PAYE stands for Pay As You Earn. This means as you earn more  money above the annual personal allowance; HMRC’s system will collect income tax that helps to pay for civic duties such as; social health care and education. They also take national insurance contributions from your earnings that help to pay for state pensions at a pensionable age. At NMR accountants, we promise to provide you with PAYE guidance and assistance. Our employees are also highly experienced in this field.

CIS is a HMRC scheme which applies to self employed workers under the construction industry. Despite being charged for tax with this scheme, depending on your situation it would be avoidable. We at NMR accountants can help you figure out whether you are eligible to pay tax or you can get away without paying it. We can also advise and guide you on how to pay your taxes while mentoring you regarding how to manage incoming taxes.

Self assessments returns are used to quantify how much tax you owe from your earnings in the past year. Self assessment returns can look very daunting which is why we at NMR accountants, can help you complete your self assessment return and submit it to HMRC on your behalf. We can assist and guide you whilst doing your self assessment returns. Personal tax computation is very similar to this as it is just working out your tax liabilities. NMR accountants can accommodate help with your personal tax computation.

VAT is value added tax, which is essentially tax to goods and services you would buy. They are usually found on most items that would be bought. Some examples are general tax and consumption tax. It is practically impossible to avoid VAT although it can be broken up and less expensive when dealing with your own products or services. We can help you get through struggles with VAT and advise you to correct solutions. Here at NMR accountants, we can also help organise  your VAT returns and manage your output on taxable goods or services  and more.

Taxes such as VAT, PAYE, Income Tax are common however these do not bring  great benefits for you and your company. At NMR accountants we offer ongoing tax advisory that will help you organise your taxes and work out your outstanding tax liabilities beforehand. So that you can avoid any penalties, surcharges and interest. Our employees are very helpful and experienced in understanding complexities within taxation. They are keen to help you sort out your tax affairs and advise you in streamlining your new business adventures.

Once you have sold an asset in your possession for more than you have paid for and have made profit, you could potentially be eligible for capital gain tax. You don't get taxed on a certain threshold however, you get taxed on what you have made at disposal, this is called capital gains tax. There are ways around Capital Gain Tax and we are here to help you figure out how to work through or around Capital Gain Taxes. We will always be at your assistance.