Do franchisees need to file their own tax returns?
Yes — franchisees are responsible for their own tax returns. Sole traders file Self Assessment; limited companies file Corporation Tax returns and accounts with Companies House.
Can a franchisee claim capital allowances on fit-out and equipment costs?
Yes — franchisees can claim capital allowances including the Annual Investment Allowance (AIA) on fit-out, equipment, and technology costs, reducing tax in the year of purchase.
What are the tax implications of acquiring a franchise in the UK?
Initial franchise fees are capital expenditure (not immediately deductible), while ongoing royalties are revenue expenses. Corporation Tax applies to profits, and VAT registration may be required.
Pensions
Failure to comply could result in a fine from The Pensions Regulator. Don’t get caught out – find out how we’re helping employers with auto enrolment.
Management Accounts
With nearly five decades of experience across several industries, we can analyse your business finances as specialists in this field of accounting.
Forecasting & Budgeting
One of our chartered accountants will handle your cash flow forecasts and budgets helping you achieve real-world financial insights.
Bookkeeping
Accounting and bookkeeping are important, but they don’t have to be a hassle.
Partnerships
Our team understands that your time is your most valuable asset, which is why we offer a comprehensive range of accounting services for partnerships.
VAT
Taxes like value added tax (VAT) are complex and demanding on businesses – so complicated most businesses accidentally overpay or underpay VAT. Simply put, it’s a bit of a hassle.
Payroll
With our payroll and auto-enrolment solutions, you can say goodbye to worrying about paying yourself and your employees every month.
Company Secretarial
As a business owner, the last thing you need is to use up valuable resources ensuring you’re compliant with the Companies Act.
Company Formation
Registering a company is exciting, but its also a major part in laying the first foundations of your company and there’s more to consider than just buying a cheap ready made company on the internet!
