Tax Services

Business Taxation

The UK tax system is complex, compliance is demanding and the penalties for getting it wrong can be costly. Therefore, to support the needs of sole traders, partnerships and small companies, we can provide business tax compliance services, including:

  • Timely completion of returns, calculating your tax liability and advising due payment dates
  • Advising on allowable expenditure, claims, allowances and use of tax losses
  • Preparing tax repayment claims.
  • Corresponding with H M Revenue & Customs
  • Computation of Capital Gains

Careful tax planning is also an important part of business life, so as well as the above, we also

  • Provide comprehensive tax planning advice relating to income tax, corporation tax, and capital gains tax, to ensure your business is structured as tax efficiently as possible.
  • Advise on employee taxation, remuneration strategy and all aspects of PAYE.
  • Advise on advantages and disadvantages of incorporation.

Personal Taxation

If your tax affairs are relatively straightforward and you already pay tax through PAYE, you may not need to complete a tax return. However you may need to complete one if they are more complex or you have income from other sources, such as:

  • Income from self-employment or from a partnership business
  • Rent or other income from land or property
  • Income from overseas
  • Other income which is received gross, i.e. without tax deducted.

Under self-assessment rules, taxpayers must complete their tax returns within strict time limits and pay their tax liabilities by certain dates – or face significant penalties. At Mill Scott, personal tax services are available for both private individuals and business owners, including:-

  • All aspects of Self Assessment
  • Preparing your tax return, and filing on line
  • Computation of liabilities, and advising on when amounts are due
  • Corresponding with H M Revenue & Customs
  • Computation of Capital Gains
  • Preparation of income from property accounts

In addition, in order to help optimise your tax position, we can provide comprehensive tax planning advice relating to income tax, capital gains tax, and inheritance tax.

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