Self Assessment Tax Returns

Preparing and filing your own tax returns can be a long and laborious task that requires a lot of time and patience, which is often against you when faced with an impending HMRC deadline.

Personal Tax Returns can be very confusing if you’ve never done them before, and if you don’t understand what you’re doing you could run the risk of paying too much tax or incurring an expensive penalty from HMRC for completing your tax return incorrectly or filing it late.

So whether you are:

Self-employed as a sole trader
A freelancer or contractor
A landlord
A Company director
A higher rate tax payer
An expatriate

We can save you time and help you avoid any nasty penalties!

Person struggling with Self Assessment Tax return

Preparing Annual Tax Returns

At Five Rivers, we are experts in preparing annual tax returns. Our qualified Chartered Accountants (who are regulated by the ICAEW) will take the information you provide and prepare your tax return within your required timescale, saving you time and ensuring you make the most of the tax savings available to you. We will:

Complete your tax return accurately and on time to avoid any penalties.
Ensure all allowable expenses are claimed.
Treat any losses correctly to ensure they are used in the most efficient way possible.
Minimise your tax bill as much as the law allows.
Help you take care of your tax administration and compliance duties.
Claim any refunds due for you.

Quarterly VAT Returns

Legislation on VAT is complex detailed and considerable. We can help you make sense of the VAT regulations as they apply to your business and where (in the most obscure of cases) we don’t know the answer ourselves, we have access to people who do – making sure your business stays on the right side of the law.

Businesses with annual sales above the VAT threshold of £85,000 must register for both VAT and Making Tax Digital – but there can sometimes be advantages for businesses below the threshold to register for VAT too. Here at Five Rivers, we can help you evaluate your options so you always make the best decision for you.

Fiver Rivers can help with:

Ensure your business complies with VAT registration rules.
Where you have the choice, give you the best advice on whether VAT registration is the right option for you.
Help you account for VAT correctly where you need to.
Prepare and submit your quarterly VAT returns.

Five Rivers Chartered Accountants in Rugby 'Tax Returns'

Corporation Taxes

All companies pay corporation tax irrespective of size but recent changes announced by the Chancellor have meant that the amount of tax you pay will vary depending upon the level of profitability of the business. We can take away your corporation tax headaches and ensure that.

Your Corporation Tax returns are correctly completed and submitted on time.
Capital allowances claims are properly made on all qualifying capital expenditures including any claims for Super deductions and AIA's.
Any loss relief is claimed and used in the most tax-efficient way possible.

Construction Industry Scheme

If you work in the construction industry, it's quite probable that you need to deal with the rules of the Construction Industry Scheme. If you are VAT registered too, you will doubtless also be a little worried about the recently introduced requirements around applying the VAT reverse charge. We can take all of that worry away from you and help you deal with your CIS concerns by making sure that:

Your subcontractors receive their payslips on time.
Your CIS returns are submitted to HMRC on time.
Your invoices are fully compliant with the recently introduced reverse charge regulations (if they apply to your business).
All of your CIS deductions are properly reflected in your tax returns and any refunds are remitted back to you.

Construction Industry Scheme - construction worker with hammer

Client Testimonials

We have worked with Syd, over the past couple of years for the Nursery accounts which can be demanding. He has also helped to navigate our way through covid and any grants or insurance claims we have put in. Gives great practical strategic advice to help move the business forward.

Harvey Kalsi

Cherry Tree Nursery, Coventry

I cannot recommend Syd enough. He is so much more than your average accountant, goes above and beyond. Extremely knowledgable & professional. Worth his weight in gold.

Stacey Blair

The Styling Rooms, Rugby

Syd is very professional and knowledgeable, When you talk to Syd you feel he has a genuine interest and understanding of your business and that he always is working in your business best interests. Nothing ever appears to be too much trouble and his support not only during Covid was more than you would hope for. He goes that bit further, gives very sound and good advice and makes you feel that things are achievable. He will always respond to you contacting him quickly. We have no hesitation in recommending Syd.

Ellen Colton

Woodford Halse Garage, Daventry

Syd is the best accountant I’ve ever had the pleasure of working with. Truly genuine, professional and really really cares about your business. Always goes out of his way to help you understand everything. Couldn’t recommend him highly enough.

Sarah Christensen

Jokers Corner, Coventry

Syd’s breadth of knowledge in the finance field is immense. I was lucky enough to work in Syd’s team at RS components and have seen how he can deliver results with a no-nonsense approach. Syd is a fluent communicator and has the ability to build strong and loyal relationships with those both who he works alongside and those who work for him.

Claire Flinders

Mojo Accounting, Blaby

Taxation, VAT & CIS