Frequently Asked Questions (FAQs)
Why should I choose Msaziz & Co?
What services does Msaziz & Co provide?
Does Msaziz & Co offer bookkeeping?
Yes.
Is there a minimum contract term with Msaziz & Co?
No.
Can I sign up with Msaziz & Co online?
Yes.
What are my responsibilities as a client?
Do you handle Self-Assessments?
Yes, we offer personal tax calculation and filing services at competitive prices.
What should be included in the Self-Assessment Tax Return?
All forms of Director’s income, including investments, savings, business income, PAYE figures, and dividends.
When should I take dividends?
Consider your tax-free threshold and potential savings by timing your dividends strategically.
What is the tax rate on dividends?
What is income tax?
Tax charged on individual income, varying by income type.
Do you provide payroll services?
Yes, we manage payroll compliant with RTI submissions, including for directors and employees.
Can I pay my spouse through the company?
Yes, employing your spouse can be tax-efficient under certain conditions.
When should I register for VAT?
Can you assist with VAT registration and returns?
Yes, we handle VAT registrations and file returns based on your company size and chosen VAT scheme.
How should I pay myself for tax efficiency?
Consider declaring a salary and leaving it as a debt to the director for tax-free withdrawal later.
What business expenses can I claim?
You can claim genuinely incurred business expenses, such as business mobile phone costs.
Company car or mileage allowance, which is better?
Claiming mileage using HMRC rates can avoid taxation charges associated with company cars.
What is the "Home Office Allowance"?
Charge your company for home office use, either a straight £6 per week or a proportion of bills.
How easy is it to switch to Msaziz & Co?
Switching is straightforward. We manage the transition, ensuring a seamless switch from your current accountants.