At Balancing Act Financial Services Ltd, we provide comprehensive services tailored to meet the intricacies of UK tax legislation, empowering businesses and individuals alike to navigate the complexities of tax compliance and planning. We specialize in providing comprehensive services related to UK Company Tax requirements and computations, as well as VAT (Value Added Tax) compliance and advisory, and Individual Tax requirements.

UK Company Tax Requirements and Computations

Understanding and adhering to UK company tax regulations is crucial for any business operating in the UK. Our dedicated team of tax specialists offers the following services to ensure your compliance and optimize your tax position:

• Company Tax Registration: We assist in the necessary registration for corporation tax, ensuring you meet all legal requirements promptly.
• Tax Computation: We perform accurate calculations of your company’s taxable profits, incorporating all permissible deductions, capital allowances, and reliefs. Our expertise ensures that you pay only the tax required and take full advantage of available incentives.
• Filing Compliance: Our team prepares and submits the Corporation Tax Return (CT600) along with any supplementary forms. We ensure that deadlines are met to avoid penalties and late fees.
• PAYE and National Insurance Contributions: We help you calculate and report your Pay As You Earn (PAYE) tax obligations, ensuring accurate withholding for employee income tax, National Insurance contributions, and other deductions.
• Online Filing: We assist with all aspects of digital filing, ensuring compliance with HMRC’s requirements for electronic submissions, safeguarding against errors that could lead to penalties.
• Research and Development (R&D) Tax Credits: If your company engages in innovative projects, our team will conduct a thorough analysis to identify and claim R&D tax credits, providing significant savings on tax liabilities.
• Tax Investigation Support: In the event of an HMRC investigation, our experts provide guidance and representation to navigate the complexities of your case with minimal disruption to your business.

VAT Compliance and Advisory

• VAT Registration and Deregistration: We assist businesses with VAT registration, ensuring they understand their obligations and the implications of VAT collection. If required, we also manage the deregistration process when businesses fall below the VAT threshold or cease trading.
• VAT Returns Preparation: Our team prepares and files VAT Returns accurately and on time, ensuring that all outputs, inputs, and adjustments are meticulously documented to reduce the risk of errors and penalties.
• VAT Planning and Structuring: We offer advice on VAT-efficient structuring of transactions and operations, ensuring clients navigate complexities such as the reverse charge, partial exemption, and cross-border transactions effectively.
• VAT Compliance Checks: To safeguard our clients against potential VAT issues, we conduct compliance reviews. This includes examining VAT accounting records and transactions to identify areas of risk and ensuring adherence to HMRC regulations.

Tax Planning

Proactive tax planning is essential for minimizing liabilities and maximizing wealth both in the short and long term. At Balancing Act Financial Services Ltd, we believe in strategic planning tailored to your unique financial situation:

• Strategic Tax Planning: We work collaboratively with your management team to develop effective tax strategies that align with your business objectives. This includes a review of current structures and the identification of efficiencies.
• Annual Tax Reviews: Our professionals conduct yearly reviews to assess your tax position, ensuring that you are prepared for upcoming legislative changes and seizing opportunities that may arise.
• International Tax Planning: For businesses operating globally, our team provides insights into international tax obligations, transfer pricing strategies, and the implications of double taxation treaties.
• Exit Strategies: We help craft strategic exit plans that minimize tax liabilities when selling or closing a business, including the use of Enterprise Investment Schemes (EIS) and Business Asset Disposal Relief.
• Succession Planning: For family businesses and partnerships, we provide tailored succession planning strategies to ensure a smooth transition while maximising tax efficiency.

UK Individual Tax

Navigating personal tax obligations can be daunting, which is why our firm offers dedicated services for individuals, ensuring compliance and efficient tax management:

Self-Assessment: We assist in preparing and filing Self-Assessment tax returns, ensuring all income, capital gains, and allowances are accurately reported.

Income Tax Calculations: Our team offers detailed income tax computations, taking into account all applicable deductions, benefits, and allowances, to maximise your tax position.

Inheritance Tax Planning: We provide comprehensive advice on Inheritance Tax liabilities and help you implement effective estate planning strategies to preserve wealth for future generations.

Tax Reliefs and Benefits: We help individuals identify and claim available tax reliefs, including those for charitable donations, pension contributions, and tax-free savings accounts.

Tax Investigations: Should you face inquiries or audits from HMRC, our experienced specialists will guide you through the process, ensuring your rights are protected while achieving a satisfactory resolution.

Inheritance Tax Returns (IHT400): For individuals dealing with estates, we assist in the preparation and submission of Inheritance Tax Returns, ensuring compliance with the complicated regulations surrounding estate tax.

Why Choose Us?

At Balancing Act Financial Services Ltd, we pride ourselves on providing a personalized approach to tax compliance and planning, ensuring clarity and confidence in your tax affairs. Our team of knowledgeable tax advisors is committed to staying updated with the latest tax legislation and are available to answer any questions you may have.

We understand that every client is unique, which is why we offer customized solutions designed to meet your specific needs. Whether you’re a company seeking to optimize your tax position, or an individual aiming for effective tax management, we are here to help you achieve your financial goals while ensuring compliance with the law.

Contact us today to learn how our services can support you in navigating the UK tax landscape!