The UK has one of the most complex tax systems in the world for companies with an array of taxes and regulations for businesses to comply with, including;
- Corporation tax – paid on the company’s profits
- VAT – Collected and paid on the businesses sales and purchases
- National Insurance – paid by employers and employees on wages
- PAYE – Income tax and National Insurance collected by employers from wages
- CIS – Construction Industry Scheme – Impacts contractors and subcontractors
- IR35 – Impacts people working for a limited number of clients for example freelancers and consultants
How we can help
Manage the paperwork
- Registration with HMRC
- Calculation of taxes due
- Preparation of tax returns
- Filing of tax returns
- Dealing with HMRC enquiries
- CIS – Construction industry for contractors and subcontractors
Save tax legitimately
- Financing Structure – Debt vs Equity
- Remuneration Structure – Salary vs Dividends
- Capital Allowances and Capital Gains
- Incorporation: Sole Trader vs Limited Company
- Tax Losses – use past losses to reduce future taxes paid
- IR35 considerations