- CIS & Self Employed
- Property Investors
- Contractors / (PSC)
- Uniformed Workers
- Outsourced Payroll Services
- Insurance Protection
CIS & Self Employed
Do you work in the Construction industry under CIS?
Do you want a compliant tax return service that will look to ensure the maximum tax relief is claimed?
With an average refund in excess of £2,000 for construction workers, why not sign up for our service and benefit from our flat rate fee with no need to pay anything upfront as any fees are taken from your refund!
What do you have to lose?
It’s never too late
Late Returns?
Have you been a little lax in the past and need to catch up with outstanding tax returns? We can help again, please contact us advising what is required or request a call back from one of our team and we can arrange a call for you.
Do you own a residential or commercial property that is let out? If so, regardless of if you beleive you have made a profit or not, you should be making declarations to HMRC for this.
Not only is this a requirement of HMRC, if you are generating losses then these should be stated now and ‘banked’ to ensure that you will gain tax relief in future years when you start to make a profit.
Tax Rule
Changes effective of 06/04/2017
Individuals letting residential property face a number of changes to their tax position in the next few years following announcements in the 2015 summer Budget.
This is a major change for landlords, and the Government stated that it does not wish to cause substantial short term disruption to the private rentals market. Therefore, the change will be phased in from 2017/18, with transitional rules until 2020/21. During the transitional years, the amount of the tax deduction from rents will reduce and the proportion of loan interest that will only qualify for basic rate tax relief will increase.
In the transitional years landlords will be able to claim
- 2017/18 – 75% of the interest against rents, 25% basic rate tax relief
- 2018/19 – 50% of the interest against rents, 50% basic rate tax relief
- 2019/20 – 25% of the interest against rents, 75% basic rate tax relief
Individuals letting residential property face a number of changes to their tax position in the next few years following announcements in the 2015 summer Budget.
This is a major change for landlords, and the Government stated that it does not wish to cause substantial short term disruption to the private rentals market. Therefore, the change will be phased in from 2017/18, with transitional rules until 2020/21. During the transitional years, the amount of the tax deduction from rents will reduce and the proportion of loan interest that will only qualify for basic rate tax relief will increase.
Property Investment Company
Depending on the size of your portfolio, the equity within and loan to value of your properties there may be tax advantages to holding your properties in a company rather than holding personally.
Every persons situation will be different due to the nature and considerations that will need to be made with regards this. To discuss your individual situation in more details please contact us by one of the methods shown and we can arrange free no obligation initial conversation.
In addition to the general tax advice we do also offer the set up, administration and ongoing support should you wish to go down this route.
Our Limited Company fees are amongst the most competitive in the country with our principle owner also being a seasoned portfolio Landlord with a vested interest in the subject, you can therefore ensure that you are in safe hands and any queries that you have are dealt with a compliant and tax efficient manner, making the most of all scenarios.
Contractors / Agency Workers (PSC)
Are you a contractor offering services through a Limited company (Personal Service Company/PSC).
If so, we have THE compliant service for you….
With industry knowledge gained over the past 9 years and specific specialities with;
- 24 month rule
- IR35
- Settlements Legislation
- Tax Efficiency Projects / Optimum split of dividends / Directors fees / Salary
- Entrepreneurs Relief, Capital Distributions & Company Exit Strategies upon cessation of business
- Tax Efficient Investments
There are many things to consider with owning and operating through a limited company rather than being a self employed individual or agency worker.
TWL Business Solutions Ltd are well versed in this market and are in a position to offer fully compliant service at one of the best rates in the country.
With an ‘all in’ fee charged monthly including all compliance related services including;
- Annual Company Accounts
- Annual Company Tax Return
- Companies House Filings including Accounts and Annual Returns
- Monthly RTI Payroll
- VAT Quarterly Returns
- Child Care Vouchers
- Pension Contributions and Calculations
Uniformed Workers / Car Allowance Claims
As a HMRC registered agent we can submit expenses claims on your behalf to ensure that you can legitimately claim all available tax reliefs against your employment income, these claims may consist of;
- Medical Insurance premiums for Doctors (MDU / GMC Fees)
- NMC and general Nursing Registrations plus uniform allowances (Nurses and Healthcare Professionals)
- Uniform allowances for Police, Fire, Ambulance workers
Do you receive a car allowance from your job or use your personal car for work related travel?
Did you know that you can claim the difference between what your employer pays you as an allowance and HMRC’s approved mileage rates at £0.45 and £0.25 per mile. You are able to make claims to HMRC for the previous 4 year’s therefore, there have been occasions in the past where these claim have been in excess of £7,000!
Unbeknown to many workers who drive their own car for work or are in receipt of a car allowance in addition to their annual salary , this is a perfectly legitimate and HMRC approved way of milimising your taxable income and in turn your tax.
Are you a small / medium sized company that employs one or more people?
Is your business not quite big enough to employ a full time payroll advisor / processor but you do not know where to start when it comes to the many rules and regulations regards payroll, RTI submission and year end summary submissions to HMRC.
If you fall in to this category and you would like some further assistance with operating your company payroll, please get in touch.
We offer an outsourced payroll service for these up and coming business which basically means we will deal with the paperwork / submissions to HMRC, advise what each of your employees should be paid, advise what should be paid to HMRC and when and also importantly make the necessary submissions to HMRC to report this information weekly / monthly!
With fees starting from as little as £3.50 per payslip – not only will it free up your time to run your business, you can be assured that the submissions to HMRC are done so in a efficient and compliant manner, forgoing HMRC’s very expensive penalty structure which applies when this is not done correctly
Insurance Protection
Life & Critical Illness Protection & Business Protection Insurance
Do you have a mortgage? If so you probably have life insurance, which if this is more than 3 years old, chances are you will be paying more than you need to.
Working in partnership with Haven Global Strategies Ltd, an FCA regulated business, we can offer a personal review of your life and protection policies.
These policies include but not limited to
- Life Insurance
- Critical illness Protection
- Mortgage Protection / Income Protection
- FIB – Family Income Benefit
- Home insurance
Our Business Related Insurance services include
- Key Man Insurance
- Business Continuity Insurance
- Relevant Life policies (very tax efficient for owner managed businesses)
We’ll be more than happy to review any of your existing policies and look to reduce your cost / increase your cover.
We can even assist if you have pre-existing medical conditions or have been refused cover elsewhere…