Welcome to
Tax Accountant Liverpool

Key tax obligations for new takeaways include registering for VAT as food sales are standard-rated, understanding VAT schemes like cash accounting, implementing digital till systems to record sales, deducting CIS tax from subcontractor payments, operating digital payroll for staff with RTI reporting, correctly accounting for tips, planning for year-end stock takes, being aware of business rates relief schemes in the area and maintaining thorough accounting records throughout. As your local accountants we can ensure your new takeaway gets off to the smoothest start tax-wise.

As your accountants, we’ll review expenditures to identify allowable deductions to reduce your photography business taxable income. These can include mileage and travel costs, equipment like cameras, computers, software, insurance, advertising, agency fees, professional subscriptions, finance costs, vehicle costs, training courses and use of home deductions for workspace used. Keeping detailed records is key. Our goal is maximising available tax relief through permissible expenses for self-employed photographers.

 Allowable expenses tradespeople like electricians can claim include: tools, equipment, van costs, work clothing, mobile phone, print and advertising expenditures, a portion of home costs if used as an office, training courses, professional membership fees, accountancy costs and other everyday business running costs that are integral to carrying out your work and generating income. We’ll ensure you make the most of all permissible deductions when operating as a sole trader.

Purchasing buy-to-lets involves tax planning considerations we can advise on, including: timing renovations and furnishings to maximise allowances, meeting stamp duty obligations, registering for self-assessment to declare rental income, making use of your annual Capital Gains Tax allowance when selling, and keeping inherited properties below the inheritance tax threshold through allowable exemptions. We aim to ensure landlords utilise all available tax reductions.

Tax due on selling a company depends on factors like ownership structure, company assets and whether you qualify for entrepreneurs’ relief, reducing capital gains tax to just 10% on qualifying share disposals. Other considerations are timing dividends and extraction of profits prior to sale, maximising any losses and allowances to offset gains and securing available business asset disposal relief. Our specialist advice aims to minimise your tax burden when exiting a business.

If facing a tax investigation, key actions include appointing expert representation immediately, cooperating fully while safeguarding your rights, collating required financial evidence like invoices and accounts, preparing for interviews under caution if needed and evaluating whether to appeal or negotiate at the conclusion. Our investigation experience helps guide companies through the process efficiently while securing the best possible outcome.