February 28, 2010

Taxation

Personal Tax or Income Tax

At Rashid Accountants we can offer you:

  • Expert advice in all tax matters
  • Assistance in completing your self-assessment return and submitting it in-time online to avoid interest and penalties
  • Ensuring that any available reliefs are fully utilised so that your tax bill is restricted to the legal minimum
  • Ways of building up large sums of capital completely tax free
  • Liaising with the Inland Revenue

Business Tax & Corporation Tax

We can provide:

  • Expert advice on all tax matters, including corporation tax, capital gains tax, PAYE and national insurance
  • A sound understanding of legislation in simple English, and its effects on your business
  • Completion of all relevant forms including CT 600, end of year returns, minutes and dividend vouchers
  • Advice on tax efficient start-ups
  • Advice on share ownerships in unquoted companies
  • Advice on disposal of a business’ assets in the most tax efficient way
  • Maximising the availability of plant and machinery capital & first year allowances


Capital Gains Tac (CGT)

Understanding CGT can be important if you are looking to build up and then sell a business and use the proceeds to fund your retirement.

For many people, selling or transferring a business may make them liable to pay CGT on their gains, including gains on their share of partnership assets.

CGT can be complex and varies according to your circumstances and we will be able to give you expert advice and carefully plan to ensure that all available and relevant allowances and exemptions are applied to mitigate as much of the tax liability as possible.

This is especially important if your business holds assets that will increase in value, or you are thinking of selling your business and/or business assets, which might lead to a significant tax bill.