Tax & VAT

We love Tax and VAT at First Call Financials! That might sound a little unusual, but it’s true and the reason is that we really understand it.

We offer tax advice and tax planning strategies for businesses across Bristol and Gloucestershire covering VAT, Capital Gains Tax, Business Income Tax, Corporation Tax and Personal Income Tax. Each of these demands individual knowledge and expertise, as any errors can incur huge penalties and interest charges.

The following are just some of the ways we can help different types of businesses with their taxation and VAT decisions:

New Businesses

  • Making sure they understand the tax implications of the different types of business structure and what would be best; whether they should be self employed, a partnership, limited liability partnership or limited company
  • How to get funding through tax efficient borrowing
  • Whether the business should register for VAT
  • Working out the best end of year strategy
  • Ensuring they register correctly with HMRC for Tax, NI and VAT as applicable

Businesses employing people or about to start

  • Working out the most tax efficient way to employ staff; on contract, full or part time, apprenticeships
  • Understanding the self-employment v employment rules under IR35
  • Helping to set up PAYE schemes and registering the business with HMRC as an employer
  • Help and advice with payroll processing
  • Utilising tax and NI allowances such as the new Employment Allowance or NI Scheme for under 21’s
  • Understanding the tax implications of Childcare Vouchers, Company Pensions and other benefits in kind

Self Employed and Sole Traders

  • Ensuring they make the most of allowances and deductible expenses
  • Assistance with completion and production of self-assessment tax returns
  • Making sure they don’t fall foul of the requirements of IR35
  • Reducing payments on account to HMRC

Growing Businesses

  • Maximising the use of relevant capital allowances (AIA, ECA or WDA)
  • Obtaining tax relief on research and development expenditure

Owner Managed Businesses

  • Tax efficient ways of extracting profits from a business by using benefits to save income tax and also reduce NIC liabilities
  • Increasing net income of the owner / director
  • Helping business owners to plan and implement tax efficient exit strategies

Need a hand?

Whatever type of business you run, If you need advice with any tax or VAT issue or for assistance with tax planning for your business contact the team at First Call on 0117 379 0810