Tax Return

[Billy]

He already has a good spreadsheet, so his book keeping is done. But this guy deffinatly needs an accountant !!

[jaime bray]

Hamdog,google self employed tax payments on account. Will explain far better than I could.

Thanks jaime

[Hodge]

What you mean pay half of Tay on account?

 

 

You pay what you owe now by the end of this month and then in July you pay half or there abouts of what you just paid on account then the following Jan you pay what's left.

[Steve Bullman]

Actually you lay what you owe at the end of the month plus half, then half again in July. So if your tax bill is £1000 then you'd pay £1500 end of jan then £500 in July

[Two Acres]

Actually you lay what you owe at the end of the month plus half, then half again in July. So if your tax bill is £1000 then you'd pay £1500 end of jan then £500 in July

 

Unless you're a limited company

[Steve Bullman]

Unless you're a limited company

 

Thats where my limited knowledge becomes even more so

[Two Acres]

Thats where my limited knowledge becomes even more so

 

You need a good accountant then Steve Seriously, I'm no expert but I do know that ther are a number of advantages. Don't quote me on the following but my understanding is that, for example, you don't need to pay National Insurance. You pay corporation tax on the profits of the company at 20 percent, then pay the shareholders (yourself, wife etc.) dividends. Tax is not normally due on the dividends up to a certain level. This structure also means thta you don't pay the 50 percent tax in advance that you do as a sole trader. Also, in the event of the company failing you wouldn't be personally liable for the debt. All good, the downside is that you'd need to pay more to your accountant to sort it all out than you otherwise would. Well worth a conversation with your accountant for most folks I would think. Get some advice from a professional who would know far more than me

[Tree Lc]

We keep our books bang up to date every week. Allocate time for it. Then it's up to our accountant to go through them and do what he is trained to do.

I wouldn't ask his to come and do some crown reduction.

If you can get a tax accountant that is good for £250 then you've done better than us! Snap his hand off as that's a great price.

 

Tree LC

Tree surgery Horsham