With constant changes in the business world and tax rules are becoming more complex, our task is to look after you and your business. We offer proactive and traditional services in all aspects of accounting and taxation.
The last thing you want in your business is to have valuable time and resources tied up with routine bookkeeping and accounting.
That’s something we can do for you, either at your office or at ours.
We begin by discussing your specific requirements with you and then we set up appropriate accounting procedures and controls and ensure your accounts are kept fully up-to-date and in compliance with statutory regulations. With the instruction of quarterly reporting under “Making Tax Digital” for the self-employed, we will guide you through the complexities of the rules applicable to your business.
But we don’t stop there. We can also provide you with regular management accounts to keep you informed on essential areas such as:
• Cash flow
• Performance ratios
• Customer activity
• Credit control
• Budget comparisons
In addition, we can also relieve your staff of the burden of:
• Payroll administration
• VAT returns
• Bank reconciliations
• Annual accounts
It is often said that “Failing to plan is planning to fail.”
Everyone knows that a successful business must plan ahead, but all too often the pressures of keeping the business going on a daily basis mean that strategic planning is not given the attention it needs. The result is often rushed judgments, over or under-capacity, or missed opportunities.
This is why we encourage our clients to schedule regular planning sessions. We can help you:
• Formulate and implement long-term strategic goals
• Set concrete operational objectives
• Monitor performance and adjust plans accordingly
With years of experience advising the local business community, we have a wealth of experience and expertise for you to draw on.
Most people who start up in business do so because they have a good business proposition and the enterprise and commitment to see it through, not because they are experts in the legal, financial, and fiscal aspects of running a business.
Indeed, these matters can often seem daunting, and even off-putting, to the budding entrepreneur. The good news is that you do not need to be an expert in these fields to succeed in business. All you need is the support of a team of trained experts.
That’s where we fit in. Bring us your business ideas and we’ll help you to evaluate them in a constructive and realistic manner.
We can also help you:
• Decide on the most suitable structure for your business – sole trader, partnership, or limited company
• Prepare a business plan, cash flow projections, budgets, and trading forecasts
• Assess your finance requirements, advise on the best sources of finance, and draw up the necessary proposals
• Establish a good working relationship with your bank
• Complete any registration procedures with Companies House, and HMRC
• Deal with company secretarial issues
• Set up a recording system for your internal use and for complying with statutory requirements
The last thing you need as a busy business owner is to use up valuable time and resources making sure you are complying with the Companies Act.
Moreover, with company legislation changing at the rate it does, you need to be sure you are fully aware of how the changes affect you and your fellow directors.
We can give you complete peace of mind in this area by carrying out your company secretarial duties for you. Our services include:
• Company formations
• Preparation and filing of statutory returns
• Preparation of all documentation related to minutes and resolutions
• Maintenance of statutory books
Though business owners traditionally regard the annual preparation of statutory accounts as a cost centre – a necessary evil that adds no value to the business – we strive to transform it into a profit centre.
Besides helping you meet the statutory requirements, we also take the opportunity to conduct a review of your financial and management systems. This can often result in our identifying potential problem areas and recommend opportunities to improve your business performance. We discuss the problems and opportunities with you and help you implement any agreed solutions.
We see the preparation of your annual report as an opportunity to enhance your external image. A well-prepared report can have a considerable positive impact on the perceptions of investors, potential finance sources, customers, prospects, referral sources, and even your own staff – all of which greatly improves your business prospects for the future.
Along with the requirement to file annual accounts, there is also the need to complete and file Corporation Tax Returns for Companies and Personal Self Assessment Returns for sole traders and Partnerships. These Returns are completed as part of the overall package included with Accounts preparation.
Administering your payroll can be time-consuming and burdensome, diverting energy and resources from the core activities of your business. And the task is made all the more difficult by the growing complexity of taxation and employment legislation and the accompanying regime of penalties for non-compliance.
We have dedicated staff who can relieve you of this burden by providing a comprehensive and confidential payroll service, including:
• Customised payslips
• Administration of PAYE, national insurance, statutory sick pay, statutory maternity pay, etc
• Completion of statutory forms, including year- end returns, to issue to your employees and submit to HMRC
• Summaries and analyses of staff costs
• Administration of incentive schemes, bonuses, and ex gratia and termination payments
Even if you have only a few employees, you will make savings by engaging us to administer your payroll. Our software is fully compliant with all current legislation, including Real Time Information.
Value added tax is one of the most complex and onerous tax regimes imposed on business – so complex that many businesses inadvertently overpay or underpay VAT.
The ever widening scope of VAT, the constant stream of detailed changes to the regulations, and the ever growing demands of HMRC call for a trained professional eye to ensure that you do not fall foul of the regulations and do not pay the Exchequer more than you need to!
We provide an efficient cost effective VAT service, which includes:
• Assistance with VAT registration
• Advice on VAT planning and administration
• Use of the most appropriate scheme
• VAT control and reconciliation
• Help with completing VAT returns
Do you feel isolated and in need of someone else to bounce ideas around? Should you expand or add something extra to your business? I provide consultancy in the form of a non-executive Director to your business and help you with these strategic decisions. The service can be anything between one hour and a complete day. Contact me for further details.