Tax is a key role within the Churchgates multi-disciplinary practice of accountants, tax advisers, solicitors, investment managers and financial planners who together provide a powerful and integrated service to private clients and businesses in Bury St Edmunds. Although we have expertise within various sectors, such as rural businesses, owner managed businesses, property, private clients, trusts and estate planning.
Tax investigation services
Anyone who sends in a tax return or business accounts to HMRC may be subject to a tax enquiry or inspection. Most accountant’s normal annual fees do not cover the additional professional costs of handling tax enquiries and compliance checks. You can obtain protection against these potentially high costs, simply and inexpensively by subscribing to our tax investigation service.
Our tax investigation service covers most reviews carried out by the HMRC. This includes full and aspect tax enquiries, VAT and PAYE/NIC compliance checks and business records reviews.
Additionally, this service provides advice and support on general legal issues and the complex areas of employment law and health & safety.
A professional tailored tax service in Bury St Edmunds
You may be a business owner looking to ensure you are compliant with tax regulations or you might want to mitigate your company’s tax liabilities. Perhaps you are an individual needing advice on personal tax matters or help with your tax return. UK tax laws are complex. Our experienced tax specialists can make sure you, your family and your business are compliant in all areas of personal, business and corporate tax. We will also endeavour to make sure that you and your business do not pay more tax than is necessary within the realms of achieving your personal goals. Our specialist team of tax advisers deliver pragmatic, commercial advice and communication in plain English that is easy to understand.
Providing tax accountant services in Bury St Edmunds
Our experienced and dedicated team, based in Bury St Edmunds, can assist you with a variety of tax compliance and advisory services across a full spectrum of taxes and tax-related issues, regardless of what stage in life you are at or whether you would like advice as an individual, business owner or trustee. We pride ourselves on the breadth and depth of knowledge our team has and the opportunities we are able to advise clients on at all stages of their lives. As a multi-disciplined professional practice, we work closely with our accounts, legal and financial planning teams in order to provide joined up, holistic advice tailored to meet your objectives and goals.
Experience and expertise in tax accountancy
We have a wide range of experience in our highly qualified and dedicated team based in Bury St Edmunds, assisting private clients, farms and estates, family-owned businesses, trusts and estates. We ensure that we keep up to date with changes in legislation and are proactive in attending specialist events in order to keep informed about the latest developments which affect our clients. We have specialist knowledge of land and property, rural enterprises, farms, family-owned businesses, UK residency and domicile issues and dealing with HM Revenue and Customs on a daily basis. We do not only provide compliance services but actively get involved with advisory work in order to provide a holistic service and in order to achieve both personal and business goals.
Proactive thinking about tax in Bury St Edmunds
As a forward-thinking firm, we ensure that we are familiar with the latest developments in tax compliance and advisory matters. For example, we are currently helping clients prepare for Making Tax Digital, providing support and advice. We have good relationships with professional intermediaries and land agents to provide up-to-date and useful advice. We are also part of FEIFA, (a European network of firms specialising in financial planning and tax services), have partnered with Xero (a very user-friendly accounting system) and have good links with other digitalised software providers.
Tax Service Frequently Asked Questions
Churchgates are here to help. We understand you may have questions about our tax service, here are some of our most commonly asked ones that may get you started.
Corporation tax is the tax which all Limited companies must pay, based on the profits they make in an accounting year. The current rate of corporation tax is 19%.
Corporation tax is due for payment, 9 months and a day after the end of the accounting period.
Tax and National insurance contributions need to be paid by the 22nd of the month following the payment to your employee.
All VAT registered businesses whose turnover is more than £85 thousand must keep digital records and submit their VAT returns using compatible software, a list of which can be found on the HMRC’s website. MTD will increase the efficiency of tax administration, replacing the need for self-assessment.
‘Payments on account’ are advance payments towards your tax bill (including Class 4 National Insurance if you’re self-employed).
You have to make 2 payments on account every year unless your last Self-Assessment tax bill was less than £1,000 or you’ve already paid more than 80% of all the tax you owe, for example through your tax code. Each payment is half your previous year’s tax bill. Payments are due by midnight on 31 January and 31 July.
If you still have tax to pay after you’ve made your payments on account, you must make a ‘balancing payment’ by midnight on 31 January next year.
HM Revenue and Customs (HMRC) must receive your tax return by the following deadlines – midnight on 31 October for paper tax returns and midnight on 31 January for online tax returns.
Any tax that is due to HMRC must be paid by midnight on 31 January of each year.