Tax compliance
The growing number of changing regulations and rules surrounding tax make it a very complicated area which many organisations and individuals are finding increasingly difficult to manage. This is where Jomma Financial Ltd can help.
Many businesses and individuals could benefit from the expert knowledge and services provided by our team of tax advisors who offer a comprehensive and professional service that takes all aspects of your tax position into account.
At Jomma Financial Ltd, we do much more than simply filling in your tax return and processing it, we look at the bigger picture and offer tailored tax advice based on our understanding of the issues you face.
We can provide the advice and expertise to help you meet all your tax compliance needs, including:
- Personal Income Tax return preparation and filing service
- Income tax planning
- Personal tax planning
- VAT
We can help you make the most of the tax-saving opportunities available to you whilst ensuring you remain fully compliant and up to date with the very latest regulatory changes.
VAT
VAT
VAT has implications for many businesses. This complex, ever-changing tax is so challenging that many businesses unintentionally overpay or underpay VAT. Indeed, apparently similar transactions can produce widely different VAT outcomes for different types of business.
So dealing with VAT issues can divert valuable resources within any business that could be used more usefully elsewhere.
At Jomma Financial Ltd , we provide both general and specific advice on VAT issues, to keep businesses compliant with VAT regulations and prevent them paying more tax than is necessary.
We can advise on the VAT implications of everyday business deals, as well as more unusual transactions and property deals, to ensure that businesses comply with ever-changing regulations. Our VAT services also include registration and preparation of returns.
For more information on our tax services, please contact Lamin Fatty.
Alternatively, find out about how we can help your business plan for a tax efficient future with our range of wealth management services including corporation tax planning and inheritance tax planning.
Corperation Tax Planning
Corporation tax planning
At Jomma Financial Ltd , we understand that tax is a significant issue for any business. While it is crucial to stay compliant with HM Revenue & Customs (HMRC), no business wants to pay more tax than necessary.
Therefore, we will use our expertise to deal with tax compliance issues, including the preparation and submission of partnership and corporation tax returns that meet all the regulatory requirements.
When preparing a business’s returns, we will also make the best use of all the allowances and reliefs available to minimise the tax bills and will handle any HMRC queries and correspondence, quickly and efficiently, so that owners and managers can concentrate on running the business.
We also offer expert tax advice to make sure that businesses are operating in the most tax-efficient way and to maximise the tax benefits of corporate transactions.
The expert tax advice we offer helps to ensure that businesses are operating in the most tax-efficient way and to maximise the tax benefits of corporate transactions.
For more information on our tax services,
Businesses may also benefit from our additional services which including wealth management and lifestyle services which focus on helping them plan effectively for a more secure future.
Taxation
As tax advisers, our objective is to work closely with you to ensure you pay the minimum tax required by law. We will help you to understand the tax implications of your actions, in order that you can plan ahead and conduct your affairs in a tax efficient way.
Corporation tax services
Under Corporation Tax Self Assessment (CTSA), the legal responsibility for correctly calculating the corporation tax liability falls on business owners. We understand the issues facing owner-managed businesses and can prepare tax returns in a timely and efficient manner. We will also calculate your company’s tax liability and assist with the calculation of any quarterly instalment payments due.
The increased reporting obligations, investigation policies on the part of the tax authorities and harsher penalties for non-compliance mean that your time and resources can be taken up with tax administration. We will help to minimise corporate tax exposure and relieve the administrative burden of compliance with current tax legislation. Effective corporate tax planning can also result in significant improvements in your bottom line.
Personal tax services (including sole-traders and partnerships)
We are specialists in income tax, capital gains tax and inheritance tax.
Self assessment
We have the expertise and software to take the headache out of the form filling and compliance aspect of self assessment. We can provide you with practical advice on personal tax and the planning opportunities available to you. Over recent years HMRC have increased the penalties for failing to file a return on time and for errors. We can complete tax returns, calculate any tax liability and advise you on exactly when to make payments and how much to pay.
Personal tax planning
Everyone who is subject to taxation needs professional advice and support if they are to optimise their tax position and ensure they meet the compliance requirements. Our specialist tax team can provide you with year-round advice on all aspects of personal taxation.
Estate planning
Few of us like to think about dying; however the relevant legislation requires us to plan well in advance. This means making the necessary provisions now. There are many tax opportunities available and the earlier arrangements are made, the greater the chance of taking full advantage of our complicated tax system.
It is important when planning to transfer an estate that adequate provision is made and getting the right balance requires considerable skill and foresight – along with a detailed knowledge of the current tax regime. We provide a discreet comprehensive estate planning service that includes:
help with planning and reviewing a will
making full use of exemptions and lower tax rates on lifetime transfers
optimising lifetime transfers between family members
transferring agricultural or business property
transferring assets into trust
arranging adequate life assurance to cover potential inheritance tax liabilities.
Trusts
We also have expertise in dealing with trusts; a very tax efficient way to set aside assets for future beneficiaries outside the inheritance tax net. We can advise on the most suitable type of trust to fulfil your wishes, assist in setting up the trust and provide the full range of accounting services required for trust management.
VAT
Ever changing regulations and the growing demands of HMRC mean VAT compliance can be a difficult administrative process. We can help to ensure that you comply with the regulations and that overpayments are not made. To help you manage this complex area, we provide an efficient, cost-effective VAT service, which includes:
assistance with VAT registration
advice on VAT planning and administration
use of the most appropriate scheme
VAT control and reconciliation
help with completing VAT returns
planning to minimise future problems with HMRC
negotiating with HMRC in disputes and representing you at VAT tribunals if necessary.
HMRC Investigations and Enquiries
Being the subject of a tax investigation or enquiry by HMRC can be a stressful and worrying experience. We have a wealth of experience in dealing with HMRC investigations, whether they are enquiries into an individual’s Tax Return, more detailed enquiries into a company’s affairs or employer-related investigations into PAYE and P11d compliance. If you are the subject of an investigation, we can provide expert help and support.