Individual Tax

Annual Tax Return Completion for Individual

We are an experienced team of accountants, tax specialists and trusted advisors supporting businesses and individuals. From removing the worry if you have simple tax affairs to advising on complex tax matters including capital gains, property portfolios and investments. Our dedicated and easily contactable tax accountants have the experience to support you and make a hassle-free end of the year for you.

From preparation to completion, our in-house tax specialists can look after every aspect, including:

• Completing your tax return on your behalf and submission to URA
• Bringing your attention to tax benefits, allowances and repayments that are due
• Performing all tax calculations
• Ensuring that you meet all tax deadlines.
• Dealing with URA on your behalf.

Tax Advice for Individuals

Keeping up with ever-changing tax legislation and new benefits can be difficult and time-consuming, yet it can also be key to utilizing assets and protecting your wealth for the future.

Our tax consultants are experienced in all areas of tax planning for individuals. They can help you look ahead and help minimize the amount of tax you pay.

Tax planning is much about understanding your personal position, your goals and your ambitions for the future, therefore we will spend time at the outset getting to know what you are looking to achieve. Through discussing your options thoroughly, you will be able to make informed decisions, and together we can create advice that works for you.

We will also take a proactive approach to advise you on changing legislation. No one likes a nasty surprise at the end of the tax year, so our tax accountants will let you know of any issues well in advance of their due date.

Our Tax advice services can cover, but is not limited to:

• Income tax
• Rental Tax
• Property tax
• Capital gains tax
• Buy to let/rental
• The effects of tax-efficient investments
• Stamp duty land tax
• Local service tax

ACCOUNTING SERVICES

SMALL BUSINESS ACCOUNTING

Dedicated accounting services for small businesses in all districts of Uganda. They trust us to answer their queries, provide proactive accountancy and taxation advice. At City Side, we provide complete accountancy, taxation and bookkeeping services for small businesses.

Our services to small businesses include the following:

• Advice on appropriate business structure and trading vehicle
• Business plans and financial forecasts
• Company formation and secretarial services
• VAT, PAYE & NSSF registration
• Bookkeeping services
• Monthly VAT returns and quarterly Income returns for Individuals
• Management and annual accounts and tax returns
• Payroll and auto-enrolment
• Cloud accounting software Using Quick Books & Tally
• HR support and advice for small businesses
• Business advice and support

We have built an in-depth knowledge of small businesses, understand the specific needs of our clients and do much more than produce the accounts and tax returns.

CASHFLOW FORECASTS

Cash flow planning and forecasting is key to lowering financial stress. Here are some of the services provided under cash flow services:

• Detailed projection on where the money is coming from i.e. income.
• Provide details of where the money goes i.e. Expenditure Records.
• Provide a simple way to compare your real cash flow with your forecast.
• Remove the element of uncertainty and guesswork. Using the cash flow, you can see the effect of a decision on expenditure before you commit
• Provide you with the peaks and troughs of your cash flow during a financial year.
• Highlight potential funding gaps/problem areas in expenditure and can help prioritize and plan the timing of larger purchases.
• Know your position against turnover and profit targets.
• Enable you to make quicker decisions in turbulent times.

FINANCIAL Accounting for SOLE TRADERS

Businesses need peace of mind that their tax situation is being managed.

Our business Accountants will prepare the accounts and tax return for business and advice on how to report losses.

As with all tax situations, beyond compliance, tax matters can be more challenging. For example, buying and selling a business, rollover relief, managing risk – these are all areas in which we can help a business.