We’re here to help you better your business.
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We’re here to help you better your business.
What did you come to London Accountants for?
“All the team at London Accountants are both knowledgeable, proactive and a pleasure to deal with.
When trying to build a business and our team. To have these guys in our virtual back office, means we
can focus on winning work and delivering a bespoke product and service to our clients.”
Navigating the intricacies of tax law can be challenging and as an accountant specialising in the trades industry, I stay up to date with the latest updates and amendments to tax regulations.
By understanding these changes, I can provide informed recommendations that align with your
personal circumstances, ensuring compliance and helping you make the most of available tax
benefits. My expertise can guide you through these complexities to keep your tax affairs in order.
As a self-employed tradesman/woman, you face a unique set of tax considerations. From mileage expenses to tools and equipment costs, there are numerous tax advantages available to small business owners in the trades industry.
By enlisting the services of me, a qualified accountant, you gain access to expert guidance on navigating the often intricate world of tax write-offs. My specialised knowledge can help maximise your tax savings and potentially save you a significant amount of money.
Let's face it, tax matters involve numbers and calculations. If you'd rather undergo a root canal than
deal with complex mathematics or if you find managing your finances personally overwhelming, hiring me is a wise decision.
I possess a natural affinity for numbers, equipped with the expertise and experience to
handle tax forms accurately and efficiently. By entrusting your tax obligations to a professional who
genuinely enjoys working with numbers, you can ensure greater accuracy and peace of mind.
If you have multiple sources of income, such as running your business alongside rental properties or another side business, your tax situation can become considerably more complex. I can help you identify potential tax savings that you may not be aware of. By leveraging my knowledge and experience, you can optimise your tax position across various income streams, ensuring you capitalise on available opportunities while complying with tax regulations.
One of the most significant advantages of hiring an accountant is the time and accuracy I can offer. Preparing your own taxes can be a time-consuming task. By entrusting your taxes to me, you save precious time that can be better spent on your business.
Additionally, I possess comprehensive knowledge of tax laws and savings opportunities, making me an ideal advisor throughout the year, not just during tax season. Whether you have questions about tax incentives for electric vehicles, debt management, or other financial matters, I can serve as a trusted financial advisor, providing valuable guidance beyond tax compliance.
Investing in the services of an accountant tailored to your needs is a prudent choice, delivering
long-term financial benefits and peace of mind.
The CIS (Construction Industry Scheme) in the UK applies to various trades in the construction industry, including building, civil engineering, electrical, plumbing, heating, demolition, groundwork, security systems, painting, tiling, flooring, and scaffolding. Contractors and subcontractors in these trades must comply with the scheme’s tax deduction and reporting requirements.
In the UK, the deadline for filing your company’s tax return depends on the company’s accounting period. The accounting period is the period for which the company prepares its financial statements.
For most companies in the UK, the deadline to file the company tax return is:
For example, if your company’s accounting period ends on December 31st, the deadline for filing the company tax return online would be December 31st of the following year. If you are filing a paper return, the deadline would be the end of September of the following year.
Companies may have two accounting periods when they decide to change their accounting year-end, resulting in a transitional or “dual” accounting period. This situation can arise for several reasons:
Change in Financial Year: A company may decide to change its financial year-end for various reasons, such as aligning it with the parent company’s year-end, facilitating reporting, or improving financial planning. When changing the financial year-end, there is a need for a transitional or “dual” period to cover the gap between the old year-end and the new year-end.
Acquisitions or Mergers: In case of a merger or acquisition of companies with different financial year-ends, a transitional accounting period might be necessary to consolidate the financial statements and align the accounting periods of the merged entities.
Change in Company Status: If a company changes its legal structure (e.g., from a sole proprietorship to a corporation), it may result in a change in the accounting period, leading to a dual accounting period.
Compliance with Reporting Standards: Companies might need to comply with different reporting standards or regulatory requirements. For instance, a company that previously followed the UK Generally Accepted Accounting Principles (UK GAAP) might transition to International Financial Reporting Standards (IFRS), leading to a dual period.
During the dual accounting period, companies must prepare financial statements for both parts of the period and ensure that transactions and financial records are accurately accounted for in each segment. This process can be complex, and companies usually seek professional accounting assistance to handle the transitional period and ensure compliance with accounting standards and tax regulations.
