Tax


HMRC’s advertising campaign a few years ago had the strap line that ‘tax doesn’t need to be taxing’, but for many perfectly intelligent and educated people negotiating and understanding the legislation, trying to make sure they’re only paying what they need to, without falling foul of the regulations can be extremely taxing!

In this section, as with all of the Tax services and advice that we offer, our goal is to simply and demystify the world of Tax (and Accounts) so that clients no longer have to worry about those brown envelopes that arrive on the doormat.

They don’t need to worry about deadlines, or unexpected tax bills that mean they have to find large sums at short notice. Similarly they know they don’t have to dread HMRC making contact, as they’re automatically included in our Fee Protection Scheme so know we’ll deal with anything that comes up.

The posts and articles in this section are summaries of announcements and an attempt to translate them. They aren’t intended to be any form of substitute for a conversation between us! The complexities of the UK Tax system are such that a small misinterpretation can have drastic results, so we would always recommend that you speak to us before you take any action based on the content in this, or any other section.

If you’re reading this but aren’t currently a client, hello! Please take the information of interest to your current advisor and check that your understanding is correct and that any implications for your own, unique situation are positive. Of course, if you’d like to have a chat with us, please get in touch; we’re always happy to talk.

This section includes posts and articles relating to more general tax matters, whilst we have separate sections for the distinct tax categories that you may want to visit via the Tax Hub.

How can HMRC modernise its tax debt collection?

As one of the announcements from TAM Day 2021, the Government is considering how HMRC can modernise the methods it uses to collect debts. This is to ensure it is taking account of the changing nature of the economy and new business practices.

How long must I keep my records for?

Whether you’re a large business, a small business or a taxpayer with a small tax return, there are rules around how long you must keep your records. Are you unsure how long you must keep them, and in what format?

Why not take a look at these sections too, as there is some overlap between our categories and we’d hate you to miss out!

Limited Company

Management & Growth

Glossary

Each of our clients receives regular updates that keep them aware of changes and suggestions; if you’d like to receive those too, just click on the button below, add your details and we’ll do the rest!

Can I just say we are so pleased that we have moved to Baranov Associates. As we discussed when you visited, we had to find a way to take the stress out of all of the financials and you’re doing that for us! We can see how to use Xero more efficiently and so with us being as on top of it as we can be and with you and Liz we feel a lot more confident about our business being in good shape.


Mrs S James, Sandbanks Capital Partners Limited

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