How a Tax Consultant Can Help Your Small Business

Business tax season is a year round responsibility for business owners. Now is a good time to find a tax consultant in Essex UK and start planning your business taxes for the upcoming tax season. 

We are discusses the types of tax professionals and how these people can help with your business taxes. A tax professional is someone who has the experience and credentials to help you with taxes.

Why You Need a Tax Professional: You don't have a tax professional you trust to help you with your business taxes. It's nevertoo late to start looking. Having a good tax advisor can help for saving money at tax time

What is a Tax Professional: A tax advisor is a financial expert with training in tax laws. A tax professional should be up to date on current tax regulations, which change every year.

What Does  a Tax Professional Do: A tax professionals can help you with your business taxes - before, during, and after tax preparation:

Before Tax Preparation: A professional tax advisor can give you advice on tax planning, but tax planning isn't done just before the end of the year.You should be talking to your tax pro at strategic points during the year every quarter.

During Tax Preparation: Your tax professional most probably will also be your tax preparer, doing the work of preparing your business tax return and your personal tax return. If you pay business taxes through your personal tax return, the same person should be doing both returns so you can coordinate tax savings.

After Tax Preparation: When your tax return is filed, there may still be work for your tax professional to do if you get audited. It makes sense to have your tax preparer be the person you turn to for help if you get a letter from the IRS saying you are being audited.

Thompson Accounting Services is located in Essex UK and offers tax services.we are tested and licensed by the UK Treasury to represent taxpayers in all types of tax negotiation. What We Do

1.       Complete tax accounting for individuals, businesses and estates.

2.       File all types of tax returns

3.       Negotiate for you to resolve any tax issue

4.       Plan your personal and business growth

Know How to Get CIS Tax Refunds Services in Essex

If you are in an organization that spends a lot in the construction materials, you are undoubtedly eligible for tax refunds and even tax return that falls under the Construction Industry Scheme set by the HM Revenue & Customs in Essex. The scheme is usually called as CIS in which rules for contractors as well as subcontractors in the construction industry and eligibility for CIStax refunds are set.

A few pointers to get CIS Tax Refunds Services:

Determining Eligibility: For the eligibility of CIS tax return, you first need to find out if the work done has been covered by the scheme or not. The following individuals would be included among the eligible ones:

a) Individuals who are self-employed

b) Organizations with partnerships and limited liability partnerships

c) Labour agencies

d) Organizations that spend over £1 million/year for construction over a period of 3 years

e) Property developers

Inclusion: Eligible work for a CIS tax return include

a) Permanent as well as temporary building or even structure

b) Installations

c) Services comprising general construction

d) Jobs that are not included in the construction work but are part of it, especially when it is done for constructing new property.

Exclusion: Things that are not included under the CIS scheme are

a) businesses with a budget of more than £1 million per year for any construction work

 b) doing construction work in one’s own property

 c) making investments in property

d) businesses that are meant for commercial purposes

So, these are some of the highlights of CIS tax refunds services. However, if you are in Essex, you do not need to think about finding the right CIS tax refunds services. All you need to do is to make your research stronger and get in touch with the right firm or organization offering the same services.

How do Self Employed Tax Consultants Help?

Paying tax is one of the most important responsibilities that every citizen across the globe performs. However, for many people it becomes a cumbersome task as even the little changes in the taxpaying method becomes a matter of concern for them. Moreover, many people are so busy that they hardly get the time to get in touch with consultants of the big firms.

Now you must be wondering what you would do in such a situation. Well, the simplest thing that you can opt for is that of is self-employedtax consultants. However, before you proceed further, you need to enlighten yourself with the concept of self-employed tax consultants.

A self-employed tax consultant is a professional who is not associated with any particular firm but works on his/her own. They have all the degrees and certificates that tax consultants employed with big firms have, but they choose more like a freelancing option.

The benefits that one can count on such consultants are numerous. One of the first benefits is that you do not have to take appointment a month ago to get in touch with self-employed tax consultants. Instead, you can simply give them a call and talk about what you are looking for. Secondly, they do not charge a huge amount of fees for the work they do for you. Thirdly, they are usually available for future correspondence as well.

So if you think that dropping a line to self-employed tax consultants can turn out to be beneficial for you, do not think twice.

Things to Pay Heed to for a Start-up Business

A start-upbusiness is perhaps one of the most common things that we come across these days. With the advent of the web, many things have changed and become easier. Setting up a business is also one of those things that have become easier and also the new entrepreneurs can easily grow their reach to their target audience. 

However, something that we miss out while setting a start-up business is that of managing taxes and accounts. In such a situation, something that can be of great help is that of a tax consultant. You might do not think about it much but it is true that a tax advisor play a vital role in any business. 

It is always not possible for an owner to keep an eye on all accounts that are related to taxes and it is also not obvious that ever owner will have a depth of knowledge about taxes. In such a scenario, nobody else can come as a help other than a tax consultant. The best thing about taking services of such an advisor is that you will hardly need to think about the taxes and the related problems that may come up someday. All that you need to focus on is on the other aspects of your business. 

If you are in a place like Essex, you might think that finding out the right tax consultant can turn out to be a cumbersome task for you. But something that will surprise you is that there are many organizations in Essex that will help you with tax consultants. In fact, you will get some of the best advisors in the town who will help your business to grow to a zenith. So what are you waiting for? Simply start your search for the require advisor for your start-up business.