Tax & Payroll

Personal Tax

There are strict deadlines for registering for Self Assessment, different filing deadlines depending upon whether you file a paper tax return or online, and two key dates for paying tax. In addition to the main tax return you need to complete supplementary pages for many other types of income including:

  • Employment
  • Self-employment
  • Partnership income
  • UK property income
  • Foreign income or gains
  • Capital gains

Not only do you need to complete the return correctly, you have to self-assess. That means calculating your tax liability.

That can be difficult. Get it wrong and you will have to pay a penalty and interest. You’ll get a penalty of £100 if your tax return is up to 3 months late; you’ll have to pay more if it’s later, or if you pay your tax bill late.

Rather than spending hours figuring out which pages to complete, what to put in the boxes, how to calculate any tax due and meeting the filing deadlines, our Personal Tax Return service takes that hassle away. Don’t waste time or worry about getting things wrong, we’ll do it all for you.

Enda GribbonScullard & Co took the time to fully understand my and my business’s circumstances and plans and helped me make strategic tax planning decisions that have saved me £’000s.

Dr Enda Gribbon, Owner/Director Atelix Ltd

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Tax Planning

We want to help ensure you pay not a penny more tax than you have to. We can help you plan your tax affairs so that you don’t give the taxman any more than is necessary. We don’t believe in complex offshore tax stunts, but there are many, many perfectly legitimate ways to plan your tax affairs and reduce your tax bills.

Each year we will carry out detailed and comprehensive tax planning reviews BEFORE the tax year end to ensure that you pay not a penny more than your fair share. These will include:

  • HOW to extract profits from your business in the most tax efficient manner
  • WHEN to extract profit the business to minimise your tax bills
  • Tax reliefs that are available to you and how to utilise them
  • How to structure your business to ensure you pay less tax/li>
  • Transferring assets between husband and wife to reduce the combined tax liability
  • How to plan asset disposals to minimise Capital Gains Tax
  • Company car tax advice

Effective and proactive tax planning can save you thousands of pounds. To find out if we can help you reduce your tax bills please call or email us to arrange a free, no obligation review of your tax affairs.

Corporation Tax

Every limited company must submit an annual Corporation Tax return. This must be accompanied by the final accounts in a particular format. The Corporation Tax return is difficult to complete and there are penalties for getting it wrong or submitting it late.

However with our Corporation Tax return service you have nothing to worry about. We will prepare the return when we prepare the year end accounts.

As well as preparing the calculations and return we will:

  • Advise on which Corporation Tax reliefs are available and how to best utilise them
  • Review your remuneration strategy to make sure as much of the profit as possible ends up in your pocket
  • Assess whether you can get tax BACK from HMRC

Simon CarrollAfter an initial meeting with Chris, New Approach appointed Scullard & Co as our personal accountant. Chris has always responded to our queries and requests quickly and efficiently (as do all the team at Scullard & Co). We would recommend Scullard & Co Chartered Accountants to anyone who is looking for a professional trusted accountancy firm and demand a first class service regarding financial affairs, whether it be for business or personal.

Simon Carroll, Owner/Director New Approach Recruitment Ltd

Barrington Cooper LogoI have been using Scullard & Co for approximately 18 months now and have been extremely impressed with the service that I have received. I have used a couple of accountants in the past and never really had the service level/communication that I required. Scullard & Co took the time to understand my business and has been able to look at ways that I can reduce my costs and offer advice to help the business grow at faster pace. They are pleasure to deal with and always on the end of the ‘phone when needed. I wouldn’t hesitate in referring Scullard & Co to any of my associates.

Neil Cooper, Owner/Director Barrington Cooper Ltd

Payroll & Autoenrolment

Payroll is a task that it is important to get right. It’s important to pay your staff the right amount and on time. It is also equally important to make sure that the tax deducted is correct and that submissions and payments to HMRC are accurate and on time.

We can provide a full Payroll service whether there is a sole director or hundreds of employees. We will ensure that your payroll is operated in line with regulations and that your staff salaries and tax deductions are calculated correctly.

  • Our comprehensive payroll service includes:
  • Monthly Payslips for all directors and employees
  • Processing of monthly and year end RTI returns
  • Notification of how much to pay to HMRC each month and when to pay it
  • P45s for leavers
  • P60s for all employees at the end of the tax year
  • Dealing with benefits in kind
  • Calculating student loan deductions
  • Calculating and recovering Statutory Maternity/Paternity pay
  • Calculating sick pay
  • P11Ds for all employees at the end of the tax year

We also offer a full Auto Enrolment solution, from initial set up to ongoing monthly compliance. More details can be found at our sister site www.autoenrolmentpension.com

VAT

Preparing accurate VAT returns is extremely important. HMRC tend to scrutinise VAT more than any other tax and the penalties for getting it wrong can be substantial. VAT can also be complicated.

However we can prepare your VAT returns for you accurately and on time. We can take away the worry about preparing your VAT returns and give you peace of mind they are correct.

As well as preparing VAT returns we can help with:

  • Advising whether you need to register for VAT or not
  • Review whether you could benefit from a voluntary VAT registration
  • Ensuring you are utilising the best VAT scheme for your circumstances. There is more than one way to calculate your VAT liability so we can make sure you adopt the method that gives the lowest VAT bills

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