Business Can Be stressful. The Good News Is, We Can Help.
It can be easy to get lost in all the different taxes a business is required to pay, which is why we are here to explain the ones that apply to you.
All businesses must pay tax but knowing which ones you need to pay and when is very important. Missing a payment deadline with HMRC can result in a considerable fine. Here at Lyel Accountants, we are happy to help you find your way through.
• Corporation Tax
• Value Added Tax (VAT)
• National Insurance
• Income Tax
• Business Rates
For more information regarding Tax Advice, take a look Here
Company formation (company registration) is the term regarding the process of incorporation of a business in the UK.
Firstly, you will need a name for your business. This can be anything but it cannot be too similar to another companies name or trademark. For information regarding “similar names” and “too similar”, take a look at the government website regarding it here:
For more information regarding Company Formation, take a look Here
Pay As You Earn (PAYE) is a way of paying income tax and national insurance contributions and is deducted by your employer.
PAYE means Pay as you earn, which basically means all the money deducted from your wage for tax. This is how you pay both your income tax and your national insurance. You are allowed up to a certain amount before you need to pay any income tax.
We will help you calculate PAYE.
For more information regarding PAYE, take a look Here
Tax is constantly changing and keeping up with it can be exhausting which is why we offer our years of experience to sort this for you.
All Limited companies in the UK must pay corporation tax on their profits and failure to report this correctly can result in a serious fine.
For more information regarding Corporation Tax, take a look Here
Tax investigations can be very daunting for any business, not to mention time consuming. But we can take the pressure from you.
Should you become the victim of a Tax Investigation, we will work tirelessly on your case to ensure you don’t have to endure the high costs. We work with HMRC on your behalf to resolve the problem, leaving you to focus on the business.
For more information regarding Tax Investigations, take a look Here
Self Assessment is a system HMRC uses to collect Income Tax. People and businesses with other income must report it in a tax return.
Self Assessment is a system HM Revenue and Customs (HMRC) uses to collect Income Tax. Tax is usually deducted automatically from wages, pensions and savings. People and businesses with other income must report it in a tax return.
Here at Lyel accountants, we take care of your self assessment so you never have to worry about missing the deadline ever again!
For more information regarding Self Assessment, take a look Here
The word VAT can send shivers down the spine of many business owners but with LYEL Accountants, you don’t have to worry!
VAT or Value Added Tax is collected by business on behalf of the government. It is a tax on the sale of goods and services in the UK. The current rate of VAT is 20% but there are some products such as energy saving measures which have a reduced rate of 5%.
For more information regarding VAT, take a look Here
Capital Gains Tax
Capital Gains Tax is a tax on the profit when you sell something that’s increased in value. The tax is on the gain, not the full amount.
Capital Gains Tax (CGT) is a very complex and complicated field with a lot of reliefs and exemptions available so knowing which apply to you can lead to significant savings!
For more information regarding Capital Gains Tax, take a look Here
Company Secretarial Services
This service is invaluable in providing peace of mind that the company secretarial aspects of your business are being taken care of.
Company Secretary Service includes a named company secretary (visible at Companies House) and a dedicated account manager who will maintain your statutory registers, make changes to your company in accordance with your instructions, and prepare and file your annual Confirmation Statement.
For more information regarding Company Secretarial Services, take a look Here