Tax Services

Expert Tax Services & Accountants in Chester

Tired of overpaying your taxes? Phillips & Co Accountants are here to change that! Our expert strategies will help Chester businesses and individuals keep more of their hard-earned money where it belongs – in your pocket.

Our Chester Accountants are here to maximise your savings and minimise your stress. With deep knowledge of the latest tax regulations, we’ll create a personalised strategy that works for your unique situation in Chester.

  • Certified Tax Experts: Our Chartered Certified Accountants navigate the ever-changing tax code, uncovering every legal advantage for you in Chester.
  • Your Plan, Our Execution: We tailor tax-saving solutions to YOUR unique needs in Chester – businesses and individuals both.
  • Worry-Free Compliance: Perfect paperwork, timely filing. Avoid HMRC penalties – we keep you on the right side of Chester & UK tax law.
  • No Pricing Games: Honest, upfront fees mean zero surprises.
  • Focus on What Matters: Leave the tax headaches to us, and get back to growing your Chester business or enjoying your hard-earned money.

What You Gain:

Tired of overpaying on taxes? Accountants Chester can put more money back in your pocket! We specialise in tax savings strategies, expert cash flow management, and personalized growth planning for Chester businesses and individuals.

  • Big Savings: More money stays where it belongs – with YOU.
  • Cash Flow Boost: Manage tax obligations wisely, avoid surprises, keep your finances flowing.
  • Smart Growth Planning: Our advice optimises your tax position for the long haul, aligned with your Chester business goals.

Ready to Save? Get Started Today!

Free Consultation

Tel: +44(1244) 220-062

We’ll show you how much you could be saving.

Navigating Tax Challenges in Chester

Navigating the complexities of UK tax can be daunting for Chester residents and businesses. That’s where we come in. Our expert team provides comprehensive tax services, covering everything from VAT and Corporation Tax to Capital Gains Tax (CGT), Inheritance Tax (IHT), and Employee Benefits (P11D). We’re here to ensure you’re compliant, efficient, and maximising your financial position in Chester.

An accountant completing a self-assessment tax return

Self-Assessment Tax Returns in Chester

Ensure accurate and timely Self-Assessment with Phillips & Co in Chester. Whether you’re self-employed with income exceeding £1,000, a business partner in Chester, or earn over £100,000, we’ve got you covered.

Why File Self-Assessment?

    • Settle your tax liabilities: Ensure you pay the correct amount due on your income.
    • Maximise your benefits: Claim all eligible tax reliefs and deductions.
    • Demonstrate compliance: Show HMRC you’ve paid the right amount of tax.
    • Avoid penalties and interest: Timely filing saves you from unnecessary charges.

Our Chester Self-Assessment Services:

    • Expert guidance: Navigate the complexities with personalised advice and support.
    • Accurate filing: Ensure meticulous preparation and error-free tax returns.
    • Maximised deductions: Identify and claim all eligible expenses to optimise your tax position.
    • Transparent fees: Know what you’re paying upfront, with no hidden costs.
Capital gains spelt out on wooden blocks

Capital Gains Tax Advice in Chester

Buying and selling assets in Chester? Capital Gains Tax (CGT) might apply. Let Phillips & Co. ensure you optimise your CGT position and navigate the complexities with ease, right here in Chester.

What Is CGT?

It’s a tax levied on the profit you make when you sell certain assets like properties, shares, or valuable items.

How Can Our Chester Accountants Help

    • Precise Liability Calculation: Get a clear picture of your CGT liability, maximising your financial clarity.
    • Relief & Exemption Assistance: We help Chester accountants claim all applicable reliefs and exemptions, minimising your tax burden.
    • Compliance Guarantee: Stay compliant with the latest CGT regulations, avoiding penalties and legal issues.
    • Pitfall Prevention: Our experts guide you through nuances, including specific situations like separation or divorce impacts relevant to Chester property or assets.

Stay Informed:

    • Read our insightful tax blog article on CGT implications for separation and divorce.
3 generations of a family taking a selfie

Inheritance Tax Planning in Chester

Facing complex Inheritance Tax (IHT) matters can be overwhelming. At Phillips & Co, we offer trusted guidance and solutions to help Chester families minimise IHT burdens and ensure a smooth financial future.

What Is IHT?

It’s a tax levied on the value of your estate (assets like cash, property, investments) upon your passing. The taxable amount exceeds a threshold currently set at £325,000.

Why Choose Our Chester IHT Services?

    • Clear Understanding: We explain IHT complexities simply for Chester clients.
    • Tax Minimisation Strategies: We explore options like gifts, trusts, and lifetime planning applicable in the UK & Chester context.
    • Seamless Execution: Our experienced Chester team handles all aspects meticulously.
    • Peace of Mind: Ensure your estate is managed thoughtfully.
A tax advisor completing a vat return

VAT Services in Chester

Navigating VAT complexities? Accountants Chester take the stress out of VAT compliance for your Chester business.

Understanding VAT:

    • Value Added Tax (VAT): A tax added to the price of most goods and services in the UK.
    • Standard Rate: Currently 20%, but some categories enjoy exemptions or reduced rates (e.g., food, books, energy-saving products).

Your Responsibilities:

    • Registration: Businesses exceeding £90,000 (from 1 April 2024) taxable turnover in a 12-month period must register for VAT.
    • Charging VAT: Registered businesses must add VAT to all sales.
    • VAT Returns: Submit quarterly returns to HMRC detailing VAT collected and paid.
    • Self Serve Time: set up a Time to Pay arrangement

Don’t Worry About Penalties:

  • We ensure timely filings for Chester businesses, avoiding these penalties.
  • Our Chester VAT experts handle everything, from registration to returns.

Partner with Our Chester Team for:

    • Free Consultation: Discuss your Chester VAT needs.
    • Seamless Registration: We handle the VAT registration process for Chester businesses.
    • Accurate Returns: Meticulous approach ensures error-free VAT returns.
    • Proactive Guidance: Stay informed about VAT changes affecting Chester.
A number of tall office buildings against a blue sky

Corporation Tax Services in Chester

The UK operates a tiered system for Corporation Tax, with different rates applying based on your company’s annual profits. Here’s a breakdown:

  • Main Rate (25%): Applies to companies with profits exceeding £250,000.
  • Small Profits Rate (19%): Applies to companies with profits of £50,000 or less.
  • Marginal Relief: A gradually increasing tax rate applicable to companies with profits between £50,000 and £250,000. This helps ease the transition from the small profits rate to the main rate.

Important Notes:

  • The £50,000 and £250,000 thresholds are proportionately reduced for shorter accounting periods and by the total number of associated companies your company has.

Your Mitigation Toolkit in Chester:

    • Expert Review: We analyse expenses for your Chester company.
    • Strategic Investments: Leverage tax-efficient investments.
    • Maximised Reliefs & Allowances: Our Chester expertise ensures you claim all eligible tax benefits.

Partner with Confidence in Chester:

    • Free Consultation: 
    • Discuss your Chester company’s situation.
    • Comprehensive Analysis: We assess Corporation Tax impact for Chester businesses.
    • Proactive Planning: Stay ahead of the curve with our Chester team.

     

A business owner reviewing her personal tax records

Employee Benefits & P11D Filing in Chester

Managing P11D forms can be complex for busy Chester businesses. Phillips & Co simplifies the process, ensuring accurate reporting and compliance for employers in Chester. Employers also have the option to handle taxable benefit in kind through their payroll system instead of reporting on the P11D.

What Is a P11D Form?

It’s a document used by employers to report taxable benefits provided to employees, like company cars, medical insurance, or accommodation. Timely filing with the tax office is crucial for both employers and employees.

Benefits of P11D:

    • Clarity for Employers: Track and manage taxable employee benefits effectively.
    • Transparency for Employees: Understand the tax implications of received benefits.
    • Compliance Assurance: Stay on top of regulations and avoid penalties.

Our Chester P11D Services:

    • Data Accuracy: Meticulous collection for your Chester employees.
    • Error-Free Forms: Expert completion minimising errors.
    • Timely Filing: Ensure adherence to submission deadlines.
    • Proactive Guidance: Stay informed about P11D regulation changes relevant to Chester.

Partner With Our Chester Team For:

    • Free Consultation: Discuss your Chester business’s P11D needs.
    • Efficient Processing: We handle the entire P11D process.

Ready to Optimise Your Tax Position in Chester?

Accountants Chester: Boost Your Business with Expert Support!

Book your FREE Consultation & Tailored Accounting Solutions

Call/WhatsApp: +44(1244) 220-062