1. Audit
The law requires a statutory audit where an entity does not qualify for exemptions under the Companies Act or other relevant legislation such as Charities Act 2011
A business may also choose to have an audit even though not required by law, such as in the following circumstances:
- To demonstrate the reliability of its financial information to third parties such as potential investors, financial institutions, suppliers
- To deter any potential fraudster
An audit involves a detailed review and understanding of the company’s business, accounting records, and systems of internal controls. Such a review and understanding can lead to proactive business advice on many matters.
Our firm is authorised by the Institute of Chartered Accountants in England and Wales to carry out audit work. The work will be conducted to the highest standard expected by our Institute and at a competitive price.
2. Business Support
Bookkeeping
Many of our clients prefer our firm to do their bookkeeping for the following reasons:
- It allows them to concentrate with the important job of running and growing their business
- It helps them reduce their year end accountancy costs
- It reduces their worry they may make a mistake
- They require up-to-date and reliable management information
Annual Accounts preparation
Every business, whether its a sole trader, partnership, or a limited company, has to prepare accounts annually. The accounts prepared for the sole traders and partnerships will form the basis for the completion of their self-assessment tax returns. Limited companies must prepare their accounts in a statutory format and have them filed with Companies House, the latest ten months after their year end.
Our aim when we prepare accounts is to ensure they comply with all statutory regulations and identify potential areas where we can assist in minimising your tax liability.
Once we prepare the accounts we will go through them with you so that you understand how well your business is doing, and make recommendations for future improvements.
VAT
We can deal with your VAT affairs, which include completion of the VAT returns on time to ensure avoidance of penalties.
In addition we can assist you on the following:
- Applying for VAT registration
- Advise on the most appropriate VAT scheme for your business
- Attendance at VAT inspections
- Provide training in completion of VAT returns
Payroll
Free yourself to concentrate on running the business, by taking advantage of our payroll service. We will prepare your payroll on time and provide you with employee payslips, monthly or weekly summaries complete all P45’s for leavers, and PAYE returns for the Inland Revenue.
In addition we will complete your end of year PAYE returns which include P35, P60’s, & P11D’s .As there is a deadline for their submission we will be done on good on time so that you avoid any penalties.
3. TAXATION
Company Taxation
Companies are liable to corporation tax and corporation tax returns have to be submitted to HMRC on time otherwise there are automatic penalties.
We can prepare the company’s tax computations, complete the corporation tax return, and calculate the corporation tax liability and advise you accordingly how much tax you have to pay and when. We can also provide advise as to the most tax efficient way of extracting profits from a manager /owner company.
Personal
If you are a self-employed person, the Director of a limited company, or you have received income, which has not already been taxed, you will need to complete a self-assessment tax return.
If a return is not submitted on time or is incorrectly completed, then you may incur a penalty.
So why not save yourself the worry and risk of penalties by allowing us to complete it on your behalf? As well as completing your return we will advise you on the amount of tax you have to pay and when.
We will also correspond on your behalf with the revenue taking the worry away from you.
Tax Planning
Effective tax planning, based on professional advice and tailored specifically to your circumstances is vital whether you are an individual or a business.
We can advise you on all allowances and deductions you are legally entitled to claim, hence minimising your tax bill. Tax planning advice is completely legal and a wise move if you wish to save yourself and your business money.
Tax Investigations
We can deal on your behalf with all types of tax investigations whether personal or corporate.
4. COMPANY FORMATIONS AND SECRETARIAL SERVICES
We can form the company for you whether is an off the shelf company, a tailor made company, a Limited Liability Partnership, or a Public Limited Company (PLC).
In addition we can offer the following secretarial services:
- Registered office address
- Maintenance of statutory registers
- Completion and submission of annual returns
- Preparation of share certificates
- Completion of share transfer forms
- Submission of statutory documents
5. BUSINESS START UP SERVICES
Before you start a new business you need to plan very carefully so that you maximise your chances of success.
By consulting us as soon as you decide to set up a new business we can provide you with the following services:
- Business structures; should you be a sole trader, partnership, limited company, or a limited liability partnership? We can advise you which is best for you.
- Raising finance and business plans; identifying your funding needs, and preparing a business plan and a cash flow forecast is vital in the survival of the business.
- Tax planning; we will advise you on the areas of tax most relevant to your business.
- Accounting systems and bookkeeping; advise and assist on the implementation of the accounting systems and bookkeeping.