The year end accounts provide invaluable information about your business and are particularly useful if, for example, you wish to make a mortgage application or raise finance.

We can advise you on how to strengthen your record keeping procedures which in turn will help you run your business more effectively. Having accurate, timely management information can assist you in managing your stock levels, your customer balances owed, your supplier balances due and your cash flow.

Your accounts will be prepared in accordance with accounting standards and we will check that you are claiming everything you are entitled to.

Whether you are a sole trader, partnership or limited company, letting us prepare your year end accounts will relieve you of what can be an extremely stressful and time-consuming exercise. Our Accounts Department offer competitive pricing with flexible appointment times and are dedicated to offering a professional, friendly service.

The UK has one of the largest tax codes in the world, so preparing even the most straightforward tax return can be complicated. There are various deadlines and responsibilities for taxpayers to be aware of.


The most common reasons that a tax return may be required are as follows:

• You are self employed or a partner in a partnership.
• You are a company director.
• You have large amounts of savings or investment income.
• You have untaxed savings or investment income.
• You own land or property that is being let.
• Your household receives Child Benefit and you have income in excess of £50,000.
• You have income from overseas.
• You have sold or given an asset away (such as a holiday home or some shares).
• You’ve lived or worked abroad or aren’t domiciled in the UK.

The staff at HM Revenue & Customs are not tasked to advise you on how to organise your affairs and minimise your tax. Therefore, if you want to make sure you are paying the right amount of tax, you should consult a professional.

At MA Associates we use HM Revenue & Customs-approved software to:

• Complete your tax return.
• Calculate your tax liability.
• File the return online.
• Liaise with you on the amounts to be paid and when they are due.

As part of the above service, we can analyse your self assessment tax return to see if any tax savings can be made and we can also review the form to see if there are any anomalies that need to be addressed before the return is submitted. This process helps to minimise your risk of a HM Revenue & Customs enquiry into your tax affairs. If you are experiencing cashflow problems, we can explore the possibilities of deferring your tax payments or negotiating a payment plan with HM Revenue & Customs on your behalf.

By giving you a fixed, competitive price, we can take the worry away when it comes to self assessment tax returns; allowing you to concentrate on running your business.

If you're just starting out, we can help you decide whether you need to be VAT registered from the outset or not. And we will continue to monitor your situation, so that should it become obligatory for you to register for VAT, we can deal with all of the paperwork for you. In contrast, we will also monitor your position for when we think you are able to and would benefit from deregistering.

Whether a new or existing business, we will also look at the VAT schemes you are eligible for and establish whether you would be better off adopting one or a mixture of them. Some VAT schemes can lead to tax savings and a reduction in bookkeeping responsibilities.

We can prepare your VAT return; either from your own bookkeeping records or we can take care of your record keeping and the VAT return. And we will try to ensure that you claim as much VAT as possible; particularly on contentious items such as mixed-use expenditure and motor running costs.

As with other areas of tax, we can act as your Agent for VAT purposes and therefore correspond with HMRC or your behalf. Paper VAT returns are pretty scarce now but our software also allows us to file your VAT returns online with HMRC.

Needless to say, late VAT registration, errors, late VAT returns and late VAT payments can all lead to penalties and possibly interest being charged. So allowing us to take care of your VAT affairs, not only gives you peace of mind, but it should also avoid you wasting your hard-earned cash on penalties and interest.

Every limited company that is based in the UK is subject to corporation tax on their profits. Limited companies that are non-UK based can in some cases still be expected to pay corporation tax if the central control and management of the company is carried out within the UK.


If your company is liable for corporation tax, you must calculate how much profit your company makes for each accounting period and how much corporation tax is payable on those profits. This information must be reported to HM Revenue & Customs on a corporation tax return form and accounts and tax computations must be submitted to HM Revenue & Customs in support of the return. There are strict penalties for filing late returns and interest is charged on tax paid late, so it is important that the deadlines, which are determined by your company's annual accounting date, are adhered to.

Our accountants can assist with the preparation of company accounts, company tax returns and tax computations and will also be able to provide advice on any tax planning areas that may benefit you and your company.

Individuals are charged Capital Gains Tax in respect of gains made from selling, transferring or otherwise disposing of assets.


There are many common assets that can be subject to Capital Gains Tax (CGT) when they are disposed of, such as stocks, bonds, precious metals.

The legislation for capital gains tax is a very complex area. There are many reliefs and exemptions which may lead to significant tax savings. It is therefore recommended that you seek the advice from our specialised Accountants, who will be able to prepare your capital gains tax computations, claim any reliefs that you may be entitled to and calculate any liability that may be due.

If you are considering selling a personal asset or all or part of your business, we can advise you of the tax planning opportunities available to you before you make your disposal, in order to mitigate or reduce potential tax liabilities.

Inheritance tax is complex – and expensive.

Your estate could be liable to pay inheritance tax at 40% on all your worldwide assets, except for the first £325,000 (£650,000 if you are married or in a civil partnership).

The actual amount of inheritance tax your estate will have to pay depends on many factors like –

• your domicile – the country HMRC deems to be your home for inheritance tax purposes (which is not necessarily the same as your domicile for income tax purposes).



• your marital history.



• the location of your assets in the UK and around the world.



• the composition of your estate – property, cash, stocks, shares, art, antiques etc. For example, if you have assets abroad, they will be liable to UK inheritance tax if you are domiciled here but not if your domicile is another country.

Or – to give just one other example – if you have been widowed, you may be eligible to transfer your spouse’s nil rate band, even if you lost your spouse as long ago as WWII.

Specialist advice for planning your estate efficiently. By structuring your estate tax-efficiently, HMRC’s claim on your estate could be minimised so your loved ones receive more of your wealth.

This may reduce the need for your beneficiaries to sell your assets quickly in order to meet inheritance tax bills. It should also reduce the amount of paperwork for them and avoid costly disputes with HMRC.

Employment red tape can be intimidating, but we can guide you through the processes, costs, calculations and deadlines- or take care of everything for you!


Meeting your obligations as an employer can be incredibly daunting especially with the introduction of Real Time Information (RTI). RTI means employers will now share information with HMRC on-or-before payments are made to employees.All payroll processing will happen via HMRC-approved and RTI-compliant payroll software.

We can also set up an Employers' Scheme with HMRC for you and we can advise you of whether employees should be added to the payroll or not and deal with the relevant forms/ submissions for you. Throughout the year, we will calculate your employees' net pay, report the figures and information to HMRC and provide you with payslips to pass on to your staff. We can calculate the tax and National Insurance deductions applicable; even if your employees are on sick, paternity or maternity leave. We can also help you to keep track of their holiday entitlement and can file all the starters and leavers forms on your behalf. Late payments or underpayments of employers' deductions can now lead to hefty penalties, so we can help you avoid incurring these.

We can also prepare your benefits and expenses forms and advise you of any filing requirements or National Insurance that falls due. Benefits and expenses can be a very complicated area and knowing what and where to report can be tricky, but we can relieve you of the burden.

We can file all of your in-year and year end returns for you with HMRC and provide you with P60s to distribute to your employees at the year end.

The responsibilities faced by employers can be intimidating, but we can guide you through the processes, costs, calculations and deadlines and take care of everything for you.

MA Associates can provide accurate and comprehensive small business bookkeeping services tailored to suit your specific business needs. .


All businesses are required to keep accurate records for both taxation and VAT purposes. Good bookkeeping practices also benefit the business by helping you manage and control your finances, plan for future growth and ensure that your accounts are completed more efficiently, which should in turn avoid late filing penalties.

. We can offer a range of options:

• A handy wallet for you to keep all your receipts in, which you can deliver periodically to us. We can then take care of your bookkeeping for you and return your paperwork to you when we've finished processing it.



• Excel workbook for you to tailor and use to record your transactions into. The workbook also has a basic Profit and Loss Account and VAT return calculations included within it.

We will explain what records are required and consider what your accounting information needs are, all in relation to the resources you have available; to ensure you have a bookkeeping service that suits you and your requirements.

We can also prepare regular management accounts to help you manage your finances, your customer account balances, your supplier account balances, stock levels and if you are trading as a company, they will allow you to plan your dividends. Management accounts can also identify slow-moving or unprofitable goods or services, bad debt and surpluses or deficiencies in resources, so they can be a powerful aid in decision making.

With our experience, we can easily take away the hassle of bookkeeping. We offer fixed competitive fees that are payable monthly so that you can spread the costs.

Here at MA we offer a great range of property tax advice specifically for landlords or those with second properties.

If you receive rental income that exceeds your total expenses, allowances and reliefs, then you are required to pay tax on this income by submitting a tax return.

If your rental property generates a loss, you may want to voluntarily disclose it because this allows you to make use of the loss in the future should the property turn profitable.

What can our Landlord and Property Rental Accountants do for you?

Our Landlord and Property Rental Accountants can offer you a wide range of services to support, guide and advise you with all the aspects related to your rental activity:

• Self Assessment tax return.



• Rental accounts.



• Capital gains tax planning.



• Annual landlord tax savings review.



• Comprehensive property tax advice, planning and consultancy.

Are you aware that HM Revenue and Customs no longer need a reason for opening an enquiry into your business or personal affairs? This means that potentially everyone is at risk of a tax investigation.

How can I avoid an investigation by HM Revenue & Customs?


The best route for avoiding an investigation would be to employ an accountant first and foremost. Using an accountant should ensure that your return is accurate and complies with the UK tax regime. We also use specialist software which will analyse the completed tax return to check for anything which may arouse suspicion by HM Revenue & Customs.

HM Revenue & Customs do, however, carry out a number of random investigations which are, unfortunately, unavoidable. So even if you believe that there are no unusual entries in your accounts or on your tax returns, an investigation could still happen to you.

From time to time when an investigation is opened by HMRC, our years of experience dealing with HMRC will help us support you and/or your company in order to efficiently bring all matters up to date and to the Revenue's satisfaction.

If you have been earning income through self-employment or property but have failed to declare your income to the HMRC for last few years, we here at MA specialise in dealing with such cases and working backwards to construct such accounts.

Whether the reason you failed to declare your income was through fear of not knowing where to start, or simply not knowing you were expected to declare it, our team of professionals will carefully breakdown your situation and together with your co-operation, aim to find the best solution.

Hassle-Free CIS and PAYE Tax Rebate Services

We all want to save time and get more for our money. So, when it comes to your tax rebate, why should you settle for anything less?

At MA, we guarantee to get you the best tax rebate we can, in the fastest time possible, all in line with HMRC guidelines. Our expert tax team has worked with thousands of construction workers on their tax needs over the last 25+ years. So we know a thing or two about the world of tax.

Construction Tax Rebates Maximised by the Experts

Tax can be a lengthy and complicated process. Aside from trying to work out tax jargon like your 64-8’s from your P11D’s or how much you’re owed, it’s also about how much you value your time.

Why not maximise your tax rebate the smart way? Our experts tailor each claim to every builder’s needs, as we know every snag list is different. So, whether you’re scaffolding in Luton, bricklaying in Richmond, or welding in Chiswick, we’ll see to it that you get the maximum tax rebate you are owed. With prices starting from £195 for a full professional service, you won’t regret getting in touch.

Refer a Friend Scheme

It Pays to Be Popular with MA. If you’ve received your tax rebate, are happy with our service and have friends, colleagues or family who could also do with a tax rebate, why not let them know about us? Every time you refer someone to MA, we’ll give you £50 once they receive their tax rebate. Cash in your pocket every time.

Are you going to launch your business as a sole trader, partnership or limited company? Before you choose your business entity the following should be considered:

• 1. Commercial risks.



• 2. Expected profitability.



• 3. Financing.



• 4. Use of car for business purposes.



• 5. Tax planning preparation.



• 6. Possible VAT implications


Business Plan

Have you set out your business objectives in writing? Can you demonstrate qualified experience in the type of business that you want to launch? How are you going to finance the company? What are your expectations for sales, profitability and investment in assets? Have you consolidated all this information in a formal business plan?

Even if you don't want to borrow money, a good business plan will help you to understand your current position and give you a good indication of your future possibilities. At MA, we know that a good business plan is imperative to your business, especially given the current economic climate.

Identify your "friendly bank manager" as they can be one of the most important contacts for your business. Fortunately, here at MA we already have well established relationships with all the major banks in the UK and are able to help you prepare for your first and subsequent meetings.

You should decide whether or not it's in your best interest to register for VAT from the time of starting up. Whether you decide to register now or in the future both the profitability and the cashflow of your business will be affected.

One of the main advantages of registering for VAT when you do start-up is you'll be able to reclaim VAT on purchases made before you start trading. Don't worry though, if you find it's best to register at a later point in time HMRC have made it possible for traders to reclaim VAT prior to their registration provided the claim is made within certain time limits. For further guidance on VAT registration please see our VAT section.

• Tax Penalties - As soon as you have set a start date, ensure that you notify HMRC of your intention to commence trading. Self-employed individuals, partnership businesses and limited companies face penalties for failure to notify HMRC that they are liable to tax.



• VAT Penalties - Do not represent yourself as registered for VAT if you are not, as this is considered to be fraud. If you do register for VAT submit your returns and pay your dues on time to avoid late filing penalties, interest and surcharges.



• Missing Invoices - Always obtain a proper invoice for any business purchase and a VAT invoice if you are registered for VAT. If you fail to do so, you may find that your claim for tax relief will be denied, as will your VAT reclaim.



• Company Car - whether you are self-employed, a member of a partnership or operating as a limited company, planning for the use of a car in your business needs to be thought through carefully. Self-employed individuals and partners will need to keep a log of business mileage to backup any claim for tax relief. Limited company owners will need to compare whether the cost of using a car owned by the company will be more cost effective than using a privately owned vehicle for business purposes. The tax implications vary considerably depending on many factors, which is why a careful review should always be undertaken in order to minimise any tax charges and maximise any reliefs.

• Limited liability - as explained above, the company is a separate legal entity and this can protect your personal assets from business creditors if for any reason the company is unable to clear all of its debts and has to cease trading. Operating as such is especially useful if there are significant risks associated with your business activity.



• Due to the Limited Liability discussed above, companies look like a more secure prospect to investors. Additionally it may be easier to borrow money and raise capital to re-invest into the business in the future.



• Status - the business artificially looks bigger and more professional.



• Succession of shareholders is more straightforward.



• Tax efficiency - trading as a limited company can be more tax efficient for a number of reasons. We will happily discuss these with you when the time is right.

• More cost - the professional costs for setting up the company and for preparing company accounts and tax returns can be higher than those you would expect to pay if you were self-employed. There are then additional costs involved with various Companies House requirements.



• Companies must file their accounts and various other documents on public record with Companies House, so companies have less privacy than unincorporated businesses.



• As a general principle, you tend not to have 'mixed-purpose' expenditure by a company; it either is for business purposes; or it's not. And recognising mixed-use assets or expenditure can trigger tax charges on the relevant employees/ directors.



• Any losses generated by a company, belong to the company. Therefore, they cannot be utilised by the directors or shareholders.



• Audit requirement - If your company exceeds certain limits, or is in a particular trade sector, an audit may be required thus incurring further costs. We can advise on this, but most small companies will be exempt from annual audits.

If you do own and personally use more than one property in the UK, it is possible to make an election to nominate which property should be treated as your main residence for tax purposes.

We can advise on the implications of making such an election, the qualifying conditions that must be met and help to decide if it would be beneficial for you depending on your personal circumstances.

There are strict time limits for making this election, which has to be filed with HM Revenue & Customs, so it is important that advice is sought promptly.

If you have Capital Gains Tax to pay, for example because you've sold or given away a holiday home or second property, you will need to complete a tax return We can advise you on any tax planning opportunities available, in order to minimise your Capital Gains Tax liability.

We can also calculate your Capital Gains Tax liability and complete your tax return for you.

If you rent out property you will pay income tax on the difference between the rents you have charged in a tax year, less any allowable expenses and charges. We can help you to make sure that you are claiming all of the expenses and reliefs you are entitled to.

Knowing what maintenance and repairs can be deducted can be tricky, because there are a number of different methods that can be used depending on your circumstances. We can discuss your options with you and make sure that you make the right choice in order to optimise in a way that fits your needs.

We can also make sure that you are claiming all of the finance costs for any loans or mortgages you have on your properties, as again, this can be a complicated area and taxpayers can miss out on valuable tax relief.

Significant changes were made to the treatment of Furnished Holiday Lets (FHLs) for tax purposes in April 2012. The conditions in order to qualify for such treatment are now more stringent and the benefits have been reduced.

But we can advise you on the qualifying conditions and the implications that such status entails for your properties.

If you let rooms in your own house, you may not pay tax if the total rents charged are under £4,250 per tax year.

But there are conditions in order to apply this exemption, which our Accountant can discuss with you.

We can provide you with advice regarding all tax aspects of buying, selling and letting property. We have only included a few areas for you to consider on this web page.

If you are about to invest in, dispose of, or let property do give us a call.

Business Management is essentially all the administration and paperwork bits you, as creators, don't want to be bogged down with. It can be time consuming and it's very often the one thing that stops you being able to focus on your own core business which is being creative. It is, however, a vital part of your business and requires a diligent approach. That's where we come in. We will handle all of your day to day financial administration. We'll pay those who need paying, chase people who need chasing - (we can be very firm but fair when needed!) and keep your books in order. We can sort out insurance from your home or studio where standard high street insurance wouldn't touch you with a barge pole. We can do as much or as little as you like. Generally we take on more and more of our clients financial administration as our relationship and their business grows.

• BANK ACCOUNT SET UP AND MANAGEMENT.



• CREDIT CONTROL (RAISING INVOICES, CHASING DEBTS).



• BOOKKEEPING.



• INSURANCE (HOUSE, CAR, EQUIPMENT, STUDIO ETC).

We always respect the confidentiality of our clients and their business so you'll never see us flashing names about the place. And that confidentiality will also apply to you. What we can tell you is the types of clients we have and say that they range from fledgling creators and businesses to global artists and companies.



ARTISTS.

SONGWRITERS & COMPOSERS.

PRODUCERS.

MANAGERS.

PUBLISHERS.

LABELS.

EVENT AND FESTIVAL ORGANISERS.

MERCHANDISERS.

MEDIA SERVICES.