Business Accounts and Taxation Services
At Tax Driven Accountants, we provide a full range of fixed-fee accountancy and tax services for businesses with a turnover of up to 10 million pounds.
Be Prepared with Expert Taxation Services
Our team of expert accountants will ensure that all of your accounts are prepared in the correct format and that you meet industry standards. As part of our accounting services, we will update your company records and accounting system on time. This will help you avoid any regulatory issues, including corporate tax compliance.
Company Operations and Implementing Strategies
We will give you a clear outline of all activities in your organization. This will help you understand all outgoing expenses and current processes. We will also implement strategies to help optimise your tax situation and meet legal tax obligations.
What's Involved
Efficient Tax Planning
By utilising allowances, deductions, and credits, we can formulate strategies to effectively minimise tax liabilities while adhering to legal regulations.
Compliance and Regulations
We will ensure that all tax returns, payroll and VAT submissions meet the necessary legal requirements.
Streamlining Business Accounts
We will maintain detailed, accurate and organised accounts for audits and financial analysis.
FAQS
Do limited companies pay 40% tax?
As per the new 2025/26 tax year, Corporate Tax rates for UK limited companies are as below:
- Companies with small profit rates (19%): these are the companies with profit rates up to £50,000.
- Main rate (25%): these are companies whose profit rate goes above £250,000.
- Marginal relief: these companies have profit rates between £50,001 to £250,000. The marginal relief policy provides a gradual increase in the Corporate tax rate from 19% to 25%.
There is also a 40% tax rate applicable but that is for individuals and not corporate tax for companies. These rates have been in effect since April 1, 2023.
Get in touch with us to know the more accurate figures for your business.
How do I avoid 25% Corporation Tax?
Here are some strategic measures to avoid UK tax liability:
- Claim all allowable business expenses: ensure that you note and claim every legit business expense. Over a period of time, these can accumulate and reduce the taxable profit.
- Pay a salary to yourself: If you are the director of the company, paying a salary to yourself can reduce the business expense. This can reduce the taxable profit, and thus, the Corporate Tax liability.
- Invest in equipment and assets: You can use the Annual Investment Allowance (AIA) to deduct the value of assets, like any machines/equipment from the profits before getting taxed. You can use this savings for reinvestment in the business.
- Make the payments early: Pay your Corporate Tax ahead of the deadline. This may result in HMRC paying your ‘credit interest’ and thus reducing the tax liability.
Do you pay less tax as a sole trader or Ltd company?
If you pay less as a sole trader or LTD company depends on profit. Sole traders have to pay income tax on all their profits which can go up with increase in income.
On the other hand, limited companies often pay less if profits are higher. This is due to lower Corporate Tax rates and dividend options.
How much dividend can I pay myself tax-free?
For the 2024.25 tax year, you can receive up to £500 in dividends which can be tax free. This is also known as the dividend allowance.
Dividends that are above this amount are taxed at 8.75% (basic rate), 33.75% (higher rate), or 33.35% (additional rate). These tax rates depend on your income level.
At Tax Driven Accountants, Our Priority is to Offer Fair Pricing and Deliver Fantastic Results For All Our Clients.
Experienced
Our enthusiastic staff has years of experience and knowledge. We’re here to provide excellent service and expert guidance every step of the way to ensure that you receive the best possible advice.
Trustworthy
We know how time-consuming running a business can be, so rest easy knowing that a team of expert accountants will keep your accounts and tax affairs in check.
Qualified
All of our staff are fully qualified experts in their field, so you can trust that you are receiving sound, educated advice that you can act on.
