Taxation and VAT
We deal with the routine matters of personal and business tax alongside VAT. In addition we have specialists with the knowledge and experience to ensure that you receive the very best advice. Whether it is forward tax planning for acquisitions, disposals, mergers and retirement, or conducting tax investigations and enquiries, we are able to help you.
Personal Tax
This is one of the most common of taxes with over 3.5 million self employed people in the UK today. At Gascoynes we provide a flexible service and offer support to our clients in every way required. We can deal with the online filing of individuals and partnerships self assessment income tax returns whilst continuing to plan so as to minimise the taxation liability as far as possible.
We can also help with associated issues to you personal income such as tax credits and the information required to make these claims for you.
Corporation Tax
When incorporating your business there are a lot more legislative requirements that your company needs to be aware of. At Gascoynes we are able to keep track of these for you, reminding you of upcoming deadlines and assist to file important documentation such as the company’s corporation tax return which must be filed with HMRC within 12 months of the company’s year end. From April 2011 this must be filed online together with the company’s accounts using iXRBL format. Therefore your accountant must be aware of this requirement and at Gascoynes we have already taken the necessary steps to ensure that we will meet this.
VAT
At Gascoynes we deal with many of our clients’ VAT affairs in house, usually incorporating our Bookkeeping skills to produce quarterly returns in line with updating their bookkeeping records. We are also able to provide a reviewing service of your VAT calculations before submission of the return with HMRC.
We have dealt with HMRC inspections and enquiries as well as helping clients to avoid mistakes by reviewing system controls within their businesses.
When your business exceeds the VAT threshold, which is currently £68,000, we are here to help you through the registration procedure. In the same way if your business ceases to trade or its turnover drops below the required registration limit we can assist you with de-registration forms and subsequent Vat 427 claims where appropriate.
Our wide variety of clients sign up to different VAT schemes all of which we are able to support from standard monthly and quarterly VAT returns to flat rate schemes, the second hand goods scheme and partial exemption issues.