Accounts preparation- Preparing the annual accounts for sole traders, partnerships and limited companies includes giving a summary of the profit or loss for the year which forms the basis of any tax liabilities for the year.
Our experience in this area will enable us to provide you with valuable information to benefit you and your business and give you peace of mind to know that your financial affairs are in safe hands.
Self-assessment tax returns- By extracting the information from your accounts (as detailed above) and from other income sources we will be able to complete your self-assessment tax return to meet the 31 January deadline each year and use our experience to reduce your tax liabilities as far as legally possible.
Management Accounts- For businesses needing a closer eye on their profitability and cash flow, we can provide monthly, quarterly or half yearly management accounts as required. For limited companies the extraction of profits in a tax efficient manner is extremely important and the preparation of management accounts in conjunction with our regular meetings will help to keep control of these and other areas.
Bookkeeping- We offer advice for those who wish to maintain their own bookkeeping records and can undertake these matters for you on a regular basis if you would rather delegate this work.
VAT Returns- We can complete all tasks from VAT registration to the quarterly VAT returns to VAT de-registration, as necessary. We will also advise you if alternative VAT schemes would be beneficial to your business and will explain how they work in practice.
Payroll (including Construction Industry Scheme)- From weekly to monthly to annual payroll maintenance, we can sort out all the paperwork for you (including providing payslips for your employees) and can advise you of your tax liabilities as they arise. For those businesses who take on subcontractors, we can verify their tax status with the tax office, calculate the correct deductions, provide payment certificates and submit the monthly returns as required.
Company formation - If you are looking to form a limited company following our advice or your own plans then we can organise the formalities and advise you on the most tax advantageous method of extracting funds from your new company.