Managing Tax

Tax can be a headache for company directors. It can be difficult to stay on top of everything.

You must understand all aspects of taxation including the ever-changing legislation and keep your accounts up-to-date and your records safe.  You must complete your various tax returns, submit them and pay any tax owed.  You might need to defend yourself against tax enquires and tax disputes.

On top of running a business, this is a lot to manage.  You need someone who will take this off your plate.  You need someone who will give you the business advice you need.  You need someone who is willing to fight your corner.  The taxman and even your bank manager can seem like a formidable foe at times but we offer you maximum protection.

We can even greatly reduce the amount of time you spend on managing your accounts.  It is much quicker and easier to use a digital accounting solution, such as Free Agent which has been specifically designed for directors of small businesses.  It helps you to manage your finances and monitor your bank account in real time.

It is then simple to give your qualified accountant access to Free Agent so they can produce your accounts, file your return correctly and look after everything on your behalf.

Apex Associates can help you with a range of services including:

  • Completing your various tax returns- we will ensure that it is done right, submitted on time and you are paying the legal minimum of tax
  • Tax Planning- you can minimise your tax through tax planning in the current tax year. Find out how.
  • Tax Disputes- tax disputes do occur and HMRC are not always right. We can protect you and your company from disputes.
  • Tax Enquires and Investigations- the biggest fear for many directors is a tax investigation. We will fight your corner and we offer insurance to cover our costs for helping you.

Completing the Various Tax Returns

Company directors have various tax returns to worry about including business returns, VAT returns and often self-assessment.

It is important that:

  • All your tax returns are correctly completed
  • They are all filed on time
  • All backup records are retained for the appropriate amount of time
  • You pay the legal minimum of tax- we will legally minimise your tax bill through efficient tax planning and making the maximum use of your allowances, deductions etc.

We will take the strain of completing your returns and minimise your tax bill. Free up time and focus by letting us manage your tax returns on your behalf.

We can advise you on:

  • Corporation tax and VAT
  • Self-assessment– many company directors must complete a self-assessment return (link to page)
  • Tax Efficient Employee Remuneration Strategies– pay yourself and your employees in a tax efficient manner
  • Tax planning– look at ways to legally minimise your tax and VAT through effective planning
  • Capital Gains Tax- if you are selling a business asset (e.g. land, buildings, plant, machinery, etc.) that has increased in value, then you are liable for Capital Gains Tax and we can help you to minimise this liability
  • Profit Extraction Strategies– how do you efficiently extract profit from your business?  We can show you proven strategies to help.
  • Exit Strategies- how do you want to exit your business?  Do you want to sell it, pass it on to a family member or take a back seat while someone else runs it for you?  There are various options and we will advise you.
  • Employment status– it is important that you know if your workers are considered to be employed or self-employed.  If you are treating them as self-employed and they are ruled to be employed, then this can have a big impact on your business.
  • Inheritance tax strategies– it is important that you plan for the future.  If you own a valuable business then it is worth considering how you will limit your inheritance tax so that your family gets