If you are a partnership, limited company or sole trader and need help to manage the tax on your business profits and income tax we can help you here.
Compliance with VAT is complex. Investigations by HMRC can be intense which makes it all the more important to ensure that your VAT returns are completed correctly.
We can also assist you with…
- Applying for VAT registration;
- Advice on the VAT schemes suitable to your business;
- VAT planning;
- Dealing with any disputes that arise with Customs;
- Attendance at VAT inspections.
Are you a buy-to-let investor, property dealer or developer? If you are we can help. Property tax can be a bit of a maze and if you are starting out you may well need some advice on what you can claim for and what you cannot.
For small investors, renting out a single property, we can provide a free landlords’ spreadsheet that will give you a good start in what is allowable and what is not.
PAYE and IR35
Getting the payroll right for your business may be the most important thing you can do to keep the workforce happy. So why not outsource it to us to get it right?
The question as to whether someone is employed or self employed is not as straightforward as it might at first appear. Many people assume they are free to choose, but this is not the case.
Although there is no clear-cut answer as to how you decide if you are self-employed or not, there are checks that may be done, including online status checkers that can guide you in the right direction.
HM Revenue and Customs can select businesses as well as individuals on a random basis, without explanation, and can persue a detailed and thorough investigation of your business finances which usually extends to your personal financial affairs.
The vast majority of investigations will continue to have nothing whatsoever to do with fraud or negligence; minor year-to-year fluctuations in results may be enough to trigger a full enquiry.
Currently an average HM Revenue and Customs investigation will last around 10 months and cost some £2,000 in professional fees to complete. Costs often bear no relation to the final tax settlement.
At Oxford Tax Solutions, we have over 30-years experience in dealing with HMRC and can provide expert help and advice to help take away the stress and worry should the tax man come knocking.