Business Start Up
When you have a great idea to start a business you need to consider how best to structure the new venture to protect the business and be tax efficient. We will work with you to review the options and help you to make the best decision. This is the start of our partnership with you to take your business forward so that you achieve not only your business goals but personal ambitions.
We offer a tailored bookkeeping service to meet your needs and this can consist of the traditional service where you provide us with the information to process on your behalf either in our offices or we can work on a cloud based solution to suite your needs. This means that we can work with you on the accounts remotely whilst you carry on doing what you need to on the accounts. Our aim is to cause the least disruption whilst offering the management information your need.
We can prepare your annual accounts to meet your obligations under the Companies Act if you are a limited company or suitable for preparing your tax return for a sole trader or partnership.
If you’re VAT registered, you need to submit regular returns to HMRC and pay them any VAT that’s due. There are strict deadlines that have to be met in order to avoid penalties.
Linked with our monthly Bookkeeping services, we can organise your returns on time and advise you of the amount to pay. We conduct monthly VAT Reconciliation to ensure that your VAT records comply with HMRC requirements, giving you peace of mind in the knowledge that you’re paying the right amount of tax, thereby avoiding penalty fines.
Our Bookkeeping service can provide monthly or quarterly Management Accounts, giving accurate and meaningful figures that enable you to make informed management decisions. In the current economic climate it is essential to have the right information and the best team to explain the figures and act as a sounding board for those key business decisions.
Corporation Tax Returns
All Limited Companies are liable to pay Corporation Tax and have to submit a return annually to HMRC.
We automatically include this in our basic service solution to take the burden away from you.
We will deal with all issues pertaining to Corporation Tax, including working with approved specialists for special cases of Tax Relief. For example:
- Research and Development Relief is granted for projects that seek to achieve advancement in overall knowledge or capability in a field of science or technology.
- The Patent Box allows a lower rate of Corporation Tax on profits gained from patented inventions.
- Creative Industries Tax Relief is granted if your company makes a profit from theatre, film, television, or video games.
The Companies Act places strict obligations on companies to submit the required documents according to deadlines. We can provide peace of mind, by taking the hard work off your hands.
Our Company Secretarial services include:
- Preparation and filing of statutory returns
- Preparation of minutes and resolutions
- Company formation
- Company searches
We run a comprehensive Payroll service, processing your timesheets or salaries, and producing payslips which we can email directly to your employees or to you as a PDF file. We also email you an employer’s summary of each payroll run, as well as a monthly or quarterly payslip to pay HMRC. All you have to do is make the payments to your employees and HMRC.
For the smaller employer, our charges can be less than buying a commercial payroll software package. With the introduction of auto-enrolment pension schemes and all the documentation that goes with them, our service is very cost effective and removes one more headache from running your own business.
For larger employers, who do not have their own HR Department, we can provide this service through one of our associates, maintaining all the systems to make it work. So don’t struggle on and get caught with unfair dismissal or constructive dismissal claims; get us and our associate to be your complete Payroll and HR Department.
If you are Self-Employed, in Partnership, a Company Director, or have multiple sources of income, you will be required to complete a Self-Assessment Return each year and to submit this to HMRC.
There are strict deadlines for registering for Self-Assessment, and harsh penalties for being late. If you use our Accounts service, we automatically deal with your Tax Returns, so you needn’t worry. We also provide Self-Assessment Returns as a standalone service.
Wherever possible, we will identify claims and reliefs that can be included on your tax return, at all times making you aware of your legal obligations, deadlines and potential penalties.
Our fixed price Tax Return service is fully inclusive of unlimited access to our team for advice on ad-hoc tax matters via telephone, email and face-to-face meetings. This means that you can call on us at any time, knowing that you will not be charged for our time or advice. Any additional work that may be required will be agreed in advance with a fixed fee.
The above is a small list of the common types of work that we do for clients but either we or our partners can offer a wide range of solutions for you and your business so the best answer is to contact us to see how we can help you achieve your goals.