Welcome to
Tax Accountant Solihull

When starting a home-run e-commerce craft business in Solihull, we would first look at whether operating as a sole trader or through a limited company is more tax efficient based on your specific circumstances and forecasts. We’ll also advise you on VAT registration requirements, setting up a dedicated business bank account, record keeping with proper invoices and using an appropriate accounting software package. As your business grows, we can assist you in taking on employees from a payroll tax compliance perspective. We aim to get your Solihull home business established on the right tax footing from day one.

Running a courier or delivery business from Solihull with your own vehicle carries a range of allowable tax deductions we can fully utilise. This includes business mileage claims at HMRC approved rates and a proportion of vehicle running costs for insurance, repairs, servicing, breakdown cover and motor finance interest. We can also explore tax-efficient options like electric vehicles and advise on detailed record keeping requirements and profit extraction strategies. Our goal is to maximise your allowable deductions and tax efficiency as a Solihull motor-based sole trader.

The key allowable expenses contractors working in Solihull can claim include: computer equipment, phone and broadband costs, home office utilities, professional subscriptions, training courses, mileage to temporary workplaces, overnight stays on client sites, advertising and marketing fees and accountancy fees. Keeping detailed records is crucial, so we maintain itemised expense claims you can fully evidence to HMRC if required. Our expertise and review ensures you claim all permissible deductions as a Solihull IT contractor.

As specialist catering accountants, we are very familiar with the sector’s key tax obligations: properly recording daily cash takings for income tax, applying 20% VAT on most food sales, tips treatment, end of year stock takes, PAYE on staff wages including tips, accurate CIS deductions for temps, staff bonuses and benefits rules and allowance for wastage or spoilage. With our support, Solihull cafes and restaurants can remain fully tax compliant and avoid penalties.

Yes, we can lodge an appeal on your behalf if we believe the late filing penalties are unfair or disproportionate. We’ll put forward strong mitigating circumstances, such as by presenting evidence you had taken competent tax advice and made your best efforts to file on time as a new business. Our experience with the appeals process means we know what arguments and narrative HMRC are sympathetic toward. We can represent you directly at a tax tribunal if needed to get Solihull startup penalties overturned.

When winding down a Solihull business we can advise you on the most tax-efficient exit strategies, including utilising business asset disposal relief to eliminate capital gains on machinery sales. We’ll secure maximum entrepreneurs’ relief on shares, structure dividends optimally, time disposals for optimal impact and ensure proper reporting to mitigate tax liabilities arising on cessation. Our retirement and exit planning expertise can save retiring Solihull business owners substantial sums in tax.