Tax Planning Advice
Tax is a complex area, and can become more complicated if you own a business or have several sources of income, so good tax planning advice is essential as it’s imperative that not too much tax is paid. It is common that the fear of paying not enough tax means that too much tax is paid.
Wastage is most common when referring to using incorrect savings schemes, inheritance tax, Capital gains tax and incorrect retirement planning. Each of these areas is covered by BAS Associates tax planning advice and the team.
Tax law changes regularly, and with several updates each year, particularly through the Budget statements, and it can be time consuming to keep up with these changes and be on the correct side of these laws.
The upcoming changes in legislation regarding a huge change to digital tax submission, called Making Tax Digital (MTD) will force sole traders, partnerships and limited companies to submit their changes digitally. While still some time away, BAS Associates recommends preparing for these anticipated changes early on.
Our complimentary App is one way to keep ahead of these proposed changes with good tax planning advice. It has several useful modules, including a mileage tracker, several calculators and regularly updated information.
A complete will is an excellent way of protecting future generations from excessive and unnecessary tax liabilities. Our partners are available to chat with you, do a free review of your current situation and advise on the best way forward. We’ll happily work with both of you to produce efficient wealth management for the future and provide the best tax planning advice.
We will provide timely annual accounts at the end of your business year and ensure that all in-year returns are completed and submitted as required. Your monthly fee includes all statutory year end reporting including annual accounts and company tax returns, so you have total peace of mind.
Company Income Tax
If you take advantage of our monthly limited company accounts service, this is all included. We will calculate the tax due and advise when it is due for payment as well as complete and submit all the necessary paperwork to HMRC on your behalf, so you have total peace of mind.
Personal Tax Return
Ensure your personal tax return is submitted on time and not left to the last minute. Never worry about the tax deadline again and leave it to us to remember the deadline for you and take care of submitting it on your behalf.
How we help
- Ensure that your business is registered for the appropriate taxes to ensure compliance
- Save you money by ensuring you are on the most appropriate scheme
- Tax efficiency review
- Tax planning - business and personal
- Tax returns - business and personal
- Liaise with tax authorities on your behalf
Benefit to you
- Optimise your tax situation
- Keep your on-going tax bills as low as possible
- Understand tax efficient planning for the short, medium and long-term
- You are assured of meeting important deadlines
- You are compliant with tax authorities