Whether you’re a sole trader, SME or large corporation; we know that tax and VAT returns can be incredibly time-consuming. The 2023 government update, which replaced a single corporation tax with a range of rates, has also added an additional challenge to the process. At Burfords, we can help you navigate the intricacies of your annual filing; ensuring that your tax and VAT returns are submitted accurately, and on time.
Our range of business tax services includes:
Effective tax planning from a knowledgeable and experienced team is crucial. Our team of experts are always up-to-date with the ever-changing landscape of the UK tax system and we can take an overarching view of your finances in order to minimise your tax liabilities.
We can manage your self-assessment tax returns, ensuring all income, expenses, and deductions are accurately reported. This service not only saves you time but also ensures that you meet all deadlines and avoid any potential fines.
If you’ve sold assets such as property or investments, you may be liable for Capital Gains Tax. We provide expert advice on how to manage and minimise this. Our services include calculating your capital gains, advising on allowable deductions, and preparing and submitting your tax returns.
Inheritance Tax can significantly impact the assets you leave to your beneficiaries. We can guide you through the complexities of inheritance tax laws, advising on trusts, gifts, and other strategies to minimise your tax liability.
Corporation Tax is a major consideration for all companies. We assist with all aspects of Corporation Tax, from calculating your liabilities, to preparing and submitting your returns. Our proactive approach ensures that you take advantage of all available reliefs and allowances.
We can remove the time-consuming task of liaising with HMRC and other regulatory bodies. All correspondence in relation to your tax and VAT returns can be dealt with in-house by our experienced team.
Regulations around both registering for VAT, and submitting VAT returns, are complex and ever-changing. At Burfords, our tailored VAT solutions are comprehensive, compliant and can avoid you receiving hefty penalties.
You must register for VAT if your taxable turnover exceeds the VAT threshold set by HMRC (currently £85,000) in a 12-month rolling period. Should your business fall under this threshold (or one of several other reasons occur), you also have to option to de-register. We will take the time to fully explain both of these processes to you, ensuring you understand your obligations and the potential outcomes of each action.
We take the hassle out of preparing and submitting your VAT returns. Our team ensures that your returns are accurate and submitted on time, ensuring you comply with HMRC requirements. We handle all aspects of the process, from initial preparation to final submission.
We offer thorough VAT compliance reviews to identify any potential issues before they become problems. Our experts review your VAT records and processes, ensuring everything is in order and advising on any necessary adjustments. Should you be chosen for an audit, we can also assist you by hosting inspections and providing all relevant information to the auditor.
There are several VAT schemes, and the right one for you will depend on the type of business you have. Our team will go through the options with you and recommend the best choice for your business.
Burfords have been working with businesses since 2005 and we are experts in quickly familiarising ourselves with your specific circumstances and requirements. Here’s how we can partner with you:
Before we start navigating your finances, we take the time to understand your business goals and aspirations. Whether you’re self-employed or a global corporation, our partner-led approach means we become an extension of your team.
Outsourcing can save you both time and money, sometimes up to 50% compared to utilising in-house resources (Source – AccountingWeb). By working with Burfords, you can ensure that your current workload demands are met, whilst we take care of your finances.
Beyond taxation and VAT matters, we offer a full suite of accounting and financial services; including: accounts production, bookkeeping & management accounts, company secretarial support and payroll bureau. We are able to provide a full 360-approach to ensuring the financial health of your business.
At Burfords, we are committed to delivering only the highest-quality solutions. Our team of experienced professionals brings a wealth of knowledge and expertise to every client account and we pride ourselves on our partner-led approach.
At Burfords, tax doesn’t have to be taxing. Let our team help you stay ahead of deadlines – contact us today to find out how we can help.
