Tax Services
Paradox Accountancy
Limited
TAX SERVICES
We all want to pay the minimum amount of tax possible. Whether it’s personal, corporate or VAT, engaging in professional tax services ensures accurate and efficient adherence to the ever-changing tax laws set by HMRC. At Paradox, we will do this for you so you can manage your finances in the most tax efficient way possible. Whether you are a sole trader, partnership or limited company, we can use our tax knowledge to ensure your business complies with the latest tax legislation and update for any changes.
Income Tax Returns
Whether you’re a director, self-employed or in a partnership, you are legally obliged to submit a yearly tax return with HMRC. There are a number of guidelines and deadlines which need to be adhered to. It is very important to know which tax code applies to your business.
At Paradox, we can help prepare your tax return ensuring that it is correct and meets all the requirements. We ensure that you pay the correct amount of tax by calculating your tax liability, submit your tax return directly to HMRC and notify you of the tax amount and the date that the payment is due.
Alternatively, if you have completed a self-assessment return on your own and are unsure if it is correct, we can review it to check everything is accurately completed prior to submission. We can also advise if there is any eligibility of tax savings.
Personal Tax Returns
It can be a challenge to keep up to date with the latest tax regulations whilst continuously operating your business. The risk of higher tax liabilities and penalties for for incorrect and late tax submissions may arise if your personal income tax is not managed efficiently.
At Paradox, we will support you in the management of your tax affairs successfully. Our services include preparation of self-assessment tax returns to help minimise tax liabilities and ensure you pay the minimum amount required by HMRC, reviewing your self-assessment tax return to ensure that it is accurately completed and prompt submission of your self-assessment tax return before the deadline.
Corporation Tax Returns
If you are a limited company based in the UK, you will be subject to corporation tax on your profits. Limited companies based outside of the UK are still required to submit and pay corporation tax where central control and management of the company is carried out in the UK. This also applies to have branches operating inside the UK. The taxable profits on all UK business activity will be taxed.
You will be required to calculate how much profit your company makes in each accounting period and the amount of corporation tax payable on those profits. A corporation tax return form will need to be completed along with account and tax computations to support your return figures. This will then need to be submitted to HMRC. It is imperative to determine your company’s annual accounting date and ensure your submission deadline is met otherwise penalties and late payment interest may incur.
At Paradox, we will use our knowledge and expertise to accurately prepare your company accounts and corporation tax returns thus ensuring that your company is compliant with all your corporation tax obligations.