Our range of essential or compliance services aims to take away the hassle of accounting and company administration so you can get on with running your business. What exactly do we mean by ‘compliance’? It’s things like making sure your accounts, tax and VAT returns are prepared and submitted in good time; that your statutory books and other company secretarial records are kept up-to-date and submitted on time.
We process your files promptly after your year end, and present them in a graphic format as well as conventionally. All too often the financial statements prepared for a client by it’s accountant do not provide the business owners with a clear understanding of the key financial indicators and drivers for their business.
We believe it is imperative that businesses be provided by their accountant with financial statements that provide an insight into the business affairs, forming a starting point from which to provide advice on improving business growth, cash flow and profitability.
Running a payroll can be time consuming and complicated and divert resources from the core activities of your business. We can address this by providing a complete service, whatever the size or complexity of your business, or simply provide support when needed. Apart from being cost-effective, outsourcing this activity also helps relieve the pressure on you and your staff. But the main benefit is enabling you, as the business owner, to concentrate your efforts on key tasks and responsibilities – core to the success of your business.
Since April 2012, all UK employers are legally obliged to automatically enrol all eligible workers into a qualifying pension scheme by a specific deadline (“staging date”). Where this applies, employers must by law create and maintain: detailed records of correspondence with workers, work force assessments, joiners and leavers, and pension payments. This is one of the most onerous challenges to face the UK business world in recent years, and the financial penalties for breach can be severe.
If you are an employer, it is absolutely crucial that you are aware of your obligations under the auto enrolment regulations.
More extensive details are available in our blog posting of 2 July 2015.
We can help you with your general bookkeeping, we will set you up as a “KashFlow” user, train you in how to use this online bookkeeping software and to get the maximum return from an investment of just £10 (plus VAT) per month. Because your records will be in a secure, online portal, we will be able to collaborate with you on your up to date financial information. Whatever your needs we’ll make sure you get the level of service you need. And when the time comes to employ your own bookkeeping staff, we’ll help you find the right person.
Under Corporation Tax Self Assessment (CTSA), the legal responsibility for correctly calculating the corporation tax liability falls on business owners. If that’s not a process you enjoy, then we’ll happily undertake it on your behalf. We’ll calculate your company’s tax liability and any quarterly instalment payments. Harsher penalties for non-compliance mean that timely and effective corporate tax planning is essential these days. Our involvement can also result in significant improvements in your bottom line. Naturally, everything is iXBRL compliant.
We have the expertise and software to take the headache out of the form filling and compliance aspect of Self Assessment. We can provide you with practical advice on personal tax positions and the planning opportunities available to you. We can complete your tax returns, calculate any tax liability and advise you on exactly when to make payments and how much to pay.
Ever-changing regulations and the growing demands of HM Revenue & Customs mean VAT compliance can be a difficult administrative process for the unwary business person. We can help you comply with the regulations and ensure that overpayments are not made. To help you manage this complex area, 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;
- planning to minimise future problems with HM Revenue & Customs; and negotiating with HM Revenue & Customs in disputes and representing you at VAT tribunals if necessary
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 all 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
- General advice on company law