Tax Services & Consultancy

You work hard for your money; we work hard to see that you keep it…

A bold statement but one in which our team helps to ensure is something that we all work towards on behalf of our clients…

Tax is constantly changing, updating and is very confusing.. It is very common for your Accountant to be doing calculations and working towards your best tax position and advising you on very different rules and regulations at the same time….. on most occasions the advice we give can span some three years of both legislation and filing.

This is why having a qualified, trained and up to date adviser is very important to your business.. at SW&A Accountants all our staff advising on your tax position are all of the aforementioned and more importantly trained in not only the most recent changes but those which we are looking to deal with in coming tax years. This helps us to ensure you get the right advice at the right time allowing you to concentrate on running your business…

Personal Tax and Self-Assessment

Self- Assessment can be more costly than you may think.. Fines for late submission and penalties for incorrect submissions are just the tip of the iceberg… many people are not sure what they are actually entitled to claim for or what rules they should be following.

Our clients always get the best advice in a timely, efficient manner… this helps ensure that the correct tax position is identified for sole-traders and directors in time for the deadlines imposed by HMRC.

Our team are more than happy to deal with any queries raised by clients in ‘real time’ which means you can talk to our advisors at any time during your financial year; this avoids concerns at year end and helps ensure that each person has their individual needs met in a bespoke fashion.

Everyone’s tax position is unique.. therefore our services reflect this need for our clients.

Companies & Corporation Tax

There are many rules governing ‘how’ a business determines a taxable profit, ‘how’ a business accesses income and what allowances it can use in order to maximise its tax position and ‘how and when’ it can use profits to assist in the cash-flow of the business.

Being proactive and knowledgeable in this field gives our clients increased confidence and ability to run their business.

Utilising the best, most up to date, tools and allowances issued by HMRC ensures that a business can maximise its growth and plan for the future. At SW&A Accountants we help businesses plan for their future position with as much notice as possible.

 

 

 

Planning for your Self-Assessment Submissions

You should never pay more tax than you owe.. It might sound obvious but it is surprising how many people are unsure of requirements and the law which results in the wrong amount of tax being deducted.

This can sometimes be down to ‘when’ you do something more than ‘if’… Planning for tax is not as complicated as it may seem and the best advice to get is advice BEFORE you do something rather than AFTER it’s done…

Again each case is as individual as the person or business that requires advice… our clients are free to contact us at any time to discuss their individual needs and requirements.

 

Details from HMRC regarding Businesses and Corporations


Basic Tax information - money.co.uk


Personal Tax (basic) Legislation Details

Basic Income Tax allowances 
2015-16    2016-17    2017-18

Personal Allowance 
£10,600       £11,000      £11,500
Income limit for Personal Allowance
£100,000     £100,000    £100,000
Minimum Where Income exceeds age limit
£10,600       N/a             N/a

Corporation Tax Rates

Rate                    2016         2017            2018        

Standard Rate   20%          20%             19%
Main rate is chargeable on all profits excluding those that are ring fence profits 
     

Special rate for unit trusts and open-ended investment companies

                         20%              20%              20%