Tax planning
Year-end tax and compliance planning
We can work with you as your accountants to ensure that your business and personal finances are in the best possible shape for whatever the future holds. This includes making plans to maximise the tax-saving opportunities available to you, particularly as the fiscal year draws to a close. We can assist you in identifying appropriate tax planning techniques to help you reduce your tax payments, boost business profitability, and maximise your personal wealth in a variety of ways.
Corporation Tax Returns
We will assist your company in preparing its company tax return and will handle your end-of-year review, which includes the completion and submission of your corporation tax-assessment return and computation to HMRC. Our skilled and knowledgeable team will create your company’s financial statements and tax return as precisely as possible. We also make sure that all of our clients are informed of any deadlines so that they are prepared to submit their paperwork before your end-of-year evaluation.
Partnership Tax Returns
Everything is taken care of for you by our partnership tax return service. By compiling your partnership accounts, preparing and submitting the partnership tax return, and providing guidance on partnership and personal tax issues when needed, we keep things simple and ensure your partnership is compliant and as tax effective as possible. We make certain that your tax return is precise, and that income sources inside the partnership are properly disclosed in accordance with HMRC’s reporting standards.
Self-Assessment Tax Returns
Our self-assessment accountants will assist you in completing your HMRC tax return and advising you on how to reduce your tax liability. We can also assist you with any questions you may have, calculate your tax responsibilities, file your tax return with HMRC, and confirm the amount due when it is due. We work with UK-based small businesses, limited corporations, and sole traders, whether they are self-employed, contractors, or freelancers. We want to be proactive in engaging and developing your business.
CIS Returns
We are experts in all elements of the Construction Industry Scheme at Thomas and Co Accountants. We can make all the difference in getting your CIS monthly returns calculated and submitted in on time and in the correct format with the appropriate assistance. We have specialised account managers who will walk you through all of your CIS returns in a seamless and efficient manner.
Research & Development (RND) tax credit claims
We’ve been trained to give you guidance about RD Tax Credits, which can help you increase your company’s innovation. We can help you recognise the potential R&D credits that are available. This programme is open to businesses of all sizes. We can assist you in determining whether or not your organisation is eligible for R&D tax credits. R&D claims will either cut profit, cause a loss, or exacerbate an existing loss. Reducing the gain lowers the taxable income, while increasing the loss increases the reliefs.
Bookkeeping and Management Accounts
Accounts of a Limited Company
To ensure that your business runs effectively, we provide the essential spectrum of core accounting services as well as any ad-hoc requirements. Our core bookkeeping service guarantees that your VAT records are kept up to date, allowing us to prepare and submit your VAT returns accurately and on schedule, fulfilling your HM Revenue & Customs obligations. We provide assistance and advise on the most appropriate technique of maintaining your accounting records as part of our management accounts solution.
Partnership Accounts
Our partnership accounting services can relieve you of the burden of compliance, allowing you to concentrate on your business. We can relieve your burden by preparing your partnership and individual tax returns, ensuring that you are fully compliant and only paying the taxes that are due. Maintaining correct bookkeeping records also aids in the tracking of earnings and losses, cash flow planning, and the making of more efficient and informed corporate decisions.
Sole Trader Accounts
We can assist you whether you are currently a sole trader or are considering launching a firm. We can provide you with a simple accountancy solution that includes the preparation of your sole trader accounts as well as your self-assessment tax return. You can skip hours of catching up on work with our automated bookkeeping service. Our accountants will handle this important aspect of your business, freeing up your time so you can focus on the things that really matter.
Payroll Bookkeeping
Payroll can be time-consuming and difficult to manage. Payroll accuracy is crucial, and nothing bothers employees more than a mistake or a delay in the issuance of pay slips. We ease the stress by providing cost-effective payroll preparation solutions that ensure you meet all regulatory requirements. We take care of every facet of a company’s payroll, offering the most comprehensive service available.
Cashflow Forecasting
We’ll help you maintain your company’s cash flow healthy by forecasting the effects of seasonal changes and actions into the future. With our customised cashflow prediction, we can show you how much money you’ll make based on the projects you invest in. We can help you plan ahead to guarantee your firm is headed in the correct path by preparing monthly predictions of Cash Flow, Profit & Loss, and Balance Sheet situations in a style that lenders would approve.
Budgeting
Budgeting is an important duty that you should never overlook. We’ll look at what a budget is, why it’s important, and how you may customise one for your specific company strategy. We can assist you in optimising your company’s budget while also planning for potential future expenses. There are many different sorts of budgets, and we can assist you in creating one that meets your goals and expectations.
