Additional services we offer;
Self Assessment is the method by which HMRC will collect your tax liabilities as an individual or partnership as the tax year ends on 5th April each year a return along with your liabilities has to be filed and paid by 31st January the following year. This can also relate to Directors, Partnerships, Property income and Capital Gains.
Individual property owners are required to complete accounts for the properties they own. Changes in legislation from April 2020 mean that interest on mortgages is now treated differently than before this along with what are allowable property deductions mean that completing the return can be complicated, at Optimal Accountancy Limited we can assist with these matters when required.
Many of our clients in the categories above take advantage of our monthly standing Order payment scheme, which has no hidden charges, please feel free to call a member of our team to discuss this option.
Construction Industry Scheme (CIS)
The CIS scheme is a tax where monies are deducted from a sub contractors payments and sent to HMRC, these are advance payments of tax for the purposes and National Insurance and tax for sub-contractors. Main contractors are obliged to make regular declarations and payments to HMRC for payments deducted within specific time frames. At Optimal Accountancy our specialist team can assist in the preparation of these returns as well as assisting in any reclaims on behalf of sub-contractors.
Capital Gains tax is payable on the profit on an asset that has been sold. This means that any increase in asset value during the time you own it is taxable.
Capital Gains can be payable on disposals and in some cases gifts.
Tax reliefs are available on disposal of assets for more information please feel free to call us.
Full circle accountancy support for your needs
If you'd like to speak to us about any of the above services, click the button to get in touch today.