Taxation is one of the most significant business obligations faced by any UK business and yet it is also one of the areas where the gap between businesses with professional tax support and poorly-advised ones is most stark. The UK tax code is vast, complex, and in a constant state of evolution. Business owners who rely on a reactive approach simply paying whatever bill arrives from HMRC at year end almost invariably overpay. Businesses that work with experienced tax professionals who understand their business structure, cash flows, and growth plans can manage their tax obligations accurately and make use of applicable tax allowances.
At ABS Consultings, our tax management philosophy is fundamentally proactive. We don’t wait until the end of the tax year to think about tax. We provide ongoing tax support and help businesses prepare their tax requirements throughout the year, not commiserating after you’ve missed an opportunity.
Corporation tax is the primary tax liability for UK limited companies. The main rate is currently 25% for companies with profits above £250,000, with a small profits rate of 19% for companies with profits below £50,000 and marginal relief for those in between. Navigating these rates correctly and applying all available reliefs requires careful calculation and timely planning.
Our corporation tax service includes accurate CT600 preparation and submission, identification and claim of all relevant capital allowances (including the Annual Investment Allowance and super-deduction legacy claims), research and development (R&D) tax credit claims, loss relief planning, group relief optimisation for multi-company structures, and support with accurate tax treatment and documentation of major business expenditures.
For company directors, sole traders, partners, and high earners, self-assessment tax returns are an annual obligation but also an annual opportunity. Our personal tax service supports company directors, sole traders, partners and high earners with accurate income tax and National Insurance calculations, preparation and filing of self-assessment returns, and required tax documentation, the preparation and filing of SA100 returns and relevant supplementary pages, salary and dividend reporting support for directors, pension contribution timing for tax relief, capital gains tax calculation and reporting for applicable disposals, and inheritance tax compliance considerations for business owners.
VAT is often where businesses make their most costly tax errors. Mis-categorised supplies, incorrect partial exemption calculations, errors in the VAT treatment of international transactions, and misunderstood reverse charge rules can all result in significant assessments from HMRC often with interest and penalties applied.
Our VAT service covers VAT registration support (including the threshold, when voluntary registration benefits you, and the implications of deregistering), VAT scheme review and compliance support, quarterly VAT return preparation and MTD-compliant submission, VAT health checks for businesses with complex supplies, partial exemption calculations, and support with HMRC VAT enquiries.
Research and Development tax relief is one of the most generous tax incentives available to UK businesses and one of the most consistently underutilised. Many businesses that are carrying out qualifying R&D activities simply do not realise it. The qualifying criteria are broader than most business owners assume, encompassing technology development, process innovation, software engineering, product design, and scientific research.
ABS Consulting has a specialist R&D tax compliance team that reviews qualifying activities and prepares the required supporting documentation, prepares the technical and supporting documentation required for a compliant claim, and manages the HMRC review process. Our clients have recovered significant amounts through R&D claims funds that have been reinvested directly into product development and team growth.
HMRC conducts both random and targeted tax enquiries across all business types. Receiving an enquiry notice is unsettling, but with experienced advisors on your side the process can be managed calmly and efficiently. ABS Consultings represents clients throughout HMRC enquiry processes handling all correspondence, preparing responses to information notices, attending interviews where required, and negotiating settlements. We recommend that all clients hold tax investigation fee protection insurance as part of their annual engagement with us.
Tax Compliance Support Throughout the Year
The most effective tax management starts months before your year end not after it. ABS Consultings proactively reviews your tax position each quarter and identifies relevant compliance requirements and applicable tax allowances while there is still time to make a difference.
Corporation Tax: 19%–25%
VAT Standard Rate: 20%
Personal Allowance: £12,570
Capital Gains Annual Exempt: £3,000
ABS Consultings takes a proactive, year-round approach to UK tax management. Let us find the reliefs you’re missing.