The unique nature of taxes, sales and transactions at a Post Office mean that your accounting requirements are probably quite complex.
You may be overpaying on your taxes or perhaps your post master’s salary has become unsustainable. Demand may have fallen due to the coronavirus, or you could be facing a shortage of trained staff to take on.
The financial challenges facing your Post Office business may be challenging, but the good news is they are certainly by no means unsolvable.
We at Sterling Finance can help you solve the challenges you face, with an accounting service that takes an active interest in your business. Whether you want to reduce your tax liability or strengthen the financial status of your Post Office, we have the expertise and the nous to help you achieve a satisfactory outcome.
Are things looking bleak?
Post Offices around the country are facing a potentially bleak period of downturn as demand from business customers falls. The coronavirus is the chief reason behind this, and you may already be reeling from its impact.
We have helped resolve a variety of other challenges faced by Post Office businesses over the last 24 months, including:
- Overpaying tax
- Expensive PAYE
- Fall in demand
- Rising costs
- Unsustainable salaries
- Loss of income
- Store closures
- Issues with tax status
No business is immune from the predicted period of economic downturn. Here at Sterling Finance, we are optimistic about the economy bouncing back, however things will not be a stroll in the park for a lot of businesses.
Having a good accountant is more important than ever.
Paying your business’s tax
Like any business, a Post Office must pay its fair share of taxes. Whether or not you have any to pay depends on your profitability for the tax year. As a limited company, you will pay corporation tax on profits, which is 19%.
We can assist with ensuring you pay the correct amount of tax. We can also help reduce your tax obligation through legitimate means. For example, you may be better of investing in new equipment to reduce your tax liability.
If you are concerned about your tax arrangement or you would like an expert to oversee the finances for your branch, we are here to help.
We have several Post Office businesses on our books as customers. We can assist with tax planning and accounting and we provide free, confidential advice.