Tax Accountants

Expert Tax Accountants

Knowing how much money to set aside for tax and what taxes you are liable for can be very confusing for business owners.

As Chartered Accountants in London, you can rely on our team to advise on company tax, personal tax and R&D Tax credits whilst ensuring that you stay compliant with HMRC and tax deadlines. We can register your business for all the applicable taxes as part of our company formation service and take care of all tax filings.

Small Business Environment
Business Meeting

Corporation Tax

Put simply, corporation tax is the tax that limited companies pay on their profits. As part of our service, we can register your company for corporation tax as well as prepare and file your corporation tax return which is usually due 12 months after the end of your company’s accounting period. We can also help with minimising your corporation tax liability by offering advice on tax-deductible expenses, purchases and R&D tax credits.

VAT (Value Added Tax)

If your business has a VAT taxable turnover over £85,000, it is required to be VAT registered. Once registered your business must charge VAT on its invoices, pay any VAT due and file a quarterly VAT return digitally. There are two VAT scheme, the Flat Rate Scheme and the Standard Scheme.

We can help with registering your business for the most suitable VAT scheme and ensure that your VAT returns are Making Tax Digital compliant. If you are still working with spreadsheets then you should consider switching to us.

Frequently Asked Questions
We find it helpful to answer some questions up front. For further information simply fill in our contact form or give us a call.
What is the difference between accountants and chartered accountants?
Although unqualified accountants are subject to the same laws as chartered accountants, ICAEW Chartered Accountants are bound by their Code of Ethics and subject to their disciplinary procedures. TWB are Chartered Accountants.
Can I switch from my current accountant if they do not use Xero ?
We can migrate you from a different accounting software or advise on how to manage the migration process. We will also write to your current accountant for professional clearance.
Which online accounting software do you recommend?
Depending on the type and size of your business we will recommend the best software to suits your needs.
Are there any other costs that I should be aware of?
It depends on your current situation and if there are any extra services you require. Please get in touch to discuss your requirements further.

Contact Us

Self employed person

R&D Tax Credits

If you are a UK company that is investing in innovative new products or services, then you may qualify for corporation tax relief. R&D Tax Credits exist to reward businesses that invest in innovation and can be also claimed where projects have been unsuccessful.

There is a vast amount of criteria that needs to be met in order to make a claim and it is not as straightforward as it may seem. We will take a detailed look at your qualifying activity and expenses and put together a maximised claim. We take a tailored approach to accounting and tax, contact us to learn more about how R&D Tax Credits work.

Capital Gains Tax

Have you recently sold a property or transferred assets? You may be liable for capital gains tax. Capital gains tax is calculated on the increased value of the asset, not the total amount of money you receive.

You will only pay Capital gains tax on gains above your tax-free allowance in a particular tax year. In the 2019/2020 tax year the tax-free allowance for capital gains is £12,000.

Red house
Software Development

Self Assessment Tax

If you are self-employed and received untaxed income or a director of a limited company, you are responsible to file a self assessment and pay the tax that is due on the income earned. The UK tax year runs from 6th April to the following 5th April.

Self-assessments are due nine months after the tax year has ended, although we never recommend to leave it until the 31st January. As expert tax accountants, we can help ensure that you are aware in advance of how much money to set aside to meet your personal tax obligation and take care of the self-assessment filing.

Why TWB?

We get to know you: We’ll learn about your business and understand the industry it operates in, ensuring we always meet your expectations and deliver the best accountancy support possible.

We take care of the numbers: You’ll no longer need to worry about sorting out tax bills and financial compliance for your business – from now on, we’ll take care of it all for you!

Great advice: Peace of mind is what we offer, knowing that you have the right adviser onboard pays dividends.

Market-leading accounting software: As part of our accounting service, we provide access to Xero accounting software and provide training.

Business Growth

Speak to the tax experts

Get in touch today to find out more about our services and how we can help with your accounting needs.