CANALITIX ACCOUNTANTS
Services
Tax Accountants
CANALITIX ACCOUNTANTS provide income and corporation tax planning and advisory services to individual and corporate clients. Our niche areas are Research and Development (R&D) tax credits, EIS/SEIS, IR35, Construction Industry Scheme (CIS), HMRC investigations and appeals.
Our business services team partner with global software companies, such as Sage, Quickbooks, Xero and FreeAgent to support Clients with their preferred accounting platforms.
We are trusted by over 100 businesses to provide accountancy tax and advisory services, including bookkeeping, VAT returns, payroll services.
CANALITIX ACCOUNTANTS are a team of highly-skilled accountants, tax and management consultants. We have extensive experience of various industry sectors including, finance, marketing, e-commerce and construction.
Our mission is to deliver a modern public practice experience by employing Cloud-based technology.
We are specialists in income, corporation, capital gains and inheritance tax planning. We partner with leading accounting software companies such as, Sage, QuickBooks, Xero, FreeAgent and Wave to provide a flexible solution that is suitable to individual Clients.
Our niche areas include Research and Development (R&D) tax credits, EIS/SEIS, IR35, HMRC investigations and appeals. In addition to our specialist tax planning and advisory services, we provide company secretarial services and standard accounting and bookkeeping packages
About us
Tax Planning and Advisory Services
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Annual Accounts and Corporation Tax Return
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Individual Self Assessment Tax Return
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Research and Development (R&D) Tax Credit
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EIS/SEIS Advanced Assurances
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Capital Gains and Inheritance Tax
Services
Bookkeeping VAT and Payroll Services
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Payroll and PAYE returns
- Construction Industry Scheme (CIS) returns
- VAT returns
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Invoicing and Credit Control
- Accounts Payable automated OCR data entry
- Profit and Loss, Balance Sheet, Accounts Payable and Receivable
- Cashflow Statements
Company Secretarial Service
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Limited Company Formation
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Board Resolutions
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Directorship and registered office changes
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Share capital reorganisation
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Annual Accounts and Confirmation statement filings.
CIS Tax Rebate Service
What is CIS Tax Rebate?
This is the repayment of excess deductions made from subcontractor payments under the Construction Industry Scheme (CIS).
Under CIS, contractors deduct money from subcontractor payments and pay it to HM Revenue and Customs (HMRC). HMRC treats these deductions as advance payments towards the subcontractor’s tax and Class 4 and Class 2 National Insurance (NI) contributions for the year.
CIS Tax Rebate or Refund
The advance payments of tax and NI contributions by CIS subcontractors is made without taking into account their annual tax allowance. In 2019-20, this individual tax free allowance was £12,500.
After deducting business expenses, the taxable profit of the subcontractor may be less than his labour costs which would result in a higher CIS Tax rebate or refund.
