Helping you with the essentials
Annual financial statements
Every business is required to produce annual accounts. This gives owners a full picture of the strength of their business, and, at the same time, fulfils statutory regulations. Our year end service covers:
Sole traders and partnerships
By compiling year end accounts we are able to compare and analyse year-on-year figures. Margins and variations can be discussed with the owners, identifying possible tax planning opportunities and any areas of concern that need to be addressed.
Limited companies have a requirement to submit yearly accounts. In addition, for small and medium sized companies, abbreviated accounts can be prepared and filed at Companies House. We can also calculate Corporation tax and prepare the necessary forms for submission.
Most people who want to start a business have a solid business plan, but do not necessarily have the in-depth knowledge of up-to-date tax laws, tax efficiency, book keeping skills etc.
This is where we can help. By using us as an extension of your company, you can utilise our expertise and start your business on a sure footing. We can advise on the most suitable structure for your business - sole trader, partnership or limited company, and complete any registration processes with Companies House and Revenue and Customs
You want to make the most of your valuable time, and not have it tied-up by routine book keeping and accounting calculations. We can do this for you, either at your office or at ours. We begin by discussing your specific requirements, and then tailoring a package to suit your particular needs.
Buying and selling a business
This is a complex legal area in which many pitfalls have to be avoided. We can offer practical advice based upon our own experiences of buying and selling businesses for our clients. We can provide early, detailed advice to guide you through the transaction, from start to finish. We can provide all the financial information that a lender may require, whether they are a bank or private investor.
Financial analysis and forecasts
Budgets, forecasts and cashflow forecasting are essential tools in running a business. They can be used to attract investors to your company, or be used to help raise capital from banks. We can prepare the required accounts on your behalf, and provide further detailed analysis on the areas required.
Management accountancy is often a neglected part of business. When your company reaches a certain size, more regular information than just annual historic accounts are required. We can provide these on a monthly/quarterly/half yearly basis.
We can relieve you of the burden of payroll administration (PAYE & NI), ensuring your staff are paid accurately, and on time. Annual governmental changes are updated automatically, such as changes to maternity and paternity pay etc. Additionally, P45, P60, and other forms can be raised and issued when required.
Self assessment can be a daunting experience; a constant flow of changes to tax legislation means that more and more individuals or companies do not complete their forms correctly, and therefore either underpay and face penalties for late submissions, or pay too much!
We can help with this aspect of your business, helping to ensure that forms are submitted on time, accurately, and at the same time in the most tax efficent manner. We will deal directly with the Revenue and Customs, and, if you are selected for further analysis, act on your behalf at any meetings.
VAT is one of the most complex and continually changing tax a company or sole trader has to deal with. Paying too little or indeed too much can have a negative effect on any company! We can guide you through the potential hazards, and apply the latest legislation to ensure your VAT is both compliant yet efficient.
- VAT registration assistance
- Help with completing VAT returns
- Negotiating with Customs and Excise in any disputes
- Representing you at VAT tribunals