Accountancy services are typically required at certain times in a small business owner’s career.
Registering for VAT
As your business starts to grow, and your turnover approaches the VAT registration threshold of £90,000, the rules regarding VAT start to become very complex. An experienced accountant can register your business for VAT and set up the most suitable VAT scheme for your business. The accountant can then complete and submit your VAT returns to ensure that you are complying with HMRC’s rules and avoiding any costly errors.
Taking On Your First Employee
Payroll, PAYE and National Insurance contributions are all managed through legal obligations placed upon employers of employees. It is easy to fall foul of these obligations and as a result, find yourself facing penalties associated with them.
Facing an HMRC Enquiry
If HMRC launches an investigation into the accounts of your business then you must seek the advice of an accountant. Understanding the tax obligations of a UK business is complicated and you will need help with correspondence with HMRC and explaining your position.
Planning to Sell or Restructure
When you decide to sell your business or restructure in some way, there will be tax implications for you. Take advantage of the Capital Gains Tax (CGT) reliefs available to you when selling your business. We can help you get the best deal possible and avoid paying over the odds for your business. For Accountancy Services, visit https://bhukgroup.com/accountancy-services/.
Getting the timing right will mean less stress and fewer expensive mistakes.
