Personal tax advice

As an individual, there are several ways in which you may have to pay tax: on your income, on investments growth, on some savings interest, and on assets you inherit. Whether you have to pay tax, and how much, can depend on a number of circumstances, so it is not always easy to work out what you owe. This means running the risk of either paying too little (and getting into trouble with HMRC) or paying too much, and losing money you could have kept.

If you run a business, do freelance, or contract work, or have multiple sources of income, then you will need to complete a self-assessment tax return. Personal tax planning advice can help you ensure that you complete your self-assessment accurately (thus avoiding heavy penalties from HMRC) while ensuring you do not pay more tax than you are legally obliged to. Personal tax planning advice will alert you to all the allowances, reliefs, and expenses you can claim, and ensure that you do not lose money unnecessarily. It can also save you a great deal of time and effort.

Corporate tax advice

As soon as they are incorporated, all new companies and their directors are under a range of basic record-keeping, disclosure and filing obligations. In many cases, failure to meet your legal obligations is a criminal offence and both your company and its directors could be fined by Companies House. What is more, if you do not get your house in order from day one, you could damage your company's credibility with potential lenders, investors or buyers later down the line.

Hiring a good accountant can add real value to your business. Not only will they help you manage your accounts, but they will also help you to make better business decisions, help your company grow, legally minimise your tax bill, and, of course, save you lots of time on admin.

How can Motabar Accountancy help

We carry a wealth of knowledge gained from working with clients in different industries. We have seen most of the problems and challenges that you may encounter. As a result, we can provide an unbiased sounding-board for your ideas, warn you of potential risks and alert you to opportunities. Our offices have dedicated teams of highly qualified and experienced business advisors and tax specialists. They work together to provide proactive, well rounded, technically robust advice at all stages of a business' life cycle – from incorporation, right through to exit.