Preparing a tax return can be complex and confusing to business owners. Individuals who complete the process without professional advice often fail to claim all the available allowances and can pay significantly more tax than they need to. All tax payers should always seek professional advice to avoid overpayments and penalties for late filing and to optimize their tax position. For the various computations we at Tax Compute employ the latest software to ensure that your tax return is filed correctly and in good time. All returns are submitted electronically and provided we receive all information from you in good time we will guarantee that the return is filed on time.
1. Standard late filing fee of £100
2. Interest and surcharges charged on taxes paid late
Additionally at Tax Compute we can advise on whether it is better to set up a Limited Company or Partnership instead of continuing as a sole trader. The initial consultation for this service is free and the tax savings and benefits can be far greater than the additional costs of being a limited company or partnership. As the tax regime becomes more and more complex it is essential that business owners review their status and choose the most optimal solution.