Taxation

Personal tax returns

Our software allows us to file simple or complex personal tax returns online on your behalf direct to HMRC without using HMRC’s basic filing mechanism. This can be as a direct result of preparing your sole trader accounts, partnership accounts and partnership tax return or simply from salary, dividend income and other investment income such as interest.

You will need to prepare a tax return if any of the following situations apply to you;

  • You are self-employed as a sole trader or sub-contractor.
  • You are a partner in a partnership.
  • You are a company director.
  • You earn over £100,000.
  • You have other untaxed income such as from renting a house.
  • If any of the above situations apply to you, then either contact HMRC direct, or better still, contact an accountant to give you the best advice.

Corporate tax returns

  • As part of the service we give in respect of your company accounts preparation, we would need to produce your corporation tax return and computations for you.
  • This would be approved by you before being submitted to HMRC via online filing.
  • This has to be submitted to HMRC using specialist software that submits the return, computations and accounts in a computer language called iXBRL. This is so HMRC can easily analyse the accounts and returns and check against industry standards. This is another new tool HMRC have developed over the last few years to enable them to cut back on staff.

Corporate tax returns tax credit claims against corporation tax

  • We are specialists in assisting companies claim up to currently 230% tax relief on certain expenditure.
  • The general terms are that the expenditure must be spent on something “inventive” or “in the development of something technologically advanced.”
  • This can include material and part of your wages costs for certain employees involved with the project.