Contact Us

Call: 0118 979 9744



Email: info@bettridgeandco.com

 

Or use our contact form.

Address

28 Broad Street

Wokingham

Berkshire

United Kingdom

RG40 1AB

Office Hours

Monday - Friday

9.00am - 5.30pm

 

You can meet us outside these hours by

appointment.

 

 

Business Tax

 

Company Tax

 

 

 

Corporation tax can be a significant part of your trading costs. Increased reporting obligations and harsher penalties for non-compliance mean that an undue amount of your time can be taken up collecting revenue for the Government.

 

 

 

We offer a range of services to help you minimise your corporate tax liability and relieve you of the burden of complying with tax legislation including:

 

  • Determining the most tax effective structure for your business
  • Achieving the optimum capital or revenue tax treatment
  • Utilising tax opportunities and reliefs
  • Efficient corporate tax planning can result in potentially significant improvements in your profit.
  • Maximising tax opportunities specific to your industry
  • Meeting the rigorous demands of compliance including corporation tax returns and computations including online filing by iXRBL
  • Acting on your behalf in discussions with HM Revenue & Customs.

 

 

 

VAT

 

 

 

We can help you and your business with all aspects of registering for VAT including:

 

  • Whether your business is required to register for VAT
  • Whether it would be beneficial to register for VAT voluntarily
  • Whether your business should be on the flat rate scheme
  • Whether your business should operate on a cash or invoice basis for VAT.

 

 

 

If you are already VAT registered, we will complete a VAT healthcheck to ensure that you are on the correct scheme and have made the most of any tax planning opportunities.

 

 

 

Our VAT service includes:

 

  • Free initial VAT healthcheck
  • Preparation of your VAT returns
  • Online filing of your VAT returns
  • Advice and support on VAT matters
  • Dealing with VAT inspections

 

 

 

Sole Traders, Partnerships and Limited Liability Partnerships

 

 

 

  • Sole Traders, Partners and members of Limited Liability Partnerships (LLPs) are classified as self-employed and must complete a self-assessment income tax return annually.
  • You will not be taxed on your income as employees are, you will instead be allowed to deduct business expenses and be taxed on the profit you have made.
  • Partnerships and LLPs are taxed on your share of the profit after deductions.

 

We offer a range of services to help you minimise your tax bill, please contact us to discuss.

 

 

 

National Insurance Contributions (Class 2 and 4)

 

 

 

  • Sole traders, partners and members of LLPs are liable for Class 2 NIC, paid at a weekly flat rate, Class 2 contributions count towards certain benefits, like the basic State Pension, Maternity Allowance and Bereavement Benefit. But any claims for benefits may be affected if your payments are late
  • Class 4, is paid on profits and gains at or above a set level, are based upon your taxable profits for that year, which are included on your annual Self-Assessment tax return.
  • This applies to all people who are normally self-employed, and aged 16 or over, and under state retirement age. Class 4 liability does not cease until 5 April following retirement age.

 

We can assist you in meeting these requirements.

 

 

 

Employment Taxes

 

 

 

  • As an employer you have a legal obligation to operate PAYE on the payments you make to your employees if their earnings reach the National Insurance Lower Earnings Limit (LEL). For the tax year 2012-13 this is £107 a week, £464 a month or £5,564 a year.
  • You use the employee's tax code and National Insurance category letter to work out how much Income Tax and NICs to deduct from their pay and how much Employer's Class 1 NICs you owe on their earnings.
  • By the 19th of each month - or by the 22nd if you make electronic payments - HMRC must have received the amounts owed. You may be able to send the amounts due every quarter if your average monthly payments are likely to be less than £1,500.

 

 

 

We can assist you in meeting these requirements.

 

 



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