Most forms of taxation are now subject to self-assessment –

Income Tax

We can calculate the correct tax liability, for the self-employed, those in partnership and personal tax clients – it is important to check that everyone pays the correct amount of tax and claims all allowances which are legitimately available.

It is also important to check that income is received in the most tax efficient manner, with regard to National Insurance as well as income tax. Options including dividend receipts and special tax strategies can be considered.

Capital Gains Tax

Disposal (either by Sale or Gift) of an asset can be subject to Capital Gains Tax and may need to be reported to HMRC via self-assessment. Each individual has an annual exempt amount for CGT purposes, it is important that all chargeable disposals are reported to HMRC and equally important that the relevant allowances are claimed.

If you are thinking of disposing of any asset which may be subject to Capital Gains Tax; contact us first – we can advise on available allowances and timing of disposals to minimise or in many cases alleviate any Capital Gains Tax Liability.

Corporation Tax

All trading companies have to submit their annual accounts to HMRC along with a completed form CT600 form (Corporation Tax Self-Assessment) in a timely and accurate manner.

There are specific requirements for the format of the accounts and strict penalties imposed if they are not filed on time with HMRC.

We ensure that company accounts are completed accurately and on time, then calculate the Corporation Tax Liability and submit a tax return and detailed accounts electronically to HMRC. Our latest software allows Abbreviated Company Accounts to be filed with Companies House simultaneously.

Contact us if you need help with any of the above tax returns, or for further advice regarding tax matters. We can take care of annual tax returns, correspondence with HMRC including Tax Enquiries.

Roseworth Accountancy is registered for on-line filing of tax self-assessments.