Taxonomy Accountants Ltd
Accounting and Bookkeeping Services
Daily Bookkeeping: We handle day-to-day financial transactions, including recording sales, purchases, expenses, and receipts, ensuring that your books are up-to-date and accurate.
Accounts Payable and Receivable Management: We manage payables and receivables to optimize cash flow, track outstanding invoices, and ensure timely payments, enhancing operational efficiency.
Financial Statement Preparation: We provide monthly, quarterly, and annual financial statements, including balance sheets, income statements, and cash flow statements, giving you clear insights into your financial performance.
VAT Returns: Our team manages VAT records and prepares VAT returns, ensuring compliance with HMRC requirements and on-time submissions.
Payroll Services: We offer payroll processing and payroll tax filings to ensure employee compensation is accurate and compliant with payroll regulations.
Management Reporting and Analysis: Beyond standard bookkeeping, we deliver insightful management reports, highlighting key performance indicators to aid in business decision-making and strategic planning.
Corporation Tax Advisory and Compliance Services
Comprehensive Tax Calculation and Filing: We handle the entire tax calculation process, ensuring accuracy and compliance. Our team manages the preparation and submission of annual Corporation Tax returns (CT600) and works within deadlines to avoid penalties.
Tax Planning and Strategic Advice: Our advisory services go beyond compliance, offering strategic insights into tax planning. We help identify tax-saving opportunities through capital allowances, R&D tax credits, and other reliefs to improve cash flow and reduce the overall tax burden.
Capital Allowances and Relief Optimization: We provide expert guidance on claiming capital allowances, super-deductions, and other eligible reliefs, helping clients maximize deductions for qualifying expenses and investments.
Deadline Management and Compliance Support: With strict UK filing deadlines, we proactively manage all timelines, ensuring our clients meet their obligations and avoid potential penalties or interest charges.
Company Secretarial Services in the UK
Company Formation and Registration: We handle the entire process of company incorporation, including name registration, drafting articles of association, and completing required documentation to establish your business swiftly and compliantly.
Annual Compliance and Filings: We manage all required annual filings, including Confirmation Statements and Annual Accounts, ensuring timely submission to Companies House to avoid penalties and maintain compliance.
Director and Shareholder Management: We maintain accurate records of directors, shareholders, and other key officers, as well as manage changes to directorships, share allotments, and other important details.
Statutory Record Keeping: Our team manages statutory books, including registers of members, directors, and shareholders, and ensures they are always updated and compliant with legal requirements.
Registered Office and Correspondence Management: We provide a registered office address and handle official correspondence, ensuring prompt action on important communications from regulatory bodies.
VAT Returns
Our VAT services are ideal for new businesses and those that have been running for a long time. We can help you meet your VAT liabilities, giving you back the time to focus on your business operations.
Our VAT return solution
If you're just starting out, we can help you decide whether you should be VAT registered from the outset. We will continue to monitor your situation, so that should it become necessary for you to register for VAT we can deal with the registration for you.
We will also monitor your position for when we think you are able to and would benefit from deregistering for VAT.
Why choose our VAT return service?
Our VAT return service offers you the complete package for your business:
VAT schemes: we can advise if you are eligible for any VAT schemes and establish whether you would be better off adopting one or a mixture of them. Some VAT schemes can lead to tax savings and a reduction in bookkeeping responsibilities.
VAT savings: we will ensure that your VAT claim is correct, particularly ensuring that you claim as much input VAT as you’re entitled to and only pay as much VAT as required.
VAT agent: we can act as your Agent for VAT and correspond with HM Revenue & Customs (HMRC) on your behalf and submit VAT returns for you.
Meet HMRC deadlines: our experienced team will ensure your VAT returns are filed on time and ensure you are advised of any liabilities in good time.
Peace of mind: late VAT registration, errors, late VAT returns and late VAT payments can all lead to penalties and interest. Allowing us to take care of your VAT affairs gives you peace of mind.
Competitive pricing and flexible services: We tailor our services to your business and offer fixed fees to avoid any hidden charges.
More time for you: Use the time you will save and invest it in your business to make it even more successful.
R&D Tax Credits
Research & Development (R&D) is a valuable relief for businesses investing in innovation and the development of new processes, products and services.
Is your company eligible for research and development tax relief? We want to work with you to identify any qualifying R&D expenditure and ensure you maximise your tax relief.
If your company is investing in projects to innovate and develop new processes, products and services to achieve an advance in science or technology then you may be eligible to R&D tax relief.
What are the requirements for R&D tax relief?
There has to be a project focused on the issue to be resolved
There has to be an intention to achieve an advance in science or technology
The project must relate to the company’s trade – an existing one or one it intends to start based on the results of the R&D
The company must explain how its project sought to overcome the uncertainty around the advance it wants to achieve
The issue must be one that cannot be easily overcome by a professional working in that field
The process, product or service can still be an advance if it has been developed by another company but isn’t publicly known or available. For instance, there are many companies currently working on both electric cars and driverless cars. They will each be claiming R&D tax relief
The project can research or develop a new process, product or service, or improve an existing one
Qualifying expenditure
The costs that can qualify for R&D tax incentives include:
Staff costs for employees involved in the projects
Software used in the R&D
Consumable items
Contracted out R&D costs* (65%)
Externally provided workers (subject to restriction)
Tax Planning
Our business tax planning service is designed to offer you an experienced and effective approach to managing your business’ tax liability.
In today’s dynamic financial landscape, businesses face the challenge of complying with complex tax laws and regulations. Using our comprehensive tax planning service can help ensure your business is paying the correct amount of tax and not a penny more.
Strategic business tax planning tailored for you
Business tax planning helps you to effectively manage your tax obligations and make educated business decisions.
Our experienced and professional accountants provide uniquely designed tax planning solutions to meet the needs of your business. Our experts are up to date with the latest tax changes, offering relevant tax planning advice to minimise your tax liabilities.
Our business tax planning service
Successful business tax planning can make a huge difference to your profits, tax liability and the growth of your business. Our knowledgeable advisors will We work with you and your business to find tax saving opportunities relevant to your circumstances.
What are business tax planning strategies?
Examples of business tax planning include:
Use of capital allowances: Ensuring you claim eligible capital allowances will reduce your tax liability.
R&D relief: For eligible businesses, Research and Development (R&D) relief is invaluable as it offers a high level of tax relief.
Review profit extraction: Different types of income can attract different tax rates, planning how you pay yourself is important.
Consider the most tax-efficient structure for your business: Considering the difference between business structures such as sole trader and limited company is an important discussion when it comes to tax planning.
Expenses: Maximising business expenses will reduce your taxable profits. We can help you make sure you’re including all you should be to maximise your tax savings.