Personalized Tax Solutions for Individuals and Businesses
Comprehensive Tax Preparation and Planning Services
We at Fresh Accounts know how stressful it may be to get ready for tax season and file your taxes. Allow our team of expert accountants to provide you with comprehensive tax services. Our primary goal is your financial success. Our tax services will aid you with your Personal or Company Taxation or can help you understand the maze of rules and regulations that surround them.
Our Tax Services at Fresh Accounts
Personal Tax Returns
One area where we specialize is in helping clients finish and submit their individual Income Tax forms. We will use all deductions and credits that are allowed by law under this acts to lower the amount payable and to ensure full compliance. Whether you are your own boss or need assistance with your revenue streams, we can help.
Tax Advisory Services
You may make educated choices regarding your money with the help of our expert advice. With our long-term tax planning assistance, you may save more money and stay on track with your company's goals.
Corporate Tax Returns
Figuring out how to fill out a business Tax Return might be challenging. Regardless of the size or kind of your business, our staff will guarantee that everything is taken care of to comply with HMRC regulations and be beneficial with regard to taxation matters. Everyone shouldn't be concerned about the yearly due dates of their returns because we also provide reliable support services in the meantime.
Tax Planning
When it comes to estate and trust taxes, "preparation is the key" . Following this advice will ensure that, when the time comes, family members won't bicker over who gets what in the will, but rather would be grateful that everything was planned ahead of time. This will also make the transfer process go off without a hitch, since money has been set aside just for this purpose—to pay off any taxes owed, before the distribution to beneficiaries takes place.
Tax Compliance
Any violation generates heavy fines plus interest charges, therefore it is important to stay up-to-date with the knowledge required to avoid penalties accrued due to lack of expertise. Among our tax compliance services is the implementation of routine checks to guarantee that a legal entity satisfies all regulatory requirements; failure to do so may result in severe penalties, including internal and external audits, among other things.
HMRC Investigations
Our professionals act for you and handle the interaction with the HMRC in order to get the most beneficial outcome possible, regardless of whether the case involves an audit by HMRC or any tax-related issues.
Our Features
Why Choose Our Tax Services?
01
Ensure Accurate and Timely Tax Filings
02
Maximize Deductions and Credits
03
Minimize Tax Liabilities
04
Receive Expert Strategic Guidance
05
Avoid Penalties and Interest Charges
FAQs
1. What is Corporation Tax and how do I file my Corporation Tax?
Limited Companies and other organizations pay tax on their profits.
Corporation tax is paid via Company Tax Return (CT600) which is filed online with HMRC within 12 months after the end of the accounting period.
2. What is the Corporation Tax rate in the UK?
As of April 2023, the main rate of Corporation Tax is 25% on profits over £250,000.
Profits between £50,000 and £250,000 have a marginal relief available at a small profits rate of 19% applied to profits up to £50,000.
3. What is Capital Gains Tax and what are the CGT rates?
CGT is a tax on the profit made on sale (disposal) of an asset.
For the tax year 2023/24, CGT rates are 10% for basic rate taxpayers and 20% for higher rate taxpayers. For residential property, CGT rates are 18% and 28%, respectively.
4. What is personal allowance and basic rate of income tax?
For the 2023/24 tax year, the standard Personal Allowance is £12,570.
For the 2023/24 tax year, the basic tax rate is 20% on income between £12,570 and £50,270.
5. What is the requirement for filing a Self-Assessment Tax return and what is the submission deadline?
Self-employed individuals, company directors, individuals with income over £100,000 are required to file a Self-Assessment tax return by 31st January following the tax year end.
