Accounts & Taxation

Whether it is Income Tax, Corporation Tax, Capital Gains Tax or Value Added Tax, Your Accounts² help our clients save time, stress and money.

We help prepare accounts that comply with all relevant legislation for individuals, limited companies and partnerships.  We take the time to get to know our clients so we can provide a service tailored to their unique circumstances.

You give us your sales records, purchase invoices, bank statements and any other relevant documents and we’ll give you:

  • Perfectly formatted annual returns

We’ll also:

  • File your records so they are easy to locate
  • Bind your records so they are simple to store
  • Produce a management report, giving you important information about how your business is operating, where money is being spend and where profit is being made.

Most of our clients also combine our tax services with our VAT services, giving a complete taxation support package and ongoing peace of mind.

What is the difference between tax avoidance and tax evasion?

Tax Avoidance is using tax law to legally mitigate and minimise you tax liabilities.  if you do not, you are paying too much tax.

People seem to think this is wrong, but they are confusing this with Tax Evasion.  Evasion is illegal, criminal and HMRC will through the book at you, recover all underpaid tax and try to apply the maximum penalties.  They can also go back 20 years in some cases, not just the usual 4 years.

How should I trade, Sole Trader or a Limited Company?

This depends on the current personal circumstances of the people involved, their business relationship, and expected level of success of the business venture.  If a Limited Company does not make money and has no Retained Profits, it cannot pay dividends.  In this case a Director may have to overdraw their loan account with the Company (32.5% of this balance payable to HMRC) or be paid a salary which means the Company will pay Employee and Employers National Insurance totalling 25.8%, which is very expensive.

As ever, this requires research and discussion prior to starting the business venture.  Again, this is a time for Realism.

Your Accounts² approach and our experience allow us to ensure you are paying the correct amount of tax – no more, no less – every time.   Whether you have a plastic box stuffed with paperwork or want the peace of mind that comes with our support, get in touch and we’ll get to work, together.