VAT Return

Value Added Tax (VAT) is one of the most complex taxes in the UK tax regime, it has many different rules for different sectors. So it is very important to assess the relevant rules to your specific business activities, to ensure full compliance. The certain business may only provide VAT exempted supplies, in which case are not allowed for VAT registration. More complex matters could arise if there’s a partial exemption and group VAT involved. There are also different VAT schemes suitable for different sizes of businesses.

Our VAT registration service will always conduct a VAT assessment to identify the best suitable VAT scheme for your business.
In terms of ongoing VAT compliance, our VAT team will help review and validate your bookkeeping record, and then submit it before the VAT filing deadline. The filing frequency could be monthly, quarterly, or annually depending on the scheme registered.

Payroll Services

Most businesses, whether it’s incorporated businesses (i.e. companies) or non-incorporated businesses such as Sole Trader and Partnership, may need to employ people to help run the business. In the UK, before you can start paying employees, your business needs to register PAYE and Workplace Pension at first, then process the employees’ payslips prior to making the payment to the employees. Regular reporting need to be submitted to HMRC and Pension Regulator on Real Time Information (RTI) basis.

Statutory Accounts

In the UK, for a Limited company, the annual accounts need to be filed to Companies House within 9 months after the financial year-end. And the full accounts also need to be submitted to HMRC together with the Corporation Tax return.

For sole traders and Partnerships, the annual accounts will need to be prepared prior to calculating the tax payable amount after each tax year-end.

We can prepare the Statutory Accounts based on the bookkeeping record you provide to us, or alternatively, we can conduct the bookkeeping based on the supporting documents you provide to us.

Corporation Tax Retun

For UK companies, the Corporation Tax return needs to be provided within 12 months after the financial year-end. The UK is a jurisdiction with a lot of different tax reliefs to support the start-up businesses, once the statutory accounts become available, our year-end tax service will ensure all possible available tax reliefs have been looked into, to achieve tax efficiency while meeting the full compliance requirement.

Personal Tax (Self-Assessment)

In the UK, the tax year for an individual (self-employed), sole trader (non-incorporated businesses), and partnerships runs from 6th April to 5th April. The self-assessment (personal tax return) needs to be submitted to HMRC by 31 Oct if filed via post, or by 31st Jan following year if filed electronically.

Our fee for the self-assessment varies depending on the complexity of your total income structure. Please reach us at tax@stfaccounting.com if you want to discuss this further.