Tax Planning and Compliance across Coleraine and Cookstown

At MKP Accountants, based in Coleraine and Cookstown, we specialise in tax planning and compliance for both individuals and businesses in Northern Ireland.

Navigating the complexities of taxation is crucial, as people and businesses are subject to various taxes, including Income Tax, Corporation Tax, Capital Gains Tax, Inheritance Tax, Stamp Duty, Value Added Tax (VAT), and National Insurance. Our expert tax planning services can help you reduce or eliminate the impact of these taxes.

Comprehensive Tax Planning Services

We understand that tax implications can affect your overall financial situation. That’s why we consider the full spectrum of taxes relevant to your circumstances, rather than just focusing on a single tax issue. Our team at MKP Accountants is dedicated to not only calculating your tax liabilities but also providing strategic advice on how to structure your business activities. This proactive approach allows you to maximise available tax reliefs and understand the tax implications of your business decisions in advance.

Corporation Tax Services in Northern Ireland

With the introduction of Corporation Tax Self Assessment (CTSA), business owners bear the responsibility for accurately calculating their corporation tax liability. At MKP Accountants, we understand the challenges faced by owner-managed businesses. We ensure timely and efficient preparation of your company’s tax returns and calculation of your corporation tax liabilities.

Given the increasing reporting obligations and scrutiny from tax authorities, our services are designed to minimise your corporate tax exposure and alleviate the administrative burden of compliance. Effective corporate tax planning can lead to significant improvements in your bottom line, allowing you to focus on growing your business.

Personal Tax Services for Individuals, Sole Traders, and Partnerships

Our expertise extends to personal taxation, including income tax, capital gains tax, and inheritance tax. We offer comprehensive Self Assessment services to eliminate the stress of form filling and compliance. With the rising penalties from HMRC for late filings and errors, our team can handle your tax returns efficiently, calculate your tax liabilities, and provide clear guidance on payment deadlines and amounts.

Personal Tax Planning

Everyone subject to taxation deserves professional advice to optimise their tax position and ensure compliance with regulations. Our specialised tax team offers year-round support on all aspects of personal taxation, helping you make informed decisions.

Estate Planning

Planning for the future is essential, and our estate planning services ensure that your wishes are fulfilled while minimising tax liabilities. We provide comprehensive support in:

• Reviewing and planning wills
• Utilising exemptions and lower tax rates on lifetime transfers
• Optimising lifetime transfers between family members
• Transferring agricultural or business property
• Setting up trusts for asset protection
• Arranging life assurance to cover potential inheritance tax liabilities

Trusts Management

Setting up trusts is an effective way to manage assets outside the inheritance tax net. Our expertise in trusts allows us to recommend the most suitable options for your needs, assist in establishing the trust, and offer ongoing accounting services for trust management.

VAT Compliance Services

Navigating VAT compliance can be challenging due to ever-changing regulations and increased demands from HMRC. At MKP Accountants, we provide an efficient and cost-effective VAT service, which includes:

• Assistance with VAT registration
• VAT planning and administration advice
• Identifying the most appropriate VAT scheme
• VAT control and reconciliation
• Completing VAT returns
• Proactive planning to mitigate future issues with HMRC
• Negotiating with HMRC in case of disputes