Can you save me tax?

When you become a client we will discuss your business with you in detail and make sure you are maximising the tax relief that is available to you.

How much will your service cost me?

Our fees are based on the amount of work we do for you. When you become a client we will give you an estimate of the anticipated costs based on your requirements. If during the course of our work we discover the need to charge you more we will contact you to discuss in further detail.

What is a sole trader?

This is the simplest type of business. There are no shareholders, just the proprietors money and borrowings. A sole trader may also be known as a sole proprietor.

What is a partnership?

This is when two or more people agree to carry on a business together intending to share profits.

What is a limited liability (Ltd) company?

It is a separate legal entity, a company whose shareholders have limited their liability to the value of the shares they hold.

When will I need to charge VAT?

You will not need to charge VAT to any of your goods or services until you have reached the annual VAT threshold amount of £85,000 in a 12 month period.

What are the HMRC deadlines? - Please see the table below

6th April start of tax year.

19th April – Final Full Payment Submission (FPS) End of Year submission

19th April – Month 12 PAYE payments to reach HMRC (22nd if paying electronically)

19th May – Month 1 PAYE payments to reach HMRC (22nd if paying electronically)

31st May – Last day for issuing form P60 to employee

19th June – Month 2 PAYE payments to reach HMRC (22nd if paying electronically)

6th July – Deadline for filing P9D P11D P11D(b) also issue copies to employees

19th July – Class 1ANIC payments to reach HMRC (22nd if paying electronically)

19th July – Month 3 PAYE payments to reach HMRC (22nd if paying electronically)

19th August – Month 4 PAYE payments to reach HMRC (22nd if paying electronically)

19th September – Month 5 PAYE payments to reach HMRC (22nd if paying electronically)

19th October – Month 6 PAYE payments to reach HMRC (22nd if paying electronically)

19th November – Month 7 PAYE payments to reach HMRC (22nd if paying electronically)

19th December – Month 8 PAYE payments to reach HMRC (22nd if paying electronically)

19th January – Month 9 PAYE payments to reach HMRC (22nd if paying electronically)

19th February – Month 10 PAYE payments to reach HMRC (22nd if paying electronically)

19th March – Month 11 PAYE payments to reach HMRC (22nd if paying electronically)

1st January – Corporation tax payment for Limited Companies with a March year end

1st February – Corporation tax due for Limited Companies with an April year end

1st March – Corporation tax due for Limited Companies with a May year end

1st April – Corporation tax due for Limited Companies with a June year end

1st May – Corporation tax payment for Limited Companies with a July year end

1st June – Corporation tax due for Limited Companies with an August year end

1st July – Corporation tax payment for Limited Companies with a September year end

1st August – Corporation tax payment for Limited Companies with an October year end

1st September – Corporation tax payment for Limited Companies with a November year end

1st October – Corporation tax payment for Limited Companies with a December year end

1st November – Corporation tax payment for Limited Companies with a January year end

1st December – Corporation tax payment for Limited Companies with a February year end

 

31st January – Deadline for online submission of self assessment

31st January – Deadline for paying “balancing payments” for tax year

31st January – Deadline for paying 1st self assessment payment on account for next tax year

31st July – Deadline for 2nd self assessment payment on account

31st October – Deadline for paper self assessment returns

30th December – Deadline for online submission of self assessment for HMRC to code out tax liability if < £3000