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Check when you should use the NCTS If you are a UK trader, you should use the
business taxation
introduction
We will help you pay the minimum tax required
As Tax Accountants, our objective is to work closely with you to ensure you pay the minimum business tax required by law. Our tax help, allows you to understand the tax implications of your actions, in order that you can plan ahead and conduct your affairs in a tax efficient way.
With our in-depth understanding of tax legislation, we can assess what tax relief schemes your business is eligible for. We can even give ideas and advice on how you can adjust your business model or processes so you can claim back more in the future.
the basics
Corporation tax liability
Tax Returns & Computations
Under Corporation Tax Self-Assessment (CTSA), the legal responsibility for calculating the corporation tax liability falls on business owners. We understand the issues you face and can prepare tax returns for you. We will also produce the supporting computations of tax liabilities.
Payment Dates & Reminders
We can advise you of corporation tax payment dates, provide timely reminders as payment falls due, and of course, be there to deal with HMRC on your company's behalf
Our aim:
Minimise Exposure
and Relieve the Admin Burden
doing more
Corporate Tax Planning
Strategic planning is important, particularly when changes to the business ownership is about to change. Our tax help includes:
- Advice on optimum group and shareholding structures.
- Reviews during the financial year in order to plan expenditure in the most tax efficient manner.
- Identifying allowances available, particularly those not always immediately thought of, such as capital allowances on the purchase of a freehold property or Research and Development expenditure tax relief.
- Keeping you advised of developments and changes in legislation - both generally and specific to your industry.
- Estimated Tax Liabilities as you go along so there's no end of year surprises
Request a
Fixed Price Quotation
Today
Only takes a few minutes!
Maximizing your returns through smart Capital Allowances solutions
Remember that tax laws and regulations are subject to change, so it’s crucial for businesses to have accountants who stay informed and can adapt their strategies accordingly.
your entitlements
Capital Allowances
When investing in plant, machinery, or other major expenditure on assets for your business, it is important to make sure you claim the correct allowances to minimise your business’s tax liability. The areas we can help with are:
We can help the business understand the criteria that make certain assets eligible for capital allowances.
We can assist in identifying the assets that qualify for capital allowances, such as machinery, equipment, and certain types of buildings.
Helping to calculate the total capital expenditure on eligible assets.
We can ensure that all allowable costs associated with the purchase, installation, and improvement of qualifying assets are included in the capital allowances calculation.
Advising on how to maximize the benefit of the Annual Investment Allowance, which provides 100% tax relief on the first portion of qualifying expenditure.
Calculating the writing down allowances for assets that do not qualify for the AIA, ensuring that the business claims the maximum relief over time.
Pooling capital expenditure appropriately, especially for assets that are subject to special rules or conditions.
Keeping abreast of changes in tax legislation and navigating the complex rules surrounding capital allowances to ensure compliance.
Providing guidance on the tax treatment of capital expenditure on leasehold improvements.
Advising on the capital allowances available for business vehicles, including navigating the special rules for cars.
Assisting with the maintenance of accurate records and documentation required to support capital allowances claims.
Regularly reviewing the business’s capital allowances position to identify opportunities for optimization and ensuring compliance with tax regulations.
checking for errors
Self-employed National Insurance
Are you satisfied that the level of National Insurance you are paying is correct? Sometimes when an individual is both employed and self-employed, there are errors in the amount of NIC being charged.
If so, we can check your liability and assist with refund claims or claims for exemptions where applicable.
a few of our
Frequently Asked Questions
I just need ad-hoc business taxation advice. Do you offer this type of service?
Yes, we do offer this type of service. However, you will need complete and sign our Engagement Letter, before we can offer you advice. The Letter establishes the framework in which our relationship with you is managed.
Is business taxation part of your standard service?
Yes, it is part of our year end accounts preparation and submission service. Other business taxation services, such as Tax Planning, are included within some of our plans but can also purchased on an ad-hoc basis, when required.Â
How do you charge for your services i.e. is it a single fee or based on what I want?
If an existing client, typically, it is more cost effective to purchase one of our Plans that incorporates the level of business taxation advice required. In which case, the cost is spread over a full year. Even with ad-hoc requests, we are quite flexible and able to accomodate most payment options.
How simple is it to transfer my business tax affairs over to you?
It is a lot simpler than you may think. Simply, inform your Tax Adviser/Accountant you want to move, and we will take care of the rest.
What level of advice do you offer i.e. is it to small, medium or large enterprises?
We have extensive expertise and a proven track record, working with small to medium sized enterprises.
Do you offer a free consultation to discuss my requirements?
Yes, your initial consultation will last a maximum of one hour. To ensure you get the most out of the meeting, we will prepare an Agenda, in advance, to give you a good idea of what we will be discussing. You will also have the opportunity to list any other subjects to discuss on the day.
What will we discuss at the initial consultation?
Your plans, requirements, how we can help and support you, plus the fees. We will also create an Agenda before the meeting, to ensure you get the most from our discussion.
What is the process if I decide to use your business taxation service?
We need to agree the level of service, fees and carry out any anti-money laundry check. We will then need you to complete and sign our standard Engagement Letter, setting out the relationship between us.
Do you offer unlimited telephone advice as part of your standard service?
Yes, we do. We want clients to feel, they can pick up the phone at anytime, to receive the best advice, without having to worry if it is going to cost them, each time.
Do you help with HMRC investigations?
HMRC investigations can be stressful at the best of times, so we are delighted to be able to offer you this service.
Client Testimonials
Eduardo Angel Tandazo
SIMPLE THE BEST We have been with SMO and Co Chartered Certified Accountants since we founded our business 12 years. ago. SMO and Co Chartered Certified Accountants are very knowledgeable and always rise to the challenge. Their knowledge with regards to the current and upcoming changes in legislation is spot on.
Ecoserve Cleaning Ltd
Robin Burnhams
Capital Gains on sale of property. Very well done. We were very impressed with Silver He provided a friendly and helpful service keeping us informed of progress at every step of the way in a complex Capital Gains account. His dealings with HMRC were very frustrating but he dealt with them with great patience until he succeeded in completing the account.
Private Individual
Lynn Nobel
Managed all aspects of the taxation of the discretionary trust from the online registrations, dealing with the fund managers and filing the tax returns (SA900) with HMRC on time. Makes life easy for me!
The Wilkie Trust
Lance Omal
Services before anything else! Provides prompt support to the business. He has impressive knowledge of overseas tax issues including Double Taxation Agreements. An experienced Chartered Tax Adviser, Silver’s tax planning skills have generated savings.
Psyko Jackson LLP
Jackie Anena
Invaluable Accounting Expertise and Service. SMO and CO Chartered Certified Accountants and Tax Advisors have been an invaluable asset to my small business. Their support has been consistently excellent, from their timely and clear communication to their organised and efficient approach.
Three Little Birds Events Ltd
Ray Abak
An impeccable service, second to none! SMO and Co Chartered Certified Accountants and Tax Advisors is such a professional, efficient and responsive company. They are honest, transparent and strictly adhere to the regulations when dealing with the client.
Acwec Ber Ltd
Rachel Okello
Highly recommended and an excellent service.
Rogols Solicitors
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contact us
it could be the best decision you make this year
Are you;
- A new Startup business looking for the best advice.
- Unhappy with your existing Accountant and looking to change.
- Looking for an advisory service to help your business grow.
- Or need someone to look after your personal tax affairs.