Tax services

A tax consultant in the UK is a professional who advises individuals and businesses on tax-related matters. They can help understand which taxes apply, how to pay them, and ways to minimise the amount of tax paid legally. Some tax consultants like Golding Accountancy may specialise in compliance work, ensuring that a person or business meets their obligations to pay taxes.

Filing tax returns late, paying taxes late, or making mistakes in financial records can increase the likelihood of a tax investigation in the UK. Additionally, situations where there are discrepancies between different tax returns, such as a drastic decrease in income or an increase in expenses, or disputes regarding employment status, payroll taxes, and IR35 status, may also trigger a tax investigation.

Yes, you can typically pay your HMRC debt in instalments, known as the Time to Pay (TTP) arrangement. Here’s a breakdown of the process:

• Contact HMRC: You’ll need to contact HMRC to discuss your situation and request a TTP arrangement.
• Assess your situation: HMRC will evaluate your financial circumstances to determine a suitable repayment plan.
• Agree on a repayment schedule: Once your financial situation is assessed, you’ll work with HMRC to create a manageable repayment schedule.
• Make regular payments: You’ll be required to make regular payments according to the agreed-upon schedule.
• Important considerations:
  • Interest: You may be charged interest on the outstanding debt.
  • Late payment penalties: Failure to make timely payments may result in late payment penalties.
  • Eligibility: To be eligible for a TTP arrangement, there are specific criteria to meet.

You can visit the HMRC website or contact them directly for more detailed information. Our certified accounts can help you liaise with HMRC to pay any debt in instalments if you require assistance.

Absolutely! Launching a startup involves many challenges, and tax can be one of them. We offer comprehensive tax advisory services tailored explicitly to startups. Here’s how we can help:

• Structuring your business: We can advise on the most tax-efficient structure for your startup, considering structures like limited companies, sole proprietorships, limited liability companies, or partnerships.
• Understanding tax reliefs and allowances: We can explain the various tax reliefs and allowances available to startups, helping you minimise your tax liability from the outset.
• Self Assessment Tax Return: We help you file early to avoid penalties and look for tax-saving opportunities that make you tax-efficient.
• Startup tax planning: Our expert tax accountants can develop a tax plan to optimise your tax position throughout different stages of your startup’s growth.
• Capital Gains Tax: We can help you manage your capital gains tax on the sale of assets.
• VAT: We will help you register for VAT and ensure your business accounts systems are VAT-compliant.

Yes, Golding Accountancy excels at helping businesses claim all the tax reliefs and credits they are entitled to. Here’s how we can assist:

• Identifying applicable reliefs and credits: We can analyse your business operations and identify relevant tax relief and credits you may be eligible for. This will include planning for the future, too.
  Claiming tax relief and credits: We can assist you with claiming tax relief and credits on your tax returns, ensuring you receive the full benefit.
• Staying informed: Our accountants are up-to-date with the latest changes in tax regulations and tax relief so that they can advise you on how they impact your business.
• Ensuring eligibility and proper claim procedures: We’ll guide you through the claiming process for each relief or credit to ensure you meet all eligibility criteria and follow the correct procedures.