Tax Accounting Anglesey North Wales

taxation

Image of Menai Suspension Bridge, Anglesey

SELF ASSESSMENT TAXATION
VAT, CIS

Self assessment

Self assessment can be a time consuming and often confusing business for busy individuals.

It can also be very costly if deadlines are missed or incorrect returns are submitted.

At Anglesey Accounting we aim to spare you all these headaches and free up your valuable time by offering a comprehensive Individual Self Assessment service, including:

Liaising with your bank, building society etc to gather the relevant data for your annual returns
Calculating your tax liability
Completing and filing your tax return on your behalf
Advising you when various payments are due and how much to pay
Introducing you to any relevant tax saving ideas
Representing you in the event of your being selected for investigation by HM Revenue & Customs

VAT

The ever widening scope of VAT, the constant stream of detailed changes to the regulations, and the ever growing demands of HM Revenue & Customs call for a trained professional eye to ensure that you do not fall foul of the regulations and do not pay the Exchequer more than you need to!

We provide an efficient cost effective VAT service, which includes:

Assistance with VAT registration
Advice on VAT planning and administration
Use of the most appropriate scheme
Completion of VAT returns
Planning to minimise future problems with HM Revenue & Customs
Negotiating with HM Revenue & Customs in disputes and representing you at VAT tribunals

CIS

The Construction Industry Scheme (CIS) sets out the rules for how payments to subcontractors for construction work must be handled by contractors in the construction industry.

When a contractor pays a subcontractor, the contractor withholds 20% of any subcontractor labour costs (Net). The contractor is required to pay this withheld balance over to HMRC on a monthly basis.

The subcontractor reclaims the amount from HMRC at the end of the tax year. In practice, the reclaimed amount is knocked off any tax owed by the subcontractor to HMRC.

The scheme is effectively a way for HMRC to use contractors to tax subcontractors up front.

We provide an efficient cost effective CIS service, which includes:

Processing the gross payment each pay period for each sub-contractor, calculating the correct net payment
based on whether the sub-contractor has registered with HM Revenue & Customs, who will confirm which tax rate to apply.
Verification of new sub-contractors with HM Revenue & Customs where required.
Completion and submission of the monthly CIS300 return to HM Revenue & Customs by the 19th of the month, following approval by the contractor.
Production of the sub-contractor statements each pay period.

taxation

SELF ASSESSMENT TAXATION VAT, CIS

SELF ASSESSMENT TAXATION
VAT, CIS