With specific issues relating to diesel prices, technology and the current economic conditions dampening demand, road hauliers should be looking to minimise their overall tax leakage by engaging with a firm of pro-active accountants.
Those in this sector tend to be interested in our services relating to:
- Start-up assistance (incorporation and tax registrations),
- Preparation and submission of annual accounts and tax returns,
- HMRC enquiries.
- Recovery of VAT charged on expenses incurred abroad,
- Vehicle purchase capital allowances,
- Assistance with vehicle replacement cycle,
- Cash flow management and invoice discounting / debt factoring,
- The setting up of self- billing agreements with customers and suppliers, which are VAT compliant,
- Introduction of an owner driver set-up, saving employer;s national insurance,
- Comparing the overall tax position when operating as a limited company versus a sole trader or partnership,
- Claiming the maximum tax relief for subsistence and overnight expenses,
- Computerised back-office book-keeping and front office billing / scheduling systems,
- Tax planning.
Haulage clients who are fearful that their tax affairs may be enquired into, may wish to consider taking out our tax investigation insurance, before we submit their tax returns to HMRC.
Haulage is a sector with unique accountancy requirements. Instruct us to act for you, and rest assured that we will understand your business and look after your best interests. We will be pleased to provide referees, from other haulage businesses, once we have received their permission, if you require.
Knowles Transport would like to commend all the fantastic companies that it works with on a daily basis for all of their support and help, that enables it to deliver its complex range of services. Alex would like to give special thanks to Whiting & Partners, who is Knowles' longest standing service providers, having worked with Knowles for the last 60 years. Their accountancy service and advice have kept Knowles in good stead for a long period and allowed us to continue to reinvest and grow our business on sound accountancy advice. Long may our relationship reign.