Question 1

How does a Chartered Tax Advisor help businesses in the UK?

Accepted Answer

A Chartered Tax Advisor (CTA) provides expert tax planning and compliance services to help UK businesses minimize tax liabilities legally, navigate complex tax legislation, ensure HMRC compliance, and identify tax-saving opportunities. CTAs have advanced qualifications and extensive experience in UK tax law.

Question 2

How do R&D tax credits work for SMEs?

Accepted Answer

R&D tax credits provide financial relief for UK companies investing in innovation. Since April 2024, the merged R&D scheme offers 20% standard relief or up to 27% for R&D intensive companies. Companies can claim on qualifying R&D expenditure including staff costs, software, materials, and subcontractor costs. The relief reduces corporation tax or provides a cash credit for loss-making companies.

Question 3

What are Embedded Capital Allowances and how do they save tax?

Accepted Answer

Embedded Capital Allowances are tax reliefs available on qualifying fixtures and fittings within commercial properties. Through cost segregation analysis, we identify items such as electrical systems, heating, plumbing, fire safety equipment, and integral building features that qualify for capital allowances. This can generate significant tax savings by accelerating tax relief on property investments.

Question 4

How much do accountants charge in London?

Accepted Answer

Accountancy fees in London vary based on service complexity and business size. Self-assessment returns typically range from £150-£500, while comprehensive business packages for SMEs range from £1,500-£5,000+ annually. At SCG Tax Limited, we offer transparent pricing with Bronze, Silver, and Gold service packages tailored to different business needs.

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