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BUSINESS TAXATION SERVICE

Taxation is the single most repeated worry of every business in their relationship with government bodies. Our team of experienced chartered accountants and tax advisors will adequately manage your business taxes.

If you are charged a fine for late tax submission which is as a result of any inefficiencies from us, we will cover 100% of the fine and pay you some compensation as well

At Mayah & Co Consulting, your taxes will be assessed by professionals who will draw out tax programs for your firm to follow and take advantage of tax efficiencies.

  • Our business tax specialty:
  • Value Added Tax (VAT)
  • Corporation Tax
  • Stamp Duty
  • Capital Gains Tax
  • Capital Allowances

Value Added Tax (VAT)

Though usually underestimated, VAT is one of the most complex topics in accounting and compliance. Thousands of people in the United Kingdom are investigated every year for VAT fraud and non-compliance.

HMRC is making significant changes in declaring and submitting VAT returns with its introduction of ‘Making Tax Digital’. Our experts at Mayah & Co Consulting have specialised HMRC compliant software to make sure your business is in sync with the new legislation.

At Mayah & Co Consulting, our VAT experts will advise and manage your VAT needs.

We will:

  • Advice on whether VAT registration is financially beneficial for you
  • Register and de-register your company depending on your current and projected situation
  • Advice on which VAT scheme will lead to tax savings for your business
  • Act as your agent with HMRC on all VAT related matters
  • Make sure your books are correctly managed in compliance to VAT laws
  • File your VAT returns in a timing fashion to avoid huge fines and penalties
  • Declare VAT on European Union transactions
  • Manage VAT payments to or from your business
  • Manage VAT investigations

Corporation Tax

Every business is supposed to declare their tax liability to HMRC and pay corporation tax if in profit. Failing to declare corporation tax can result in huge fines and even put the company’s directors in a bad spot.

Our tax team will:

  • Accurately compute your tax liability
  • Declare and pay your corporation tax in a timely manner
  • Liaise on your behalf with HMRC on any tax-related issue
  • Take responsibility of your fines if it was caused by inefficiencies from our end
  • Manage your Corporation tax account

Stamp Duty

Your business may have to pay stamp duty on transactions that involves the transfer of land or interest in land; grants or assignments of leases; and transfers of chargeable securities like shares in companies.

Stamp duty can catch businesses out especially those who are just getting established.

At Mayah & Co Consulting, our team of experts will manage your stamp duty so you don’t have to worry.

Capital Gains Tax

Capital gains is an area neglected by most businesses and accountants.

The government has applied an 18% capital gains tax on business disposals. If you meet certain criteria, you will qualify for the “entrepreneur relief scheme” which lets you enjoy the reduced rate of 10% on disposals of up to a lifetime allowance of £10 million.

We have experts dealing in Capital Gains Tax and we can help your business.

Capital Allowances

Capital allowances poses a challenge to many small and big businesses in the United Kingdom and this puts businesses at risk of not properly accounting for this.

This is a tax relief system on investment in business equipment. Businesses are not allowed to offset the entire cost of significant investment in capital equipment against the profit in the year of purchase.

Capital Allowances creates a way of offsetting those cost over a number of years which will normally be equal to the lifespan of the capital equipment.

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