Business Tax Accountants
Our specialist business tax accountants understand the complexity and scale of tax issues and form part of the team that delivers tax savings alongside quality business advice. By helping to structure your business tax-efficiently we can ensure that your overall tax liability is minimised.
Tax Compliance
As specialist business tax accountants our priority is to ensure corporate tax compliance and we can work with you to prepare tax returns efficiently and to accurately calculate your company’s tax liability.
Tax compliance and reporting places a huge demand on businesses and HMRC impose strict deadlines and ever-changing regulations to keep up to date with. With ‘Making Tax Digital’ being the latest legislative change that companies need to start working towards, our tax accountants will help you stay one step ahead of the game.
For a small business, tax accounting can be a minefield and access to highly qualified and experienced tax specialists internally may not always be possible.
By having access to our professional advice and support your team can concentrate on the running of the business in the secure knowledge that your tax compliance is taken care of. We can also act on your behalf to liaise directly with HMRC or resolve any tax disputes that may arise.
Corporate Tax Planning
Our corporate tax planning service allows you to benefit from tax planning at any stage in your development, whether it be starting up, restructuring, growing, merging or selling your business. Our specialist tax accountants can help to establish the most tax-effective structure for your business and ensure you are benefiting from any tax opportunities and reliefs you are entitled to.
When you are starting a business, we can help advise on the advantages and disadvantages of starting as a limited company, LLP partnership or sole trader. We can also advise on the best structure for your business as well as aiding with VAT returns, tax planning, IR35, PAYE RTI returns, Corporation Tax and many more areas.
If your business is experiencing growth, you may be looking to invest in buildings, plant or machinery and we can help you achieve the maximum benefit from these investments and attain the most tax-efficient solutions. We will take into consideration any capital allowances, R&D tax relief, annual investment allowances, loss relief and dividend optimisation.
HMRC Enquiry Fee Protection
As the risks of in-depth tax enquiries from HMRC continue to increase and rise in complexity, we also offer our clients a tax enquiry fee protection service.
The prospect of tax investigation can be intimidating to any business, and the costs involved can be detrimentally high.
The service covers the costs involved in defending clients in tax enquiries, protecting both you and your business and providing piece of mind.
VAT Services
VAT is a complex part of business tax accounting affecting most organisations. Our VAT services will ensure that we can quickly identify any areas of concern as well as opportunities to reduce your overall VAT liability. A large proportion of a business’ cash flow can be tied up in VAT and therefore it is important to get it right and act quickly on any opportunities that arise.
Ensuring your VAT position is accurate, we can submit your quarterly VAT returns and deal directly with HMRC on your behalf, as well as advising on any future VAT changes and how they will affect your business.
Our Business Tax Accountants assess your individual business
Working together, we assess both your business and personal tax position, helping you to understand the tax implications of your actions and enabling your business to plan-ahead effectively. Our tax advisors offer advice on corporation tax, tax planning and advisory issues to enable you to minimise tax liabilities and structure your business effectively and efficiently.
Financial Planning
Both business and personal financial affairs are often interlinked and the need to address and plan for your financial future is essential. With this in mind we have established a strategic alliance with a firm of Independent Financial Advisers who are authorised and regulated by the Financial Conduct Authority.
Personal financial and pension planning matters will be referred to them to help you preserve and enhance your wealth.
HWB is not authorised under the Financial Services and Markets Act 2000 but we are able in certain circumstances to offer a limited range of investment services to clients because we are members of the Institute of Chartered Accountants in England and Wales. We can provide these investment services if they are an incidental part of the professional services we have been engaged to provide.
iXBRL Conversion Services
HMRC requires statutory financial statements to be filed in Inline XBRL format.
Our expert team offer an iXBRL tagging service and can convert your financial statements and tax computations into iXBRL format.
CT600 Filing
What is CT600 Filing?
A CT600 is the company tax return form that needs to be filed with HMRC after the end of your accounting period. The CT600 form and other supporting documents are used to calculate the corporation tax you owe. You must file a tax return if you are registered as a limited company or if you are a foreign company with a branch or office in the UK.
What a company tax return should include and when to file it
The company tax returns should be filed at the end of a company’s financial year and need to include the following:
- The CT600 corporate tax returns form in Extensible Markup Language (XML)
- Corporate tax report in iXBRL format, so both humans and computers can read the data
- Annual accounts of the legal entity in iXBRL
- Other supporting evidence and information
At HWB, we are experts in providing complete or part accounting services to help with filling and submitting mandatory CT600 forms.
Country by Country reporting (CbCr)
CbCr is a reporting requirement aimed to enhance transparency when paying tax internationally. It applies to multinational companies with consolidated group revenue of 750 million euros or more, or if you are a group of businesses with one based in the UK and at least one in another country.
To report in the UK, you will need to follow and understand the reporting requirements of HMRC and the Economic Co-operation and Development (OECD) rules.
Country-by-country reports will need to be filed for all accounting periods starting on or after 1 January 2016
How HWB have extensive knowledge in CbCr
We have years of experience reporting on global profits and creating reports in XML format, following the OECD schema and HMRC rules. All you need to do is share your data in an excel spreadsheet, and we’ll prepare the report in XML format ready for your submission to the tax regulator.
We offer advice in these main areas of specialist tax:
For more information about our services in specialist tax accounting and financial planning, please contact us on 023 8046 1200.
We have established a strategic alliance with a firm of Independent Financial Advisors who are authorised and regulated by the FCA. Personal financial and pension planning matters will be referred to them to help you preserve and enhance your wealth.
The HWBulletin
Our HWBulletins cover a range of subjects, including some of the services that we offer and an update of the recent changes that have, or will take place.
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