Tax Services

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Outsourcing your business Tax requirements to WizzAccounting makes sense because it will save you the cost of employing your own in-house tax and accountancy staff on a permanent basis, as well as all the extra costs and legal responsibilities that come with employing permanent staff. You don’t have to be a Tax Expert – simply hand this time-consuming legal task over to us.

The deadline for filing your corporation tax return is within 12 months of the end of your company’s corporation tax accounting period. Failure to file your return on time will see your company charged with an automatic penalty, even if it does not owe any corporation tax.

We recommend that you contact WizzAccounting as early as possible so that we can examine and plan your return in plenty of time.

The deadlines for Personal Tax /Self-assessment return filing must reach HMRC by 31st October via paper copy, or an online return by 31st January. If you fail to file your return, you automatically receive a £100 fine – even if you don’t owe any tax or have paid the tax you owe. The longer you delay your submission, the more you pay.

We suggest planning well in advance so that you pay only as much as you have to and don’t incur a fine.

The main rate of UK corporation tax stands at 19% for 2017/18 tax period. The government aim to gradually reduce the rate of corporation tax year on year to at least 17% by 2020.

You should choose us because we can help you:

• identify goals and developing strategies to achieve them
• improve your business through optimum financial management
• keep your company up-to-date with government legislation
• maintain an independent view of your business operation
• plan for change and adapt to new legislation to ensure continued growth
• select the most appropriate structure for your business (if you are a start-up or a contractor)

The VAT registration threshold tends to be set each year in the budget. It is compulsory for you to register for VAT if your VAT taxable turnover is more than the threshold amount for the previous 12 months or if you expect it to reach or exceed that amount in the next 30 days.

You must also register for VAT if you take over a VAT-registered business as a going concern. As you will be able to reclaim some or all of the VAT you pay on purchases, WizzAccounting recommend registering for VAT even if your turnover is below the threshold.

You must notify HMRC within 3 months of the start of your business to avoid a £100 penalty. If you are fast approaching this deadline then contact us at WizzAccounting and we will be able to help you.

Switching to WizzAccounting is easy and straight-forward. It’s usually a case of simply writing to notify your current accountant, giving them our details and advising them that we will be contacting them shortly to collect your records. We will ensure your handover to WizzAccounting is seamless.

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