It’s mandatory for the self-employed to file tax returns and for Limited Companies to file corporation tax returns and statutory accounts. Using an accountant removes the burden and ensures that they are submitted in the right format at the right time.
We prepare accounts for sole traders, partnerships and Limited Companies across a wide variety of trades. The knowledge and experience of our staff allows us to mitigate tax where possible.
We also prepare self-assessment tax returns for those with rental properties, investment & dividend income, high earners and capital disposals.
We offer a range of additional services including bookkeeping, VAT returns, payroll and software support. Our flexible approach means that clients can opt in and out as their needs change.
Payroll has become more complicated in recent years with the advent of Pensions Auto Enrolment. This has not only made it more time consuming but requires more technical knowledge. We offer a comprehensive payroll service giving you time to concentrate on running your business.
VAT Returns: VAT is a very complex area of tax, increasing the probability of errors. In addition, HMRC are introducing Making Tax Digital which will initially require all VAT registered businesses trading over the VAT threshold to submit their VAT returns using compliant software.
Software Support: With Making Tax Digital looming it will be necessary to keep business records in a digital format. This will mean more and more businesses will use software to record and submit information. We will be able to provide support on a variety of products to not only enable you to be compliant but to benefit from the efficiencies and additional information software can provide.
If you are thinking of starting a business then the correct advice from the outset can be invaluable to the success of the business.
We can review your business plans and prepare profit and loss statements and cashflow forecasts. This will highlight any requirement for finance.
We will be able to advise on the most appropriate structure whether that be sole-trader, partnership or Limited Company and assist in registering and setting up with the relevant authorities.
Consultancy & Other Services
With the emphasis being on the taxpayer to check their tax position, but various matters making it far from easy to understand, we are often involved in checking tax codes, claiming tax refunds and transferring allowances. Common areas that cause issues are company car tax and pension tax. We also advise on Capital Gains Tax matters and reliefs and in particular on the disposal of rental properties.
We also provide management consultancy in the form of advice on improving profitability, quite often through the use of management accounts and budgets.
When operating a business or filing a tax return HMRC can open a tax investigation. Not only can this be a stressful experience but the time involved can be considerable. We are able to deal with HMRC investigations on your behalf and offer an optional protection scheme whereby our time and fees are covered for a small annual premium.