Accounting, Management Accounts and Bookkeeping
There is a clear distinction between tax avoidance and tax evasion. Tax evasion is illegal but every taxpayer is entitled to arrange their affairs to the absolute legal minimum amount of tax (tax avoidance).
Whilst completion of tax returns and statutory tax obligations is important, all accountants should be capable of completing them and advising you of your tax position and liabilities.
CFW try to do more than just this and are interested in maximising your tax planning opportunities.
Within the legal framework there are numerous ways of saving tax and making sure you do not pay more than is absolutely necessary. At CFW we have extensive experience in this area of work and always work as hard as we can in the interests of our clients.
Who Do We Help?
At CFW we incorporate tax planning into everything we do. This helps every one of our clients. A lot of tax planning is performed alongside other activities such as completion of tax returns, VAT returns or property transaction. For those individuals with more complex transactions or large incomes / assets we offer a more formal approach.
What Can We Do?
We can help with tax planning in relation to:
- Personal taxes
- Business taxes
- Tax efficient employee remuneration strategies
- VAT planning
- Inheritance Tax strategies
- Capital Gains
- Profit- extraction strategies
- Exit strategies
- Employment status
- IR35 advice
Combined with our many years’ extensive experience in this arena, CFW has invested significantly in reference materials and specialist software. With access to Tax Legislation, Tax Cases, to the internal manuals of HMRC and to detailed commentary on all taxes, direct and indirect, we can research any tax topic and provide many ways of helping you legally save tax.
Why Do We Do It?
New clients are often surprised at how much can be done to help with their tax position. We are always willing to go that extra mile to offer advice on the areas where tax can be saved. It is important that work is done well in advance, so we urge you to contact us as soon as possible.
All our Tax Planning makes legitimate use of the Tax Legislation and Case Law, so that you are not at risk from a full HMRC Enquiry.
Your self-assessment tax return is an annual requirement to let HMRC know who much money you have earned and how much tax you will pay.
Who Do We Help?
At CFW we can prepare a self-assessment tax return for anyone who needs one. You are likely to need to submit one if in the tax year you were:
- A sole trader earning at least £1,000
- A partner in a partnership
- Renting out a property
- Receiving income from savings, investment and dividends
- Receiving foreign income
- Receiving child benefit and one person in the household earned over £60,000
What Can We Do?
At CFW we undertake the following relating to your self-assessment tax return:
- Register you to receive a self-assessment tax return
- Computation of tax liabilities
- Completion of your self-assessment tax return
- Filing of your self-assessment tax return
- Advice on your tax liabilities
- Identifying suitable tax planning opportunities
- Acting on your behalf with HMRC tax enquiries
- Correspondence with HMRC
- Inheritance tax planning
- Tax investigation fee protection insurance
- Trusts
- Informing HMRC when you no longer require a self-assessment tax return
Why Do We Do It?
The self-assessment regime is full of penalties and HMRC enquiry powers are extensive. It's important that:
- Returns are correctly completed
- Returns are filed on time
- All backup records are retained for the appropriate period
Tax related to property can be a bit of a maze. When purchasing a property for investment or to develop, it is important to know which property taxes apply to you and how to remain compliant.
Who Do We Help?
Property tax can apply to both individuals and businesses, whether purchasing as an investment, a development or for resale. At CFW we can advise on all these situations.
What Can We Do?
If you are purchasing a property, we can advise you on issues such as:
- Tax reduction strategies for rental income
- What is a repair and tax deductible and what is capital and not
- When to use a Limited Company to save tax
- Trading income versus Capital Gain considerations and advice
- Capital Gains rollover and holdover considerations
- Stamp duty planning
- Tax efficient mortgage structures
- VAT considerations of property deals
- CIS considerations on property development
- Making the most of the Principal Private Residence election
- Tax issues on the sale of part of your residence
- Second homes
- Inheritance Tax angles
Why Do We Do It?
Property can touch on many areas of tax including rental income, trade income, capital gains tax, VAT, CIS and stamp duty. Property transactions can also involve significant sums and can cost significantly more if not done correctly. At CFW we look at all areas of tax together to ensure the property transaction is done tax efficiently and will minimise any future tax burdens.
At CFW we know that accounting and bookkeeping can sometime be tedious or confusing. BUT we also know that this is key to understanding the financial performance of the business and decision making. Business owners’ time is best spent running the business rather than on the day-to-day administrative tasks such as accounting and bookkeeping.
Who Do We Help?
We help businesses of all shapes and sizes that do not have the time or in-house expertise to take care of their bookkeeping, and who value the expertise and reliability that CFW’s outsourced service offers.
What Can We Do?
When letting CFW take care of your accounting and bookkeeping, we will -
- coordinate the best way for you to send us your financial paperwork (app, email, post, etc.,).
- do all the processing.
- ensure all filing deadlines are met.
- can then easily prepare for you:
- management accounts
- VAT returns
- key performance indicators
- end of year accounts
- estimated tax liabilities as you go so there's no end of year surprises.
You pick up (or we post back) any physical records (neatly filed and organised) and all the information we've agreed to provide you with.
Why Do We Do It?
Outsourcing your accounting and bookkeeping to CFW keeps it hassle-free, accurate and on time. We can roll the accounting and bookkeeping straight into your year-end accounts so you know your tax liabilities well before the payment deadline and we can provide information that is key to running your business on an ongoing basis. It also makes it easy for us to handle any VAT or tax inspections.
Our tax services make sure that your tax liability is calculated taking into account all allowed exemptions and deductions. We simplify the process by using accountancy software to accurately complete tax returns and calculate any tax liability that may occur, along with any payments that need to be made.
Corporation tax reliefs and rates change annually, so we ensure that we can provide all the right guidance and advice when looking at exemptions, allowances and deductions that may be available.
We will thoroughly review and prepare corporation tax returns in great detail in order to ensure you are complaint and that you don’t incur any penalties.
You may be looking at investments, a second property or another asset and our team can make sure you maximise your exemptions while simplifying the difficult area of capital gains tax.
We can help with the complex issue of personal tax, we know it can be difficult to understand, which is why we help every step of the way. We take away the time and stress by creating a tax planning strategy that suits your tax affairs, helping ensure you pay the least amount of tax. Our team will advise when payments are due along with what forms need to be filed and returned to keep you compliant.
Latest news from C F W Accountants LLP
Companies House has changed its login process and from December objections to a limited company being struck off must be made through its ‘Make an objection’ online service.
From October 2026, companies will have to comply with new rules on trade unions introduced as part of the Employment Rights Act.
The tax rules on Benefits in Kind (BIKs) are changing. From 6 April 2027, Phase 1 of HMRC’s ‘Mandatory payrolling of Benefits in Kind and expenses’ comes into force. Phase 1 will apply only company cars, car fuel, vans, van fuel and medical benefits.
Energy regulator Ofgem has announced a 4% increase in the energy price cap for the period covering 1 October to 31 December 2026. This increase reflects higher wholesale gas prices due to the ongoing conflict in the Middle East, with volatile global gas markets remaining the dominant driver of price changes.
UK businesses are facing a “cost of business crisis”, according to the British Chambers of Commerce (BCC). Its new cost-stack calculator shows government policy alone has pushed up an average firm's expenses by 70% over the past decade, adding roughly £827,000 a year in costs for a typical mid-sized business. About a quarter of the rise stems from the increase in employer National Insurance contributions, with the higher minimum wage and mandatory pension auto-enrolment also major contributors.
Under Making Tax Digital (MTD) for Income Tax, sole traders and landlords with income of more than £50,000 have been required to keep digital records and send quarterly updates to HMRC since 6 April 2026.
The UK jobs market showed fresh signs of strain in the latest labour market figures, published by the Office for National Statistics on 18 August 2026.
Those who have turned their hobby into a side hustle are being reminded by HMRC that their income from these activities may be taxable.
