Taxation Services for Business Owners and Individuals

Tax legislation in the UK changes every year, and the stakes for getting it wrong are significant — from penalties and interest charges to missed reliefs worth thousands of pounds. At Simpson Wreford LLP, tax is not something we deal with once a year at filing time. We work with our clients throughout the year to plan ahead, identify opportunities, and ensure every decision is made with the tax consequences fully understood.

Our chartered accountants have been advising businesses and individuals on tax matters since 1886. That depth of experience, combined with continuous professional development to keep pace with HMRC’s ever-changing rules, means our clients benefit from advice that is both technically sound and practically useful.

Corporation Tax

Limited companies in the UK must pay Corporation Tax on their taxable profits. The main rate is currently 25% for profits above £250,000, with a small profits rate of 19% applying to profits up to £50,000. Companies with profits between these thresholds are subject to marginal relief. Getting your corporation tax position right requires more than simply filing a return — it requires year-round planning.

What we do

• Prepare and file your Company Tax Return (CT600) accurately and on time
• Calculate your corporation tax liability and identify all available reliefs
• Advise on the most tax-efficient accounting periods and year-end timing
• Claim capital allowances, including the Annual Investment Allowance (AIA) and full expensing on qualifying plant and machinery
• Identify and claim Research and Development (R&D) tax relief where applicable
• Liaise directly with HMRC on your behalf, including handling enquiries and investigations
• Advise on group relief and losses where you operate across multiple entities

The deadline to pay corporation tax is nine months and one day after the end of your accounting period. Your CT600 must be filed within 12 months. We manage both deadlines for our clients as standard.

Self-Assessment and Personal Tax

If you are a sole trader, partner, company director, landlord, or higher earner, you are likely required to complete a Self-Assessment tax return each year. The deadline for online submission is 31 January following the end of the tax year, with payment of any tax due on the same date. A second payment on account falls due by 31 July.

We prepare and file Self-Assessment returns for individuals at all levels of complexity — from a straightforward return for a sole trader to a detailed return involving employment income, dividends, rental income, capital gains, and foreign earnings.

Personal tax services include

• Preparation and filing of Self-Assessment returns (SA100 and all supplementary pages)
• Income Tax planning for directors, including optimal salary and dividend strategies
• Pension contributions as a tax-efficient way to reduce your Income Tax liability
• Capital Gains Tax (CGT) planning on the disposal of assets, shares, and property
• Advice on HMRC’s High Income Child Benefit Charge
• Handling HMRC correspondence and resolving disputes on your behalf
• Making Tax Digital (MTD) for Income Tax compliance, mandatory from April 2026

VAT Advice and Compliance

VAT is one of the most complex areas of UK tax, with numerous rates, schemes, and rules that apply differently depending on your sector and business model. The compulsory VAT registration threshold is currently £90,000 of taxable turnover in any rolling 12-month period. Voluntary registration is also available and can be advantageous for businesses supplying VAT-registered customers.

Our VAT services cover

• Advising on whether and when to register for VAT
• Registering your business with HMRC and managing the process
• Identifying the most suitable VAT scheme: Standard, Flat Rate, Cash Accounting, or Annual Accounting
• Preparation and submission of VAT returns under Making Tax Digital
• Advice on VAT liability for specific transactions, including property, construction, and international trade
• Voluntary Disclosure to HMRC where past errors need to be corrected
• Representing you in VAT inspections and compliance checks

From April 2022, all VAT-registered businesses must comply with Making Tax Digital for VAT. We handle MTD VAT submissions for our clients as standard, using QuickBooks, Xero, and Sage.

Proactive Tax Planning

The most valuable tax advice is given before decisions are made — not after. Whether you are considering taking on a new employee, purchasing premises, restructuring the business, or planning to sell, the tax implications should be central to your decision-making. We work with business owners as an ongoing sounding board throughout the year, not just as year-end compliance specialists.

Areas where proactive planning makes a significant difference

• Profit extraction: the most tax-efficient mix of salary, dividends, pension contributions, and directors’ loans
• Business structure: whether to operate as a sole trader, partnership, LLP, or limited company
• Share structures and EMI (Enterprise Management Incentives) schemes to reward and retain key employees
• Business Asset Disposal Relief on the sale of a business, potentially reducing CGT to 10%
• Timing of asset purchases to maximise capital allowances in the most beneficial tax year
• Pension planning for directors to reduce both personal and corporate tax liabilities
• Pre-transaction planning before a business sale, merger, or acquisition

Research and Development (R&D) Tax Relief

R&D tax relief is one of the most valuable reliefs available to UK businesses, yet it is frequently under-claimed. If your business invests in developing new products, processes, or services — or improving existing ones — you may be eligible to claim, even if the project was ultimately unsuccessful. From April 2024, the SME and RDEC schemes were merged into a single scheme for most companies, with revised rates and rules.
We help businesses

• Assess whether their activities qualify for R&D relief under HMRC’s guidelines
• Identify all qualifying costs: staff, subcontractors, software, consumables, and cloud computing
• Prepare a technically robust claim that will withstand HMRC scrutiny
• Complete the Additional Information Form (AIF) now mandatory for all R&D claims
• Respond to HMRC R&D compliance checks and enquiries

PAYE, National Insurance, and Employer Taxes

As an employer, you have significant compliance obligations in relation to Pay As You Earn (PAYE) and National Insurance Contributions (NICs). Errors in payroll tax can result in penalties, interest, and HMRC investigations. We work alongside our payroll team to ensure all employer tax obligations are met accurately and on time.
Employer tax services include

• Tax and NIC treatment of employee benefits and expenses (P11D and P11D(b) filings)
• PAYE Settlement Agreements (PSAs) for minor or irregular benefits
• IR35 and off-payroll working: assessing the employment status of contractors
• National Minimum Wage and National Living Wage compliance
• Employment Allowance claims (up to £10,500 per year for eligible employers from April 2025)
• Advice on termination payments and the tax treatment of redundancy

Inheritance Tax and Capital Gains Tax

Both Inheritance Tax (IHT) and Capital Gains Tax (CGT) are areas where early, structured planning can make a substantial difference to what is ultimately paid. IHT is charged at 40% on estates above the nil-rate band (£325,000 per individual, rising to £500,000 where the residence nil-rate band applies and a home is left to direct descendants). CGT rates depend on the asset type and the taxpayer’s Income Tax band.
We advise on

• Lifetime gifting strategies to reduce the value of your estate for IHT purposes
• Annual gift exemptions and other IHT exemptions and reliefs
• Business Property Relief (BPR) and Agricultural Property Relief (APR)
• Trusts as a mechanism for IHT planning and long-term asset protection
• CGT on the disposal of property, shares, and business assets
• Principal Private Residence (PPR) relief on property disposals
• Holdover and rollover relief to defer CGT on business assets

IHT and estate planning are closely linked to our Estate Planning service. We coordinate tax advice alongside Will preparation and trust arrangements for a joined-up approach to protecting your wealth.

International Tax

If you have income, assets, or business interests outside the UK, or if you are not UK-domiciled, your tax position can be significantly more complex. As members of the UK200Group, we have access to a network of quality-assured accountancy and law firms across the world, enabling us to support clients with cross-border requirements effectively.
International tax areas we advise on

• UK tax residence and domicile status
• Non-domicile rules and the remittance basis of taxation
• Double Taxation Treaty relief to prevent the same income being taxed in two countries
• UK tax obligations for businesses operating or expanding internationally
• VAT on the import and export of goods and services

Why Choose Simpson Wreford LLP for Tax Advice?

We are an ICAEW-regulated chartered accountancy firm based at Royal Arsenal, Woolwich, serving businesses and individuals across London, Kent, and the South East. Founded in 1886, we have advised clients through more than a century of tax legislation changes — from the introduction of PAYE in 1944 to the digital transformation of tax today.

• Fixed fees agreed upfront — no surprises at year-end
• A named contact who knows your business, not a different adviser each time
• Proactive year-round advice, not just annual compliance
• Direct access to partners, not just junior staff
• ICAEW members: regulated, insured, and bound by a professional code of conduct
• Members of the UK200Group, with access to specialist expertise nationally and internationally