Taxation and VAT Advice

Providing high quality taxation and VAT advice is key to the services we provide our clients.

We have a simple philosophy which is to ensure that our clients pay the minimum, but correct, amount of tax they owe, on time and without difficulty. We do this by ensuring that we plan and structure their businesses in the most tax efficient manner and take advantage of all the tax reliefs and allowances available to them.

As tax agents registered with HMRC we have access to regular tax updates to ensure that you always remain compliant with the latest legislation.

We do not promote tax avoidance schemes to artificially reduce tax liabilities – if you want these services then we are not the right firm of accountants for you. We belief that everyone should pay the correct amount of tax to fund the public services we all enjoy.

As a client of Guilford Accounting we will:

  • Carry out a review of your business structure and objectives and advise you on the optimum structure from a tax viewpoint; this often entails incorporation if you are a sole trader;
  • Register with HMRC as your tax agent;
  • Assist you with negotiating time to pay agreements with HMRC;
  • Hold a pre year-end tax planning meeting with you to ensure that all available tax reliefs and allowances are claimed;
  • Prepare and file with HMRC your annual corporation tax return (if you are incorporated) or self-assessment return;
  • Advise on whether R&D tax credit claims are available;
  • Prepare and file with HMRC the self-assessment returns for the company shareholders;
  • Make sure that your accounting and bookkeeping systems are Making Tax Digital ready;
  • Assist with incorporation (if applicable) including preparing the necessary accounts, valuing your business goodwill and drafting the legal documentation;
  • If you are VAT registered:
    • review your business operations to determine whether you are on the most advantageous VAT scheme;
    • set up your accounting system to collect the required information for your quarterly VAT returns;
    • review and file your VAT returns with HMRC;
    • carry out your partial exemption calculation and annual adjustment (if applicable);
    • complete your quarterly VAT summary report.
  • Advise on any one-off tax reliefs such as pension payments, EIS investments etc.;
  • Keep you advised of any pending tax legislation that may affect your business or personal tax liabilities.