Tax Planning – Understanding Tax Deductible Expenses and Other Implications

: Understanding tax deductable expenses and other tax implications, such as charity giving, is a large part of tax planning.

At Adams Moore, we offer specialist advice on business, corporation, sole trader and personal taxation to those in Tamworth and surrounding Birmingham areas. Tax planning can be a minefield and with ever-changing legislation, it is wise to seek advice from experts. Whether business owners need to know the rules around charitable giving, what are classed as tax deductible expenses, how to reward employees without tax implications or general advice on the latest UK tax landscape, we are on hand to guide and assist.

Under the tax planning service, we offer:

 

Management Reviews

We can review the various taxes your business pays to ensure you are paying the correct amount, and help with ways to save tax, such as moving onto the flat rate VAT scheme – as well as ensuring all returns are up to date. We can also work with you and HMRC to resolve any matters or problems that are encountered.

We offer monthly/quarterly strategic reviews, at which results and future strategy are discussed.

Audit Management

Whether you’re a business, sole-trader or an individual in Tamworth or Birmingham, we can help to plan your taxes.

While it is unusual for small businesses to be audited, Adams Moore has a regulated audit company that can undertake any audit work that is required. We will automatically look for ways in which to improve your accounts, such as looking at tax deductible expenses and other tax implications, while keeping disruption to your business at a minimum. Our tax audit advice services also include statutory and specialists audits, each tailored to individual company needs with reports provided upon completion.

If your accounts currently need to be audited and you think you may not under the new rules, or you require a tax planning service to help you make the most efficient return possible, please get in touch on 01827 54944. We will be happy to assess and advise you accordingly.