Based within the North East of England, at Total Tax Solutions we offer a broad spectrum of accountancy services, all of which are designed to help your business thrive. We are proud to provide a range of accountancy services to businesses around the North East. At Total Tax Solutions we do not believe that anyone should pay a single penny more in taxation than they are legally obliged to do.
We apply every HMRC allowance and optimise distribution of earnings to maximise your retained income every year. We take the worry out of the financial side of your business, giving you freedom to focus your attention on growing other areas. We don't just manage your accounts, our team has the extensive knowledge and skills to help guide your business out of and away from financial difficulty, should you ever find yourself in it.
We not only help businesses struggling with their financial side, we also assist thriving ones in continuing to grow. Why seek assistance only after your business has suffered?
We apply every HMRC allowance and optimise distribution of earnings to maximise your retained income every year. We take the worry out of the financial side of your business, giving you freedom to focus your attention on growing other areas. We don't just manage your accounts, our team has the extensive knowledge and skills to help guide your business out of and away from financial difficulty, should you ever find yourself in it.
We not only help businesses struggling with their financial side, we also assist thriving ones in continuing to grow. Why seek assistance only after your business has suffered?
Services
Whilst being a landlord may be a great achievement, we understand that when it comes to arranging your accounts and tax affairs that this can add a lot of stress to your role.
But do not fret, at Total Tax Solutions our experts are here to help.
If you have a personal rental income, you are required to register for self-assessment and to complete annual tax returns.
However, if you have a property portfolio, this is similar to running a Limited Company, meaning that this may have more of a tax-efficient structure rather than you personally owning properties.
But do not fret, at Total Tax Solutions our experts are here to help.
If you have a personal rental income, you are required to register for self-assessment and to complete annual tax returns.
However, if you have a property portfolio, this is similar to running a Limited Company, meaning that this may have more of a tax-efficient structure rather than you personally owning properties.
Bookkeeping is a vital part of running any business, but finding the time to input your receipts, keep up with invoices and log expenses isn't always easy when you are a business owner.
But, do not fret, at Total Tax Solutions our finance experts are always on hand to help.
Bookkeeping is the regular practice of keeping records of the finances that surround your business.
These records are needed when processing tax returns and for any end of year account submissions.
By outsourcing your bookkeeping to one of our finance experts, this can free up your time and give you the peace of mind that your finances are in check.
But, do not fret, at Total Tax Solutions our finance experts are always on hand to help.
Bookkeeping is the regular practice of keeping records of the finances that surround your business.
These records are needed when processing tax returns and for any end of year account submissions.
By outsourcing your bookkeeping to one of our finance experts, this can free up your time and give you the peace of mind that your finances are in check.
Here at Total Tax Solutions, we can act for your business partnership and can ensure that your accounts and tax returns are always up to date.
Before we can assist you with your partnership accounting, you must register your business partnership with HMRC, via their website or using the SA400 form.
We can complete this step for you, to which you will then receive a Unique Tax Reference from HMRC and they will expect tax returns from you.
Together, you and those you are partnered with will have to prepare your own tax return, and you will also need to declare any partnership profits on your own personal tax return.
Before we can assist you with your partnership accounting, you must register your business partnership with HMRC, via their website or using the SA400 form.
We can complete this step for you, to which you will then receive a Unique Tax Reference from HMRC and they will expect tax returns from you.
Together, you and those you are partnered with will have to prepare your own tax return, and you will also need to declare any partnership profits on your own personal tax return.
If you are a sole trader or are self-employed, you run your own business, hire your own team, provide the equipment that is needed in order for you to work, charge for your services or sell goods or services for your own profit.
As a sole trader or self-employed person, you are not a limited company, meaning that you are responsible for notifying HMRC of your earnings and paying all of the appropriate taxes.
There are many costs which surround the running of your own business.
However, if you have purchased certain items or services which align with the running of your business, you are able to offset these against your overall business turnover - meaning that you will have not have to pay taxes on this disclosed amount.
As a sole trader or self-employed person, you are not a limited company, meaning that you are responsible for notifying HMRC of your earnings and paying all of the appropriate taxes.
There are many costs which surround the running of your own business.
However, if you have purchased certain items or services which align with the running of your business, you are able to offset these against your overall business turnover - meaning that you will have not have to pay taxes on this disclosed amount.
As the owner of a limited company, it is always important to remain tax efficient, whilst fulfilling your other legal responsibilities.
By doing so, this will only protect your company against fees and penalties.
A limited company is a privately-owned company - meaning that each of its finances and actions are separate from those finances of its owners.
This allows for individuals to be protected from financial issues, should their company ever face any difficulties.
Other benefits of setting up a Limited Company, also include; investment opportunities, business loans, tax advantages and dividends.
By doing so, this will only protect your company against fees and penalties.
A limited company is a privately-owned company - meaning that each of its finances and actions are separate from those finances of its owners.
This allows for individuals to be protected from financial issues, should their company ever face any difficulties.
Other benefits of setting up a Limited Company, also include; investment opportunities, business loans, tax advantages and dividends.
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