jamesmilne

chartered accountants

Banchory

Accounting with a personal touch

business tax

ourservices

Business Services

Personal Taxation

“Our clients tell us that they are reassured by the continuity James Milne provides, they know the team they will be dealing with from day to day and year to year will be the same. That is something that is becoming increasingly rare in our industry.”

richardchristie

partner | banchory

As a firm established for more than a century, James Milne knows the north-east business scene better than most.

Today we serve clients across a diverse range of industries, from the Aberdeen and Aberdeenshire staples of oil and gas and agriculture through to retail, hospitality, fishing, haulage, all trades, construction and many more.

Find out how our Business Services can serve you today …

“Finance is one of the most personal parts of any individual’s life and our clients know they have absolute confidentiality when dealing with us. Professionalism is at the centre of everything we do, but we are dealing with people first and foremost – we never lose sight of that.”

michaelfotheringham

partner | aberdeen

As a firm established for more than a century, James Milne knows the north-east business scene better than most.

Today we serve clients across a diverse range of industries, from the Aberdeen and Aberdeenshire staples of oil and gas and agriculture through to retail, hospitality, fishing, haulage, all trades, construction and many more.

See how our Personal Taxation services can help you today …

“Taxation is the most complex and most important aspect of business life. We use our experience and knowledge to cut through that complexity and to ensure that every client is receiving the most relevant and informed advice possible.”

 

Richard Christie – Partner

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Navigate Business Tax with Expert Guidance

At James Milne we understand that managing your business taxes, whether you are a sole-trader, partnership or incorporated business, can be complex and time-consuming. With our team of in-house specialists, we are dedicated to managing your tax obligations, allowing you to concentrate on running your business effectively.

There are many types of business taxes to keep on top of: income or corporation tax on business profits, Value Added Tax, , capital gains tax and National Insurance contributions.
Our Role as a Chartered Accountant Managing Business Tax

As chartered accountants, we are equipped with in-depth knowledge of tax legislation. Our specialist tax advisers play a pivotal role supporting our clients:

  • Tax Planning and Compliance: Developing strategies to optimise your tax position while ensuring full compliance with HMRC regulations.
  • Filing Accurate Returns: Preparing and submitting accurate tax returns to avoid discrepancies and penalties.
  • Meeting Deadlines: Keeping track of all tax deadlines to ensure timely submissions.
  • Advisory Services: Providing bespoke advice on tax matters, tailored to your business’s unique needs.

Key Deadlines and Avoiding Penalties

Through effective planning, we can help you keep on top of HMRC deadlines and avoid penalties for late or inaccurate tax returns. Here are some useful guidelines:

  • Income Tax: Returns due by 31st January each year with tax payments due by 31st January and 31st July.
  • Corporation Tax: Typically due nine months and one day after the end of your accounting period.
  • VAT Returns: Usually due one month and seven days after the end of the VAT period.
  • PAYE and National Insurance Contributions: Monthly or quarterly deadlines, depending on your business size.

Late or incorrect tax returns can lead to penalties. Our proactive approach ensures that your business stays ahead of deadlines with regular reminders. We can also promptly rectify any discrepancies that might emerge such as incorrect or incomplete income reporting, errors in expense claims, VAT errors and even payroll mistakes through our systematic and meticulous approach. This enables us to submit accurate and compliant returns on your behalf.

With James Milne you can navigate the complexities of business tax with confidence. Our accountants and tax specialists are here to ensure that your business not only complies with tax regulations but also benefits from strategic tax planning.

Contact us today to ensure your business is on track with its tax obligations.

our people

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business services

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personal services

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branch news

other locations

main contact

5 Bon Accord Square
Aberdeen
AB11 6XZ
Telephone: 01224 584458

5 High Street
Inverurie
AB51 3QA
Telephone: 01467 623311

Rosewood, Raemoir Road
Banchory
AB31 4ET
Telephone: 01330 828500

James Milne & Co trading as James Milne Chartered Accountants is a firm of Chartered Accountants with offices in Aberdeen, Inverurie and Banchory.

The Firm is regulated by The Institute of Chartered Accountants of Scotland (ICAS) and is registered with the Information Commissioners Office (Registration No Z6610976).