Ledger provides personal tax services and is a registered and licensed agent to HM Revenue & Customs.
You may need to submit a Tax Return if any of the following apply to you:
• Self-employed either as a sole trader or a partnership
• A higher rate tax payer
• A company director
• You receive any other income not collected through PAYE – for example: letting of a property
• In receipt of capital gains or losses
• Receiving or have received untaxed income
• Receiving foreign income, even if you are not normally resident in the UK
• In receipt of any other income not listed above
If you fail to submit a personal Tax Return this could result in you paying penalties, surcharges and interest to HMRC.
Our service includes the following as standard:
- Initial planning and data compilation
- Preparation of computations
- Submission of tax returns
- Dealing with post-submission and any HM Revenue & Customs queries
Under Corporation Tax Self Assessment (CTSA), the legal responsibility for correctly calculating the corporation tax liability falls on business owners.
We understand the issues facing owner-managed businesses and can prepare accurate tax returns in a timely and efficient manner. We will also calculate your company’s tax liability and assist with the calculation of any quarterly instalment payments.
Increased reporting obligations, investigation policies and harsher penalties for non-compliance mean that your time and resources can be taken up with tax administration. On your behalf, we will liaise directly with HM Revenue & Customs and any other necessary parties to ensure that the information submitted is accurate, timely and compliant.
With our proactive approach and working closely with our clients, we can advise on how to reduce your tax liability. For example, by looking at your accounts, we would be able to calculate what elements of your expenditure may be eligible for tax relief. Effective corporate tax planning can also result in significant improvements to your bottom line.