Understanding tax provision for UK individuals and businesses

The tax system in the UK is rather complex and features a huge number of provisions. It is important to learn more about each tax provision for UK individuals and companies. Understanding each of them and the impact can be very tough though. Fortunately the Paifang team is here to help. We have become one of the best accountants Taunton has to offer thanks to our ability to explain complex topics and assist clients. Continue Reading

Digital tax strives to make better use of our details

Paifang Accountants and Tax Advisors has a team of qualified and talented business consultants. We have worked tirelessly over the years to bring clients the best solutions possible. We supply an assorted array of services, such as company formation, VAT & tax returns, and accounts production. Being one of the best accountants Taunton has available, we are the people to contact if you ever need help. Continue Reading

Invaluable protection in case you are the focus of an HMRC enquiry

One of the main things that many people are concerned about when they are the focus of an HMRC investigation or audit is the size of the fees they can face. Luckily many firms provide useful Fee Protection to prevent high, unexpected bills from arriving. At Paifang we recently renewed our own Tax Fee Protection Scheme, ensuring clients can work with the best accountants Taunton has to offer without worrying about surprise bills as a result of HMRC’s enquiry. Continue Reading

Appoint UK tax advisors to manage the impact of Budget changes

There has been a great deal of focus on how the 2017 Spring Budget impacts the self-employed and SME businesses. We have looked at some of the key points on the news section of our site, and so wouldn’t want to repeat too many of them again here. What we believe to be interesting from our perspective as one of the leading accountants Taunton has is a look at just why these groups are so important to the national economic picture. Continue Reading

Be honest if you miss the HMRC deadline

It’s another year and another HMRC tax return deadline has come and gone. The deadline for online Self Assessment returns passed on January 31 2017. Whilst we, as the leading accountants in Taunton, are always fully prepared for these important dates there can be no denying that it’s a very busy day for the vast majority of us. Continue Reading

Highlighting the benefits of a UK Holding Company

The nature and characteristics of our economic world are presently very different from how it all was just a few years ago. There are many examples which highlight this. Few, however, illustrate it all quite to the extent of how beneficial it is to establish a UK based holding company when engaging in cross border business. Continue Reading

Moving from sole trader to limited company

Did you know that many of the most well known businesses around today started off life with the founder registering as a sole trader? We tend to think that some really big companies just came into being at the size they are now, but this is seldom the case. It would be usual for an entrepreneur to start off as a sole trader in order to get the business going, as this involves the least amount of registration and red tape. Continue Reading

Delivering efficient international tax planning services

International mobility has become increasingly commonplace for both businesses and individuals. Through a combination of advanced communication means, trade agreements and ease of travel, it’s not so much the case that global business is easier as it is seemingly wholeheartedly encouraged. The ease with which international employment and business transactions can be engaged in can make you all but forget one constant – different tax rules and regulations apply within different borders. With our international tax planning services working for you this constant does not have to be seen as a barrier. Continue Reading

How Offshore Companies Utilization Benefits Your Business

Let’s be honest about it – when you mention setting up an offshore company to anyone, the first thoughts they are likely to have are that it’s due to some sort of fraud or an attempt at tax avoidance. This is the rather unfortunate legacy from a small number of high profile cases from many years ago. The truth is that there are numerous benefits to offshore companies utilization, with all of them being perfectly legal. Continue Reading