Category Archives: UK Tax Self Assessment

Helping YOU keep your business on track

Accountant, Business structure, Cis, Construction Industry Scheme Cis, Self Assessment & Tax Returns, Self employed, Tax services, Taxation & Self Employment, UK Tax Self Assessment, Uncategorized, Vat returns, , ,

When it comes to keeping your business numbers in order, it’s often an afterthought – until you run out of cash in the bank.  Even if your bank balance is in the black how much thought do you give to reaching specific financial targets each month?

As a small business it’s often difficult to put time aside to focus on this when you’re so busy running and trying to keep all the balls in the air.  However, understanding what the numbers in your business are telling you can be an enormous help to growing a seriously profitable business. Look at it as making money and keeping it, rather than scraping by or always surprised when you get big bills to pay.  Financial challenges don’t go away if you ignore them – they just get bigger and scarier!

With my help to focus on what numbers you need to know, what you need to watch and what you need to take action on, you’ll find it will all get a lot easier.  You’ll know what to do to stay on track to that profitable future you had in mind when you started out in business

If you’d rather do anything than plod through your self-assessment forms or want to make sure your business tax demands don’t leave you open to penalties, you’re in exactly the right place.

Don’t wait until things get really tough!

TAX – Make sure you only pay what you HAVE to!!!

Book kepping, Capital Allowances for Commercial Property, Corporation Tax, H M R C Investigations, Income & Investments, Investors & City traders, Landlords & Rental Income, Partnerships, Professional services, Rental accounts, Self Assessment & Tax Returns, Self employed, Taxation & Self Employment, UK Tax Self Assessment, Uncategorized, Vat returns, , , , , ,

 

Make sure you only pay what you HAVE to

Even though the Self-Assessment form is supposed to make it easy for you to complete your personal return yourself all those boxes can be daunting. When it comes to business tax returns, whether that’s corporation tax, VAT or the ins and outs of the Construction Industry Scheme (CIS) all this paperwork can be a major headache and take over your life.

Tax services                                                         Tax photo Jan 2012

  • Prepare income and expenses for sole traders, partnerships in order to complete your personal self assessment tax return and file on line.
  • Landlords – Property income and expenses.
  • Prepare and file your VAT returns and advise on the best VAT scheme for your business.
  • Prepare the paperwork for corporation tax, if youre a limited company, and ensure you are getting the best tax option for your situation and file through IXBRL.
  • Company formation.
  • complete your self-assessment forms if youre an investor or city trader and ensure you don’t pay tax on anything you don’t need to – and that you claim all the allowances you should.

Let’s be honest, you’d far rather be doing what you do best, rather than poring over sheets of numbers, let alone working into the wee small hours trying to make sense of it all hoping for the best which can cost you in the long run.

If you need help with your paperwork or have managed to get yourself in a pickle, feel free to contact us on: Mb: 07801 287 213or Email: info@virtualtaxuk.comor visit our Website: www virtualtaxuk.com

 

 

 

NEW YEAR & A NEW VENTURE

Business start ups and advice, Business structure, Self employed, Taxation & Self Employment, UK Tax Self Assessment, , , , , ,

 

NEW YEAR & A NEW VENTURE

Starting a new business venture can be a very exciting and thrilling time but have you thought about investing in any advice before you launch. It’s important to speak to the right people when it comes to structuring your new venture because at times you will need to exercise caution and shield yourself from any sudden misfortune.

Nurturing your strength of spirit so that you are strong enough to manage others and write a good pitch when winning business is just as important for you “The owner” as running the business on a daily basis.

So before you leap into your new venture here are some tips & thoughts to consider

TIPS & THOUGHTS

  • What research have you undertaken to check if there is a market for what you are offering which, will supply you with an indication that your venture is a viable one and has potential for growth?
  • Will your new venture be a seasonal business and what provisions have you built in for the other seasons to ensure you have a healthy cash flow?
  • win_icon(3) Pitch ImageWhen you have an opportunity to rent a room from someone on the high street already under a lease with a land lord make sure by proof of disclosure that they have the provision to sub- let. Failure to check and comply can lead to many problems for all parties concerned. This situation can be a costly one and should check before you leap.
  • When pitching and winning business ensure that you present yourself in a professional manner, dress professionally which will help you feel the part when selling your services to others which will put you ahead of your competitors.
  • Pitching your business requires you to practice, practice and practice until you can speak confidently. Videoing yourself in order that you can see how you come across can be a very useful tool because it will allow you to see what others see. If, you don’t like what you see or hear – change it.

You only have one chance to make a great impression so keep it simple and to the point and remember to deliver with confidence.

If this sounds like something you can do with some help with contact Jane by Calling Mb: 07801 287 213 or send her an email at: info@virtualtaxuk.com

Make sure you only pay what you HAVE to

Accountant, Book kepping, Corporation Tax, H M Revenue & Customs, Self Assessment & Tax Returns, Self employed, Tax filing dead lines, Taxation & Self Employment, UK Tax Self Assessment, Uncategorized, Vat returns, , , , ,

Even though the Self-Assessment form is supposed to make it easy for you to complete your personal self assessment tax return yourself all those boxes to complete can be daunting.

When it comes to your own personal tax return or those for your business such as corporation tax, VAT or the ins and outs of the Construction Industry Scheme (CIS) all this paperwork can be a major headache and take over your life.

If it’s all getting a bit too much for you, but you’re not ready for a fully-fledged accountancy service, you’ll find Virtual Tax UK offers a personalized service that will take the pressure off.

Returns are about making the correct declaration to H M Revenue & Customs as it can turn out to be quite a costly exercise if you get it wrong.

Feel free to contact us for a chat about how we can help alleviate any problems allowing you to get on with the daily running of your business or email us on

info@virtualtaxuk.com

Tax Tips Renting out your own car space- taxable or non taxable?

Accountant, Book kepping, Business structure, H M Revenue & Customs, Legal documents, Professional services, Rental accounts, Self Assessment & Tax Returns, Self Assessment-uk, Self employed, Taxation & Self Employment, UK Tax Self Assessment, Uncategorized, Who needs to file a Self Assessment Tax Return?, , , , , , ,

TAX TIPs

How many of you who have rented out your own car park space knew the consequences?

Did you know that renting out your own car space and receiving income from that source is deemed as taxable income, even if that means that by doing so you have to rent a space yourself.

Renting out your own car park space on your own driveway means you are responsible for declaring that income on your own personal self assessment tax return when you file it to  H M Revenue and Customs. The entries should be made on the Land & Property pages

Remember to consider that should you enter into this type of arrangement make sure you prepare a contract and include a break clause in case the situation changes.

How care aware are you?

Business start ups and advice, Business structure, Landlords & Rental Income, Mental Capacity Act, Professional services, Rental accounts, UK Tax Self Assessment, Uncategorized, , , , , , , , , ,

CARE AWARE

In todays society amd from personal experience, I know how difficult it can be to decide what to do when a loved one is taken ill or diagnosed with chronic disease and the impact it can have on day to day running of your business.

The benefit of my experience is that I know what questions need to be asked to ensure YOU make the best decisions and what to consider, plan and structure for in the changing times ahead in regards to those old age problems and rising Care Costs. 

THIS NEW service “CARE AWARE” covers various topics such as:

  • Considerations of what you may have to prepare for when older family members need help and how it may affect you and or your business.
  • Health- Social Care – It’s impact.
    know the difference.
  • Lasting Power of Attorney Finance & Health & Wealth fare
  • The importance of making a will.
  • Considering A Care Home, Ask the right questions.
  • How to manage and cope and structure for changing times ahead when dealing with loved ones who are losing or have lost Mental Capacity.

Capital Allowances on Commercial property

Accountant, Business structure, Capital Allowances for Commercial Property, Commercial property, H M Revenue & Customs, Landlords & Rental Income, Professional services, Taxation & Self Employment, UK Tax Self Assessment, , , ,

A new directive soon to be released in the next few years on Capital Allowances on Commercial properties.

Training for my business commences with Simeon Parker on the 22nd November to help us stay ahead of the curve. If you want further information on this contact us through our website http//www.virtualtaxuk.com

Are you caliming the correct allowances?

 

Write the script

Business start ups and advice, Business structure, Rental accounts, Self employed, Tax filing dead lines, UK Tax Self Assessment, Who needs to file a Self Assessment Tax Return?, , , ,

Write a script for your business for your customers write it for you.

For all the clients who have invested in understanding the importance of how and why they are required to be really clear in what they are offering others and what they are not offering others are doing very well in this difficult climate.

The reason, well it’s very simple if you are not clear then the customers will inform you and that is no basis of any successful business.

 

Local Self Assessment Expert

Accountant, Book kepping, Business start ups and advice, Business structure, H M R C Investigations, Professional services, Rental accounts, Self Assessment-uk, Self employed, Tax filing dead lines, UK Tax Self Assessment, Who needs to file a Self Assessment Tax Return?, , , , ,

So, why choose me, Jane Cooper ? That’s simple, because I am an expert in Self assessment and because of my back ground, experience, and knowledge.
Thirty years ago, I worked for H M Revenue & Customs, until the self assessment program was launched in 1995. At that time, I had acquired my training in self assessment just as the program went live to the public. I was head hunted by an accountant for his private practice.
In that, I set up a self assessment program from scratch, with 13years tax returns filed without penalties due to firm, whilst, I developed and maintained strong client relationships. Through out that time, I set up simple systems that worked, met the needs of the owner, HM Revenue & Customs, but more importantly, the needs of the clients.

Self assessment dead line

H M R C Investigations, Rental accounts, Self Assessment-uk, Self employed, Tax filing dead lines, UK Tax Self Assessment

http://www.virtualtaxuk.com/wordpress/wp-content/uploads/2012/01/Tax-photo-Jan-2012.jpg

The tax filing deadline for self assessment is only 28 days away. If you have not done so already don’t forget to get your tax paperwork to your accountant soon to avoid the £100.00 penalty HMRevenue & Customs will levy on you if you don’t file by the filing date.