Whatever the size of your business, we can assist with tax planning,
start-ups and regulatory compliance.
We get to know you and your business and that understanding means we can address all the issues relevant to you. At the same time, we use our business expertise to support and advise you to improve your business performance and financial position. Whilst also ensuring all legal obligations have been met and that there will be no unexpected expenses.
Business tax planning
Tax planning is vital when running a business and can be the difference between growth and failure. Businesses operating in partnership, sole traders, UK companies and permanent establishments of foreign companies situated in the UK are all liable to pay tax in the UK on their business profits.
The responsibility of the correct calculation of business profits contained within each tax return lies solely with the taxpayer. SCS can assist in calculating and submitting figures of business profits compliant with the latest changes in legislation, making the most of deductions and allowances available to the business. In most cases we can reduce the amount of tax paid and maximise the wealth of the company and/or individuals. We can ensure that all returns are submitted in a timely fashion, appropriate format and that all deadlines are met.
Business expenditure of a capital nature is not always tax deductible but may qualify for capital allowances. There is a wide variety of capital allowances available for capital expenditure depending upon the nature of the capital asset purchased. We will maximise the amount of capital allowances claimed, and the subsequent deduction from taxable profits will reduce your tax liability. Working together with your business we will keep you up to date with tax legislation and ensure that your tax liability is minimised.
- Advice on Corporation tax payments and their timing, whether in instalments or single transactions
- Preparation of statutory financial statements, tax returns and year-end accounts for companies and limited liability partnerships
- Maximising capital allowances, relief for expenditure on intangible assets and goodwill
- Advice relating to company strategy such as directors remuneration planning and dividend policy
- Preparation, review and analysis of management accounts
- Preparation of financial forecasts including cash flow and profit projections
Our business startup service is both comprehensive and effective. The majority of those who have used this service have remained clients and gone on to run successful businesses as a result; we continue to advise and support these clients as they continue to grow.
- Recommend the most suitable structure for your business i.e. Sole Trader, Partnership, Limited Company (LTD) or Limited Liability Partnership (LLP)
- Carry out registration procedures with Companies House and HMRC on your behalf
- Advise and assist with the set up of an appropriate internal accounting system which complies with statutory requirements
- Assess any funding requirements you may have and access the most appropriate financial source
- Establish relationships with banks, solicitors, etc via our local network of contacts