• Cheltenham 01242 241998
  • London 020 7118 4422

TAX RETURNS

Preparing a tax return can be complex and confusing to business owners. Individuals who complete the process without professional advice often fail to claim all the available allowances and can pay significantly more tax than they need to. All tax payers should always seek professional advice to avoid overpayments and penalties for late filing and to optimize their tax position. For the various computations we at Tax Compute employ the latest software to ensure that your tax return is filed correctly and in good time. All returns are submitted electronically and provided we receive all information from you in good time we will guarantee that the return is filed on time.

Penalties are:
1. Standard late filing fee of £100
2. Interest and surcharges charged on taxes paid late

Additionally at Tax Compute we can advise on whether it is better to set up a Limited Company or Partnership instead of continuing as a sole trader. The initial consultation for this service is free and the tax savings and benefits can be far greater than the additional costs of being a limited company or partnership. As the tax regime becomes more and more complex it is essential that business owners review their status and choose the most optimal solution.

We carry out an analytical review and quality checks before submitting your tax return. We ensure compliance and timely submission.

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TAX RETURNS

We carry out an analytical review and quality checks before submitting your tax return. We ensure compliance and timely submission.

MANAGEMENT ACCOUNTS

Management accounting is a profession that involves partnering in management decision making, devising planning and performance management systems and providing expertise in financial reporting and control to assist management in the formulation and implementation of an organization's strategy.

VAT RETURN

The VAT return shows the calculation of the amount of VAT due on sales minus the amount of VAT reclaimable on purchases. The result is the amount payable to HMRC.

BOOK KEEPING

Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business. Transactions include purchases, sales, receipts, and payments by an individual person or an organization/corporation

PAYROLL

Within a company, payroll is the combination of all of the financial records of their employees' salaries, wages, bonuses and deductions. In accounting, the term payroll signifies the amount that has been paid out to employees for the services they have done for the organization within a certain period of time

CORPORATION TAX

Corporation tax is a tax placed on the taxable profits of limited companies and other organisations such as clubs, societies, associations, and unincorporated entities.

COMPANY FORMATION & BUSINESS START-UP

You can register online with Companies House if your company is limited by shares and uses standard articles of association (known as 'model articles'). Otherwise, you must use a different method of registration. Your company will also need to register for Corporation Tax within 3 months of starting to do business

CONTRACTORS & FREELANCERS

Working outside the scope of IR35 and knowing what is claimable are the two most important issues when freelancing or contracting.