Everything Taxwise Under Control
From personal & inheritance tax to VAT & corporation tax
Meet your legal obligations
We help both organisations and individuals minimise their tax burden while meeting all their legal obligations. Our technical support ensures they are compliant with tax legislation and reduces the amount of time they spend working on tax returns.
Given the increasing sophistication of HMRC, the complexity of the UK tax system and the time consuming requirements placed on individuals and organisations, it is important that you instruct advisers like us who can effectively manage your tax affairs.
Reduce the time burden of tax
The time burden of dealing with HMRC can seem as much of an imposition as the financial burden of paying tax. We can take that burden away from you.
We can help businesses, charities and social enterprises with their complex tax compliance obligations.
With increased pressure on businesses to fulfil their obligations for reporting on tax, our timely service helps you to avoid significant tax penalties.
Our areas of expertise
Tax issues resolved quickly
Highly recommended - thank you HB Accountants”
Making Tax Digital
HMRC has introduced Making Tax Digital (MTD) for VAT gradually. MTD for VAT started from 1 April 2019, affecting VAT-registered businesses with a taxable turnover above the VAT threshold of £85,000. Phase 2 of the UK started on 1 April 2022. It includes businesses who have voluntarily registered for VAT, who were left out phase 1. The MTD requirements include submitting returns online and digital recordkeeping. There are penalties for infringement and late filings.
The current plan for Making Tax Digital for Income Tax is for it to be introduced in 2 phases. Those with a qualifying income of more than £50,000 must use MTD from 6 April 2064, and a qualifying income of more than £30,000 from 6 April 2027.
Many businesses mistakenly think they are already complying with MTD because they submit their returns online. This is not enough. MTD also requires that all accounts information is recorded digitally and the system used directly interlinks with the HMRC system. HB Accountants provide advice on a case by case basis tailored to each organisation’s needs to ensure compliance.