Year End Accounts and Corporation tax return for small business

Your Year End accounts form the basis of self-assessment tax return. The Year End accounts give invaluable information about business and are particularly useful when you apply for a mortgage or when you are looking for ways to raise finance. A dedicated and organized day to day book keeping services ensures that the year-end accounts services are done in a cost effective and time efficient manner. Year End accounting also ensures that an eye is kept on the various aspects which can be improved, throughout the year. Advance year-end tax planning lets you know how much tax you owe and make ways to arrange for the funds.

But submitting year end accounts is not simple about ticking a statutory compliance box. There are other matters to consider such as tax mitigation and calculation of the corporation tax liability. Generally strategies for tax mitigation at year end can include:

• Putting in place the right balance between salary and dividends.
  
• Make pension contributions direct from your company to your pension scheme.
  
• Saving surplus cash in the company.
  
• Getting the company to contribute to childcare costs.
  
• Reclaiming business expenses from the company, even if they are not allowable for tax.
  
• Claim as expenses a reasonable proportion of your home costs if your office is at home.
  

·       With the rise in the level of business everyday, there is an urgent need of a person who can manage the corporate finance, corporate tax, and improvement in the position of the business. Due to such huge demands for service, the brighton accountants are also on the higher side. The requirements for accountants have also skyrocketed in the recent past.

Sponsor Ads

• Ad Space Available - Rent it Now!

Report this Page

Created on Dec 3rd 2020 09:54. Viewed 224 times.

Share on APSense

Comments