Open Hours
Mon - Fri: 9 am - 5 pm
Call us: +44 745 9612077
4 Albert Road, South Woodford, London E18 1LE
Why Choose Us
We provide strategic guidance for informed business decision-making through meticulous financial analysis.
Our professionals are committed to implementing innovative strategies and optimizing operational efficiencies.
Each client engagement is overseen by a licensed professional accountant, ensuring individualized attention and the highest standard of service.
What we offer
Frequently Asked Questions
Self-Assessment is a system HMRC uses to collect Income Tax. Tax is usually deducted automatically from wages, pensions, and savings. People and businesses with other forms of income must report it in a tax return.
Self-employed individuals can claim a variety of business expenses, including office costs, travel expenses, stock or raw materials, marketing costs, and professional fees. These expenses must be wholly and exclusively for business purposes.
Value Added Tax (VAT) is a tax on the value added to goods and services. You must register for VAT if your business’s taxable turnover exceeds the VAT threshold (currently £90,000). Once registered, you must charge VAT on your sales and can reclaim VAT on your purchases.
Income Tax is a tax on your earnings, while National Insurance contributions (NICs) are payments that qualify you for certain state benefits, including the State Pension. Both are deducted from your wages if you are an employee or paid through Self-Assessment if you are self-employed.
Capital Gains Tax (CGT) is a tax on the profit when you sell or dispose of an asset that has increased in value. You need to pay CGT if your total gains exceed the annual tax-free allowance. Common assets subject to CGT include property (that is not your main home), shares, and business assets.
Inheritance Tax (IHT) is a tax on the estate (property, money, and possessions) of someone who has died. The standard IHT rate is 40% on the value of the estate above the tax-free threshold. Certain reliefs and exemptions may apply.
If you need help with your taxes, you can contact a professional accountant or tax advisor. They can provide expert advice, assist with tax planning and compliance, and help you navigate complex tax issues. You can also find information and resources on the HMRC website.
I am Usman Hassan, the Founder & Managing Director of Accuwise Chartered Accountants. As a licensed Chartered Accountant (ICAEW) with over a decade of expertise in UK, US offshore, and Pakistani accounting, I combine advanced technology with personalized solutions to provide real-time insights and streamlined processes. My core values are integrity, precision, and client-centric service. Let us achieve your financial goals together!
Founder & Managing Director, Accuwise
