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Tax Services to Help You Navigate Changing Tax Regulations and Execute Practical Tax Strategies

Small and medium sized businesses are among the biggest drivers of employment and growth across sectors. At the same time, however, they make up the entities that are greatly affected by tax challenges. With tax regulations ever changing, many SMEs are finding it difficult to keep up. Without proper guidance from professionals and without relevant knowledge of tax regulations and how to lawfully reduce their tax liabilities, they are at risk of non-compliance, which can lead to heavy penalties and fines.

Our tax services are intended for SMEs and private clients seeking to stay abreast with current tax regulations and looking to receive practical solutions for managing their compliance affairs. Combining the expertise of our tax professionals with our robust tools and technologies, we can assist your business in addressing its most pressing tax issues. With that, your business can easily adapt to regulatory changes, have enhanced compliance processes, improved cash flow and avoid costly penalties and fines.

Tax Planning

In all aspects of business operation, planning is the key to achieve aims with the right level of efficiency and control and whilst using the right resources. Tax is one area of business where planning can be helpful. Given the complicated state of today’s law and regulations, it is easy to get confused and make wrong decisions, putting a business at risk of over or under payment and non-compliance. Through careful planning, these risks can be avoided and at the same time help a business preserve its assets and reduce its taxes.

Accounting Connexionsprovides tax planning services that your business can count on to get the best tax option for a smoother operation. Our tax specialists are proactive in recommending the best tax strategies based on business situation and needs. Some of the tax saving strategies that we can do for your business include development of tax governance, identification of risk issues, investment management, and minimisation of VAT leakage, among others. With that, we can assist you not only in paying the least amount of taxes allowed by law, but also in taking advantage of available tax credits, keeping your compliance in check and minimising your business’s risk to tax exposures during audit.

VAT and Tax Returns

All those running a business need to file their return and pay their taxes and VAT obligations on time to avoid having a problem with HRMC. Unfortunately, doing this on your own can be a daunting and stressful prospect, particularly if you have limited knowledge of relevant regulations pertaining to tax and VAT returns and if they are applicable to you. However, you do not have to go at it alone.

Accounting Connexionscan take care of your business’s tax and VAT returns using the best software in the market. Our tax and VAT return accountants are capable of dealing with yearly submission made to the HMRC as well as VAT calculation for different business structures and entities, including sole traders, partnerships, high net worth individuals, landlords and company executives.

Through our service, we can assist you in understanding the self-assessment rules and associated penalties for non-obligation. We can also handle corporate tax return preparation and submission, review of previous tax returns, calculation and submission of VAT returns, and VAT scheme registration recommendation, just to name a few. For all these services, we guarantee a dedicated accountant and quick turnaround time, so you will have peace of mind that your obligation is being taken cared of.

CIS Returns

Those in the business of construction have a different statutory tax scheme than other businesses. Referred to as the Construction Industry Scheme (CIS), the scheme identifies the rules for contractors and deemed contractors when it comes to settling payments with their subcontractors. These rules are mandated by the HMRC.

If you are a contractor, your business is required to deduct CIS tax from your subcontractors and file CIS returns to the HMRC. If you are a subcontractor, on the other hand, your business has the obligation to file an annual tax return. Either way, if you find that accomplishing your business’s CIS return is overwhelming, we are here to help.

Accounting Connexionshas a rounded CIS return service to help you accomplish your obligations and avoid issues with the HMRC. Our team can aid you in in preparing and managing your CIS returns, with a promise of information accuracy and timely completion. Our accountants and advisors have assisted in numerous CIS return filings before so you can be assured that we are experts in this areas and we can help in minimising the chances of your business being investigated by the HMRC.

Tax Compliance

Minimising the impact of taxation on a business always begins with compliance. However, with the ever changing laws and regulations related to tax, ensuring your business remains compliant to avoid being exposed to potential tax liabilities can be a challenging undertaking, especially if you do not have experts on your side. This is where our expertise and experience in the field can be useful.

Accounting Connexionshas a tax compliance service that helps clients keep up with their tax obligations, reduce their risk to tax liabilities, and improve their underlying processes and controls. Using this service, our specialist team will carefully assess your business’s tax situation to fully understand if it is adhering to relevant laws and regulations. We will also conduct a thorough review of its potential exposure to risks and penalties. From there, we will formulate a comprehensive solution to enhance your recordkeeping and disclosure policies and practices so your business can comply with requirements and take advantage of tax-saving opportunities.

Tax Investigation Support

The HMRC is getting stricter in ensuring that the tax obligations of business of all sizes and structures are accurate and being paid for on time. Through their compliance activities, they check up on businesses’ tax affairs to protect billions of pounds from getting lost in such malicious schemes as tax evasion, avoidance, fraud and non-compliance.

There are a number of things that can trigger a compliance check from the HMRC, including errors in accounts or tax calculations figures and significant changes in claim amounts. Being subjected for a compliance check can be an arduous and stressful process for any business. So if this issue arises in yours, you will need an expert that can manage the problem at hand and achieve the best resolution for your enterprise. This is where our team comes into picture.

Accounting Connexionscan help in resolving your compliance check concerns. We pride ourselves in having in-depth knowledge and experience in tax enquiries and dispute resolution. This enables us to work out a viable solution in an efficient, effective, and discreet manner. Rest easy knowing that our tax experts will be with you from start to finish, taking the worry and stress of a compliance check out of your shoulders.

Tapping into our diverse tax services is one of the best means to protect your business from a number of tax liabilities that may trigger an investigation. Additionally, through our services, we can assure you of:

  • Completion of compliance requirements.
  • Proper and accurate disclosure.
  • Tax efficient structure for your business and better processes and practices for recordkeeping.
  • Coordination and communication with authorities.
  • Minimised errors and liabilities connected to your business accounts.
  • Effective Solution and, when possible, avoidance of expensive penalties.

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No-Obligation Consultation

No matter what industry you operate in or what structure of business you have, our team is ready to deliver the services you need to take control of your accounting affairs and maintain your business’s productivity and efficiency. Get in touch with us today for a friendly and obligation-free consultation with one of our experts. We will figure out the best solution that can make a difference in your business.