Tax Accountant | Specialist Tax Consultancy Accounting Firms in Birmingham

We all have to do it, and although it may seem like a hassle at times, it is important as a society for us to pay taxes for a myriad of reasons. There are so many different types of taxes that it can often seem overwhelming, but with the right knowledge and advice, it does not have to be.

The main tax that most people have to deal with, and sometimes requires advanced tax planning for, is income tax; the tax that you must pay on your own earnings and income. The taxes that you are required to pay can include earnings from employment, any profit from self-employed earnings, pensions, any benefits you receive from your employer, the income you receive from a trust, and any rental income.

We can help offer any tax advice you may need, or help to get you on the right track when it comes to filing your own personal taxes.

In the UK, as with most countries, not only are individuals responsible for paying taxes but businesses are obligated to as well no matter their size. In order to keep your business in smooth operation, paying the correct taxes in the correct timeframe is of high importance.

For advice or help needed on your business finances, accounting and taxes, please get in touch with us today to learn more about how we can offer professional, expert accountancy support and advise. . With over a decade of experience in business accounting, we can navigate you through the complex world of business taxes no matter how big or small your business.

Tax Accountants called me shortly after I had set up a company just as I was looking for an account. They asked a few questions and my intentions and they explained about tax planning saving me the time of blindly fishing around in the dark.

Fantastic service, my highly specific needs were listened to and understood, and I was put in contact with a relevant specialist. Couldn't have asked for any better. I would recommend to anyone looking for fast and reliable service.

We are a team of fully qualified accountants and experienced tax advisers with more than a decade of experience to help support your company's requirements. We have extensive skills and knowledge across all areas of accountancy, taxation, tax planning and savings, and business finance which we will use to the best of our ability to support your company and gain the best possible outcome for you. We are the team that understands what drives you and directs your passion. Our accountants are all fully qualified and many have a range of specialisms across a variety of industry sectors.

PAYE investigations are carried out on average every 6 years although there can be a much larger gap between routine inspections without need for concern. In instances where a business has previously been a cause for concern, or evidence has been found that they are not acting in appliance with the PAYE system, these checks can be more frequent. HMRC will inform you that your business is to have a PAYE investigation and this will result in a meeting with a representative of HMRC at your business premises.

As tax accountants we provide every service including registrations, monthly and quarterly filling of VAT returns, compliance checks and investigations. VAT Intrastat system was first launched in 1993 and is used to collect information about trading with the EU. Any business that is registered for VAT and which trades in goods with an EU member state must provide details of their transactions for statistical purposes via the Intrastat system. Acquisitions, imports and purchases are known as Arrivals, and removals, exports and sales are known as Dispatches.

A contractor tax Investigation is generally triggered for two reasons; the first is a relatively routine random selection orchestrated by HMRC as a form of spot-checking. The second is where HMRC has been alerted to potentially suspicious activity within your limited company. Since most self-employed company owners must provide their own resources, instances where the company has declared a low turnover along with a low amount of expenses, yet are yielding a high dividend, alerts HMRC to potential misrepresentation of status.

We recognize that your workforce are your most precious asset. Whether you are a start up, multi-national or not-for-profit, the employment, retention and enthusiasm of skilled individuals is a critical part of any prospering business. Flexible benefits, share rewards and customized remuneration deals are just a few ways you can inspire staff. However, employers need to get a clear understanding of their tax obligations and reporting prerequisites to avoid charges. Our Employment Tax experts have significant knowledge in advising employers of all sizes to help you understand HMRC's complex guidelines.

It is a vital element of our civilization to pay employment taxes, and a portion of our income is withheld and used to pay Her Majesty's Revenue and Customs - HMRC. Taxes taken out of your wages go towards a variety of necessary endeavors such as National Insurance contributions, distributing child benefits, maintaining the education system, the NHS, infrastructure and a number of other forms of state support. Typically, employers operate PAYE, Pay As You Earn, which is HMRC's system of collecting income taxes and National Insurance directly from their payroll.

Tax accountant is a specialist tax consultancy. Our accountants have industry experience and are equipped with knowledge and skills to deal with HMRC investigations. Our network associates are former HMRC Inspectors and know the process thoroughly. You may be subject to a tax inquiry just for not filling your tax returns or a mistake or omission which resulted in a material loss of revenue. We have represented clients who have not been given sound and legal advice by other accountants. For what ever reason, if you receive a HMRC tax investigation letter, call our specialist team and we will discuss it with you and make an appointment with the relevant specialist accountant.

Trusts are all about planning and saving for the future, as well as providing a secure and legal way of transferring assets and/or income to a single person or to an entire group of people. Trust funds are very common and play a crucial part every day. In the UK, many company pension schemes are set up as a trust. If you have any interest in setting up a trust of your own, please contact one of our Professional Tax Accountants who can assist and advise you on Trust Accounting. As self employed person you will file your self assessment tax return to HMRC every year.