20+ Years Experience
Specialist Tax Relief
As Professional Tax Rebate Accountants We Can Save Your Business Money
Welcome to Tax Relief West Lothian/ Tax Rebate. Businesses over-paid £11.5B (up by 26%) in corporation tax. This is due to poor accounting. This could be your company.
Are you a business owner or self-employed looking for a reliable affordable chartered accountancy firm that can help you save money on tax every year?
Well you have come to the right place, continue reading to understand how we can help you save money.
Our West Lothian team of taxation specialists at our accounting firm has helped several companies in West Lothian and save thousands of pounds on TAX & VAT every year using our expertise.
Your company can be next!
Our Tax Advisor’s follow various services such as :
We are local tax accountants in West Lothian. We have helped businesses and self employed individuals in West Lothian save thousands of pounds every year.
The certified public accountants at our tax advisory firm will need to speak to you regarding your situation. On average we always save our clients 10% on TAX & VAT.
Get in touch today with a free no obligation tax saving strategy & stop over paying in TAX & VAT every year.
Paying tax in West Lothian is frustrating, but it is necessary. However, you may find that it is possible to claim tax relief, allowing you more savings for pension, retirement or other support. If you are an employee of a company, then you may well be eligible to claim tax relief against, for example, your national insurance contributions or pension contribution. Most people qualify for these government benefits, available from any employer. Depending on how much tax you pay, you could claim tax relief. Below on this page, we will introduce you to how to get tax relief and how this can help with your income tax bill. If you have further questions, either contact HMRC directly or fill in the feedback form on our site!
Tax relief allows you to reduce the amount of tax you pay back to the government every year. Every registered company and self employed individuals are allowed to claim for tax rebate/ tax relief schemes.
Some tax relief schemes are:
If you need to speak to a professional chartered tax advisor get in touch with our Tax Specialists for a free no obligation tax chat.
If you have paid tax in the last tax year, and have expenses that are not older than the previous four tax years, then you might be entitled to claim tax relief.
This requires that you are not self-employed, and you will have to reach out to HMRC (HM Revenue and Customs) in order to claim anything.
Essentially, income tax at the basic rate is taxed based on your full income, but expenses from your own money mean that you might be entitled to pay less tax.
Here’s a list of business expenditures that you can claim back when applying for an employee tax relief.
If you have to travel to travel for your work then you may be able to claim for tax relief.
Any money you have spent on overnight stays for your work you are able to claim back as tax rebate.
Any food or drinks you have bought for work purposes (meetings, clients).
If you need to pay for tolls getting to and from work you may be entitled for a tax relief.
If you have to pay for parking when at work you can claim this money back as a tax relief.
If you use your personal mobile for business phone calls you can claim this back.
If you have been told that you need to work from home. (Not voluntary) you are able to claim this back.
If you have to purchase uniforms, certain clothing you can claim this back as a tax relief.
If you need to purchase a piece of equipment to do your job then you can claim this back for example.
You can claim 100% of what you pay into your pension pot.
In some cases you may be entitled to claim tax relief on business mileage. Get in touch with our Tax Rebate specialist team if you have any queries.
There are 2 options when claiming tax relief:
If you didn’t claim a tax rebate/ tax relief last year but you worked from home you are able to backdate your tax relief claim. This means you will be able to get a full year’s payment in full in your next salary. HMRC allow for 4 years worth of claims.
Firstly we always advise speaking to a professional tax accountant prior to making a tax relief claim as you may be entitled to more than you know what you can claim for.
To make a tax relief claim you can simply do so by visiting the Government website and creating a Government Gateway ID.
Once you have created a government gateway ID you will then need to provide some information to prove your identity such as:
Our team of chartered accountants are able to help give you tax advise and make sure you claim everything you possibly can meaning you save the most amount of money on tax.
Both employees and business owners are entitled to tax relief & tax rebates. There are various tax reliefs and tax rebates available for both employees and business owners.
Employees who have paid tax in the most recent tax year and who find themselves paying for the cost of work-related expenses and fees out of pocket, rather than getting reimbursement for them from their employer.
You can’t claim tax relief for fees older than the previous four tax years, so keeping up to date on the current tax year is important to claim this.
If you are not sure whether or not you are eligible for a tax refund in the current tax year, then speak to our tax consultants for a full updates list of tax reliefs you can also browse HMRC website, where you should be able to find a tax refund page that will talk you through the claims process and which fees are eligible.
A tax break or tax relief is a way for your company to reduce the amount of money you need to pay at the end of the year in tax by taking into account the money you spend on your business either investments or general expenditures.
Tax breaks don’t mean avoiding tax. Tax reliefs / Tax Breaks is a way of claiming some of the money back that you have spent in the year back.
If you are a small business that has its own premise and have been charged a ‘business rate’ by your local council for your non-domestic or business property, Then you may be entitled to SBRR.
If your property has a rateable value higher than the thresholds however it’s lower than £51,000. You will still be able to claim however your SBRR will be calculated on a Small Business Multiplier. Currently, this is 49.1p which is lower than the Standard Business Multiplier which is 50.4p.
If you’re an employer you may be entitled to National Insurance relief which allows employers to reduce their annual National Insurance liability by £4,000.
National Insurance Relief means you’ll need to pay less employers Class 1 National Insurance every time you run payroll until your £4,000 allowance has run out or until the tax year ends (which ever one comes sooner).
If your company or charity (including CASC) Class 1 National Insurance liabilities was less than £100,000 in the previous tax year then you are eligible for Employment Allowance / National Insurance Relief.
You are even able to claim back the last 4 years worth of National Insurance Relief dating back to 2017 & 2018.
To claim National Insurance Relief you can either speak to one of our advisors or you can download HMRC’s Basic PAYE Tools.
You can also use your own payroll software and tick any payrolls as ‘Employment Allowance indicator’ next time you submit an Employment Payment Summary (EPS) to HMRC.
If you want to speak to an advisor regarding National Insurance Relief then get in touch and one of our expert tax advisors will be able give you advise and also recommend other tax relief’s which your company can benefit from.
Donations made to any charities from an individual in the United Kingdom are all tax-free. Only if a charity or Community Amateur Sports Club (CASC) is Gift Aid Registered in West Lothian. They are then able to claim basic rate of tax that donors have paid back from the HMRC.
For example this means that for every £1.00 you donate to the charity they are able to pay an extra 25p and it wouldn’t cost you any more money.
If you have donated to a charity and want to claim this money back then speak to our tax advisors on how you can do this.
Annual Investment Allowance also known as AIA. AIA allows business owners to offset any costs of plant & machinery from their profits when paying your tax.
The allowance has been extended to £1m and you have until 2022 to claim this.
Items that are eligible for AIA are some of the following:
When you or your accountant is filing your self assessment or when your company is filing the company tax return you are able to claim for AIA then.
There is also another tax relief benefit called a Super Deduction which applies to any registered limited company investing in any machinery can get 130% super deduction on capital allowance on qualifying plant and machinery investments.
The government has this allows companies to invest and cut their tax bill by up to 25p for every £1 they invest.
If you need any help with AIA’s or Super deduction get in touch with our Tax Consultants to help save money today.
SITS, or SITR, stands for Social Investment Tax Support (or Relief). SITR is applicable to UK registered charities, social enterprises and community businesses to help raise flexible and more affordable capital for any trading activities. SITR also offsets some of the risks to any investors as all investors are able to get a 30% tax refund on any investments in the company.
To be eligible for SITR you must be Community Amateur Sports Club & Gift Aid Registered.
If you have any further questions regarding Social Investment Tax Support contact our team today for a free no-obligation talk.
SEIS stands for Seed Enterprise Investment Scheme. This is a scheme targeted at investors, helping to support new businesses by providing tax relief and helping to offset the losses that can be incurred early in the lifespan of a company, particularly if it fails before achieving any notable revenue.
You need to have a UK registered limited company to be eligible for SEIS. Your business activity can’t include any more than 20% for non qualify trades.
To apply for a SEIS you need to do the following:
If you have any further queries regarding SEIS and how you can claim it feel free to get in touch with our SEIS expert accountancy team who they can provide you with any free information with a 15-minute strategy call. Get in touch today for a no-obligation chat.
EIS Tax Relief is similar to SEIS; it stands for Enterprise Investment Scheme and supports people who want to invest their money in companies that are not as new as those eligible for SEIS support. Investors who pay tax can claim up to 30% income tax relief on investments up to a total of £1 million per tax year.
You will however need to watch out for the risk clause involved with EIS. Risk clause states that any money invested /raised will be used for an activity that imposes a risk, unlike SEIS.
To apply for Enterprise Investment Scheme you must fill out an EIS1 form which can be found on the government website. However, we recommend getting in touch with our EIS tax department prior to applying for EIS as our team may be to assist you with any queries or questions you may have for FREE.
VCT, or Venture Capital Trust, tax relief is another tax relief option aimed at investors in high-risk companies rather than being aimed at the basic rate taxpayer demographic.
This tax relief scheme is mainly focused on reducing your tax liabilities in the event of success: dividends on your shares can be tax-exempt, depending on your tax rate.
If you are spending a large part of your company’s funds on researching new things, then there is a tax relief scheme you may be able to claim. This allows you to subtract R&D costs from your profits, reducing your possible corporation tax bracket and helping you to save money!
To be eligible for this scheme, you need to prove that your research benefits the entire field, not just your own company.
You also need to meet the following criteria:
You will also need to link up any companies & partnerships when you’re trying to work out if your company is a small or medium-sized enterprise.
The government website states that if you want to qualify for R&D Tax credits you need to be able to show and explain that:
When your company is submitting their tax returns you’re able to claim back and expenditures on RD then. If you are looking to speak to a specialist RD Tax accountant get in touch with our team as our Chartered accountants will be able to help advise you and see if your project is fully eligible for an RD Tax Claim.
A common question regarding RD Tax is does my project need to be successful?
No, your R&D Tax claimed project does not need to be successful however you do need to provide that the project in which you’re trying to research isn’t already out there pre-made.
Marriage Tax Allowance scheme allows you to transfer up to £1,260 of your tax allowance to your spouse or civil partner. It does not apply after the end of a marriage or civil partnership. However, you cannot transfer your allowance to your ex-spouse.
If you have been married or in a civil relationship for a while you may be entitled to back-dated tax rebate where you can backdate up to 4 years.
Usually when our team files for a marriage tax rebate it takes anywhere between 4-6 weeks. However due to COVID this may take longer as the HMRC are advising that refunds & rebates can take up to 28 weeks.
If your situation meets the criteria listed above then yes your are entitled to a tax refund and you will be able to backdate your marriage tax rebate up to 4 years ago.
The process is simple all you need to do is get in touch with our team, We will ask you some simple questions and first of all see if your eligible if you are then we will make the claim for you. If for whatever reason you aren’t eligible we won’t charge you. Once you are successful your tax codes will be updated and every month you will save money when getting paid from your employer.
Get in touch today with our expert tax saving team to apply for marriage tax.
Creative industries tax relief applies to the following business types:
If you have any further questions regarding Creative Industries Tax Relief get in touch for a free no obligation consultation with our Tax Relief Expert.
On the Government website it states that your company needs to be involved in the development of any of the following films, animations or games from production phase all the way through to completion of the the game, film.
For Orchestra, Theatres or Exhibition’s your company must be responsible when it comes to running, producing and closing the exhibition or theatre.
When applying for creative industries tax relief you will also need to prove that you pass BFI (British Film Institute) cultural test. Which does require all films, animation to be certified as british.
When selling your business you may be eligible for Business Asset Disposal (BADR) previously known as Entrepreneurs’ Relief is a capital gains tax (CGT) relief.
Business Asset Disposal means you will need to pay 10% on all gains.
To qualify for BADR both of the following MUST apply to your business:
These same conditions apply if your intend on closing the business. You are also required to dispose of any assets of the business in a 3 year space to qualify for business asset disposal relief.
If you have any further questions regarding Business Asset Disposal Reliefs get in touch with our team
In short: yes. You need to have a personal, national insurance number available for any tax-paying or claims, for example, and there will be fields on the web page in which you will have to contribute a range of personal information. You can’t handle any of this anonymously, and HMRC needs you to disclose if you are a sole trader or self-employed, as well as your standard tax code and various other details.
Make sure you contact us today for a number of great tax-relief services in Scotland.
Here are some towns we cover near West Lothian.Livingston, Howden, Ladywell, East Calder, Mossend
We absolutely love the service provided. Their approach is really friendly but professional. We went out to five different companies and found Tax Relief to be value for money and their service was by far the best. Thank you for your really awesome work, we will definitely be returning!Rhys Marsh
We have used Tax Relief for many years as they are certainly the best in the UK. The attention to detail and professional setup is what makes this company our go-to company for all our work. I highly recommend the team for the immense work - we highly recommend them!George Sharp
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