Making Tax Digital
In April 2019 the government introduced Making Tax Digital, which was aimed to make it easier for taxpayers to stay on top of their tax affairs.
Making Tax Digital will apply to VAT registered businesses with a turnover above the VAT threshold which is currently set at £85,000. The new system requires that tax records be maintained and submitted to HMRC digitally.
Making Tax Digital (MTD) - call free on 0808 169 9090
We are fully up to speed with the new requirements of Making Tax Digital here at Equatas. Our team can assist you and your business in compiling all the relevant information required to prepare your tax return, and we have the required software to submit your completed tax return to HMRC under the new Making Tax Digital guidelines.
Our experienced team assist businesses of all sizes across a wide range of sectors including:
- Professionals
- Medical
- Agricultural
- Retail
- Construction
- Manufacturing/Engineering
- Marketing/Advertising
- IT
We also assisted businesses who took part in the VAT pilot which opened in October 2018, particularly where errors had occurred.
Our aim is to take the hassle out of managing your tax affairs so you can focus on the running of your business.
Digital Tax Returns
HMRC has invested heavily in Making Tax Digital with the aim of becoming one of the most digitally advanced tax administrations in the world. The system is designed to be more efficient and easier for taxpayers to get their tax right.
Making Tax Digital applies to VAT registered businesses with a turnover above the VAT threshold.
If you would like to discuss your tax affairs with a member of our experienced team, or have any questions about Making Tax Digital generally, we are happy to help.
To hear more about our services or to discuss your specific requirements with a member of our team call 0808 169 9090
Alternatively you can send an email to enquiries@equatas.co.uk
or fill out an Enquiry Form
and a member of our team will contact you at the earliest possible convenience.
Forths Tax / Forths Accountants becomes Equatas Accountants. Forths Tax / Forths Accountants is delighted to announce that with effect from 1st April 2022, the business has rebranded to Equatas Accountants. As you may be aware, in July 2020, the wider business behind Forths Tax / Forth Accountants was acquired by the listed FCA regulated company, Frenkel Topping Group (‘FTG’) as part of their significant expansion plans. At the date of acquisition FTG already had it’s own small general practice and the rebranding of Forths Tax / Forths Accountants to Equatas Accountants simply serves to bring all of our general practice tax and accountancy services under one roof. From a practical perspective the rebrand will have no impact on our offering and the quality of the service that all clients receive. However, in line with FTG’s own expansion plans, there are also significant growth plans in the pipeline for Equatas Accountants, as we set about widening the services that we can offer to our clients and also investing heavily in various cutting-edge technologies so that we can offer market leading services in the most efficient way. In addition, it is important to note that as Equatas Accountants is a part of FTG, you also now have access to the full range of financial services that FTG provide as Independent Financial Advisers, from the obvious pensions and investment advice to (perhaps less obviously) advice on a variety of different insurance policies. Yours Sincerely, The Equatas Team
There are things you can do to give your business the best chance of survival and success, during and after the pandemic. These steps often go hand-in-hand with the services and advice of an accountant. A key to staying on top of your business’ financial affairs is knowing exactly where you stand. This means knowing your business’ cash flow, as well as upcoming and future tax liabilities. We can provide you with the information to plan and make proactive decisions by preparing your accounts and tax returns. Lockdown is the perfect time to sort out business records and get your accounts up-to-date. As tax advisers and accountants, we regularly contact our clients with updates of any government measures or news that we think may be relevant to them individually. This includes talking to clients about the Bounce Back Loan Scheme which will provide a vital lifeline to many businesses over the coming months. The self-employed, partnerships and companies can all apply for this loan up to a maximum of £50,000. Even if your business does not currently need this loan, it may be worth discussing whether it will be needed in the future, as the knock-on effects of the pandemic on business are uncertain. For clients with employees, we are calculating and submitting furlough claims on their behalf, as well as processing their payroll. We are helping our clients identify which tax payments can be reduced or deferred to support their cashflow over the coming months. We also keep everyone informed of deadlines so that they do not fall behind. All of us at Forths Tax are fully contactable and providing our services as normal via email, over the phone, and through the post. We are also able to speak to you through Zoom, WhatsApp, or Facetime if you prefer. If you are local to Leeds or Manchester and would prefer to drop off your business records, we can arrange a time to meet you at our offices whilst maintaining social distancing. If you would like to speak to us about how we can help you, please call us on 0808 169 9090 or fill out an Enquiry Form and we will contact you directly to discuss your circumstances.
Individuals are quite rightly constantly looking for ways to mitigate their tax position and legitimately minimise what they have to pay to HMRC. The key to this sentence is clearly the word legitimate. In May 2020, the press reported the criminal prosecution of former HMRC employee, Martyn Arthur, for submitting inaccurate tax returns and cheating the public purse out of £120,000, who in 2009 published a book entitled ‘The Taxpayer Strikes Back’ about how to stand up to HMRC. Ironically, it would appear as though he has failed to heed his own advice. Obviously, simply not declaring your legitimate taxable income is not a plausible tax planning strategy and we would certainly not want any of our clients to be in the same position as Mr Arthur. We recognise, however, that there are numerous different ways that individuals can find themselves in a position where they have an issue with HMRC that will be causing them stress and anxiety. Our unequivocal recommendation when individuals find themselves in this position is to contact an appropriately qualified and experienced tax investigation specialist to guide them through what may seem like a maze. A tax investigation specialist with an in depth knowledge of the relevant process will robustly present the tax payers position from a technical perspective and also provide assurance that all features of their case have been properly considered. Further information about our specialist tax investigation and disclosures services are available on www.taxdisclosures.co.uk We provide both tax planning and tax investigation services. To discuss your circumstances, call us on 0808 169 9090 or fill out an Enquiry Form and we will contact you directly.
Contact us today to find out how we can assist you...
To hear more about our services or to discuss your circumstances with a member of our team, call us on 0808 169 9090.
Alternatively, you can email us at
enquiries@equatas.co.uk
or fill out an Enquiry Form
and we will contact you directly.