How We Can Help You
Bookkeeping is the one main annoyance for any small business. Because records of business transactions must be kept in good order for H. M. Revenue and Customs, it can be a major headache for some people. However, we offer a service that is both flexible and simple for your needs.
We are also able to provide you with our purpose developed bookkeeping software to enable you to do the bulk of the processing yourself, helping to keep your costs to a minimum.
In many accountancy practices, completion of your accounts will not normally take place until some time after your year-end (in some cases this could be up to 18 months after the event). This may result in some unsuspecting tax bills with only a short period of time to pay, thus hindering your financial decisions when it matters.
Our practice believes there is a better way. We complete your accounts on an ongoing basis, so every month or quarter your data is updated from the records you provide – allowing you to see your current financial position including tax and VAT liabilities, and allowing you time to prepare.
VAT is simply a tax added on top of goods and services that you supply or are supplied to you. Unless your turnover is above £85,000 in the last 12 months, you do not have to register. However, there are some circumstances where registration would be a benefit, especially if there are regular repayments, etc.
We would handle all the registration requirements needed and then, if appropriate, complete your quarterly VAT returns for you. We can also arrange for a member of our staff to be at your premises when there is a routine visit from H.M.R.C. Therefore, you do not need to do anything apart from sending or receiving a payment when due.
If you employ staff in your business or you are a director of your Limited Company then we can calculate your Tax and National Insurance for you either on a weekly or monthly basis. Each week or month you tell us the details and we will calculate the wages and post your payslips to you including details of any monthly Tax and National Insurance payments to H. M. Revenue and Customs.
If you are the sole employee of your Limited Company, then we calculate your most tax efficient use of earnings and dividends. As we process your payroll scheme you will not have to burden yourself with the details of when, what and how you should file; we will take care of it all.
Although many businesses are still run by the owners, i.e. Sole Traders or Partnerships, there is still some legislation that you must abide by, usually with H. M. Revenue and Customs. With a Limited Company, there are other matters to adhere to such as appointment of directors and company secretaries, allocation of shares and the statutory filing of accounts at Companies House.
If appropriate, we will make sure that all the above statutory rules are observed and will complete all the necessary documentation for your business as standard. This means that even if you are trading through a Limited Company you will not need to worry about excessive paperwork or legislation.
Tax & Other services
At some point in your business you will almost certainly pay tax from the profits that you make during a year. However, this could be at the basic rate of 20%, 40% or at 45% for the top slice of earnings. Although we cannot magically make taxes disappear, we can make sure that you do not needlessly overpay by making sure that you are given the best possible advice during the course of your business.
Not all our services can be categorised. However, we offer many other services that may benefit your business. We will provide all extra services that you would expect from an accountancy practice including, where appropriate, business start up advice, cash flow forecasts, accounts forecast or all matters relating to HMRC tax investigations etc.