Income Tax

Each year Maccallum Slator will review your taxation affairs and provide practical and commercial advice to save you tax.

Our tax services include:

• Preparation of corporate tax computations and returns taking care to include all tax saving opportunities.
• Preparation and electronic submission of self assessment tax returns for company directors, partnerships, sole traders and high net worth individuals.
• Dealing with all correspondence with HM Revenue & Customs in a timely and efficient manner.
• General inheritance tax and capital gains tax advice.

VAT

Our objective is to assist you with the smooth running of your businesses. We offer a wide range of services in respect of preparing VAT returns. From the simple organisation of sales and purchase invoices to more a more in depth service of providing management accounts each quarter.
Preparation and completion of VAT returns.
Advising on registration and deregistration.
Advising on appropriate VAT schemes such as the flat rate.

Payroll

Our skilled payroll team is practiced in processing payroll in an accurate, timely and cost effective manner. We aim to make the payroll side of your business as hassle free as possible supplying you with payslips and calculating the amount of tax and national insurance due. We are adept at processing payroll on weekly, fortnightly or monthly intervals.

Our payroll services include:

• Dealing with new employees and ensuring that the correct PAYE code is applied.
• Processing attachment of earnings claims, student loan and other deductions.
• Issuing P45s for leavers and corresponding with HM Revenue and Customs.
• Preparation of annual end of year certificates (P60) and online submission of employers annual return form (P35).
• Preparation of benefit in kind forms (P11d) including calculation of Class 1a national insurance.

Capital Gains Tax

There are a variety of relief’s available to limiting any capital gains liability, along with simple techniques like the spreading the timing of disposals over tax years to utilise your annual exemptions effectively and sharing assets with a spouse.

We ask our clients to always inform us of any capital transactions that they are considering in advance in order that we can give them the best possible advice.

Inheritance Tax

Planning is essential to reducing your potential inheritance tax position. With knowledge of your personal circumstances and objectives we can help you to minimise any tax payable, whilst helping you to achieve your aims.

Pay No Tax

Is this possible? Well surprisingly yes it is. Here are some real examples and they are all legal.
A self employed professional earns £100,000 a year, works and resides in the UK and in 2007/08 paid no income tax at all.

A lorry driver who has his own business earns £50,000 a year, buys a new lorry in 2008/09 and will then be able to claim tax credits of almost £20,000 (that is real money coming back).

A couple who own a business decide to retire and sell the business for over £1million and pay no capital gains tax at all in the 2008/09 tax year.

A very successful business owner who has accumulated assets of over £10million decides to organise his financial affairs to minimise Inheritance Tax so that on death his estate will pay no Inheritance Tax at all.
All of these examples are real and achievable but require planning in advance.