t: 01539 722289 I e: info@dixongibbsltd.co.uk
OUR SERVICES
Self Assessment Tax & Corporation Tax
Required to submit a self-assessment tax return to HMRC?
Common triggers include being self-employed, a company director, earning £150,000+ as an employee or pensioner, receiving £10,000+ in pre-tax investment income, or being a landlord.
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At Dixon Gibbs Ltd, we take the pressure of filing away from you and provide you with the following:
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Advice on the taxes you need to pay, when and how
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Preparation of your personal or Corporation tax return accurately and to submit this on time to avoid any HMRC penalties
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Identify allowances and reliefs, so when your tax bill is due, you can sleep easy knowing you are paying the right amount of tax
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Identify any tax planning opportunities available to you
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Deal with HMRC on your behalf
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If you fall into any of these categories or have been managing self-assessments for years, contact us to discuss your needs and arrange a complimentary 30 minute consultation to discuss your taxation needs.
Accountancy
Preparing statutory financial accounts is compulsory for Limited Companies and must be prepared in line with IFRS standards. But for sole traders these are not a legal requirement, however, they can be extremely valuable when assessing your financial performance and profitability of the business along with aiding the completion of the Self Assessment return.
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At Dixon Gibbs Ltd, we understand the importance of accurately recording this information in a timely and efficient manner enabling you to concentrate on doing what you do best, run your business.
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Self Employed
Financial accounts are prepared to assist with the completion of the Self Assessment return for both Sole Traders and Partnerships and for management purposes.
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Limited Companies
Final accounts are prepared for the Company's Shareholders and to be filed with HMRC and Companies House. We ensure these are prepared in the correct format and are delivered on time.
We also understand the importance of reflecting on past performance to strategically plan for the future. To achieve this, we ensure your accounts are clear, comprehensible, and presented in a way that's easy to understand and act upon.
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Bookkeeping including VAT & MTD
Maximise the efficiency and compliance of your business with our comprehensive Bookkeeping and VAT services at Dixon Gibbs Ltd.
Whether you require monthly or quarterly bookkeeping, we are here to maintain your financial records accurately, providing you with management reports that offer real-time insights into your financial status.
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Understanding VAT can be complex, but our expertise in VAT planning and administration simplifies this process, helping you navigate the intricacies with ease.
We provide the following Bookkeeping and MTD services which can be provided as a package or as a stand alone service:
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Record accounting data from your raw data, including bank statements and invoices etc
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Identify the most suitable VAT scheme for your business, e.g Cash Accounting or Flat rate schemes etc
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Assisting with registration & deregistration and whether it would be beneficial for you to register voluntarily
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Prepare and submit accurate and timely VAT returns on your behalf
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Ensure VAT returns are compliant with Making Tax Digital (MTD) regulations
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Training for you to complete these yourself either on your own software or by using our software offered to you to use for free
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VAT health checks to check previous VAT returns submitted to identify any VAT savings or to identify and correct any errors before HMRC becomes aware of them which will mitigate penalties
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Assist with any VAT inspections and deal with any disputes that arise with Customs
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With Dixon Gibbs Ltd, gain a partner who not only manages your bookkeeping and VAT needs but also empowers your business towards sustainable growth and compliance.
Let us take on the financial intricacies, so you can focus on what you do best – growing your business.
Payroll & Pensions
Paying your employees is a vital task and must be done correctly. As is deducting the correct amount of Pension contributions and keeping up to date with Auto-enrolment issues.
Let us take the strain away from you and let you get on with running and growing the business. Payroll and pensions are complicated and have to be done on time and you, as the employer, are responsible for any mistakes.
We run payrolls on time and can provide a tailor made service for your business including...
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Employee payslips
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Monthly summaries
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Departmental reports
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Dealing with leavers and starters
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Provision of analysis of staff costs
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Real Time Information (RTI) PAYE returns for the Revenue
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Pension contribution data for filing with your pension company either by yourself or through us
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Filing on your behalf to the The Pensions Regulator for any compliance declarations
You will never have to worry about calculating statutory sick pay or maternity pay or deal with student loan deductions ever again!
And what about the payroll year end I hear you say...?
We produce...
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Employee summary P60s
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P11D benefit and expenses returns
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And the related tax planning advice...
Beyond the payroll compliance service, we offer comprehensive advice on all employment tax issues including...
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Tax efficient remuneration strategies
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Planning for retirement
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Termination payments
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Inducement payments
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Company car and van strategies
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Benefits planning
Capital Gains Tax (CGT)
Capital Gains Tax (CGT) is as the name suggests, Tax on any profit you have made from the sale or disposal of a capital asset.
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This includes transactions involving investments or property, as well as a broader range of activities such as the gifting of assets.
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Here's what you should keep in mind:
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Capital gains events, such as the sale of investments or property, might not happen often and can be easy to miss. However, it's crucial to report most of these gains on your self-assessment tax return.
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When selling a residential property in the UK, you must report and pay any Capital Gains Tax (CGT) owed within 60 days after the sale is complete. To avoid potential penalties and interest charges, make sure to check your CGT obligations before selling.
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If you're giving away a capital asset, you'll be considered to have sold it at its market value, which could result in a tax bill, even if you didn't receive any payment for it.
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Reporting a loss from selling an asset can be beneficial too. It allows you to document the loss, which you might be able to use to reduce your tax liability in the future.
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Not every disposal or sale will result in a CGT bill, as some assets are exempt altogether and the transfer of assets between spouses who are living together and gifts to charities are usually tax free.
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Calculating your capital gain can be tricky, but we're here to remove the stress of making mistakes. We'll also guide you through meeting your reporting requirements to avoid any fines or interest charges.
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By informing us about your transactions early in the planning process, you can maintain control and potentially reduce the tax you owe. With our assistance, you'll ensure that you pay only the necessary tax and take full advantage of any reliefs you're eligible for.
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Company Formations and Secretarial Services
Taking the leap to form a company is a significant milestone with various pros and cons to weigh, making the advice of a qualified accountant crucial for any business owner contemplating this step.
Opting for a Limited company structure brings its own set of challenges and decisions during the formation and registration process, where we can provide expert guidance to smoothly navigate this complex terrain.
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Once your company is operational, our support can adapt to your needs, ranging from preparing annual statutory accounts and corporation tax returns to offering an all-encompassing package that includes regular payroll (with CIS administration if needed), annual return submission, company secretarial services and comprehensive bookkeeping services.
We can help you fulfill this role and offer the following services:
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Registered office address facilities
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Maintenance of necessary statutory registers
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Submission of statutory documents to Companies House
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Giving notice of General Meetings
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Drafting agendas for company meetings
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Preparing Minutes of Meetings
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Completion of share transfer forms
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Preparation of share certificates
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Filing of Confirmation Statement