Business taxes have to be navigated so that operations run smoothly and are compliant with several jurisdictions. As the world increasingly focuses on governance and regulation, maintaining tax compliance is a significant business responsibility that helps mitigate financial risks, penalties, and increased tax liabilities. With rising tax laws, both domestic and multinational businesses need to be precise and flexible. The entry of a business into new markets complicates tax management and reporting further.
At Bloom Financials, we offer customised tax solutions in line with your business objectives and growth strategy. Our tax experts have expertise in providing technical support and knowledge to cater for your business needs. While focusing on understanding your peculiar situation, we work at reducing your tax liabilities while maximising your efficiency. We take the complexity of taxation off your table so that you can stay focused on what you do best: create value and growth.
Tax Compliance
Tax compliance is no longer just an act of legal obligation but a strategic business priority. Regulatory regimes scrutinise large and multinational business units to ensure the proper tax amount is paid. Any deviation from tax laws or violation, even unintentionally, can lead to penalties amounting to millions and severe damage to your reputation.
Our comprehensive tax compliance services are designed to ensure peace of mind for individuals, corporations, trusts, and estates. We offer personalised solutions that consider your unique circumstances while meeting critical deadlines. Our services include:
- Preparing and submitting annual tax returns
- Calculating tax liabilities
- Payroll and pension administration
- Enterprise Investment Scheme (EIS) relief claims
- VAT registration and returns
- Handling tax compliance checks and investigations
With Bloom Financials, you can rest assured that your tax compliance is in expert hands.
Corporation Tax
Corporation tax is one of the most fundamental duties for all UK-registered companies. Businesses are expected to pay corporation tax on their profits and submit accurate tax returns (CT600) to HMRC. Effective corporate tax planning is essential to minimise liabilities and ensure compliance.
Our corporation tax services cover the following:
- Calculating corporation tax liabilities
- Applying capital allowances and depreciation
- Identifying allowable and unallowable business expenses
- Securing relevant tax reliefs and incentives
Bloom Financials enables your company to make the most of HMRC allowance reliefs and reduce corporation tax liabilities. Structures align with your commercial objectives and keep you up to date with the latest regulations. Let us guide your tax strategy to maximise profitability.
Capital Allowances
Capital allowances are an excellent way of reducing your tax liability on acquiring assets for your business, such as equipment, machinery, or vehicles. Such allowances are crucial for maximising your tax position.
Our tax specialists will:
- Identify eligible capital assets in your business.
- Assist with documentation and claim preparation.
- Maximise your allowable deductions to lower tax liability.s
Contact us to discover how capital allowances can benefit your business. We’ll guide you through the process, ensuring every opportunity to reduce your tax bill is utilised.
Value Added Tax (VAT)
VAT compliance is usually a difficult area for any business. The UK standard rate is 20%, a reduced rate of 5%, and zero rates. Proper application of these VAT rates is essential, as incorrect application may attract penalties and disrupt cash flows.
Bloom Financials provides comprehensive VAT services, including:
- VAT registration and administration
- Preparing and filing VAT returns
- Advising on complex VAT scenarios such as real estate transactions, imports/exports, and digital services
- Identifying VAT efficiencies to minimise liabilities
Our VAT experts provide strategic advice and practical solutions to help you navigate the VAT requirements in the UK and major European markets. As your VAT partner at Bloom Financials, we can ensure compliance and efficiency.
Tax Enquiries & Investigations
HMRC compliance checks and investigations are a serious affair. The formal review of businesses and individuals helps them meet tax obligations. These investigations take a very close look at financial records, tax returns, and compliance processes to ensure the correct amount of tax is being reported and paid. HMRC initiates such reviews for various reasons, from inconsistencies in submitted returns and unreported income to just a randomly selected audit.
The implications of these checks can be significant in terms of financial penalties and interest on unpaid taxes and damage to your business’s reputation if discrepancies are found. Investigations may run the gamut from employee misconduct to accounting practices:
- Self-assessment and corporation tax returns
- VAT returns
- PAYE records for employers
If HMRC starts a probe, we are ready to help you. For our existing clients, we keep accurate records to enable easy compliance. For our new clients, we can become your representative to HMRC so that we can deal with the correspondence and problems on your behalf.
Our services include:
- Liaising with HMRC during investigations
- Reviewing and organising the necessary documentation
- Providing strategic advice to mitigate penalties and resolve disputes
Contact Bloom Financials to appoint us as your trusted accountant and tax advisor. We’ll safeguard your business from potential risks and ensure full compliance with HMRC requirements.
Stamp Duty Land Tax (SDLT)
SDLT is one of the most important considerations for people and businesses concerned with asset transactions in the UK. SDLT is paid on purchases or rentals of belongings or land, but only if the amount paid exceeds a certain charge threshold. The costs are various depending on the property’s value, place, and reason. This tax affects consumers of residential and industrial assets, and knowledge of the rules is crucial to avoid sudden costs and consequences.
SDLT can be a bit complicated, especially when there have been changes in the rules and reliefs available depending on the situation, be it a first-time buyer or a few dwellings. Mistakes in calculation or late payment of SDLT can lead to charges and interest, so you must get the process correct. Whether residential purchases, commercial assets investments, or premiums for rent, compliance with SDLT requirements is inescapable.
At Bloom Financials, we identify the SDLT liabilities for the customer, find available reliefs, and ensure accurate calculations. Professional services include liaising with HMRC, reviewing transactions for SDLT compliance, and tailoring recommendations to limit liabilities. Let us handle the complexities of SDLT so you can focus on your home goals with confidence.
Why Choose Bloom Financials?
We empower businesses at Bloom Financials through expert tax solutions. We work proactively to ensure compliance while keeping liabilities to a minimum so that you can focus on growth and innovation. Our deep understanding of UK tax laws and regulations means you can have peace of mind knowing that your needs are covered by our reliable, tailored services that deliver value.
Get in touch with us today to discuss your tax needs and learn how we can help you achieve your financial goals.
