As a thriving accountancy practice, we pride ourselves in delivering a comprehensive range of services, many of which are fields where we are particularly proficient. The disciplines listed below will hopefully give a brief insight into what we can offer however this is by no means an exhaustive list as we are continually growing our knowledge base.
Our approach is one that is reflective of our personalities; to provide a personal service therefore we encourage you to contact us so that we can tailor our services to your individual requirements however by all means feel free to read through a glimpse of a sample of our services below
1: Bookkeeping & Accounting
Preparing and submitting accurate accounts is one of the most important documents for a limited company. These documents will be used by many stakeholders including banks, tax authorities, as well being available for public inspection on Companies House. At the same time it also a highly effective way of really understanding how your business is performing.
All companies will be subject to financial strain at some point during their life however it is important to invest in a professional accountant from the start; not only will it take away the burden of bookkeeping and other tasks that you may not be familiar with but it will help you concentrate on the most important thing which is your business! Our all inclusive bookkeeping and accounting package offers you a simple & cost effective package where we take the stress out of preparing year end accounts.
2: Business Start Up
Starting a new business can seem like a leap into the unknown. You have had an idea, put together a business plan, seen the bank manager and opened an account. Now the fun begins. But with all the challenges you face, wouldn’t it be nice not to have to worry about the associated accounting and tax responsibilities as well?
Unlike other accountants we are not simply interested in just getting paid. Our number one priority is ensuring that you are given as much support as required, whether that involves reviewing a business plan, helping set up your business bank account or simply ensuring that you and your business is compliant with accounting and tax regulations. Because we ourselves are a small business we understand you have a lot on your plate, we will remind you in plenty of time when you need to send us something or when you might have a tax liability due. With regular meetings, you can ask us all those nagging questions – from what expenses to claim, to when to think about VAT and how to pay yourself. There is no question too small!
In addition to our annual accounts and tax return services, we also offer the following range of tailored solutions to help support your growing business:
- Budgeting & forecasts
- Management accounting
- Bookkeeping & training
- Access to our own cloud based accounting software
- HMRC correspondence including VAT registration and other specific license applications
3: HR & Payroll
Administering your business payroll can be time consuming and burdensome, diverting energy and resources from the core activities of your business. The task is made all the more difficult by the growing complexity of taxation and employment legislation and the accompanying regime of penalties for non-compliance.
Our dedicated team of specialists can handle your entire payroll function or certain elements of it, whether you have one employee or several hundred. Our method of service delivery ensures continuity, confidentiality and flexibility giving you the freedom to concentrate on running your business.
We aim to tailor our services to suit your business needs and we are able to accommodate all frequency of payrolls – weekly, fortnightly, lunar, monthly, quarterly, bi-annual or annual. We use your information to ensure all records are updated regularly, tailored management reports are supplied and HMRC is kept informed in line with all current legislation.
Even if you only have a few employees by outsourcing your payroll to us you will benefit as it will:
- ensure your business remains compliant with current payroll legislation
- free up your time to focus on the development of your business
- replace your need for a specialist
- minimise your IT investment
- receive professional support for all payroll related matters
- have greater control over your payroll costs
4: Self Assessments & Sole Trader
Self assessments can be a worry to many people but we can take away the burden of completing your return and calculating your tax liability, or refund. Dealing with HMRC is becoming increasingly difficult and at times painful; we can take away the stress & liaise directly with HMRC on your behalf to make the entire process much more simple.
Tax returns need to be submitted to HMRC by 31 October following the tax year. unless they are filed electronically, when the deadline is extended to 31 January of the following year. We deal with all types of tax returns including company directors, self-employed, landlords, non-residents, non-domicilaries& pensioners. We give you the peace of mind that your personal tax affairs are looked after properly and efficiently and we endeavor to identify any tax saving opportunities that could include:
- Tax efficient allocation of capital and income between spouses
- Ensuring maximum expenses are claimed against business profits
- Maximising loss claims
- Income tax efficient investments
- Maximising capital allowances
- Maximising personal allowances
- Gift reliefs
- EIS and VCT relief
5: Tax Rebates & Incentives
In the UK at the time of writing it is a highly favorable environment for businesses looking to raise capital as well as for incentives for those who invest in them. Your business may well qualify for help with rates or for tax relief if it meets the desired criteria. A short summary of the different reliefs available are listed below but please get in touch today so that we can see if your business meets the criteria.
- Business rate reliefs – some properties may well be eligible for discounts on their business rates
- Enterprise Investment Scheme (EIS)/Seed Enterprise Investment Scheme (SEIS) – this is a scheme that allows investors a more tax efficient way to invest in small and early stage companies whilst at the same time reducing the risk of their investment
- Employment Allowance – small businesses can reduce the amount of National Insurance contributions that they have to pay for their employees
- Annual Investment Allowance/Capital Allowances – a way for small business to offset the cost of new assets used for their business against any taxable profits
- Research & Development Tax Credits – most companies are unaware of this but HMRC offers a 225% tax credit to companies that invest into Research and Development
- Patent Relief – allows companies that have patented products/inventions benefit from a substantially reduced corporation tax rates for sales of these products
- Entrepreneur’s Relief – when an individual decides to sell or close their business they are only required to pay 10% capital gains tax on any profits that arise on the disposal