Whether you are a sole trader, partnership, or limited company, you must produce annual accounts to provide information for your self assessment or corporate tax return.
At DWilkinson&Company, we can prepare your annual accounts on your behalf, ensuring that all income and expenses are accounted for and the correct amount of tax is due. This saves you time and gives you one less thing to worry about. We also file the accounts on your behalf with HMRC and Companies House, where relevant.
However, accounts are more than just a tax calculation exercise. Many business owners will need to have up to date accounts if they want to access grants and funding, sell their business, or raise a mortgage or loan. We make sure you have the latest set of accounts when needed.
We use the cloud accounting package Xero for most of our accounts production, although we can also work with other software, including QuickBooks, Sage and Dext.
No matter if you are a sole trader, a new start-up, a small business, or a large established business, we have the skills and expertise to help you manage routine and compliance-related accounting tasks.
Contact us today to arrange a Free Consultation to discuss your accounting needs.
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Our tax team makes sure that your tax liability is calculated correctly, taking into account all allowed exemptions and deductions. We simplify and streamline the process by using online accountancy software to accurately complete your income tax returns and calculate any tax liability that may be due, along with any payments that need to be made. We give you as much notice as possible on how much tax is due and when it needs to be paid. We will also notify you if any tax refunds are due from HMRC.
For individuals with an annual qualifying income over £20,000, Self Assessment is being replaced with Making Tax Digital (MTD) for Income Tax. Please visit our MTD for Income Tax page to learn how this will affect you.
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Corporation tax reliefs and rates change regularly. We keep up to speed with these changes to provide you with the correct guidance when considering possible exemptions, allowances, and deductions. We will review and prepare corporation tax returns and file them with HMRC and Companies House so that you have peace of mind that you are complying with the relevant authorities and you don't incur any penalties.
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If you are considering buying, and more importantly selling, investments, a second property, or another asset, our team can explain this difficult area of tax and advise you on the best ways to maximise your exemptions to reduce your tax bill.
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We are experts in all aspects of personal tax, including income, capital gains, and inheritance taxes. We know it can be challenging to understand these taxes, so we guide you through every step, creating a tax planning strategy tailored to your personal and financial circumstances. This can help you or your family pay the least amount of tax. Our friendly team will advise when payments are due and what forms must be filed and returned to keep you compliant.
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