Frequently Asked Questions

Please get in touch if you have a question of your own.

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Can you help with TAX and VAT returns?

Yes! We can make sure that you are calculating tax correctly, claiming all the available allowances and concessions, completing the necessary paperwork and making sure that it is lodged with the authorities on time. Our team of qualified, specialist staff can help with everything from accounts preparation and bookkeeping to payroll services, tax and VAT returns.

It is very important that returns are dealt with effectively, as there are penalties in place, if you are even a day or two over the time limit of paying these taxes. Our tax service is designed to ensure you are calculating TAX and VAT correctly, all returns have been submitted on time and that you are not paying too little or too much tax.

Do you offer help and give any advice on inheritance tax?

Yes we can! No matter what your circumstances, the way in which an inheritance is dealt with depends – to a large extent – on the planning that was done beforehand. Let’s talk and we’ll help you plan for the future! Ni matter what the sum of money is, it is important that inheritance sums are dealt with properly. This may come in the form of property or a lump sum of cash, either way, one day we won’t be around anymore to handle our affairs. Let’s make sure that everything is how it should be. Contact the inheritance tax experts in Lydney.

Do you help small and large businesses with their finances?

We sure can! We can provide everything you need, including day-to-day bookkeeping, corporation tax help, auditing, overseeing N.I. PAYE, pensions and handling employee queries. Especially if you are a large business with many employees, you may not have the time to complete all of this work. We can help you to forecast your cash flow, monitor your break-even point and provide you with monthly or quarterly management reports if you wish.

Do you provide assistance when it comes to income tax?

When they issue your tax code, the tax authorities don’t always get it right. Mistakes are made and over or under payment can easily occur. This is where you could be entitled to tax refunds. By entrusting Makinson & Co with your tax affairs, you can rest assured that you and your staff will pay the right amount of tax, ensuring everything is running as smoothly as possible. This specialist attention means you can ask any question you wish surrounding your income tax, and we will be able to provide the answer for it. Perhaps you are selling a house and not sure about the tax implications, or maybe you are planning your retirement and want to start thinking about inheritance tax. If so, call us for a free initial consultation.

How can I save on tax?

There are plenty of ways we can be reducing our tax bill legally, whether you’re self-employed, an employee, investor, pensioner, or landlord. Our top picks are:

  • Claiming tax credits
  • Contributing towards pension scheme
  • Meet tax return deadlines
  • Maximise personal savings
  • Have an ISA allowance
My business needs an annual audit, can you help assist this?

We can produce audited accounts which have to be logged with the authorities, meaning you don’t have to worry. The information contained in those accounts and returns must be accurate, or there can be serious repercussions. So don’t take risks.

We will help you all through the financial year, not just at the year end when everything starts to get hectic. If you require assistance at any time, we are on hand to answer your questions or queries. You can run your business much more effectively if the information at your fingertips is accurate and up-to-date and that’s where we come in.

This means monthly management accounts with accurate profit and loss measurements, accurate sales and purchase ledgers and a bank account that is properly reconciled.

Contact us today

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