Taxation

Self Assessment

Every self-employed individual, company director and higher rate tax payer is required to file an annual self-assessment tax return by the 31 January each year.

These returns have to be submitted electronically otherwise the deadline for manual returns is 31 October.

We have the systems in place to ensure key dates are adhered to and the returns are provided to HM Revenue & Customs via the Internet.

Corporation Tax Returns

We will endeavour to prepare your Corporation tax returns at the same time as we prepare your annual financial statements. This allows us to deal with any issues immediately whilst it is fresh in the minds. We prepare these returns through our knowledge and experience on allowable items and can advise further on tax reliefs including capital allowances.

Returns have to be submitted within 12 months after the year end to HMRC and any tax should be paid 9 months and 1 day after the year end.

Payroll

Managing a payroll can be time consuming, complicated and expensive and can also take your time away from running your business. We are able to provide a cost effective choice which means the hassle and expense can be taken off your hands and we can manage the full service for you. We provide weekly or monthly payslips, advise on PAYE/NI payments and we also take care of your year end compliance by completing the P35s & P14s and the employees' P60.

We are kept updated with the changes in the tax rates, Statutory Sick Pay, Statutory Maternity Pay and Statutory Paternity Pay.  We have the facilities to cope with both a small or large number of employees.

We also assist in the implementation of HMRC's Real Time Information (RTI), and the monthly pay returns.

Trust & Estates

We provide a comprehensive service on Trust and Estate accounts, coupled with the statutory tax returns. We receive work from existing clients, new clients and referrals from local solicitors.

Probate assistance

We offer the service of assisting our existing and new clients through probate during the emotional time of losing someone close to them.

Tax Credits

We are able to assist in the preparation of the annual Tax Credits declaration. We can advise you of your actual or estimated figures in a timely fashion and again if adjustments are necessary once your tax returns have been finalised.

VAT returns

We have a dedicated VAT department who are able to complete your VAT returns within the statutory deadlines and advise of the payment/repayment thereof. This service takes the hassle out of completing the VAT return yourself and also provides a peace of mind service. We can advise on the best VAT solution for your business including the Flat Rate Scheme, Cash or Annual Accounting etc.

Tax Investigations plan

With HMRC inspectors under pressure to increase the tax revenue, more and more tax enquiries are expected. LHP have the expertise to deal with the enquiries and negotiate settlements.

However, we understand that many of the enquiries maybe of a random nature, we offer a fee protection scheme to cover the cost of our fees in having to deal with the enquiry. This protects our clients from the financial burden of an enquiry or dispute.

Many of our clients have taken up this service and we believe that the level of cover and benefit on offer is ideal in an increasingly tough economy.

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