Taxing doesn’t have to be taxing and with the help of our tax advisors you will never have to worry about your tax concerns ever again as we will do it for you on your behalf.
Self-Assessment tax returns:
Calculating your tax return is simpler than you can imagine here with us at MDM. Accountancy. Our Self -Assessment Specialist will complete your tax return and work with HMRC on your behalf.
Tax REFUND or Tax Bill:
An Income Tax repayment is a refund of tax that you’ve overpaid. For example if you’ve paid too much tax through your job or pension this year, or in previous years you may be due a repayment from HMRC. Our helpful representatives will support you to submit a return and make a claim if one is due.
CIS 300 Returns:
If you are a contractor employing subcontractors then you will need to submit a CIS 300 return to HMRC on a monthly basis. This can time be time consuming but is a necessary obligation to HMRC that has to be fulfilled. We can support you with this matter by compiling and submitting the CIS 300 return to HMRC; freeing your time up to run your business.
If you pay tax on your annual earnings or pension through PAYE (Pay As You Earn), then your employer / pension provider will deduct your tax. However if your taxes are more complicated, for example you are self employed, are a company director or you receive a foreign income, you will need to fill in a tax return. Our friendly and experienced representatives will produce your payroll i.e. payslips and RTI returns and submit to HMRC on your behalf.
The purpose of VAT (Value Added Tax) is to generate tax revenues to the government. VAT is also added on to most products, materials or services that you are likely to use in the course of your business.
If your business has grown and you meet the VAT threshold you will need to become VAT registered and essentially you will collect VAT on behalf of HMRC. Vat Returns and any payment due are submitted every quarter or 3 months.
Calculating your VAT return can be an arduous task but we are here to help. Our representatives have years of experience dealing with VAT issues and will be able to guide you through the whole process.
Corporation Tax is levied against and worked out as a percentage of a limited companies annual profit. Corporation tax legislation is quite complex and it’s the company directors responsibility to ensure annual returns and any tax due is submitted and paid on time. In this instance it’s important and considered good business practice to engage an accountant to deal with your tax affairs. Call us now for a full and frank discussion on how we can best assist you.
Capital Gains Tax:
Capital Gains Tax is a tax on the profit when you sell something that’s increased in value. It’s the gain you make that’s taxed, not the amount of money you receive. However not everything is subject to tax. We can walk you through this complex area and our experienced advisors will deal with your queries and tax issues.
Inheritance Tax & Planning:
Quite often people do not prepare for proposed inheritance plans that will arise once a will has been drawn up and assets allocated. Many people don’t understand what could happen i.e. that assets gained may be liable for tax. At MDM we will sit down with you and discuss the best way forward and remove additional worry by planning the process together. Call today if you need support.
HMRC inquires and investigations:
On occasion HMRC monitor a number of tax returns throughout the year to check for compliance. It can be really frightening to receive a letter from HMRC where they wish to scrutinise your financial affairs. If you have received notification from HMRC and are not sure what to do next please contact us so we can work out how to help you and ease the burden. We have a number of years of experience in dealing with enquires and investigations.