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Accountant Exeter
Exeter accountant accountants Exeter
Tel | 01395 542 575
or | 01392 241 756
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Tax Planning

We recognise the difference between tax planning and tax calculation. Looking at your annual accounts and calculating your tax liability is necessary but offers you no benefit. Whilst HM Customs and Revenue may offer to calculate your tax liability for nothing there is no guarantee that they will consider all the allowances that may be due. We can take the pain out of complex personal and capital gains tax computations and save you the time and worry of compliance work.

Tax planning entails an understanding of the taxation regulations, careful review of your individual situation and proactive advice on ways to reduce your tax liability:
Tax Planning Services
  • Annual Tax Planning Review
  • Proactive Tax advice
  • Tax Investigation support and
  • professional fee protection
  • insurance
  • Payroll and NIC Taxation advice
  • Inheritance Tax Planning
  • Overseas and Expatriate Tax
  • Planning
  • VAT advice and support
  • Preparation of all annual Tax
  • Returns including;
  • Self Assessment Returns
  • Corporation Tax Returns
  • Annual PAYE Returns
  • Sub Contractors Returns


NIC - National Insurance Contributions


Based in Exeter, our expert accountants can guide you through the complex issue of National Insurance.

National Insurance Contributions are there to cover you in the event of something going wrong. Making sure that you pay enough is important, but nobody wants to pay too much. The most common cause of an overpayment of NIC is when you take income from two or more jobs, especially if one is self employment on top of being employed.

The upper limit is based on your annual earnings between the lower threshold for contributions and the upper earnings limit, plus one per cent on earnings above this. This may sound complicated, but the actual calculations are quite easy to do. If there is a chance that you will go above the limit, then you can apply for a deferment of contributions. Essentially this means that you can put off paying extra NICs until after the end of the tax year so that you can correctly calculate how much you have to pay.


 
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Accountant Exeter

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To get a deferment, you have to apply to the deferment group. They do recommend that applications for deferment are made at the start of the tax year, but you can make an application up to February in the tax year if your situation changes. Once the tax year ends, the deferment group will calculate your contributions collect any outstanding monies that may remain payable.

Obviously your situation may change, or you may not be aware of this until after it is too late to apply for a deferment. You are able to claim a refund on overpaid NICs up to six years after the end of the relevant tax year.
 
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Professional Services - Exeter Accountants
Cloud Accounting
Bookkeeping + VAT
Payroll Services
Forensic Accountancy		 Business Plans & Development
Tax Planning
Management Accounts
Accountancy & Audit
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Tel | 01395 542 575
or | 01392 241 756
Unit 4, Woodbury Business Park, Exeter, Devon, EX1AY
 
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Accountant Exeter
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