TAX & VAT

There are so many different types of tax that you may have to pay – but do you know which ones affect you? Do you know how to fill in a tax return or what information you’ll actually need and when it needs submitting by? There are strict deadlines to meet and you could face penalties if you get it wrong!

Guidon Group will take that stress away from you by doing it all for you.

Tax & VAT
Self Assessment + Corp Tax

Self-Assessment

Whether you’re a sole trader or a limited company most business owners need to complete a self-assessment tax return each year. This can be complicated, especially if you are a sole trader, have more than one job, have income from property or, if you’re lucky, have interest from savings.

Corporation Tax

If you’re a limited company, you will have to submit a corporation tax return to HMRC yearly. This is usually done at the same time that your year-end accounts are prepared. Having a qualified accountant will ensure that your tax bills are kept to a minimum and meet legal requirements.

VAT

If your turnover exceeds £85,000 per year you are required by law to become VAT registered. Do you know what this means for your business? It can affect your customers so it’s worth getting all the information. You can also claim VAT on some items.

If all this isn’t enough to give you a headache, there’s the complication of the different VAT percentages! You also have the added responsibility of preparing and submitting VAT returns every quarter. If you do those yourself it eats even further into your valuable time.

You can also end up paying more than you need to if you get VAT wrong! And if you make a total hash of it, it may result in a visit from a VAT inspector. Who needs all that hassle?

Just hand it over to us, and we’ll take care of it!

VAT