Wagner Associates

read moreI started Wagner Associates in 2002 with the aim of providing a chartered accountancy and tax service that is personal, approachable and proactive. As an owner / manager business we needed an accountant/tax adviser that can come to us at a time and place that fits in with our busy schedule.

read moreVAT consulting is value added tax consulting, helping clients make sure they don't pay too much VAT to HMRC and claim all the reliefs. If you've got a trading entity, providing services or selling goods, VAT is applied to the many daily transactions. VAT is a tax that can massively affect a business's net profit and is very easy to get wrong. If you get it wrong, there's some large numbers in terms of transaction volume and some large figures in terms of amount. So if you get VAT wrong, and it's very easy to get it wrong, then you will either be paying too much VAT, which would harm your business or paying too little VAT.

read moreWe use these to describe tax or income taxes incurred by everyone in the UK, and generally throughout the world. So personal tax planning can involves working out how to reduce to reduce an inheritance tax bill on your family's property should someone die. You can have a director and shareholder of a company or sole trader paying pincome tax on their dividends, wages and interest earned and employees paying tax on their gross earnings/wages that they earn. For employees personal income tax is calculated through something called PAYE (pay as you earn).

read moreSo quite often clients present us with their income and expenses information very close to the deadline; nine months after the year end. If you want manage your tax position effectively and make sure you're not paying too much tax and find out if there's a way to reduce your tax you need to do it in real time. You cannot speak to an accountant in nine months after the end of the tax year to try and change the past because accountants are not magicians or time travellers. What you need to do is look forward to the current tax year and find out how can you work with your accountant to try and position my income and my costs to make sure that I don't pay more tax.