Tax settlements

Complete accounting service for companies and private individuals.

Tax settlements – We do a full accounting service for the companies and private individuals. If you need to do a tax settlement or simply have a question about taxes – we are here for you. You have to do a tax settlement every year. This means a lot of receipts and paper work for small and big companies. It is widely known we must do tax settlements very thoroughly and closely because every mistake can cause us many hours wasted on doing settlement again and it can be very oppressive especially if we do not know where we did this mistake. Busy business person will not have time to do it, and as you know time is money.

Nevertheless, why should you worry about it if you can simply commission it to someone diligent, who will reliably and flawlessly do it for you? Thanks to us you will save your time and health. Commission it to us and we will not disappoint you.

In current financial year 2017/18 tax allowance has been raised up to £11,500, whereas tax allowance for the year 2016/17 which we should do tax settlement was £11,000. Paper form deadline for self- employed people is 30th October every year while online form deadline is 31st January every year.

When it comes to people working on contract they do not have an obligation to do tax settlements every year, because their taxes are being withheld up to date. It is worth however to check whether correct amount of tax has been withheld (sometimes there are mistakes when we have two employers in one financial year or we did not work the whole year) then after we received P-60 or P-45 we can reclaim lost money. If we have two forms of employment (self – employment and contract) we are obliged to do tax settlement every year. People who are self – employed and work in construction sector in CIS scheme as subcontractors have tax to recover. The amount of tax refund is dependent on costs connected with company’s activity. The most popular deducted costs are: materials, tools, uniforms, telephone bills, marketing costs (advertisement, business cards, leaflets, web page etc.) or accounting service costs.

After each financial year people working on contract should get from their employers P – 60; otherwise if they change their workplace during financial year, employer is obliged to give document P – 45 which they should give to their new employer.

People who have Working Tax Credit and Child Tax Credit should get a form (annual tax declaration) from revenue between April and June each year. The form updates wages for the last financial year and it needs to be send to the revenue till the end of July, containing gross income not net income just to avoid possible money return. Self – employed people should do a tax settlement and afterwards send the form to the revenue.

For more information or our offer please contact us on 0203 4902 919 or 07716 161 381.

Tags: Accountant London, Ealing Broadway, Self – employed tax settlements

About us – Polish Accounting Office Advena – London, London Accountant, Ealing.

Accounting Office Advena London Ealing – runs complete service for small and big businesses and private individuals in United Kingdom, London, Ealing. Our goal is professional accounting service for every customer and also business consultancy so that your business can constantly develop and leave behind competitors. You need valuable contacts and we cooperate with one of the biggest newspapers in United Kingdom and one of the biggest English banks. If you for example run a grocery store, we have a special offer: we will run complete accounting service and recommend you to the biggest polish warehouse we work with. Thanks to our recommendation you will get special offers (discounts, promotions, sampling and ads in the shop). If you run a construction company we are able to help you gain a valuable contract. We have very expanded net of contracts that is why we invite many different businesses to cooperate. Your success will be ours, so we want to help customers to develop their companies. Polish society in United Kingdom (London, Ealing) is expanding dynamically and every business needs a little bit of help from accounting office in order to be able to grow constantly and function properly.