STAYING COMPLIANT
Running a business can be relentless, but you still need to ensure all your financial basics are done correctly and on time. Our clients are busy people and know they can rely on us to manage their business and tax compliance, so they are free to focus on other things. See our Article on 'How to Plan Your Company's Financial Lifecycle' here.
From annual accounts and payroll, through to business tax, VAT and Making Tax Digital, we’ll ensure that you’re able to fulfil all your obligations as a business, both efficiently and on time.
Annual Accounts Compliance And Reviews
If you’re busy running a business, then it’s easy for annual accounts to become something done purely for compliance purposes.
And whilst businesses must meet Companies House and HMRC requirements, annual accounts also contain a wealth of valuable information for owners to tap into.
For accounts to be truly meaningful, they need to be prepared swiftly while the information is current. We aim to produce accounts within six weeks of receiving your data and we’ll happily work with account records of any type; from paper documents, through to bespoke accounting systems.
Along with ensuring you fulfil your legal obligations, we will also review your annual accounts with you and suggest improvements and refinements to consider for the year ahead.
We can also advise on your margin, overhead variances, debt ratios or cash flow, as needed, to help your future decision-making.
This review is client-led so we’ll talk through your numbers in as much detail as you need us to. And, you needn’t worry about asking us a basic question or for more explanation – we’re always happy to go over the detail to ensure it’s clear.
TAX & VAT
Exactly how much tax does my business owe, when do I need to pay it and how?
From filing company tax returns, partnership self-assessments and VAT returns, to personal tax for directors, partners and sole traders, we’ll ensure that everything is declared correctly and on time, as well as highlighting future tax opportunities.
Whether you are a limited company, partnership, LLP or sole trader, you’ll have specific tax obligations with which you need to be compliant.
In addition, if your turnover or earnings exceed £85,000, you will also need to register and submit quarterly VAT returns.
The trouble is that with all the different tax rates, allowances and reliefs, these calculations can be complicated and there are hefty penalties if you get things wrong or miss a deadline.
Our tax team has vast experience in this area and can ensure your business is fulfilling its tax obligations, as well as reviewing ways to minimise your Corporation Tax bill in the future and providing specialist tax advice, if needed.
We will also keep in touch with your team throughout the year to update you on relevant tax changes that we can help you plan ahead for.
PARTNERSHIPS & LLPs:
From preparing and filing your partnership tax return, to assisting the partners with their personal Self-Assessment tax returns and calculating NIC and Income Tax payments, we can oversee all aspects of your tax compliance. If your partnership or LLP is registered for VAT, we can also manage your quarterly VAT returns, as well as preparing and reviewing your annual profit and loss account, along with any other specialist tax advice you need.
LIMITED COMPANIES:
We can manage all aspects of your tax compliance; from preparing and filing your company tax return with HMRC, to looking after your VAT reporting and your directors’ Self-Assessment tax returns. We can also review your business tax position each year and make recommendations, including how to remunerate your directors more tax efficiently, looking at whether the business qualifies for Capital Allowances, R&D or Business Rates tax relief and other specialist tax advice.
SOLE TRADERS:
If you are a sole trader we can prepare your profit and loss account and file your Self-Assessment tax return, along with managing your VAT reporting, if needed. By knowing exactly how much tax you need to pay in advance, you can plan your cash flow throughout the year. We can also review your business tax position annually to help improve your tax efficiency and provide specialist advice, as needed. Please call us or fill out the contact form below to find out more.
BOOKKEEPING
If you manage your own bookkeeping, it can be a drain on your time and there’s always a risk of costly accounting errors. For many owners, it’s the task they most dread! Outsourcing your bookkeeping to us offers a hassle-free solution, which also saves you the expense of employing your own bookkeeper. Whatever the size of your business, we can create a bookkeeping solution that works for you. With increased automation and data recognition software, it’s much easier to share information, allowing a joint approach to bookkeeping that is very cost-effective. Not only do you benefit from having one of our qualified accountants overseeing things, we can also arrange for them to work at your premises, if needed.
COMPANY SECRETARIAL
Do you know what all your legal obligations are as a limited company and if they’re being carried out properly? If, like most directors, you’d rather not spend time doing company admin, then having a competent team who understand your legal obligations and can carry out your company secretarial duties, makes good business sense. From submitting your annual Confirmation Statement and acting as your registered office, to completing dividend vouchers and AGMs, we can fulfil all the company secretarial duties required of a limited company, cost-effectively and without hassle.
PAYROLL
Keeping up with employment law changes and complex payroll processing can be time consuming, not to mention expensive and stressful if things go wrong. With the added impact of Coronavirus and staff furloughs, it’s not surprising that many employers now prefer to outsource their payroll. Our dedicated payroll team works with employers of all sizes, from two staff to teams of two hundred plus. This secure and confidential service includes administering e-payslips and online wage payments, along with managing all Payroll, Furlough Scheme and Auto-Enrolment compliance on your behalf. Along with processing your payroll as efficiently as possible, we can also consult with our tax team on staff/director remuneration strategies and relevant tax planning opportunities.
Call us or fill out the contact form below to find out more.
The big picture matters, but so does the detail. Ensuring you’re up to date with compliance matters and payment deadlines can be time consuming, which is where we can help.
Debbie Boulton
Managing Director