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Be Successful On Your Campaign Projects While Our Accountants For Creatives Work For You

Thinking, planning, and executing a creative plan that can grab the attention of many people can take up much of your time.

So when do you plan to analyse your accounting books and prepare your financial reports for filing?

Well, if you don’t have extra time– that’s alright. You can always hire experts from Pearl Lemon Accountants to take care of your financial books.

Book a call now to learn more about us.

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The Downside of Winning

Winnings from any kind of gambling are considered income and must be recorded as such by the winner on their tax return.

Casino games (such as slots, blackjack, craps, and roulette), lotteries, raffles, and even the odds at the races for horses and dogs may all add up to a nice side income.

The fair market value of awards that are not cash, such as vehicles and trips, must often be included in gross income.

One’s tax situation with respect to winnings and losses from gambling might differ greatly depending on whether or not the gambler is engaging in the activity as a hobby or for profit.

Certified Public Accountants (CPAs) whose customers have gambling revenue and losses will need to understand the exact method in which their clients engage in such activities and, in some cases, if they have extra reporting and withholding responsibilities.

Our Accounting Services

Are you not sure what type of accounting services you require?

We have a wide range of offers for you to choose from below.

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Small Business Services

A business can benefit from the services of an accountant at different stages of its development for various reasons. In addition to assisting you with creating a business strategy, accountants can assist you with loan applications and tax audits. A new business owner who hires an accountant to handle time-consuming tasks will spend less per hour than if they were to do it themselves. Knowing that your money is in the hands of a professional will give you more time to earn income and a sense of peace knowing that your money is in good hands.

Corporate Tax

As a business owner, it is essential to conduct your business in the most tax-efficient manner possible. It is important to realise that when new, more stringent standards are implemented, you must be acquainted with the level of risk and the need to adhere to them. There is no limit to how large or small a firm is, and we collaborate directly with our corporate tax professionals to tailor the tax services we provide to your specific needs. As a result, we will ensure that your financial planning is sound, that your tax breaks are maximised, that your compliance responsibilities are met – and that the total tax risk is adequately managed.

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HMRC Tax Investigations Advice

Having to deal with tax audits and inspections can be frustrating and confusing. If unsure of your situation, you should hire a professional to assist you immediately after an investigation begins. We can assist you if you experience difficulty paying HMRC contributions or need assistance dealing with HMRC concerns involving VAT, PAYE, self-assessment, or Corporation Tax. Moreover, we are capable of assisting you to prevent being subjected to an HMRC tax inquiry in the first place by ensuring that you are not subjected to one at all.

International Tax Planning

We offer professional advice on domestic and international taxes to help you save money even if you are doing business outside the UK or planning to live abroad. To determine your tax liability, you must consider how you are structuring your worldwide activities as a private and corporate entity. With the help of our worldwide tax strategy, we will ensure that you pay the least tax possible on each transaction. You can be confident that your organisation and yourself will remain compliant with tax laws as we employ some of the leading international tax specialists in the industry.

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Payroll Services

By contracting your internal payroll operations to Pearl Lemon Accountants, you may reduce the stress of payroll and pension administration and related legislation stress. Your internal systems can focus on profitable, productive operations and become more efficient. Knowing that skilled, comprehensive back-office payroll help is available and that your firm’s payroll is always compliant can be reassuring when regulations and policies constantly change.

Personal Tax Services

We offer professional advice on domestic and international taxes to help you save money even if you are doing business outside the UK or planning to live abroad. To determine your tax liability, you must consider how you are structuring your worldwide activities as a private and corporate entity. With the help of our worldwide tax strategy, we will ensure that you pay the least tax possible on each transaction. You can be confident that your organisation and yourself will remain compliant with tax laws as we employ some of the leading international tax specialists in the industry.

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R & D Tax Relief Advice

There is no doubt that the United Kingdom’s Research and Development (R&D) tax incentive is among the most lucrative and productive in the world. Several government-backed relief programs can lower or even reverse a company’s tax payment by claiming government-backed relief. Despite this, many qualified businesses do not apply for assistance, either because they are unaware of the assistance or because they feel it is too complicated or inappropriate for their organisation. Our team at Pearl Lemon Accountants is more than capable of assisting you with this process.

Tax Planning Services

There is great complexity and constant change involved in corporate tax policies. To reduce your company’s tax liability, strategic tax planning is crucial. As a result of our highly qualified, business-minded, and skilled tax professionals, you can be confident that you are in excellent hands with our tax professionals, so you need not worry about your taxes. Pearl Lemon Accountants offers a comprehensive corporate tax compliance service to ensure that your company is structured in the most tax-efficient manner and that your corporate tax liabilities are minimised as much as possible.

If you need more services, just click here to see our other offers.

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Why Pearl Lemon Accountants?

The Pearl Lemon Group owns Pearl Lemon Accountants. Our access to resources implies that we have much more to offer than other businesses. There is no stopping us from being a global corporation with operations in Asia, Africa, North America, and Europe.

Working with individuals, multinational companies, and seven-figure businesses is our pleasure. You can rest assured that we are not just another accounting firm like the rest.

Combined, our accounting staff has more than 100 years of experience. The services include filing tax returns, self-assessments, audits, and VAT returns for individuals and businesses. It is possible to entrust our experts with more complicated accounting tasks such as payroll management, fiscal auditing, etc.

Having originated as a digital marketing company, we have been at the forefront of the latest time-saving and cost-saving procedures and processes since the beginning of our company. As a result, we can quickly accelerate the bookkeeping cycle for our clients while also showing them how to improve the efficiency of their bookkeeping in the future.

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Creatives Need Accountants Too

You have your taxes, financial books, and reports to accomplish, right?

And you’ve probably experienced being late or not filing and getting penalties for it because you couldn’t prepare your accounts.

That’s why you need an accountant too, even if you’re a creative.

You don’t even have to visit our office because we can communicate via digital means. Almost everyone’s doing so.

So talk to us today to get started.

FAQs

Tax preparation refers to preparing tax returns— usually income tax returns— or someone other than the taxpayer, usually for a fee. Taxpayers can prepare their returns with or without using tax preparation tools and internet providers.

Tax planning is examining a financial condition or strategy to guarantee that all parts of your finances work together to ensure that you can pay the least amount of taxes feasible. A tax-efficient plan reduces the amount of money you pay in taxes. Individual investors should include tax preparation in their financial plans.

An audit is a process of examining or inspecting various account books by an auditor. This is accompanied by a physical inventory check to ensure that all departments follow a defined method of documenting activities. 

It is done to ensure the correctness of the organisation’s financial accounts. Internal audits can be performed by workers or heads of departments, while external audits can be performed by an outside business or external auditors. The idea is to check and verify the accounts by an independent authority to ensure that all books of accounts are done fairly and that no misrepresentation or fraud is being conducted. 

All publicly listed firms have to get their accounts audited by an independent auditor before they declare their results for any quarter. The objective is for an impartial body to audit and validate the accounts to guarantee that the accounting records are done fairly and that no deception or fraud is going on. Before releasing their quarterly results, all publicly traded companies must have their accounts examined by an independent auditor.

Here at Pearl Lemon Accountants, we offer the services that best suit gamblers such as yourself.

So what are you waiting for? Book a call now.