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Tax Services

MGM Accountants

Corporation Tax – Companies & Other Organisations

Corporation tax deals with the taxable income of limited companies and some organisations such as societies, clubs, co-operatives, associations, charities and other unincorporated bodies. Payment is extremely important in the case of corporation tax, and the payment deadline is usually earlier than the tax return deadline.

We are familiar with the different and sometimes complicated guidelines involved with corporation tax and can advise on how best to proceed.

Capital Gains Tax

We will advise you on your options where capital gains tax is concerned after selling or giving away an asset. You will learn whether or not you are liable for capital gains tax and if so, your annual exempt amount.

MGM Accountants offer a capital gains tax advice service you can trust.

VAT Returns

One area of accounting which traumatises many business owners is Value Added Tax, especially if importing or exporting products. Complex rules and regulations relating to VAT can lead to confusion and worse, fines, often due to a lack of understanding about the procedures involved in accounting for VAT. We can also guide you around the VAT maze and can advise on ‘special schemes’, easing the pressure for new start small businesses.

MGM Accountants can provide expert advice on VAT including:

  • Whether or not you need to register.
  • Which is your best option regarding accruals or cash accounting.
  • Whether annual or quarterly accounts are the best option for your business.
  • Small business VAT incentives awareness.
  • Which expenses are, and are not, VAT reclaimable.

Inheritance Tax

You will only be liable for inheritance tax if the estate, assets held in trust and gifts are deemed higher than the current inheritance tax threshold. There are many complexities to capital gains tax, which is why it pays to use MGM Accountants. Our sensitive handling of affairs in these typesof circumstances is valued by our clients.