Need help with tax and accounts? THP’s online guides

One of the big advantages of a medium-sized accountancy firm like THP is the amount of expertise we can draw on. With dozens of talented accountants working across our branches in Wanstead, Sutton, Chelmsford and Saffron Walden, we have people with deep knowledge and experience of many accountancy and tax topics. Rather than let them hide their light under a bushel, we’ve enlisted their help to share their knowledge. The result is a growing series of expert guides. So if you need help with tax and your accounts, this resource could be for you!

You can find all the guides by selecting GUIDES from the top navigation on our website.

Who are the guides for?

The guides are free to view and available to everyone – THP clients and casual readers alike. They are aimed at people who need help with tax and their accounts and are designed to bring clarity to often-complicated topics.

Each guide takes its topic back to basics without using ‘accountancy speak’. We demystify acronyms, make complicated legislation understandable and give you clarity on everything from your responsibilities to submission deadlines.

What topics do the guides cover?

The first guide covers Making Tax Digital (MTD) – the government initiative to make us submit digital tax returns. Many people are confused by how MTD works. That’s partly because it is happening in stages. For example, most people will already be complying with MTD for VAT. But MTD for Income Tax and Corporation Tax are still on the horizon. To add to the complexity, not everyone has to comply with the different MTD deadlines by the same date.

Our guide aims to make this complex topic much more understandable. We’ve also delved into the types of software you need for MTD, as well as pointed you to helpful external links. You’ll also find links to our recent blog posts on Making Tax Digital. Each time we write a new piece on the topic, you’ll find it at the bottom of the guide.

• Read our Making Tax Digital guide

Need help with Capital Gains Tax?

Our second guide is for people who need help with Capital Gains Tax. CGT is one of those taxes that seems simple on the surface, but is actually highly complex.

For example, there are different rules for CGT on property and Capital Gains Tax on possessions, shares and business assets. CGT reporting deadlines also differ, depending on the type of Capital Gains Tax you are liable for. Then there’s a whole range of CGT allowances and reliefs that may or may not apply to your situation. The amount of CGT you pay can also differ, depending on which tax band you are in.

Our new guide goes back to basics. It explains how the different types of CGT work, how they are applied and what you need to do to comply with HMRC’s rules.

• Read our Capital Gains Tax guide

BTL Landlord looking to find ways to increase profits?

Are you a buy-to-let landlord? If so, you’ll know from experience that the market has got much tougher.

Negative tax changes have eaten into profits. Finance is harder to arrange. HMOs (houses of multiple occupation) face stricter licensing regimes.

Many of the changes have been introduced to help make property more affordable for homebuyers rather than landlords. As a result, many smaller landlords have sold up as they’ve seen their incomes drop. This guide aims to help Landlords find ways to counter these tax changes.

• Read our Guide on how to make BTL more profitable

Future guides for tax and accountancy help

Our expert team is working on a range of new guides, covering some of the topics our clients often ask for help with. If there are topics you would particularly like some help with, please drop us a line. There’s a contact form at the foot of this page.

Need help now?

While our guides are designed to help you get familiar with each topic, sometimes there’s no substitute for expert help. For example, thanks to HMRC’s systems, many people have recently overpaid CGT. To solve problems like this, it’s a much better idea to talk to an expert rather than go it alone. We’ve got the experience and knowledge to solve problems like these – and do so on a daily basis.

We hope you enjoy the guides and find them helpful. Do let us know if you have ideas for improving them, or would like us to cover particular topics in future. Above all, if you need help from a knowledgeable and experienced team of accountants, don’t forget we’re here to help!