. This is referred to as Capital Gains Tax. This tax is calculated on the increased value of your assets, rather than what you sell your assets for.
The good news is; you only pay any tax if your gains are above your tax-free threshold. For 2020/2021, the threshold is £12,300.
VAT
For businesses that generate a turnover of £85,000 or greater. If this is the case for you, then you are required to be VAT registered. There are several schemes available for you, from standard rate to flat rate. Don’t worry though, we will work with you to ensure you are on the best scheme.
Once registered, your business is required to charge VAT on its invoices. The good news is that you can also reclaim VAT on your eligible expenses.
VAT returns are filed quarterly, and must be done digitally. VPC accountants have partnered with Xero, and we can ensure that your VAT returns are Making Tax Digital compliant. There will be no more need for spreadsheets
Why Choose VPC?
We form a relationship with you: We not only learn about your business and the industry in which it operates, but we also get to know you. This enables us to gain a deeper understanding on where you would like to be, both professionally and personally, and how we can assist in getting you there.
Number crunchers: Tax compliance worries will be a thing of the past. At VPC, we take care of all your compliance and filing requirements, guaranteeing that you never miss a deadline. We will take care of all of it for you.
Support & advice: Our team of Chartered accountants and advisers will ensure that you retain as much of your income as possible. This is done by using tax efficient methods that work in your favour. All our work is performed within HMRC requirements.
Wealth of experience: Individual or SME, we promise to bring all our 20+ years’ experience to the table. Our unrivalled level of support will help you excel. To help you decide see what other people are saying, see our testimonials page.