Common Questions
Frequently Asked Questions
I'm a Plumstead CIS subcontractor. Am I owed a refund?
Almost certainly, if you've had 20% deducted and haven't claimed it back. After your £12,570 allowance and legitimate expenses (van or mileage, tools, materials, PPE, phone, CSCS, accountancy), the actual tax due is usually far less. Full-year refunds are typically £2,000-£6,000. We'll maximise yours.
I run a Plumstead High Street shop or takeaway. What VAT applies?
For food businesses VAT is mixed, unprocessed food zero-rated, hot takeaway and catering standard-rated. For general retail, most goods are standard-rated. We set up your till to capture the right rates and handle VAT registration and returns once you reach the £90,000 threshold.
I'm a Plumstead self-employed driver. What can I claim?
Vehicle costs by either the 45p/25p (now 55p/25p for 2026/27) HMRC mileage rate or actual costs (fuel, insurance, service, MOT, finance, capital allowances). Plus phone proportion for the apps, ULEZ business proportion, operator commission or rental, PCO licence for private hire, cleaning. We'll pick the better vehicle method each year and capture everything.
My Plumstead business is family-run. How do we pay family members?
Through proper PAYE for genuine work at market rates, with payslips and RTI submissions. Family shareholders receive dividends reflecting their shareholding. Roles and rates should be documented so HMRC sees the economic reality matches the tax treatment. We'll set it up correctly.
Should my Plumstead business be a Ltd company?
At profits above £40,000-£50,000 a Ltd company typically saves £2,500-£5,000+ a year through salary-plus-dividend structuring, plus limited liability. Below £30,000 the saving rarely justifies the extra admin. We'll model both with your numbers.
I'm a Plumstead landlord. How has the Elizabeth line affected my position?
Capital values around Plumstead and Abbey Wood have risen with the Elizabeth line. For investment property this increases potential CGT on disposal and IHT exposure. We handle your landlord self-assessment with Section 24-adjusted mortgage interest, and advise on disposal planning and whether a company structure helps.
I've fallen behind on my Plumstead tax returns. What do I do?
File the actual returns immediately. For CIS subcontractors the returns often show a refund, meaning no tax lost and penalties usually cancellable or reducible. If tax is owed, we file, request penalty reductions on reasonable-excuse grounds where applicable, and arrange Time to Pay. Acting quickly is key.
How do I get started?
Book a free 15-minute call via Calendly, or call our office on 020 8050 4564 or mobile 07478 645331. We work with Plumstead clients fully online, we're experienced with CIS trades and the diverse SE18 business community, and we handle urgent late-filing including same-day filing.