Taxation
Taxation can be a business owner's nightmare, but we make it seem like a walk in the park. Whether it’s reducing tax liabilities, simplifying returns, or anything in between, we’re here to help with comprehensive advice.
Make Sense Of Taxation
The UK tax system is known around the world for its complexity. From deadlines to obligations and everything in between, it’s difficult to navigate for businesses of any size.
That’s why so many business owners choose the help of an expert when it comes to their taxation requirements. With an experienced hand who has specialist expertise relating to UK tax law, you can maximise your business and personal wealth, reduce your tax liabilities, and boost your profitability.
For assistance with tax allowances and reliefs and for strategies to improve your business’s bottom line, speak to one of our tax experts.
Talk about taxThat’s why so many business owners choose the help of an expert when it comes to their taxation requirements. With an experienced hand who has specialist expertise relating to UK tax law, you can maximise your business and personal wealth, reduce your tax liabilities, and boost your profitability.
For assistance with tax allowances and reliefs and for strategies to improve your business’s bottom line, speak to one of our tax experts.
What Does Our Tax Offering Cover?
Going it alone when it comes to taxation is a risky strategy for any business. At JFS Torbitt, we simplify the tax system and help you grow your business with simple terminology and straightforward advice.
For businesses of all shapes and sizes, our Chartered accountants offer the following tax advice and guidance:
For businesses of all shapes and sizes, our Chartered accountants offer the following tax advice and guidance:
Corporation Tax
And Allowances
From preparing and submitting corporation tax returns to mitigating tax on transactions or succession, we provide expert advice in line with all legislation and compliance measures. We also help structure your dividends as a limited company director and simplify your tax allowances, regardless of the size of your business.
VAT
Returns
Value Added Tax is required if your company generates more than £85,000 annually. We can calculate your VAT on a monthly, quarterly, or annual basis and simplify what is a famously complex undertaking to handle yourself.
Construction
Industry Scheme (CIS)
If you’re a contractor dealing with subcontractors and their payments, this counts towards their tax and National Insurance and must be passed on to HMRC. You must register for this scheme, but we can handle this for you, as well as the complexities of different deductions and liabilities.
Capital Allowances
And Expenses
A form of tax relief for businesses, capital allowances allow you to claim the value (or some of it) on equipment, vehicles, machinery, and more. Our experts help you maximise your capital allowances and reduce your tax bill legally.
We also provide guidance for sole traders and those working on a cash basis when it comes to allowable expenses.
We also provide guidance for sole traders and those working on a cash basis when it comes to allowable expenses.
WHAT OUR TAXATION SERVICE MEANS FOR YOUR BUSINESS
- ComplianceCompliance is crucial for the legal running of your business. Our Chartered tax specialists ensure that everything is above board from a taxation perspective so you can continue running your company successfully.
- Scale at your own speedBusiness strategy can be hindered by tax ramifications, whether it’s succession, reorganisation, or preparing an exit strategy as an owner or director. Our guidance covers you for all forms of tax structuring so your business can flourish in any situation.
- Save moneyMaking the most of business tax reliefs is a no-brainer for all companies in the UK. With totally compliant tax savings available, no matter your company size, we can advise on available opportunities and help you make claims that save you money. This money can then be used to further your business in other areas.
- Save timeTaxation takes up a lot of time, whether you’re struggling to meet tax deadlines at the end of the year or finding it difficult to keep track of your taxation on a regular basis. Our team takes away the strain and makes taxation simple and effective for your business.
Get in Touch
Our taxation service is comprehensive and leaves no stone unturned. Built around your business specifications and goals, you can become tax-efficient and more successful when you choose JFS Torbitt.
Let's talk
Business tax FAQs
What does tax deductible mean?
Deductibles, also known as expenses, are costs deduced from your turnover to reduce your taxable profit. Deductibles are different for sole traders and limited companies and there are different allowances for each, depending on what you earn and your business structure.
What’s the Corporation Tax rate?
If your business makes annual profits of £250,000 or more, you’ll pay the main rate of 25%. If your business earns £50,000 or less, you’ll pay a rate of 19%.
Businesses with profits between £50,000 and £250,000 pay the main rate, reduced by a marginal relief, which is calculated based on how much you make.
What is the accounting period for Corporation Tax?
It can’t be longer than 12 months but can be shorter, and it is generally the same as the financial year covered in your annual accounts. However, it can be less if your accounts cover less than a 12-month period, which can be the case in your first year as a company.