Personal Tax Accountant

Choosing Tax Care as your personal accountant will provide you with endless benefits, including advice on issues such as capital gains tax, inheritance and income tax. This blog will consider the importance of a hiring a personal tax accountant.

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Why Choose a Professional Tax Accountant?

By choosing a professional tax accountant, a business is able to reduce their financial stress by having an extended finance department which can handle business operations smoothly.

Also, an accountant is able to advice a business regarding its growth and the strategies it can implement to ensure success. A personal accountant is able to carry out an in-depth analysis of a business situation and base its financial decisions on the given data to produce a favourable outcome.

Tax Care Accountants ensure that your staff are fully equipped with specialist knowledge and are constantly trained regarding new issues, such as those included in the Budget 2021, or any change in legislation which may have a negative or unfavourable effect on the business. Ultimately, a personal accountant can save a business’s time and cost.

The Services Tax Care Accountants Offer

Tax Advice and Tax Planning:

It’s vital for all businesses to ensure the accurate calculation of the tax they report to HMRC in order to avoid fines. However, this can sometimes be difficult, especially for new businesses who are unaware about the tax allowances they can claim, such as capital gain tax.

Tax Care Accountant will be able to provide your business with a personalised accountant who is able to give advice on new issues and explain the concept of Making Tax Digital and the implications a business can face by paying tax late.

Tax Care Accountant will also give business advice when VAT is applicable, explain the cash accounting or flat rate scheme, complete VAT control and reconciliation, and ensure all VAT is accurately assorted and all reports are produced.

Corporate Tax Information:

A specialised tax accountant is able to give advice regarding the tax liabilities if a business operates in different countries.

Bookkeeping:

Can be made easy with an accountant helping businesses to categorise the correct sales and purchase ledger accounts, bank balances and trial balance enabling quick bank reconciliation using QuickBooks or Xero.

Efficient Tax Planning:

Tax Care Accountant can provide advice on where to invest money by saving cash from efficient tax allocation.

Inheritance Tax Planning:

It’s often hard to keep updated with new rules, so a specialist is able to deal with this by giving advice and explaining whether any tax has to be paid.

Payroll:

Payroll is an important aspect for a business and to ensure its smooth operation and timescale, a business can outsource this function to an accountant.

Pension:

An accountant will be able to explain the pension scheme that may be suited to the business, the types of incentive schemes that are popular, customise payslips, and deal with statutory sick pay.

Why choose Tax Care Accountants?

Tax Care Accountant is able to assign a personal accountant to your business who is available to help anytime throughout the day due to our cloud-based system.

Tax Care Accountants offers a free trial where clients have no obligation to purchase the monthly subscription if they are unsatisfied with the business for any reason. Our package also includes cloud-based accounting software, such as QuickBooks and Xero, that are aligned to the new accounting legislation.

What Makes Tax Care Accountant Different?

The aim of the accounting firm is to make customer satisfaction the priority by:

  • If a customer is not satisfied with the service, TaxCare has the obligation to correct the mistake or provide a refund if it was the accounting firm’s fault
  • If a client’s deadline is not met, then 50% fee is refunded
  • Quick response
  • Fixed fees
  • Provides its services to eight location

How A Personal Tax Accountant Can Help New Businesses?

New business start-ups often require a loan, but they don’t always have all the appropriate paperwork, or they are unsure about the process. At Tax Care, our clients can get help through a compilation of detailed marketing, sales analysis, and financial statements, including balance sheets, profit and loss accounts, and cash flow forecasts with a detailed step to step guide on how to secure the bank loan.

Tax Care Accountant has a marketing platform for new businesses using tools such as:

Help with Tax Investigation

Unfortunately, businesses can sometimes get problems relating to HMRC which are often hard to deal with unless the business has specialist accounting knowledge. Therefore, having a personal tax accountant reduces the chance of making mistakes and they can help a business present a case if there is an issue.

HMRC fines can vary from £150 for being a day late to £1,500. To avoid this, a personal tax accountant can assist a business in preparing and budgeting annual accounts, corporation tax accounts, and ensuring self- assessment forms are completed correctly.

Overall, this blog has considered the importance of a personal tax accountant in avoiding issues such as penalties from HMRC. If you have any queries, don’t hesitate to contact Tax Care Accountants via …

Contact TaxCare today to get free payroll advice.

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