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Tax & Corporation Tax

Keeping on top of tax affairs is vital for all businesses. There are requirements to file tax returns at certain times of the year, and if you miss deadlines you can end up having to pay fines as a result. Ipswich-based Orwell Accountants provides tax services, including working out your corporation tax liability and making returns.

By having an expert tax adviser, you can ensure that you never miss a deadline to file your tax return or pay bills. You will also have someone who can explain to you anything which is puzzling you about taxes and ensure you don’t pay more than necessary.

Orwell can carry out your tax accounting and help you with various different types of tax-related issue, including:

  • Corporation Tax

    Limited companies are required by law register to pay Corporation Tax on their profits. If your profits are under £1.5 million, it has to be paid by 9 months and a day after the end of the accounting period, which is usually the same as the financial year. Companies with higher profits need to pay in instalments. Companies are legally responsible for CTSA (corporation tax self-assessment), but a business tax accountant can carry out the computations and file the returns for you.

  • Self-Employed and Sole Trader Tax

    Self-employed people and sole traders need to fill in self-assessment tax returns annually, ensuring they are filed by the correct deadline. They also have to pay both income tax and national insurance and usually have to make payments on account. We can draw up your returns and calculate the correct payments.

  • Partnerships and Limited Liability Partnerships

    Members of business partnerships have to register as self-employed and file returns every year. We can ensure that HMRC receives registration of the partnership and supply a partnership return every year, as well as filing VAT returns if your turnover is high enough.

  • Company Cars and Other Benefits

    As well as company vehicles, you might offer many other types of benefits to your employees. These could include private health schemes and “salary sacrifice” schemes such as childcare vouchers. Rules over taxation of these various benefits can be confusing, but we can explain to you how to declare them correctly and fill in the correct forms at the end of the year.

  • Tax Planning

    As well as paying tax when it is due, it’s important to look ahead at your tax liabilities and to plan to meet them. This not only means making sure you set enough money aside, but also checking whether you are paying the right amount of tax and whether you are operating your business in a tax-efficient way. We can help with tax planning for both partnerships and limited companies, and also for individuals.

Tax rules and allowances frequently change and filling in forms and filing can be very time-consuming. It can also be difficult to find the right information if you have a query. So it is very helpful to have someone close at hand in Ipswich who can guide you through all this. Tax services from Orwell Accountants can take the worry out of dealing with tax affairs and ensure you are paying the right amount.

Location
Orwell Accountants Ltd
1 The Mews, Penfold Road,
Felixstowe,
Suffolk
IP11 7BP

Tel: 01394 282318 Tel: 01473 657000 Co Number 09354845

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All accounts are prepared and filed by a qualified accountant. We are licensed and regulated by AAT under licence number 1000396. AAT is recognised by HM Treasury to supervise compliance with the Money Laundering Regulations and Orwell Accountants Ltd is supervised by AAT in this respect.

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