Martax Accountants

Chartered Certified Accountants is the Ultimate Solution

Martax Accountants, an independent firm of chartered certified accountants in New Malden established in 2013 to help you in your business. Small businesses, start-ups, well-established business, sole trades, individuals and every other business we can handle the stress.

Our trained and qualified accountants have an updated systemized way to handle your taxes. Cloud-based accounting and tax software provide you the proactive services to meet the needs of the fast-growing world.

The Owner “Asim Riaz,” is the member of the Association of Chartered Certified Accountants (ACCA), started the business with great passion. He has worked in various accounting practices include one of the top five firms in the UK. He is an expert in personal taxation, freelancers, and other businesses. In the less time, he has developed a great team of experienced accountants that can assist you in every aspect that includes tax services, VAT, Payrolls, Corporation tax and more.

If you are looking for pro-active accounting and tax services for your business, please call us at 020 8330 3167 for a free consultation.

Why Our Chartered Certified Accountants

  • ProActive

We believe in proactive accounting and tax services for our customers. Our old customers rely on us for their business data history. Our organized system updates all the data on cloud-based software. With online accounting and tax packages, we get enough time to advise our clients on the current situation and about future cash flows. ‘

  • Always on Time

Due to our latest online system, we have the quick access to your accounts. Our automated systems send reminders to our customers and help us to meet the HMRC deadlines.

  • A Face – To – Face Approach

We never hesitate to interact with our customers. Whether you call us at your place or you come to us, you will find us cooperative, humble, and polite.

  • Tax Saving

Our experienced accountants take care of your money and save you from paying extra taxes.

  • Confidentiality

Our professional behavior limits us to keep your personal information confidential. You can stay easy; we do not use your personal data anywhere except the preparation of submission of returns with HMRC.

Contractor Accounting in New Malden

Martax Accountants is a modern accountancy practice providing specialist accounting and tax solutions to the contractors and freelancers. We have years of experience dealing with contractor accounting and taxations and therefore we understand the specific accounting and tax requirements of limited company contractors.

We are using leading online accounting and tax software which helps us to provide our services not only to our local clients but also to the rest of the UK.

Small Business Accounting

Our services cover all the small and medium-sized business and individuals. From administration to bookkeeping, payroll, and accounts, we full fill all the needs. Our experts are capable to deal your small business with broader experience and provides you sincere advice for your success.

At Martax, we can help you with the best small business accounting such as:

  • Advice on the best business structure whether sole trader, partnership or a company
  • Register you personally for self-assessment (if you are a sole trader or member of a partnership)
  • Incorporation of your company with Companies House (if a limited company)
  • Registration of your business for VAT scheme (if applicable)
  • Preparation of monthly/quarterly VAT returns
  • Register of your business for PAYE Schemes (if required)
  • Preparation of weekly/monthly payslips for employees
  • Submission of Real Time Information (RTI) with HMRC
  • Bookkeeping
  • Management Accounts
  • Cash flow forecasts
  • Preparation of company annual returns
  • Preparation of company accounts and corporation tax return (CT600)
  • Preparation and submission of self-assessment return for individuals and directors

Capital Gains Tax

Capital gains taxes are applicable on the disposal of capital assets. For the individual, capital tax is applicable if they make the profit above the annual exemption limit for the tax year.

The disposal of following most commonly disposed assets may be subject to capital gains tax such as:

  • Disposal of residential or commercial property
  • Disposal of shares in a personal trading company
  • Sales or grant of leases
  • Any other capital assets

Calculate the Capital Gains tax

The method of calculating the capital gain on assets disposed of is very straightforward. We simply take proceeds of the sale and deduct all costs of acquisition to leave us with the capital gain. From the proceeds of the sale, we may deduct incidental costs of disposal. These will include legal fees, valuation fees, and any costs of advertising for sale. Similarly, the costs of acquiring an asset will include allowable costs and expenses.

Capital Gains Tax Rates

The tax rate varies on residential property as compared to other assets.

If you are an additional rate taxpayer then;

  • 28% of your gains from residential property
  • 20% of your gains from other chargeable assets

If you are a basic rate taxpayer

  • 18% of your gains from residential property
  • 10% of your gains from other chargeable assets

Tax Accountant in New Malden

Self-assessment is a tax return form through which you report your annual earnings to HMRC. If you are not sure how to prepare your tax return, please get in touch with our team of tax return specialists. At Martax, our tax accountant can help you in providing tax return at a reasonable price.

Tax Return is Applicable On

Here are the few conditions when have to file for tax return.

  • You were self-employed during the year.
  • You had untaxed income over £2,500, for example, rental income;
  • You made profits at the disposal of capital assets
  • You were a company director
  • Your income was over £100,000
  • You had gross savings and investments income £10,000 or more
  • Your income (or your partners) was over £50,000 and one of you claimed child benefit

Bookkeeping Service

To run an expanded business is not an easy job. Daily transactions such as buying, selling, receipt, and lot more should be kept in the proper record through a proper system. Our bookkeeping accountants are well aware of the technical handling of your things. Our bookkeeping service plays a part in payroll. We serve you:

  • To register your company for the PAYE scheme with HMRC
  • Preparation of the weekly/monthly employees’ payslips
  • Submission of weekly/monthly RTIs with HMRC
  • Calculation of monthly/quarterly PAYE liability
  • Preparation and submission of P60s, P45s and P11Ds

A Company with Passion

Martax Accountants has highly qualified and technically trained team of chartered certified accountants. You can consult us anytime for your business success. Our matchless accounting service is affordable. We work from Monday to Friday 9.00 to 17.30.

You can get a free quote for your service through our website www.martaxaccountants.com.

Let us handle your business accounts so you do not have to. Call today.

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