Passionate About Tax Savings
Phillips & Co Accountants Chester are passionate about helping local small businesses and landlords be as tax efficient as possible.
The deadline for paying Corporation Tax or informing HMRC that no tax is owed is 9 months and 1 day after the accounting period for Corporation Tax ends.
A Corporation Tax return must be filed 12 months after the accounting period for Corporation Tax ends.
Tax returns for individuals, partnerships and companies
Self-Assessment tax returns are prepared and submitted for individuals, ranging from simple returns to more complex ones. Partnership tax returns and company tax returns are completed where accounts have been completed by ourselves or externally. Completed with tax knowledge and expertise to ensure the client does not pay one penny more than what is due, under HM Revenue and Customs legislation.
Tax planning and advice, concerning Income Tax and Corporation Tax
Providing specialist tax planning and advice, specific to the client’s needs. Tax planning for corporate entities and tax advice given to individuals, we ensure tax savings are maximised via many different strategies.
Capital Gains Tax, Inheritance Tax and all other Taxes
Capital Gains Tax advice is provided in respect of property, shares and many other capital assets. Inheritance tax planning is a must because individuals work so hard for wealth. Experienced and knowledge of specific reliefs is important to maximise tax saving and we ensure that we are up-to-date with legislation changes.
VAT return preparation, submission and advice
VAT advice is essential given the varying schemes that are available such as the flat rate scheme, cash accounting and annual accounting scheme. VAT legislation is changing, for example VAT MOSS, so it is important that we are up-to-date with our knowledge. VAT returns are prepared and submitted for clients in a timely manner and the service can vary from completing the whole bookkeeping and VAT return process or it could be a check of the client’s figures and submission to HM Revenue and Customs.
P11d benefits in kind, preparation and submission
Benefits in kind include: company cars, company vans, private medical insurance and various other benefits. Advice is provided in respect of company benefits and preparation of P11d’s are completed on an annual basis.
iXBRL tagging to file the Corporation Tax return
iXBRL tagging has recently been implemented by HM Revenue and Customs to file Corporation Tax returns in an electronic format. We can ensure that the Corporation Tax Returns are filed in the correct format.
Advising on tax investigations, such as Income Tax, Corporation Tax, PAYE and VAT
Statistics show that HM Revenue and Customs are carrying out more tax investigations to both individuals and businesses across the UK. Our practice have the expertise and experience to deal with tax investigations. The type of the tax investigation could vary from a standard business records check to a complex thorough company tax investigation.
Call or WhatsApp today on 01244 220 062 to enquire about our services.