Accountancy and Tax Services

Annual Accounts

Every business must submit their accounts to HMRC and Companies House every year. We will assist your business by producing your annual accounts in a cost effective and timely manner, help you meet the deadlines and avoid any penalties.

We assist with producing the following:

income statement
balance sheet
profit and loss statement
cash flow statement

Management Accounts

Management accounting is an essential part of running any business because they present its financial trading position. Important decisions can be made using the information compiled from the balance sheet and cash flow reports.

We can assist your business by creating monthly or quarterly accounts, help you make informed decisions, measure performance compared to budget, and control cash flow. Most importantly we aim to help you reduce costs.

Further, we help to produce in house systems so that you may collate your own data. Our team will train you to get the most out of your information.

Limited Company Accounts

Running a successful limited company is a significant responsibility. Apart from management processes, there is a greater level of accounts keeping required than for any other business type. Limited companies are required to file accounts that comply with HMRC and Companies House requirements, while following all the applicable accounting standards.

We will ensure that your accounts meet these requirements by providing efficient accountancy services that help your business run its accounting smoothly, maximise profits and continue to grow.

Limited Liability Partnership Accounts

A limited liability partnership must keep accurate records of income and expenses and submit the accounts to HMRC every year.

We can assist with this submission process by completing your returns and submitting them online in a timely manner while you focus your time and energy on running your business.

VAT Returns
Making Tax Digital

Any business with a turnover of more than the current VAT registration threshold must register for VAT.

We can assist with calculating:

your total sales and purchases
the amount of VAT you owe
the amount of VAT you can reclaim
what your VAT refund from HMRC is, if any
support so that you can keep your own VAT Records correct
making tax digital (MTD) compliance

Tax Returns

Our tax return service is available for individuals (sole traders), partnerships and limited companies. Self-assessment comes with lots of penalties which can be avoided if care is taken to ensure your returns are accurate, submitted on time and have backup records for a set period.

We are here to help and assist with your self-assessment returns. Our team can calculate your taxable income and let you know if you need to pay any tax or if you are entitled to a tax refund.

We aim to save you precious time and expense by going through your finances and pointing out where and how you can mitigate your tax liabilities.

Corporation Tax

It is mandatory for all companies to file a corporation tax return to HMRC each year to work out how much is owed.

We will work with your business to keep you up to date about the latest corporate tax regulations and answer all the common (and not so common) questions.

We can assist with:

the preparation of your corporation tax computations and tax returns and ensuring that they are submitted to HMRC on time
a review of your business to ensure that all reliefs are maximised to minimise your corporate tax liabilities
advice on the most tax efficient methods of profit and cash extraction from your company
corporation tax advice regarding reorganisations and changes to your business
advice on how to keep your tax costs to a minimum

Pay As You Earn (PAYE)

PAYE (payroll) can be a time-consuming task for any business. Processing a high volume of data accurately and on time for each employee can be a struggle too. It can be equally challenging to comply with HMRC’s ever-changing rules and regulations.

We can help with:

compliance with legislation relating to auto enrolment including processing pension assessments, contributions, and payments to pension providers
calculating your PAYE, RTI, NI, statutory sick pay, statutory maternity pay, etc
analyses and summaries of staff costs and deductions
administration of pension scheme deductions
processing of bonuses, termination payments and ex-gratia payments
advising on and dealing with any benefits in kind
preparation of customised payslips
preparation of all statutory forms, including end of year returns to be filed with HMRC and forms for your employees

Charity Commission Accounts

Every charity must keep accounting records and prepare annual accounts and a trustee report, even those not registered with the Charity Commission. This includes cash books, receipts, records of grants, etc.

We provide charity organisations with accountancy, tax advice and keep them fully updated with changes in non-profit accounting, tax and VAT.

Our team can assist with:

producing the annual accounts
compiling the trustees report
accounts auditing

Community Interest Company Accounts

Community interest companies (CICs) are limited companies, with special additional features, created for the use of people who want to conduct a business or other activity for the benefit of the community, and not for private advantage.

This is achieved by a "community interest test" and "asset lock", which ensure that the CIC is established for community purposes to which the assets and profits are dedicated.

A CIC must submit statutory accounts every year.

We can assist with your accounting and tax requirements and ensure your accounts are submitted on time and meet the requirements of HMRC and Companies House.

Construction Industry Scheme (CIS)

Under the Construction Industry Scheme (CIS), contractors deduct money from a subcontractor’s payments and pass these onto HMRC.

These deductions count as advance payments towards the subcontractor’s tax and National Insurance.

The scheme can be a complicated process and HMRC will serve penalties if returns are not submitted correctly or on time.

We can assist with:

registering your scheme
validating contractors with HMRC
filing CIS returns
reclaiming CIS suffered

Bookkeeping

We provide bookkeeping services that can be tailored to suit your business.

We can assist with the following:

implementing bookkeeping software
providing specific training to you and your staff
processing and keeping your records up to date on a basis that is suitable to you
providing ad hoc, holiday and staff sickness cover, for when you need it most
preparing regular management account reports based on the bookkeeping information
preparing and submitting VAT returns direct to HMRC
ensuring compliance is adhered to in every aspect

Capital Gains Tax

Capital gains tax (CGT) becomes payable when you sell an asset, a property or make money from sales. The amount you pay in tax depends on the value of the asset sold and your income.

When it comes to CGT returns, you will require assistance from the people with knowledge and experience. Our expertise will help with any transactions that have CGT implications.

We examine your business transactions and financial records so that you avoid any tax surprises when you sell your assets. Also, we calculate the CGT that you must pay on disposal while advising you on the reliefs and exemptions.

You must report and pay the CGT tax within 30 days of sale. You may have to pay interest and a penalty if you do not report the gains on the property within that time limit.

Company Formation

Company formation is the process of incorporating (registering) a business as a limited company. Once a business becomes incorporated, by law it is a distinct legal entity and is completely separate from its owners in terms of finances, liabilities, contractual agreements, and ownership of property and assets.

All UK limited companies, limited liability partnerships, and overseas companies with a place of business in the UK, are legally required to register with Companies House.

We are an approved company formation agent and can assist you with your application by ensuring that the company formation application is completed correctly. We will utilise our knowledge of the application process to help you create your limited company and help you save valuable time and hassle.

To register a private company limited you will require:

preferred company name
nature business
registered office address
business address
director(s) details
shareholder(s) details