Tax Compliance
Self-Assessment Tax Returns
You may be required to submit a self-assessment tax return for a variety of reasons, including:
- Being self-employed or in a business partnership
- Acting as a company director
- Earning significant income from savings or investments
- Having untaxed savings or investment income
- Receiving rental income from owned property or land
- Earning over £50,000 and claiming Child Benefit within your household
- Having foreign income
- Having untaxed savings or Selling or gifting assets like holiday homes or sharesincome
A Complete Financial Management Solution Starting at Just £14 (Ex-VAT) per Hour
HMRC staff are not responsible for helping you organise your finances in a tax-efficient way. If you’re unsure whether you’re paying the correct amount of tax, professional advice is highly recommended.
At Taxfix Accountants, we use HMRC-recognised software to:
- Prepare and submit your tax return
- Calculate your tax liabilities
- File your return electronically
- Advise you on how much to pay and when
In addition, we review your tax return to identify any potential savings and check for inconsistencies that should be resolved before submission. This approach helps reduce the likelihood of a tax enquiry from HMRC.
If you’re facing cashflow difficulties, we can help you explore deferred payment options or negotiate a payment arrangement with HMRC on your behalf.
VAT Returns
If you’re starting a new business, we can guide you on whether VAT registration is needed from the beginning. We’ll also keep track of your situation to register you promptly when necessary, handling all the associated paperwork.
Similarly, we monitor your eligibility for VAT deregistration if it becomes beneficial.
For both new and existing businesses, we assess which VAT schemes suit your operations best. Choosing the right scheme can lead to reduced tax bills and simplified bookkeeping.
We can prepare your VAT returns based on your own records or handle your bookkeeping along with VAT preparation. Our goal is to maximise your VAT reclaims, especially on challenging items like mixed-use expenses and vehicle-related costs.
We also act as your VAT Agent, managing all correspondence with HMRC and filing your returns online.
Late registration, submission errors, or delays in filing and payments can result in penalties and interest. Letting us handle your VAT obligations helps ensure compliance and protects your business from unnecessary costs.
