Returns

Understand how to manage your taxes regarding income tax, inheritance tax, capital gains and trusts.

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Taxation

At Xenith our qualified accountants can help you understand how to manage your taxes regarding income tax, inheritance tax, capital gains and trusts. Tax services also include the preparation of tax returns and submitting them to HMRC on your behalf. A good personal tax accountant will also discuss tax liabilities so that you can benefit from any claims available.

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Provisional and annual income tax returns

A tax accountant can help you understand how to manage your taxes. Tax services also include the preparation of tax returns and submitting them to HMRC on your behalf. A good personal tax accountant will also discuss tax liabilities so that you can benefit from any claims available.

Who we help

We provide Specialist tax advice and ongoing tax consulting with regards to Income Tax Returns submission to HMRC for all the following:

01

Companies

02

Individuals

03

Trusts

04

Partnerships

For Registered VAT Vendors we will

Prepare and submit VAT returns based on vendor’s  
VAT Registration/ De-registration consulting
VAT Reconciliation
Assistance with VAT Audits
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Withholding Tax

According to HMRC “you must keep your tax records for at least 5 years after the 31st January submission deadline of the relevant tax year. HMRC may check your records to make sure you’re paying the right amount of tax."

Withholding Tax Includes tax on:
● Royalties
● Interest
● Dividends

We will complete and submit the appropriate disclosure/return, depending on the Taxation applicable.

About our pricing

Compliance

Your dedicated accountant will produce the necessary returns applicable to your company in order to comply with all regulatory and statutory requirements. Completing monthly/annual returns is a complex task, so we’re here to simplify the process for you! The accurate figures we produce will enable you to make insightful business decisions.

Fixed fees

Fixed fees for all once-off services. All returns are fully included in monthly packages. Please contact us for a detailed break-down of all services offered.

Tax efficiency reviews

Your dedicated bookkeeper will conduct regular tax efficiency reviews, ensuring you’re claiming everything you could be and operating in the most efficient way possible.

FAQs

When is Corporation Tax due?

Corporation tax is due for payment 9 months and 1 day after the accounting period end. If the accounting period is a full year this will be 9 months and 1 day from the year end but earlier dates will apply if the financial year is longer than 365 days, typically in the first year.

Who is liable for provisional tax?

Any person who receives income (or to whom income accrues) other than a salary, advance or allowance, is a provisional taxpayer and should register for provisional tax. Provisional tax is not a separate tax from income tax.

How does withholding tax work in the UK?

The UK imposes a 20% withholding tax on non-residents who receive certain interest payments, rents or royalties from the UK.

What is the threshold for VAT?

The VAT registration and deregistration thresholds will not change for 2 years from 1 April 2022. The taxable turnover threshold, which determines whether a person must be registered for VAT, will remain at £85,000 until 31 March 2024.

What is the purpose of provisional tax?

The purpose of provisional tax is to allow a taxpayer to pay income tax during the tax year in which the income is earned. By paying the amounts due in terms of the provisional tax liability, the taxpayer will prevent large amounts of tax due on assessment, as the tax load is spread over the relevant year of assessment.