Services

We can prepare accounts for Soletraders, Partnerships and Limited Companies. We will explain what the accounts mean in plain English and how the figures can be used to make changes in your business to maximise profit.

• Analyse all costs and expenses
• Ensure all relevant expenses are accounted for
• Compare current year figures with previous years
• Arrange a meeting to discuss the accounts
• Explain how your Gross Profit % compares with previous years
• Explain how your Net Profit % compares with previous years
• Identify costs that can be reduced
• Identify trends in your sales

We can prepare your accounts from computerised or manual bookkeeping records. Our bookkeeping service integrates with the year end accounts and makes it cost efficient for our clients. We can take care of everything from start to finish.

We provide bookkeeping services to all businesses, large or small. We will take the time to understand your business and tailor the bookkeeping to your requirements. Let us take away the stress of sorting your paperwork, allowing you to work on your business rather than in your business.

Features include:

• Process your paperwork on a monthly or quarterly basis
• Identify customers that owe you money and act on the information in ‘real time’
• Identify rising costs more quickly allowing you to negotiate better prices with your suppliers
• Accurate and up to date information for budgeting and forecasting

Our bookkeeping service integrates with other services such as Year End Accounts, VAT Returns, CIS Returns and Management Accounts. Bookkeeping is sometimes viewed as not being very important, almost an afterthought. In reality it is the foundation of every service in accountancy. Good bookkeeping results in accurate data which is a powerful tool for measuring how your business is performing.

We prepare and submit VAT returns to HMRC. VAT legislation can be a minefield and ensuring you file accurate returns on time can be stressful and time consuming. We can prepare your VAT returns alongside our bookkeeping service so you never need to worry about incorrect submissions or late filing penalties again.

VAT services include:

• Registering your business for VAT with HMRC
• Deregistering your business for VAT
• Submitting VAT returns on an invoice basis
• Submitting VAT returns on a cash accounting basis
• Submitting VAT returns using the Flat Rate Scheme
• Advising on paperwork to request from suppliers in order to claim VAT on expenses
• Advising on VAT information to include on sales invoices to UK and international customers
• EC Sales Lists (Sales to countries in the European Union)

We can process your payroll and ensure the information is processed on time. With HMRC’s filing penalties for late Real Time Information (RTI) submissions, there is an ever increasing cost to businesses that are short on time and missing filing deadlines. We will take care of everything, including the tax year end submission and issuing P60s to employees.

If your business is in the construction industry you must be registered for CIS with HMRC. If you are a contractor and take on subcontractors to carry out work you must submit monthly CIS returns. We can calculate and submit your monthly CIS returns to HMRC and ensure they are filed on time to avoid any late filing penalties.

We can prepare management accounts on a monthly or quarterly basis alongside our bookkeeping service. We can measure key performance indicators in real time so you can plan and act on the information to increase profitability.
Management accounts can be used to prepare budgets, forecasting and cash flows. These reports can be used in a business plan to help raise finance.

We can set up a company for you and advise on various options depending on your personal needs. We will also notify HMRC if you require a PAYE Scheme or need to be registered for VAT.

If you have a limited company there is a legal requirement to submit an annual return to Companies House. The annual return includes information such as: Directors, shareholders, shares issued, registered office address, etc. We include the submission of your company annual return as part of our Limited Company Package as standard.

We prepare and submit personal tax returns to HMRC and ensure all available reliefs and allowances are claimed to ensure the least amount of tax is due.

The service includes:
• Calculating your tax liability or refund
• Review your tax code issued by HMRC and obtain a new tax code where it is incorrect
• Ensure all payments on account are included
• Ensure all tax suffered is deducted from your tax liability, this includes:
• Tax on bank interest received
• Income tax on employment income (PAYE)
• Tax credits on dividends

A personal tax return is included as standard in our business packages.

If your business is a partnership, a tax return for the partnership must be completed. The profits of the partnership are divided between the partners on the partnership tax return and each partner’s profit is included on their personal tax return. A partnership tax return is included as standard in our partnership package.

We prepare and submit company tax returns and computations to HMRC and ensure all relevant reliefs and allowances are claimed to ensure the least amount of tax is due.

The service includes:
• Calculating the corporation tax liability or refund
• Ensure any previous losses are deducted from the current year profit to reduce the tax liability
• Claim annual investment allowance in full on business machinery and equipment
• Claim all other relevant reliefs and allowances

A company tax return is included as standard in our limited company package.

If you receive rental income from a property, we can prepare accounts to calculate the net income. We ensure all relevant expenses and allowances are claimed to minimise tax.

If you sell or gift an asset to someone and there is a gain, capital gains tax may be due. Examples of assets that may attract capital gains tax are, property, shares in a company, antiques, jewellery, the goodwill of a business.
Tax planning must be carried out in advance to minimise capital gains tax in the future.

Your estate may be subject to inheritance tax and you will want your beneficiaries to receive as much as possible. With careful planning you can minimise the amount that is paid to the taxman and pass your lifetime wealth to the people you care about most.