header
header header
header

 

 

Services

 

 

 

Client business sectors – our current clients include those in
Manufacturing, automotive servicing, farming, marketing, franchising, mortgage advisers, builders and trades people, music industry, professional sports, theatrical and entertainment, property businesses, traders, retailers
 

We offer the following services to our clients

• Financial accounts
Bookkeeping
VAT return
Payroll + CIS
Personal Tax
Corporation Tax
Tax Planning and other tax advice (Capital gains tax, IHT, stamp duty)
Projections, Cashflow & Management accounts
Business Start-up
Company Secretarial & Company Formations

Financial accounts
We prepare annual accounts required for all business types. For limited companies and LLP partnerships we prepare full accounts for the members and abbreviated small company accounts for filing at Companies House, complying with Company Law and UK GAAP (Generally Accepted Accounting Principles). We can online file limited company accounts at Companies House on behalf of clients in the required iXbrl format.

For sole traders and unlimited partnerships we prepare accounts in accordance with UK GAAP which are often required by banks or mortgage lenders, and by HMRC in support of business tax computations.
Back to top

Bookkeeping
We can advise clients on how best to keep their records and then “finish off” the ledgers to produce a trial balance (the basic report needed for preparing accounts) from the records they have kept, or write up all the cash books and other ledgers from receipts, invoices, bank documents and other records, to enable accounts, VAT and other tax returns to be prepared. We usually do all the record keeping where clients ask us to prepare their VAT returns.
Back to top

VAT return
VAT is undoubtedly the most technically complicated area of tax, and the area where (sometimes costly) mistakes are most often made. It also has the most established penalty regime. Most businesses now need to file online, and it will apply to all business soon. We can advise on specific VAT issues, but also for many clients write up all of the books, and fill in the VAT return (filing online) and advising of the amounts our clients need to pay.
Back to top

Payroll
Most of the payroll records can be, or have to be filed online, and HMRC are moving to “real time, online” payroll by 2014. We can prepare the payslips, keep the necessary records, deal with payroll forms and annual returns, and P11d’s. As HMRC increasingly impose fixed penalties regardless of tax loss, the P11d currently carries the highest fixed penalty at £3000. We can also deal with Construction Industry Scheme (CIS) records and reclaims.
Back to top

Personal Tax
We complete, and online file personal tax returns (SA100) for individuals and advise on the correct amount of personal tax to pay. The clients we prepare tax returns for include the directors of companies for whom we act, sole traders and other business owners, but also individuals required to prepare a return because of property and other investment income. With the popularity of Buy to Let mortgages there are an increasing number of these clients we act for. We also produce and online file partnership tax returns, and advise individual partners of their liabilities based on these.
Back to top

Corporation Tax
We prepare and online file the CT600 annual corporation tax return for limited companies, together with computations of the tax liability. HMRC now require all limited companies to file their tax return online, with the tax return, computation, and supporting accounts all being filed using iXbrl tags in html files. (If that seems a bit geeky – it is. For most of us this requires expensive software to produce them in this form)
Back to top

Tax Planning and advice
We can advise on liabilities for Capital Gains Tax(CGT) and Inheritance tax (IHT). We can also advise on appropriate actions to anticipate and minimize these tax charges. CGT is charged at 18% or 28% on disposals of assets (but can be reduced effectively to 10% on gains from disposal of businesses due to Entrepreneurs relief.) IHT is charged at 40% on the whole estate above £325,000, but often be completely avoided with careful planning. We have also advised on overseas tax matters. Where necessary we “buy in” specialist advice from larger firms at preferential rates.
Back to top

Projections, Cashflow & Management accounts
Although it represents a fairly small part of our total work, it is the bit we enjoy most, and are particularly good at. Sometimes a business is fairly obvious and can be “flown by the seat of the pants”. All too often advisors trained in larger businesses encourage small business to use tools and techniques which are unnecessarily complicated. But sometimes it helps to plan, and get regular feedback on how a business is performing against those plans. And it will usually be required by banks in support of loans or overdraft facilities. We can provide simple cash flows, or assist in the preparation of complete business plans, and provide regular information about the business performance where management require it.
Back to top

Business Start-up
When you start out in business there can be so much you don’t know – and what we really love, is that usually we do. We don’t know much about REALLY important stuff which you need to make your business special and successful (although we know a bit, and we know specialists who can help), but we know the boring but necessary stuff about rules like the backs of our hands.

We also just know lots of people who have started businesses, and therefore know a bit about their experiences, which may be new to you, but are familiar stuff for us.

We can advise about registering as self employed, for VAT, Payroll, forming companies or partnerships, how to keep records, and other legislative requirements. Perhaps most impotantly we can give advice on the best business structure for your circumstances – whether to be a sole trader or partnership, an LLP or limited company, or a combination of these. The sooner you ask, the more help we can be. It can be costly to get it wrong. One client who came to us too late was unable to recover £40,000 in tax he would otherwise have been entitled to because he had the wrong business structure – and that cash might have been enough to save the business which closed in its 2nd year.
Back to top

Company Secretarial & Company Formations
Most of our clients have simple needs. Where appropriate for larger clients, we can recommend a company secretarial service. For the rest, we can deal with filing accounts online, the annual return, and simple changes in officers and shareholders on your behalf.

We can also get a new company formed within 2 business days – where that is appropriate for your needs for less than £100.
Back to top

 

 

Testimonials

 

 

 

 

 

"Richard has been dealing with
Specialising in new business start