The Accountancy Hub

05/04/2025

From tomorrow, the tax return window is officially OPEN

CIS subcontractors should be racing to get their tax returns in as soon as possible to expedite those refunds. 🔜

Many cis subcontractors will complete their own self assessment. Whilst fine, paying for a professional to prepare this for you offers incredible value for money:

1️⃣ Have the assurance your tax return is COMPLIANT. Many tax payers are not familiar with what constitutes as a “business” expense and commonly, ineligible expenses are claimed.

This could land you in hot water if hmrc review your return closely

2️⃣ Ensure your return is TAX-EFFICIENT and your refund is therefore MAXIMISED. A good tax professional is aware of all allowances and expenses you can claim for, and hence, can often increase your refund whilst remaining COMPLIANT.

I firmly believe our fee is recovered five-fold when we perform work for cis subcontractors ✅ it’s a no-brainer investment.

3️⃣ Ensure your refund is followed up where required, completely PROMPTLY. Having us complete your tax return means it’s done quickly and any follow up communication with hmrc is dealt with by us promptly. Essentially, when we take on your return, you sit back and we handle the rest.

What are you waiting for? Contact us today and we will get you booked in.

24/02/2025

Book and pay now to guarantee prompt submission and ensure your refund is received sooner rather than later 🚨

As the end of tax year approaches, millions of tax payers will be due refunds.

At The Accountancy Hub, we will be extremely busy during April as we rush to process many tax returns for such individuals - mainly CIS subcontractors.

If you’re due a refund, get booked in now. Early prepayment of your tax return ensures a discounted rate from £140 per tax return, and guaranteed submission within 1 week of providing the information to us.

Please contact us to take advantage of this offer.

09/02/2025

SOLE TRADERS 🚨

You wouldn’t hand Tesco £100 for shopping which comes to £70 and tell them to keep the rest.

So why would you pay HMRC more than you need to?

Many sole traders, particularly if higher rate tax payers, pay up to 45% income tax on top of national insurance contributions.

By operating in a limited company capacity, corporation tax is just 25% (and can be lower factoring in marginal relief for taxable profits below £250k)

You can then pay yourself dividends which are taxed at just 8.75% within the basic rate band.

The tax benefits can be enormous however you will also:

- have limited liability i.e your personal assets are not at risk in the event of insolvency 🏠 ✅
- operate more prestigiously. Limited companies are viewed with greater prestige and this can help win even more custom. 🔝 ✅
- potentially create a saleable business which is much easier to sell at retirement 💰 ✅

If your profits are growing, it’s worth checking if you’re paying hmrc more than you need to.

Let’s crunch the numbers. I have a purposely built calculator which shows exactly what sort of taxes you would be subject to as a Ltd company vs sole trader.

Reach out if you’d like me to introduce you to this calculator - I’m happy to run the initial numbers for you at no cost.

06/02/2025

A CIS subcontractor reached out recently.

He told us he’d had previous refunds not refunded in the past as well as his self assessment for 2023-24 being imminently due.

The Accountancy Hub reviewed his tax affairs and quickly identified the reason why HMRC would hold back the refunds. This was rectified quickly. Additionally, any penalties and interest applied by HMRC were successfully appealed.

17 days after contact he received £6,500 of refunds into his account.

If your taxes are a mess and all seems lost, quite often it can all be easily resolved.

If you’re thinking “I’d like a bit of that” then reach out today.

05/02/2025

CIS Sub-contractors 🚨

The 2023-24 tax window may have ended. However, did you know…

If you’ve been a CIS subcontractor during the 2024-25 current tax year, but have ceased trading during it, you DON’T NEED TO WAIT until after the tax year to reclaim your refund.

If this applies to you, contact us, and we’ll get the cogs turning to get that money refunded into your bank account sooner rather than later 👍

05/02/2025

We are pleased to announce that we will be working with Equans on some projects over the next few years.

29/01/2025