What We Can Do For You
Contact Us
Financial Accounts
Regardless of size, the type of business you are in, or whether you are a sole trader, partnership or Limited Company, keeping up to date and accurate records is crucial when running a business. To help you, we provide a wide range of services which include:
• Preparing management and interim accounts
• Preparing year end accounts
• Cash flow projections, balance sheets and profit and loss accounts
Value Added Tax (VAT)
We can help and assist you in a number of ways. Our services include:
• Becoming registered: advising on when you need to register/when you have to register, the records you need to have and keep, together with actually completing the necessary forms
• Once you’re registered: completing the monthly/quarterly/annual return
• Ensuring you’re accurate: Advising on what you can and cannot claim in preparing your VAT Return. Advising you on what is subject to output VAT
• Keeping you right: advising on submission dates, penalties and surcharges, notifiable changes, transfers of going concerns
• Ceasing to be registered: advising when you have to de-register, when you can choose to de-register, handling issues surrounding de-registration, completing the necessary forms
PAYE/Salary Preparation
The Inland Revenue is becoming increasingly vigilant regarding the shortcomings of any business's PAYE system. We can help either with regards to your own payroll calculations or by running your payroll for you. Our services include:
• Getting going: Advising on whether you need to deduct PAYE, setting up the records, registering with the Inland Revenue, showing you and helping you to make the deductions
• Once you’re registered: Operating the weekly/monthly payroll for you
• Ensuring you’re accurate: Helping you with any problems that might come along, i.e. Student Loans, statutory rights, working family tax credit
• Keeping you right: Advising on filing dates, completing the year end returns, PAYE settlements agreements, Forms P11D , Dispensations
Tax Compliance and Planning
The government has many ways of collecting tax. The relative levels of the different taxes, and their effects on any specific business or individual, are constantly changing. We can help you reduce your contribution by considering your complete situation and providing you with proactive, easy-to-understand advice. Areas in which we can offer advice include:
—PERSONAL TAX
• Family planning: Using your Tax allowances and Tax Bands to their full. Ensuring the family comes into the equation
• Planning for the future: Using your Pension to its maximum
• Savings: Ensuring they work for you
• Trusts
—EMPLOYEES AND DIRECTORS
• Tax efficient benefits in kind
• Nice wheels: The choice of company car. The choice of a car or salary
• Minimising National Insurance contributions
—BUSINESS TAX
• Getting going: the best and most suitable vehicle through which to trade - be it as a sole proprietor, partnership, limited liability partnership, or limited company
• Keeping you right: What records to keep, how to keep them, should I use a computer?
• Ensuring you’re accurate: What expenditure is allowable for tax, do I need to be VAT registered? I’m employing someone – what do I do?, company secretarial matters
• Capital expenditure: Helping with the questions that arise. What is the best time to buy a business asset? Should I buy outright or should I lease or should I buy on HP? How do I deal with the bank? What tax allowances are available?
• Limited companies: Preparing the statutory accounts, dividends v salary, corporation tax returns
• Losses: The most tax efficient use of losses
—CAPITAL GAINS TAX
• Family planning: Making use of CGT annual allowances and reliefs within the family
• Watching the clock: Timing the disposal of assets for CGT purposes
—INHERITANCE TAX
• Practical planning, for example, lifetime gifts out of income, lifetime transfers and estate equalisation
• Trusts
• Watching the clock: Passing assets on to the next generation
• Will reviews and variations