Income tax return and advance tax

We file the annual income tax return for your business and work out your advance tax before each instalment falls due. Advance tax is paid in four instalments through the year, and businesses that skip it pay interest on the shortfall. Because your books are current every month, the return at the end of the year is a summary of work already done, not a scramble in September.

What we do

What this covers, every month.

The annual return for your business. Prepared from books that are already closed, so the figures are not being invented in the last week.
Advance tax, four times a year. We tell you the amount before each date, based on how the year is actually going.
Your tax position through the year. Ask on WhatsApp what your tax looks like so far and you get an answer, not a shrug.
Depreciation, disallowances and the rest. Handled as part of the return, not as a set of questions you have to answer.
You approve. We file. You see the return and the computation before anything is submitted.

What we need from you

Your side of it.

Nothing extra, if we already keep your books
Your income tax portal access, once, at the start
Your last filed return, so we start from the right position

A return prepared from books closed every month is a different exercise from a return prepared from a shoebox.

Questions

What people ask about income tax.

Does this include my personal income tax return?

No. This is the return for your business. A director's or an owner's personal return is a separate job. Ask us and we will tell you what it involves.

What is advance tax and do I have to pay it?

Advance tax is income tax paid across the year in four instalments rather than in one payment at the end. If your tax for the year is above the threshold, you owe it, and paying late or short attracts interest. We work out the amount before each date so it is a planned payment instead of a penalty.

My business made a loss. Do I still file?

Yes, and filing on time is what lets you carry the loss forward against future profits. A late return can cost you that. This is one of the more expensive mistakes a first-year business makes.

Do you handle income tax notices?

Routine notices are handled inside the monthly fee. If something turns into a full assessment or an appeal, we tell you plainly that it is a bigger job and what it will take.

The rest of it