Industries Served

iTax Solutions aims to maintain its reputation of a dependable accounting services and tax consultancy serving small businesses in various industries. Our portfolio is expansive and demonstrates our capability of serving small businesses with their accounting and taxation needs in London.

Key Business Types Served by iTax Solutions

Healthcare

Small businesses in London's healthcare sector mainly comprise of dispensaries, pharmacies, private medical practices, opticians’ and dental practices. With extensive knowledge of the tax regulations that apply to the healthcare industry, we help dentists, opticians, GPs, and pharmacists with tax planning and accounting requirements and advise them on relevant issues specific to them.

IT Contractors

As IT is a complex industry with a sophisticated set of taxation laws and regulations, small and emerging businesses in this industry often end up paying significant sums out of their hard-earned income in taxes, which they could be exempted from. For instance, many IT contractors fail to understand the intricacies of IR35 fully and whether or not their enterprise comes in the fold. We explain the law to them and guide them through its compliance.
As dedicated IT accountants, we know how to help IT companies claim legitimate expenses and how best to optimise their profits.

Real Estate Developers

Real estate accounting and tax is a fast-evolving area of the British law, thanks to the ever-changing shape of the industry. For small contractors and developers these changes could lead either to missed opportunities for tax relief or to avoid penalties or interest payments HMRC may demand on an erroneous tax return. There is also the matter of unusually complex VAT rules for this industry, which can lead to additional penalties and VAT charges if not addressed correctly.
Additionally, developers might miss the tax incentives they may be eligible for without the help of a small business tax accountant taking care of their needs.
With our real estate accountancy and taxation specialists helping you with tax returns, such issues can be avoided. We can help keep your books free of errors – and in line with current regulations – and claim tax relief that could add to your project profits.

Restaurants & Hospitality Businesses

Businesses in the hospitality and food industry are always on HMRC’s radar due to the nature of their transactions, which are mostly done in cash. However, this means more frequent and thorough checks and assessments for business owners in this industry. As your tax accountants, we can help you ensure your books are neatly maintained, your VAT records are thorough, and your returns are filled without error and submitted on time. We can also assist restaurants, inns, bed-and-breakfast enterprises, hotels, and other businesses in these sectors with their year-end accounts and due diligence needs during takeover plans.

Retail & Wholesale Businesses

Retail and wholesale businesses record the highest number of transactions in their books in comparison with most other industries. This increases the likelihood of errors in the books and tax calculations that could lead to penalties, which could be avoided with the help of a specialist retail/wholesale tax accountant on the team. Furthermore, stock pilferage, stock waste, and erroneous recording of stocks are common for stock-based trading businesses.
With our professional bookkeeping and tax experts on your side, you can focus on your operations and strategy with the peace of mind that a team with 100% accuracy record is looking after your books, calculations, and tax returns.

Technology & Other Startups

In the age of start-ups in various industries, the tax law has emerged as a complicated system. There are also industry-specific tax reliefs to claim for starting up businesses that you can only find with a team like iTax Solutions with immense experience in the field.

Key Business Types Served by iTax Solutions

HEALTHCARE

Small businesses in London’s healthcare sector mainly comprise dispensaries, pharmacies, private medical practices, opticians’ and dental practices. With extensive knowledge of the tax regulations applicable on small businesses in healthcare industry, we help dentists, opticians, GPs, and pharmacists with tax planning and accounting requirements and advise them on relevant issues specific to their nature of business.

IT CONTRACTORS

As IT is a complex industry with a sophisticated set of taxation laws and regulations, small and emerging businesses in this industry often end up paying significant sums out of their hard-earned income in taxes that they could be exempted from. For instance, many IT contractors fail to understand the intricacies of IR35 fully and whether or not their enterprise comes in the fold. We explain the law to them and guide them through its compliance.
As dedicated IT accountants, we know how to help IT companies claim legitimate expenses and how best to optimise their profits.

REAL ESTATE DEVELOPERS

Real estate accounting and tax is a fast-evolving area of the British law, thanks to the ever-changing shape of the industry. For small contractors, developers, and property owners, these changes could lead either to missed opportunities for tax relief or to avoid penalties or interest payments HMRC may demand on an erroneous tax return. There is also the matter of unusually complex VAT rules for this industry, which can lead to additional penalties and VAT charges if not addressed correctly.
Additionally, developers might miss the tax incentives they may be eligible for without the help of a small business tax accountant taking care of their needs.
With our real estate accountancy and taxation specialists helping you with tax returns, such issues can be avoided. We can help keep your books free of errors – and in line with current regulations – and claim tax relief that could add to your project profits.

RESTAURANTS & HOSPITALITY BUSINESSES

Businesses in the hospitality and food industry are always on HMRC’s radar – simply due to the nature of their transactions, which are mostly done in cash. This, however, means more frequent and thorough checks and assessments for business owners in this industry.
As your tax accountants, we can help you ascertain your books are neatly maintained, your VAT records are thorough, and your returns are filled without error and submitted on time. We can also assist restaurants, inns, bed-and-breakfast enterprises, hotels, and other businesses in these niches with their year-end accounts and due diligence needs during takeover plans.

RETAIL & WHOLESALE BUSINESSES

Retail and wholesale businesses record the highest number of transactions in their books in comparison with most other industries. This increases the likelihood of errors in the books and tax calculations that could lead to penalties, which could be avoided with the help of a specialist retail/wholesale tax accountant on the team. Furthermore, stock pilferage, stock waste, and erroneous recording of stocks are common for stock-based trading businesses.
With our professional bookkeeping and tax experts on your side, you can focus on your operations and strategy with the peace of mind that a team with 100% accuracy record is looking after your books, calculations, and tax returns.

TECHNOLOGY & OTHER STARTUPS

In the age of start-ups in various industries, the tax law has proven to be a complicated system. There are also industry-specific tax reliefs to claim for starting up businesses that you can only find with a team like iTax Solutions – a team with immense experience in the field.

What Our Clients Say

Amir Choudhary (Plumber) on Trust Pilot:
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“ITax Solution has been looking after our accounts for years now. They provide excellent customer services and have been consistently reliable in dealing with all my enquires.”
Alex Cast (Mortgage Broker) on Trust Pilot:
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“Very happy with Sanjar’s advice and service.”
Sofia Gerguri (Mortgage Broker) on Google Review:
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“Sanjar has provided very informative and professional service. He advised me not just on the accounts but also gave advise on pensions and taxation. Sanjar was always available to give advise and kept in touch on regular basis. In addtion his service is also with a personal touch. He even sent me Christmas card, no account has done this before. I already have recommended his services and continue to do so. Although our business came to an end I will definitely will be using his services in the future. Many thanks Sanjar for all your support Vaide.”
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