All businesses, whether they are companies, partnerships or sole traders, must prepare annual accounts that show a “true and fair” view of trading activity.
Company accounts must comply with the Companies Act, and sole trader and partnership accounts will be used as the basis for completion of tax returns.
We can prepare accounts for any types of business, ensuring that you are compliant, thereby minimising the chances of an HMRC enquiry, and also that your accounts are presented in a way that supports your decision-making and any possible investment opportunities.
We offer a full audit service to both companies and charities. The requirement for companies to be audited is currently under review, and we can advise as to the present regulations. We also carry out specialist reporting for solicitors and FSAs.
Bookkeeping can be one of the most difficult areas for a small business. If you do not have access to reliable, timely information, it is difficult to make appropriate decisions, and may lead directly to cash flow problems – the major source of problems for most businesses.
We can take on the burden of bookkeeping for you, leaving you free to focus on your core business whilst ensuring that accurate financial information is always available to you.
We can set up a company for you, and ensure that all of the relevant and Companies Act compliancy resolutions and forms are in place. In addition, we can advise on the most tax efficient share ownership structure.
Setting up your company is naturally one of the most important phases in its life-cycle. It is all too easy to make mistakes in the incorporation process that could cause problems at a later date. We can ensure that you have the best advice from the start.
We can offer Registered Office facilities including maintaining statutory registers. We are able to offer a full service in preparing and submitting statutory forms including annual returns, and the appointment and resignation of directors. We can also prepare board minutes and share transfer forms.
Again, we can free you of these regulatory burdens, allowing you to get on with your business, whilst ensuring that your company matters are up-to-date and compliant.
We can prepare your company corporation tax return and submit it to HMRC in iXBRL format. This includes preparing the computations, ensuring the relevant reliefs are claimed on your behalf and advising you of the filing and payment deadlines.
If you extract profits from your company by means of dividends, it is essential that you ensure that there are adequate distributable reserves available and that you prepare the correct paperwork prior to withdrawing the funds. We can assist you with management accounts to provide accurate information and prepare the board minutes and dividend vouchers required.
We are happy to work with your independent financial advisor to ensure that you make the best decisions. We can attend joint meetings if required. If you need the details of local advisors, we can supply these.
All businesses, whether new or well established, need to have a focus and a sense of direction. It is sometimes difficult for business owners to “stand back” from their company and appreciate the bigger picture.
That is where a trusted third party can be invaluable and this is possibly the most important service that we can offer. We are a long established local practice, with a pool of experienced accountants and advisors, and a significant network of business contacts.
Many of our clients view us not just as their accountants but also as their general business advisor. If you would like to explore whether a relationship of this kind could help your business, please contact us today for a detailed, confidential and without-obligation discussion.
There are many legitimate ways in which you can minimise the amount of inheritance tax that you pay. We can suggest efficient and sensible succession planning strategies for individuals and business owners.
There are many factors to consider in deciding how you stand with regard to the notorious IR35 legislation on contractors and sub-contractors. We can give guidance on your circumstances to ensure that you avoid being caught out. A major part of this is making practical suggestions on the contents of contracts and arrangements.
An LLP is a form of legal business entity that gives the benefits of limited liability, similar to those enjoyed by a limited company, but allows its members the flexibility of organising their internal structure as a traditional partnership. We can assist in setting up an LLP.
We can provide monthly or quarterly management accounts to help you make the right decisions in your business. As well as for these internal purposes, we can prepare reports for external presentation, including for banks and potential investors.
We offer an in-house service, using the latest software, which can handle all of your payroll and pension auto enrolment requirements, and ensure that all the key deadlines are met. These include completion of FPS and EPS submissions under the RTI reporting requirements and production of P60s and P45s.
We have dedicated tax staff who are able to provide a full range of services for individuals, including the preparation and submission of self-assessment tax returns, tax computations and corresponding with HMRC. They can also assist you in the event of a tax investigation.
We can advise on property transactions and the taxes that need to be considered in connection with these. We can provide information on rental income and the expenses to be claimed. We can advise on Capital Gains tax and the reliefs available, such as principal private residence relief. We can also provide advice on furnished holiday lettings.
If you are an existing user of Sage software for your internal accounting needs and you would appreciate a review to see if you can make better use of its facilities, then please contact us and we will arrange for a one-to-one refresher coaching session.
If you are considering using Sage, and would like to see how it works, or if you have recently bought it and would appreciate more detailed guidance on how to maximise its usefulness to you, then please contact us for assistance.
We are members of Sage Accountants Club which gives us access to discounts on both software and support purchases. We are able to pass these savings directly on to you, our customers, to ensure that you always get the best deal.
Starting a business can be a stressful time, and there is a lot that you need to be aware of – and to comply with – in a short space of time.
We would urge all new businesses, whether sole traders or corporate structures, to take advantage of our free initial no-obligation consultation. It is important to ensure that you get the best advice at the outset to allow you to start your business venture on the right foundations and in the right direction. We can advise on the basics – whom you need to notify and when, in order to avoid penalties – as well as providing a trusted sounding-board for your more strategic dilemmas, debates and decisions.
If you are unlucky enough to be selected for an HMRC investigation or enquiry, we can ensure that you get the best possible advice and support throughout the process – from preparation to successful conclusion.
Tax is a complex issue, and there are many different ways of arranging your tax affairs in order to minimise your overall or long-term tax liability. These may include looking at profit extraction, exit strategies, Capital Gains tax and Inheritance tax issues. Both individuals and businesses can benefit from making the right decisions at the right time.
We may be able to save you a significant amount of tax. With experts in all the relevant areas, we are ideally placed to provide the sound advice that you need.
VAT is more complex than it used to be – with aspects such as the flat rate scheme for businesses to consider. We are able to advise on all VAT matters, including the completion of returns and subsequent electronic submission, and assistance with registration and de-registration. We can also advise on the schemes available including cash accounting and the aforementioned flat rate scheme.
If you feel you could benefit from using this cloud based accounting software, we can facilitate this for you. Xero can really help you run your business more effectively by providing timely information, particularly with its daily bank feed.
As a certified Xero Partner, we can assist you with everything from set up and conversion to ongoing assistance. You can sign up for a free demonstration at www.xero.com/accounting-software or please contact us and we will be pleased to discuss the benefits of Xero with you and to decide whether it is suitable for your specific needs.