It may come as a shock to discover that a large proportion of your wealth might be subject to Inheritance Tax (IHT) when you die. This includes all of your assets such as the family home, investments, life assurance plans not in Trust and even old family heirlooms. Your estate will be subject to IHT if, when you die, if it exceeds the individual nil-rate band which currently stands at £325,000. Calculating how much your family will have to pay is often, although not always, simple. We have built a strong team of qualified professionals who are passionate to provide the best services for your Inheritance Tax.
Our Services
Self Employed
Self Employment is the simplest way to start a business; it doesn’t involve any government registration fees. If you start working for yourself, you’re classed as a sole trader. As a self-employed, you will have to register within 3 months with HM Revenue & Customs. If you need any help with self-employed registration. Please let our accountants for self-employed guide you.
Subcontractors
KSM specialises in providing customised in-house services, including CIS registration assistance and assistance. In accordance with the Construction Industry Scheme (CIS), contractors are required to enrol in this scheme. You do not need to worry as we will take care of everything from CIS deduction to claiming it back from HMRC when we file tax returns on your behalf and tax refunds.
Landlords
Our team of highly skilled Landlord Accountants possess specialised expertise in providing guidance on essential accounting records and investment strategies for maximising rental gains. It is crucial for you or your company to fulfil tax obligations by paying taxes on the profits generated from property rentals, while taking into account allowable expenses that can be deducted.
Non Resident Landlord
A non-resident landlord (NRL) are subjected to 20% tax deduction at source. Our team of specialised accountants possesses the expertise to facilitate your registration with HMRC, resulting in the elimination of tax deductions at the source. We are fully equipped to provide comprehensive assistance in the preparation and filing of your tax returns.
SPV Company
Due to section 24 interest restriction on property loans, the majority of the people in the UK are setting an SPV to buy the properties to use interest as an allowable expense under the limited company. If you’re planning to set up an SPV, or already have an SPV our accountants can help you. While choosing an SPV a qualified accountant is important because there are different disclosure requirements under FRS102 and FRS 105.
Charities
We possess a comprehensive understanding of the distinctive nature of accounting services for charitable and non-profit organisations. The intricacies and fluidity of accounting challenges faced by charities and not-for-profit entities necessitate the expertise of a qualified accountant who specialises in this sector. By engaging our services, you can be assured of receiving the exceptional level of support and guidance that you rightfully deserve.
Capital Gains Taxes
VAT Registration and Returns
If you have reached the threshold for VAT registration or are considering voluntary registration, KSM is the premier resource to guide you through the intricate process of registering with HMRC. With a specialised focus on VAT registration, our team of qualified professionals is well-equipped to handle the preparation and submission of VAT returns, including standard VAT and alternative schemes such as second-hand products marginal VAT. Trust in our expertise to provide comprehensive assistance in navigating the complexities of VAT registration.
Payroll
We offer an online payroll service at an affordable, fixed monthly, with our service, you will receive unlimited assistance from a dedicated payroll clerk who will handle all aspects of employee payroll documentation. Additionally, we take care of all interactions with HMRC and ensure timely filing of your RTI returns. To further streamline the process, our system sends automated email reminders for your payroll periods. Trust us to provide expert payroll services with efficiency and professionalism.