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Sole Trader
Maximised earning status
Your Self Assessment, completed and submitted
Your Self Assessment, completed and submitted
Whether you’re a contractor, freelancer or small business owner, we want you to limit tax payments and get what you’re entitled to. BBS Ltd can assist any earning structure, even if it changes over time.
Your Self Assessment, completed and submitted
Your Self Assessment, completed and submitted
Your Self Assessment, completed and submitted
When the time for tax returns arrives, you can rely on us to prepare and send your Self Assessment before the deadline. So you don’t get in trouble with HMRC.
Year-end accounts
Your Self Assessment, completed and submitted
Year-end accounts
Yearly financial activity prepared and can be discussed in a face-to-face meeting or via email. That’s how we’re able to compare stats and plan ahead together.
Limited Company
VAT Submissions
Financial Reports
Financial Reports
If you’re registered for VAT, we’ll help you collect, record and report everything in compliance with Making Tax Digital.
Financial Reports
Financial Reports
Financial Reports
Each financial year, we will run through the performance of your company, advising on how to increase profits and reduce corporation tax.
Payroll
Financial Reports
Payroll
If a PAYE scheme is required, we will manage your payroll on your behalf. Employees will be paid, NI contributions will be deducted and all the correct submissions will be made to HMRC.
Construction Industry Scheme
CIS
Services provided for subcontractors:
Services provided for contractors:
The Construction Industry Scheme (CIS) sets out the special tax rules for subcontractors who work in the construction industry and how payments must be handled by contractors.
Services provided for contractors:
Services provided for subcontractors:
Services provided for contractors:
- Register you with HM Revenue & Customs (HMRC) as a contractor.
- Verify your subcontractors with HMRC.
- Ensure you pay your subcontractors correctly within the scheme.
- Supply deduction statements to the subcontractors.
- Keep your records in good order and supply HMRC with monthly returns.
Services provided for subcontractors:
Services provided for subcontractors:
Services provided for subcontractors:
- Determine your status as a subcontractor or employee, (or both) and register you with HMRC accordingly.
- Verify you with HMRC on behalf of your contractor.
- Manage and organise your business records.
- Prepare your end of year self assessment tax return and calculate your tax liability/ refund where applicable.
Making Tax Digital explained
What is Making Tax Digital?
How will Making Tax Digital impact me?
How will Making Tax Digital impact me?
MTD is HMRC’s plan to digitise the tax system for VAT, Income Tax Self Assessment and Corporation Tax for both businesses and individuals. Its purpose is to make tax returns simpler and more efficient for everyone.
How will Making Tax Digital impact me?
How will Making Tax Digital impact me?
How will Making Tax Digital impact me?
If you’re using spreadsheets, you’ll either need to use bridging software or start using HMRC-recognised software instead as of April 2024.
As a certified advisor, we can help with this.
What do I need to do now?
How will Making Tax Digital impact me?
What do I need to do now?
If you haven’t already, it’s important to take action now. Make sure you’re compliant with MTD for VAT by adopting fully compatible software, keeping digital records and signing up before the VAT deadline. Not sure on next steps? Please get in touch so we can help.