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Taxation for Small Businesses in the Maidenhead Area

Whether you’re a sole trader in Maidenhead, a business partnership in Marlow, a limited company in Windsor or a major corporation in Slough, our Chartered accounts, Auditors and experienced personnel can provide you with all of the advice you’ll ever need on matters of taxation, payroll and bookkeeping. Higgins Day understand that new start-ups, in particular, will have many questions and concerns over taxation. Our Chartered Accountants, Auditors and supporting team are here to answer them all.


Taxation is important to small businesses in Maidenhead, Marlow, Windsor and Slough because failure to get things exactly right could result in expensive HMRC penalties. By providing you with expert help in all matters relating to taxation, payroll and bookkeeping, our Chartered Accountants and Auditors help to increase cash-flow for continued business growth.


There are five types of taxation small businesses should be thinking about:


Income Tax – If you work as a sole trader, you’ll pay income tax based on your business profits. If you own a limited company, taxation will be based on your salary and any dividends you receive. You’ll also have to cover taxation for any employees you might have in the form of PAYE. Our Chartered Accountants, Auditors and experienced individuals can advise you on all income tax matters.


National Insurance – Sole traders in Maidenhead, Marlow, Windsor and Slough must pay a flat rate of Class II national insurance. Once profits increase, this type of taxation goes up to Class IV level. If you have employees and a payroll management system, you’ll have to factor in their national insurance contributions too. Our Chartered Accountants, Auditors and supporting personnel provide complete payroll, taxation and bookkeeping services for local businesses of any size.


Corporation Tax – This is a form of taxation which limited companies in Maidenhead and the surrounding areas have to pay on their profits. Corporation tax is payable as soon as a business moves into profit, has a basic rate of 20% and is payable nine months and one day after the company’s year-end accounting. Again, our Chartered Accountants, Auditors and experienced individuals can help with your business bookkeeping to ensure corporation tax is paid on time.


VAT – As soon as any company in Maidenhead, Marlow, Windsor or Slough reaches the required taxation threshold, it must register for VAT. This is a form of taxation with a rate of 20%, and is applied to all goods and services provided by VAT registered companies. By ensuring VAT is paid on time, our Chartered Accountants and Auditors help you avoid stiff penalties.


Business Rates – Taxation is also gathered through your business rates, and companies in the Maidenhead, Marlow, Windsor and Slough areas should regard it as being very similar to the council tax individuals have to pay at private residences. You won’t have to pay business rates if you work from home unless you have staff there or welcome visitors.


Ultimately, the Chartered Accountants and Auditors at Higgins Day, along with the rest of our team, are here to make the potential minefield of taxation easier to navigate. And, with a full supporting range of payroll and bookkeeping services to choose from, small to medium-sized business owners in all parts of Maidenhead, Marlow, Windsor and Slough can now have all of their business needs met.


Businesses in Maidenhead, Marlow, Slough and Windsor can find out more about bookkeeping, payroll management and taxation by calling our Chartered Accountants and Auditors.

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