The profits of your business are subject to tax. The tax you pay will depend on the structure of your business. For limited companies profits are taxable under the corporation tax system, whereas sole traders and partnerships are dealt with in the self-assessment system.
As a director of a company you will have to file a tax return.
As a client of Murphy Thompson Moore, operating through a limited company, you can expect a service which includes the preparation your accounts, corporation tax return and all tax computation.
As a client of Murphy Thompson Moore, operating as a Partnership, we will prepare the partnership accounts, the partnership tax returns and the individual partners tax returns.
For Sole Traders, we will prepare the Self Assessment tax return.
As part of our service, we will look at your business profits and offer you advice on the most tax efficient way to extract profits from your business. Our advice will be straightforward and in plain English. We do not promote or advocate any tax saving schemes.