Tax & VAT

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. It is our job to know about Corporation Tax, Personal Tax, Self Assessment, all types of VAT Tax and much more.

Corporation Tax Services

Types of VAT tax imageUnder Corporation Tax Self Assessment (CTSA), the legal responsibility for correctly calculating the corporation tax liability falls on business owners. We understand the issues facing owner-managed businesses and can prepare tax returns in a timely and efficient manner. We will also calculate your company’s tax liability and assist with the calculation of any quarterly instalment payments.

The increased reporting obligations, investigation policies on the part of the tax authorities and harsher penalties for non-compliance mean that your time and resources can be taken up with tax administration. We will help to minimise corporate tax exposure and relieve the administrative burden of compliance with current tax legislation. Effective corporate tax planning can also result in significant improvements in your bottom line.

Personal Tax (including sole-traders and partnerships)

We are specialists in income tax, capital gains tax and inheritance tax.

Self Assessment

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 positions and the planning opportunities available to you. We can complete tax returns, calculate any tax liability and advise you on exactly when to make payments and how much to pay.

Personal tax planning

Today, more and more emphasis is being put on taxpayers’ individual responsibilities and 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 team can provide you with year-round advice on all aspects of personal taxation.

Estate planning

Few of us like to think about dying, however the relevant legislation requires us to plan well in advance. This means making the necessary provisions now. There are many tax opportunities available and the earlier arrangements are made, the greater the chance of taking full advantage of our complicated tax system.

It is important when planning to transfer an estate that adequate provision is made and getting the right balance requires considerable skill and foresight – along with a detailed knowledge of the current tax regime. We provide a discreet comprehensive estate planning service that includes:

  • help with planning and reviewing a will;
  • making full use of exemptions and lower tax rates on lifetime transfers;
  • optimising lifetime transfers between family members;
  • transferring agricultural or business property;
  • transferring assets into trust; and
  • arranging adequate life assurance to cover potential inheritance tax liabilities.

We also have expertise in dealing with trusts; a relatively easy and very tax efficient way to set aside assets for future beneficiaries outside the inheritance tax net. We can advise on the most suitable type of trust to fulfil your wishes, assist in setting up the trust and provide the full range of accounting services required for trust management.

VAT

Ever changing regulations and the growing demands of HM Revenue & Customs mean VAT compliance can be a difficult administrative process. Due to our experience of all types of VAT tax, we can help to ensure that you comply with the regulations and that over-payments are not made. To help you manage this complex area, we provide an efficient, cost-effective VAT service, which includes the following types of VAT Tax:

Types of VAT Tax

  • 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 HM Revenue & Customs; and
  • negotiating with Customs and Excise in disputes and representing you at VAT tribunals if necessary.

We are a highly trusted and experienced accountancy firm in Luton that has worked with both big and small businesses assisting them with Accounting Services, Bookkeeping, Services for Small Businesses, VAT, Start-ups, Payroll and much more.

If you’re interested in a free consultation with one of our Tax experts, email info@simoncooper.co.uk or call on +44 (0) 1582 404167.

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