Below are some of our most frequently asked questions. Please contact us if you need further information.
Can you help us register as a limited company?
Yes we can! If you are doing business with us, we will register your business as a limited company for free.
When you start a new business it is common for the company to not make much due to overheads, and the tax people understand that provided you have the financial records to show it - and as your accountant we can help with this. We will ensure you only pay a fair amount of corporation tax relative to how well the business is doing.
Do I need to register for VAT?
If your annual taxable sales are under £82,000 you are not required to register for VAT, however you can choose to do so if you wish. Many of our Gant Accountancy Services companies have taxable sales under £82,000, and in many cases it makes sense for them not to register, however this is not always true.
Can you help me start my business?
If you are beginning in business or have a startup company we can help. We can give you the financial advice you need to ensure you are meeting your tax obligations and the tax inspector will be happy with your books.
I need help writing a business plan, do you provide this service?
A business plan needs to demonstrate that your business will be successful. The sort of things you will need to include are: am I competent in the area of business? What equipment do I need and how much will it cost to buy? Is the business area lucrative - is it going to make me money? Is the geographical location right?
We can help put your plan together and show how to demonstrate the figures for income and expenditure will make a good profit.
Do you help with property/rental tax?
If you have property you are renting out while still being employed, then you might get a personal tax return. In this case the accountant can help you identify all the costs such as for repairs and the cost of travelling to visit the property and these expenses can be used to offset the profit from the rent and at the end of the tax year you can still get money back on tax paid.
If you don't declare your income from renting property you will be found out - HMRC are now able to check with the land registry and you might find if you have not been paying tax that you suddenly have a bill for the last four years of unpaid tax, so it pays to do it properly.