As tax advisers, our objective is to work closely with you to ensure you pay the minimum tax required by law. We will help you to understand the tax implications of your actions, in order that you can plan ahead and conduct your affairs in a tax efficient way.
CIS tax is a special tax scheme just for the construction industry. Under CIS scheme, contractors make 20% CIS tax deductions from the payment to subcontractors (for labour charges) and pay the money to HMRC. The CIS tax deductions count as advance payments towards the subcontractor's tax and National Insurance. As a result, when the subcontractor submits their tax return, you would have already paid part or full of your tax liability. The standard CIS tax deduction is 20%, so if you’re a CIS subcontractor you could well have overpaid tax.We provide following services in relation to CIS:
- Preparing and filing CIS returns for construction company
- Getting gross status from HMRC for sub-contractors
- Claiming tax refund from HMRC for overpaid CIS
With the increased risk of such investigations it may be worth considering taking out our annual insurance policy to protect you and your business from unexpected costs; an investigation will undoubtedly result in additional accountancy work being undertaken. The amount of work will depend upon the complexity of the case but the cost could be substantial.
Being the subject of a tax investigation or enquiry by HMRC can be a stressful and worrying experience. We have a wealth of experience in dealing with HMRC investigations, whether they are enquiries into an individual’s Tax Return, more detailed enquiries into a company’s affairs or employer-related investigations into PAYE and P11d compliance. If you are the subject of an investigation, we can provide expert help and support.
A P11D is a form prepared for each employee, each tax year. This is a return (declaration to HMRC) of the expenses and benefits of directors and employees.If certain systems are in place we can apply to HMRC for a dispensation for you from completing P11Ds where no tax is due. Without the dispensation, failure to complete a P11D can result in a penalty.P11Ds are straightforward so as long as the issue of benefits and expense claims has been considered throughout the year. BDRP can prepare P11Ds from the information you provide and can assist in analysing your records to ensure everything is properly reported.Please contact us if you require advice on P11Ds or advice on tax implications of any benefits-in-kind.
Ever changing regulations and the growing demands of HMRC mean VAT compliance can be a difficult administrative process. We can help to ensure that you comply with the regulations and that overpayments are not made. To help you manage this complex area, we provide an efficient, cost-effective VAT service, which includes:
- assistance with VAT registration
- advice on VAT planning and administration
- use of the most appropriate scheme
- VAT control and reconciliation
- help with completing VAT returns
- planning to minimise future problems with HMRC
- negotiating with HMRC in disputes and representing you at VAT tribunals if necessary.
Everyone who is subject to taxation needs professional advice and support if they are to optimise their tax position and ensure they meet the compliance requirements. Our specialist tax team can provide you with year-round advice on all aspects of personal taxation.
We have the expertise and software to take the headache out of the form filling and compliance aspect of Self Assessment. We can provide you with practical advice on personal tax and the planning opportunities available to you. Over recent years HMRC have increased the penalties for failing to file a return on time and for errors. We can complete tax returns, calculate any tax liability and advise you on exactly when to make payments and how much to pay.
We are specialists in income tax, capital gains tax and inheritance tax.
As per UK corporation tax laws, the legal responsibility for correctly calculating the corporation tax liability falls on business owners. We understand the issues facing businesses and can prepare tax returns in a timely and efficient manner. We will also calculate your company's tax liability and review for any tax planning opportunities. We will help to minimise corporate tax exposure and relieve the administrative burden of compliance with current tax legislation. Effective corporate tax planning will have significant effect on your cashflow and long-term success.