Hassle-Free Compliance with JSR Management HMRC is changing how sole traders and landlords report their income. Making Tax Digital for Income Tax (MTD ITSA) will replace the traditional Self Assessment tax return with quarterly reporting and digital record keeping. For many business owners this is
Bean counters, Number crunchers, call them what you will, a good bookkeeper is worth their weight in gold.
Let us process your bookkeeping while you concentrate on winning the next contract.
Do you need them?
The simple answer is “yes you do”! But why?
You may find putting together sole trader accounts daunting and time-consuming, but we don’t!
Earning income from property in the UK comes with important tax responsibilities. Whether you’re letting out a single buy-to-let, renting a room in your home, or managing a growing property portfolio, you must declare your rental income correctly to HMRC. At JSR, we specialise in
What’s in a name?
Do I need to be incorporated?
What is the difference between being incorporated against being unincorporated?
What tax savings could you gain?
“Statutory Accounts, Turnover, Gross Profit, Net Profit” what does it all mean?
When you review and then sign your accounts off do you know what you are signing, do you understand the underlying figures?
Are you considering a partnership or are you already set up as a partnership?
Do you know what the legal requirement for being a partnership are, or how partnerships are taxed?
Is a partnership or LLP the correct vehicle for your business, have you considered or discussed other options?
Do you know how to Register as a Contractor or Subcontractor?
Are you worried about claiming back CIS suffered by your business or Verification of Subcontractors and completion of CIS300 monthly returns?
Is your Turnover hitting the VAT threshold? Do you know what that is, and how to apply the historical or future tests?
Making Tax Digital – a must for all VAT registered businesses from April 2021
Has your business used the Government Deferral Scheme initiative – do you know when and how you should make payment of this liability?
Tax doesn’t have to be taxing!
In this climate of economic uncertainty sound tax planning is paramount.