Accountants & Tax Practitioners

Services

Our tax services help minise your tax leaving you with as much as possible to invest in your business. But most importantly, we will actively help you grow your business.

We offer a wide range of services – both traditional accountancy services and more innovative business advisory and development services. Our most basic services such as bookkeeping, accounting, and payroll services are designed to add significant value to your business and personal wealth. We provide the following services.

Accounts

Bookkeeping

Every business is advised to keep accurate and up-to-date books. However, many people find completing their records is extremely time consuming and tedious. To make it easy send us your accounting records on a monthly basis and we will process the information at our offices. We use a variety of different software packages to suit our client’s needs.We can provide you with as few or as many reports as you require ensuring you have clarity of your business’s results; who owes you money or what payments you need to make.

Annual accounts

We prepare statutory accounts for limited companies in accordance with the Companies Act, and annual accounts for partnerships, sole traders and other organisations ensuring compliance with generally accepted accounting practice. In addition, we provide management accounting services for a number of clients, tailored to suit their requirements and needs.

Accounts articles

Information will be available soon.

Tax

Self Assessments

Preparing your self-assessment tax return is far from straightforward – let our accountants take care of it for you. We’ll calculate your taxable income and let you know what you’ll need to pay HMRC or, alternatively, what HMRC owes you. On top of that, we’ll submit everything to HMRC on your behalf. Self-assessment explained If you’re self-employed, a company director or hold any other role that sees you receive income that is not immediately taxed, you’ll need to file a self-assessment tax return. As a result, self-employed people need to maintain extremely detailed records of their sales and takings, their expenses and so on. This, though, is just one of the challenges you’ll face completing your own self-assessment.

VAT returns

Like it or not, all businesses need to submit VAT returns – and preparing them is difficult; very difficult! As a VAT-registered business, you’ll be required to send HMRC a VAT return every month, quarter or year. In simple terms, your VAT return is calculated by deducting the VAT you can claim back from the VAT you’ve charged on your sales and your completed VAT return will state either an amount that is owed to HMRC or that HMRC owe your business.

Corporation tax returns

There are specific things you must do to work out, pay and report your tax. We will help you with all your tax needs. Our accountants can teach you or take the job off you for keeping accurate account records, for your company tax return. We will work out how much Corporation Tax you need to pay and even arrange payment. Your deadline to pay Corporation Tax is usually 9 months and 1 day after the end of your ‘accounting period’. Filing your Company Tax Return by your deadline is usually 12 months after the end of your accounting period.

Capital gains tax

To find out more please refer to HM revenue and Customs website https://www.gov.uk/capital-gains-tax

Tax articles

Information will be available soon.

Payroll

Our professionals will provide you with independent and custom-tailored investment analysis and advice. Whether you’re a hairdresser, an architect or employ a personal care assistant, if you employ at least one person you are an employer and you have certain legal duties to maintain payroll, Workplace Pension Scheme. Our accountants will relieve you of the payroll burden with a full range of services. Whether you’re a Sole Trader, a Partnership, or a Limited Company, you will receive a personalised service from a dedicated payroll administrator; Payroll preparation and administration Advice on statutory holidays and entitlements including maternity, paternity and sick pay Year end payroll returns and P11d Workplace pension scheme advise Soft or hard copies of payslips.

Legal

Making tax digital. What is Making Tax Digital?

  • Making Tax Digital (MTD) is an HMRC initiative designed to make sure the UK tax system is effective, efficient and easier for taxpayers.
  • Making Tax Digital for business (MTDfb) begins on 1 April 2019 with MTD for VAT. From that date, VAT-registered businesses above the threshold of £85k will have to keep digital records and submit VAT returns using compatible software.
  • Other components of Making Tax Digital, such as income tax and corporation tax, have been placed on hold until April 2020 at the earliest. Check this link for updates on the latest developments, straight from HMRC:
  • https://www.gov.uk/government/publications/making-tax-digital/overview-of-making-tax-digital

 

Company formation

Here are just a few of the ways we can help you get started:

  • Preparing a comprehensive business plan
  • Determining the best structure of your business: sole trader, partnership, limited liability partnership, or limited company
  • Where appropriate, assisting with company formation and company secretarial duties
  • Registering your new business with the HMRC
  • Establishing relationships with banks, insurers, etc
  • Preparing cashflow projections and assessing finance needs
  • Preparing and submitting finance applications
  • General bookkeeping, VAT, and payroll duties
  • Tax planning
  • Management accounts
  • Annual accounts and (where necessary) annual audit

If you want to run your business as a private limited company you should know that the company is legally separate from the people who run it and has separate finances from your personal ones. Also, you can keep any profits it makes after paying tax.

To set up a private limited company you need to register with Companies House. This is known as ‘incorporation’.

You’ll need:

  • a suitable company name
  • an address for the company
  • at least one director
  • details of the company’s shares – you need at least one shareholder
  • to check what your SIC code is – this identifies what your company does

You’ll also need:

shareholders to agree to create the company and the written rules (known as ‘memorandum and articles of association’)

details of people with significant control (PSC) over your company, for example anyone with more than 25% shares or voting rights

Once you have these details, you can register your company.

Our accountants will inform you what procedures need to be in place, and what the law requirements are that you need to follow. There are many advantages and disadvantages and we can help guide you on your personal requirements, so you can concentrate on building a healthy revenue stream.

Mortgages

Information will be available soon.