HOW CAN WE HELP YOUR
BUSINESS WITH TAX?
With Abingdon Accountancy Centre Ltd, tax does not have to be taxing!
HMRC's view is a little confusing as self-assessment is a complex burden for individuals and companies alike. To avoid penalties, tax returns must be correctly completed and filed on time! At Abingdon Accountancy Centre Ltd we have the expertise and software solutions to take the headache out of all the statutory form filling and compliance aspects of your self-assessment.
For both individuals and companies, as well as completing your tax return, we can advise you of your tax position by completing all necessary tax computations, advise you on when and how much tax to pay and assist in tax planning opportunities.
Income Tax, Capital Gains Tax, Inheritance Tax, Stamp Duty and Value Added Tax Services.
PAYING YOUR TAXES
Key taxes that an individual may have to pay include income tax, capital gains tax, inheritance tax, stamp duty and value added tax (VAT).
Income tax is paid on earnings (your wages if you are employed and your profits if you are self-employed) and on pensions and savings and investments. You may have to pay Capital gains tax if you sell or give assets away. Inheritance tax is paid on your estate when you die - including some gifts made up to seven years beforehand. Stamp duty is paid when you buy properties or shares. VAT is a tax on goods and services.
Other taxes are added to the price you pay for things including fuel duty on petrol, diesel and LPG, excise duty on alcohol and tobacco and general betting duty. In addition, National Insurance contributions also have to be paid.
Corporation tax is payable on the profits, plus investment income and chargeable gains of a limited company. Companies have to work out their own tax liability and have to pay their tax without prior assessment by HMRC. They are liable to penalties if they do not deliver a return by the statutory filing date.
Contact us to see how we could assist you with all of your taxation issues.