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Tax Returns Accountants

For many people, the end of the financial year means tax returns. These are incredibly important documents that businesses and individuals must complete in order to operate legally. What they don’t tell you is that tax returns are complicated, time-consuming, and full of complexities.

At Lumbview Accounts we offer a range of tax return services to help you get your taxes right every time. Whether you’re self-employed or run a large company, our team has the expertise to produce accurate tax returns that keep as much money as possible in your hands.

Types of Tax Returns We Can Prepare

Personal tax

Self-assessment tax return

Self-assessment tax returns are the most common type that we deal with. Sole traders, self-employed workers, and some business owners are required to self-assess their tax bill. If you’ve never had to do this before, then the process can seem overwhelming.

There are many obstacles to navigate when completing a self-assessed tax return. These include student loan repayments, tax reliefs, and pension contributions to name a few. Lumbview Accounts can help you successfully traverse these issues and meet self-assessment return deadlines.

Charity accounts

VAT returns

If you’re a business owner, then it’s likely that you’re entitled to claim back VAT on company purchases. However, failing to accurately claim your VAT can result in you paying the taxman too much, or being penalised for over claiming.

VAT is a minefield of intricacies that takes years to properly understand. When dealing with VAT, it’s highly recommended that you seek the advice of an experienced professional to make sure you’re getting it right.

At Lumbview, our tax advisers offer a comprehensive VAT Service that will keep everything in check year-round. This includes quarterly VAT reviews, full tax return servicing and VAT health checks. Find out more about our VAT returns accountants

Annual return

Corporate tax return

Corporate tax returns are submitted by businesses each year, declaring their taxable income as well as any other taxes they are liable for. Unemployment, sales and payroll taxes need to be accounted for and all tax liabilities covered in order to avoid hefty fines.

Why Should You Hire Accountants for Your Tax Return?

Firstly, hiring an accountant to take care of your tax documents will save you a tonne of time in the long run. This time can be ploughed straight into other areas of your business, potentially leading to faster growth and success.

In addition, professional tax advisers have the experience and knowledge to keep your tax bill as low as possible, without the risk of incurring any fines. Hundreds of business owners are missing out on exemptions they are entitled to. When you partner up with the Lumbiew team, you’ll never lose out on a tax refund or exemption.

Finally, a professional accountancy team is extremely versatile and can help you out in other areas of your business. At Lumbview, we specialise in a wide range of financial services, including forecasting, business valuation, payroll management, bookkeeping and much more.

Contact an Accountant for Your Tax Return

If you’d like help with your tax returns or just want to find out more about Lumbview Accounts, then don’t hesitate to send us a message using our contact form. Alternatively, you can give us a call on 0161 793 9737.

If you live in or around Manchester, you’re also welcome to visit us at our offices in Swinton. Our premises are easily accessible via public transport, and, we have a private car park available if you prefer to drive.

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Frequently asked questions

Tax Return FAQs

Can I complete a tax return myself?

Yes, it’s definitely possible to complete a tax return without the help of a professional accountant. However, this is only recommended if you know exactly what you’re doing. It’s all too easy to end up paying too much tax or not fully covering your liabilities.

Hiring a reliable accountancy team is the easiest way to guarantee that you’re paying the right amount of tax. Experienced accounts know when reliefs and exemptions can be applied and will use their knowledge to give you the best possible results.

If you have any questions at all regarding tax returns, feel free to get in touch with us today.

When should I submit a self-assessment tax return?

Yes, it’s definitely possible to complete a tax return without the help of a professional accountant. However, this is only recommended if you know exactly what you’re doing. It’s all too easy to end up paying too much tax or not fully covering your liabilities.

Hiring a reliable accountancy team is the easiest way to guarantee that you’re paying the right amount of tax. Experienced accounts know when reliefs and exemptions can be applied and will use their knowledge to give you the best possible results.

If you have any questions at all regarding tax returns, feel free to get in touch with us today.

Do business owners need to complete a tax return?

Yes. Business owners are required to submit either a self-assessment tax return (if they are a sole trader), or a corporation tax return.

With relief and exemption guidelines changing every year, it can be difficult to know how much tax your business needs to pay. Partnering up with an experienced accountancy team such as Lumbview is the easiest way to ensure you’re able to fully claim the tax relief that you’re entitled to.

Are tax returns required for property income?

If you’re a landlord renting out properties then you will have to fill in a landlord tax return at the end of every tax year. This is another area of the tax system that is quite unclear, and many landlords are entitled to exemptions that they fail to capitalise on.

At Lumbview Accounts, we work with a range of Manchester-based landlords. Our experience with these clients means we are well set to prepare the best possible tax returns for local landlords.