Services

Taxation

Our strong and dedicated team at First Choice Accountancy strive to deliver a friendly, efficient, and cost-effective solution for your financial accounts.

We offer tailorable services for various accounting needs related to businesses, individuals, and contractors. Our team of experts will help you to develop a better understanding of your financials, to enable future planning.

Our clients are at the heart of our business, and that is why the First Choice Accountancy team goes above and beyond to help our clients achieve their goals.

Our Services

Personal Tax Returns

Individuals not running their own business may still from time to time need to prepare a personal tax return to take account of an unusual or extraordinary events such as an inheritance, the sale of an asset or income from overseas. This is required whether you are already submitting a self-assessment tax return or not.

Individuals running their own business, in partnership, or perhaps letting their own property must report the income and pay tax and National Insurance annually. Obtaining professional help even for relatively straightforward businesses or on property income is essential, and at First Choice Accountancy we offer a complete range of personal Tax Return services.

We are expert in assisting our clients to prepare the necessary computations and returns, whether for business or personal, while also advising on how best to comply with the relevant rules.

Self-Employed

Individuals who are liable for taxation on income, gains or profits, are required to submit an annual personal tax return. If the time limits for the filing of tax returns are not met, fixed penalties arise and debts to HM Revenue and Customs may accrue.

We can take the worry out of this process for you by completing the tax return on your behalf. We prepare all the necessary computations in a timely manner and notify you when payments are due, so you can avoid penalties and the last-minute rush.

At First Choice Accountancy we provide professional, high-quality support to our personal clients and we will work quickly and efficiently to complete your tax return.

Travel Claims

Travel claims regulations are complex and can easily be misinterpreted so First Choice Accountancy are here to help clear up any confusion.

Tax relief is available for travelling expenses, including journeys that you make in order to perform duties, or that you make to and from a place you attend in order to perform your duties. This does not include commuting or private travel. Relief is also available for travel between your home and a temporary workplace which is attended to perform a task for a limited duration or for a temporary purpose.

We give straight forward advice to help you make accurate claims for your travel expenses.

CIS

Under the Construction Industry Scheme (CIS), contractors deduct money from a subcontractor’s payments and pass it to HM Revenue and Customs (HMRC). The deductions count as advance payments towards the subcontractor’s tax and National Insurance.

Contractors must register for the scheme, but subcontractors do not, although deductions are taken from their payments at a higher rate if they’re not registered.

As part of the service, we will liaise with HM Revenue and Customs for you and resolve any issues that do arise, whilst keeping you fully informed. This means you can carry on with your work as usual, without needing to take time out to talk to HM Revenue and Customs directly.

First Choice Accountancy can offer specialist contractor accounting, contact us to find out more.

VAT

First Choice Accountancy advises you on the different accounting options available and what will suit you. We will inform you if you should be VAT registered and how to carry out the registration procedure. We assist you with help and advice on accruals or cash accounting and your quarterly or annual accounting options.

Your complete VAT return will be filed by us, on your behalf. You can leave these routine tasks to us and devote more of your time to further developing your business.