About
Self-employed Tax Returns
We prepare Self Assessments for the self-employed, provide guidance and advice, translate documents, exchange correspondence with HMRC, help to avoid penalties, register and unregister businesses etc. Best Investments is an HMRC authorized agent and as such we use professional software, so our Clients do not need to order any codes or passwords for the purposes of their tax return. Self-employed tax returns are handled by all our employees at both branches. Read more – Self-employed tax returns
Self-employment tax returns constitute the largest part of our company services. We can represent our Customers at the British tax office. We use professional accounting software, which is why you will not need to apply for any codes or passwords.
What we offer:
- business registration and cancellation
- annual Self Assessment filing
- assistance in paying lower tax rate and retrieval of any overpayments
- contacting HM Revenue & Customs on our Customers’ behalf
- documents translation
- advisory services
- tax refunds
If you work as a subcontractor, you may be due a tax return. We don’t offer an online calculator as the amount due depends on many factors. In order to find out how much you can get or how much tax you need to pay we need to thoroughly examine your situation. Only then are we able to offer the most beneficial solutions. Call us to find out more. We can complete your tax return remotely (using traditional mail, telephone, or email) as well as seeing you at one of our branches.
Self-employed person’s obligations
Those working as self-employed as well as people employed in the CIS system both must complete a Self Assessment tax return, which they then need to send to the HM Revenue & Customs, and pay any tax that may be due.
P60/P45 tax refund
We help those employees who made a tax overpayment to get it back, based on information provided in their P60 and P45 forms. We follow the cases all the way, until they are successfully resolved.
Business registration
LTD company formation
Registration of the LTD company in the UK consists in sending documents to Companies House, in which all data regarding the emerging company, the scope of its services and the manner of conducting, personal data about the director and secretary, etc. will be included.
A company of this type should have at least one director and an original name that has not yet been used. Small businesses are run in the form of Private Limited Companies, while the larger ones usually operate as a Public Limited Companies (PLC) which differ in that they can take part in stock exchange transactions, must have a minimum capital of £ 50,000 and a given number of shareholders (at least two as in the case of directors + secretary).
Taxes and LTD
Business operations conducted in the UK in the form of Limited Company must pay tax on revenue and income, called Corporation Tax. It is settled independently by each company and it is necessary to carry out appropriate calculations and meet deadlines – tax settlements are the field of our accountancy office and we will be happy to help you. In case of any questions related to the establishment and operation of LTD, we encourage you to contact us – our advisers will provide you with all necessary information
Other services
We provide a range of other services: we provide references for property agents, we write letters and appeals to HMRC and other institutions, we translate official correspondence on the spot, we help with change of address procedures and in exchanging foreign driver’s licenses for UK ones, and many more. Read more – Other services we offer help in exchanging your driver’s license for a British one we translate correspondence many other issue
Service of a partnership-type company
If you are thinking of starting your own business in Great Britain and do not want to take risks yourself, but want to cooperate with a trusted partner, it is a good idea to establish a partnership. The company is managed by at least two people who share the risks, costs and profits from their activities. As each partner is registered as a self-employed person, he/she is responsible for debts with his/her own financial resources.
Running a business and settling taxes
In the case of this form of business, the creditors may demand payment of the debt from each of the partners, regardless of which of them is responsible for it. Deciding on this form of cooperation, we must be aware that we will be responsible not only for our own actions, but also for the actions of our partners. A big advantage of the company is its individual name, allowing for better promotion of its own, better than in the case of the name and surname.
Tax settlement is not complicated and the whole process resembles the one that takes place in the case of self-employed persons. The tax office should be provided with information about the revenues and costs of the business, and each partner pays a tax on his income share. It is worth adding that every partner who is registered as a self-employed person need to send their own Self-Assessment. In turn, one of the partners is to submit the so-called Partnership Tax Return on behalf of their entire company.
Business advice
Do you run a store, workshop, beauty salon? Are you a car trader or maybe you sell on Ebay or Amazon?
We have an offer especially for you. We offer reliable and friendly services, minimizing your concern for the company’s accounts and bookkeeping to zero. We maintain friendly relationships with our clients based on trust, as we believe that is a fundamental aspect to run profitable and reliable business .We take care of your settlements diligently, so that he could focus on the company’s development. Our honest advice and guidance in current law changes will help you to optimize your proceedings.
Our aim is to provide comprehensive care and help in solving problems.
The price for the service is set individually, based on the interview.
We have knowledge and experience, we are insured, we focus on discretion and trust
Doing business is not easy. Any business owner can find out difficulties, regardless of whether they work only as a self employed or employ several employees. Business consulting is often the only most effective option for growing your business and overcoming weaknesses. Using the help of professionals, you can get a lot of valuable advice and tips which can definitely improve work and its effects.
Often, at the beginning of the business path, we are undecided and we do not have knowledge, which obviously inhibits development significantly. Therefore, it is worth seeking advice from a specialist and making the right choice of form for your activity. It is also important to be informed about upcoming changes or news from HMRC.
We invite you to consult and learn how to start a business and how to take first steps in it.
Benefits and allowances in the UK
Universal Credit
Universal credit supports you if you are on low income or out of work.It includes a monthly payment to help your living cost.Universal credit is made up of basic allowance plus different elements for things like housing element,child element,carrying or sickness.
Employment and support allowance
It is available to all sick and disabled people who are unable to take up any employment for this reason. It is also helpful for people who can work, so also the people who are employed, self-employed and unemployed who have worked for at least one year may apply for benefits.
Child Tax Credit
Benefit for people with at least one child who need additional financial resources for upbringing and keeping offspring.
Working Tax Credit
It is an income supplement for employed or self-employed persons. People who are over 25 years old and work more than 30 hours per week, people with disabilities or older than 16 years of age and working at least 16 hours a week as well as those who are 60 or more and work at least 16 hours a week are eligible for this benefit.
Child Maintenance
The British equivalent of child support, and therefore a certain amount of money, which is paid by the child’s parents who do not have the right to raise it. The money is intended for the maintenance and upbringing of a child, it is managed by the second parent who is the current legal guardian.
Housing Benefit
Housing allowance is a benefit that can be applied for by the households which are in a very unstable financial situation. It is not granted to cover costs resulting from the use of media utilities and it is given on the basis of several factors, such as the amount of rent paid or type of flat. It applies to both unemployed and working people whose income does not exceed a certain threshold.
Jobseeker Allowance
It is an allowance for people who actively look for a job who are capable of doing it or those who do not work more than 16 hours a week. You can apply for this allowance if you have worked in the UK for at least a year or you are a full-time student.
Child Benefit
This allowance is granted to families where one parent does not earn more than £ 50,000 a year. Child Benefit is granted to legal guardians of those children who are under 16 years of age or are between 16 and 20 years old, but are in education. We help in filing the documentation and getting the allowance.
Maternity Allowance
This is a maternity allowance paid by the state for self-employed women. You can apply for maternity benefit from the 26th week of pregnancy, it can be paid the earliest 11 weeks before the planned date of birth and it may be received for a period of 39 weeks.
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