Tax Returns

We are all liable for tax at some point, whether you’re a sole trader, a subcontractor, or an employer running your own business, tax and VAT is something you can’t avoid. Chambers Bookkeeping can help you understand which taxes you need to pay when you need to pay and most importantly reduce your tax bill by using our tax efficient accounting systems.

Many business owners go down the route of completing their own tax returns, though in the short term this may seem to be the cheapest option; the implications to your business for mistakes and the cost that will be incurred can easily start to mount up. The majority of business owners unless they are also tax qualified will not fully be aware of all the capital allowances, mileage allowance, annual investment allowance and so much more that you are eligible to claim. These allowances are a major part of keeping your tax bills low. Tease are all steps put in place by the chancellor based on government guidelines, so understanding them fully and knowing how to utilise them to their full potential will be the difference in you saving money or losing money.

As part of our total credit control we offer an overview of your Tax liability on a monthly basis as well as a projection of the remainder of months based on current business performance. This projection will show you an overview of your tax liability as well as your forecasted sales based on current performance. With our total credit control designed the way it is, you are always on top of your finances, each month as your financial year progresses you will have the opportunity to save the money to pay your tax bills on time, avoiding any nasty tax surprises at the end of the year.