Businesses can have significant financial costs if business information is handled incorrectly. Tax Investigations and Tax enquirers by HMRC are increasingly becoming very common. At such a point seeking experts’ advice based on technical knowledge can often make a substantial difference to the eventual tax penalties, liabilities, and charges. Our experts can help you come up with the best strategy to approach.
Bookkeeping & Accountancy Services
Bookkeeping is an important task to record business activities. Failure could result in Fine and disqualification as company director. True and Fair accounting records should be kept at least for 6 years. Our years of experience in bookkeeping will save your time and money.
Our years of experience in producing business up-to-day information for clients helped them make the right decisions. Businesses compare actual performance with budgeted or comparative periods. These management accounts can be monthly or quarterly. More importantly, supplying management information to lenders helps businesses with high cash inflow.
Capital Gain Tax
Our team of tax consultants is here to help you in assessing your potential Captial Gains Tax liabilities. There are beneficial rates and reliefs to be taken advantage of and our tax specialists are best placed to help you do this. Our expertise is not only to help you minimize these costs but also to provide support in tax preparation.
Property Income Tax
Aahil & Co does not limit itself only filing out and submitting your tax returns but also making sure our advice on your properties benefits you much more. This include special tax reliefs available to landlords on Rent a room tax relief, rental income and capital gains taxes, Buy to let properties, buying commercial and non commercial properties and much more.
Our experienced staff can advise you to choose the correct structure for your not for profit organization that suits your needs, this could be a charitable incorporated organization (CIO), a Community interest company (CIC), a charitable company (limited by guarantee), or a trust and we also can help you in a process to set up not for profit organization. We provide ongoing support for accounts preparation, filing of annual reports and annual returns with charity commission, and independent examination of the accounts if required.
IHT affects many of us where we do not regard ourselves as particularly wealthy. We can help you by giving informed inheritance tax advice. Well IHT planning helps you avoid paying unnecessary taxes. At this point long term planning is unavoidable as to avail several reliefs and exemptions such lifetime gifts, transfer of assets to trusts, businesses and assignment of life policies and much more. Our expertise can help you in grafting strategies to reduce an eventual IHT bills.
VAT seems simple but is perhaps the most complicated tax. Transaction nature reflects a change in VAT rules such as partial exemption calculations to reverse charge rules and transactions within the UK to cross-border trading. Our professional VAT advice will always bring greater value to your financial values by sighting different applicable VAT low rates to your business and lower your business cost.
Stress for contractors in existing arrangements has become stand-up to attach from notorious IR35 legislation. Feel free to contact us for detailed discussion and up-to-date information. These are often matters of general employment law and not specific tax legislation. In this area, an enormous amount of different Case Law exists and Taxman does not have the final say that you caught by IR35. Their sayings can be argued. We can review your arrangements and advise you whether you come under the perimeter of IR35 or not.
We have years of experience in the construction industry which requires a lot of HMRC compliance if things get wrong, can cause unwanted penalties. We can help you to be compliant. Our services include:
- Register you with HMRC as a contractor
- Verify your subcontractors with HMRC
- Ensure you pay your subcontractors correctly within the scheme
- Supply deduction statements to the subcontractors
- Keep your records in good order and supply HMRC with monthly returns
- Keeping you up to date with current tax legislation and thresholds
Running payroll involves a lot of HMRC compliance which cause extra work pressure and cost to small businesses as a result they can’t focus on their business. We are here to help businesses by taking all their payroll compliance responsibilities at very competitive fee. Our services include
- Auto Enrolment
- Real Time Information (RTI)
- Completion of statutory forms, including year end returns, to issue to your employees and submit to HM Revenue and Customs
- Administration of pension schemes
- Administration of PAYE, national insurance, statutory sick pay, statutory maternity pay, etc
- Administration of incentive schemes, bonuses, and ex-gratia and termination payments
- Customized pay slips