Services

ACCOUNTING AND BOOKKEEPING

Most operators of a new and growing business have a flair for the environment in which the business operates. They may be a great sales person, an outstanding mechanic ,carpenter, solicitor ,or inventor .Unfortunately , most people don't like to keep the books. As an owner of a business you must remember that your company's books and financial statements represent a score sheet which tells how you are progressing , as well an an early warning system which lets you know when and why the business may be going amiss.
As your business grows , yow will realise the bookkeeping and record maintaining is your low priority and concentrate more on your core competencies in developing the business further.
As Accountants , we provide the Preparation of accounts for all business including Sole traders, Partnerships, Private Limited Companies and charities. Also we provide book keeping services and will be pleased to advise on the development of manual and computerised system.

BUSINESS START UPS

We can offer expert advice and guidance at this crucial time, from helping you to put together a solid business plan and make strategic business decisions, to practical assistance in dealing with compliance issues and liaising with the authorities.

We can help with all aspects of starting a business, including:

·         Deciding on the most suitable structure for your business - sole trader, partnership, or limited company

·         Preparing a business plan, cashflow projections, budgets, and trading forecasts

·         Assess your finance requirements, advise on the best sources of finance, and draw up the necessary proposals      

·         Completing any registration procedures with Companies House and HM Revenue and Customs

·         Dealing with company secretarial issues

·         Contingency planning

·         Setting up a recording system for your internal use and for complying with statutory requirements

MANAGEMENT ACCOUNTS

It has been said, "You would not undertake a long journey without a map or time table". This is also how you should commence the long journey that is your new business. There are many factors that affect the ability of a new business to project their trading not just in the first fledging years, but for many years after. The lifeblood of any business is its ability to collect cash and pay bills as pay its employees, particularly its owners. Far too often small businesses are profitable ,but they do not have enough operating capital to meet their current needs.
Keeping track of your finance is crucial to the well-being of your business because making informed decisions is impossible without up-to-date financial data.
Timely management accounts will be a key resource of the financial information need . We provide monthly or quarterly reviews of your accounts and use key data identified to help you set financial budgets and targets. Monitoring your business performance against these targets helps to identify additional ways to improve your profitability.

CHARITY ACCOUNTING

As part of our charities service, we can ensure your accounts are prepared to a high standard of quality and detail.  We also act as an independent examiner  of charity accounts and offer advice on other areas of running a charity, including Gift Aid, VAT, and dealing  with HMRC.

 

VALUE ADDED TAX (VAT)

VAT  is an Indirect  tax on goods and services supplied by VAT registered businesses in the UK. Vat is chargeable at the 20% standard rate ,but certain goods and services are liable on to 5% reduced rate or 0% zero rate vat. Some goods and services are VAT exempt.
You should consider whether it is necessary to to be VAT registered from the outset. if you intend to make taxable supplies and your turnover is expected to exceed the VAT registration threshold, then by law you have to register for mandatory VAT .
We help clients to register for Vat and file the Vat returns quarterly through VAT-MTD platform (Making Tax digital).

BUSINESS PLANNING

Business planning is essential to any enterprise no matter what size and how long it has been established. Business planning can add a new lease of life to any enterprise by developing short, medium and long term growth strategies.

Investing time in the planning of your business can not only save you money in the long run but also minimise, if not remove, the chance of making rushed and misinformed decisions, and even missing opportunities.

In a changing and demanding environment, businesses must have the ability to react quickly and efficiently to address new challenges as and when they arrive. Should unforeseen circumstances arise in the trading environment, you can take comfort that appropriate plans have been devised, and therefore any decision made in light of a change in circumstance will be made with all objectives in mind.

THE CONSTRUCTION INDUSTRY SCHEME (CIS)

If you are a contractor or subcontractor working in the the construction industry, you will need to consider requirements of the CIS scheme which came in to force from 06 April 2007. Under the scheme, all payments made by contractors to subcontractors must take into account the tax status of the subcontractor and there is likely to be a requirement to deduct tax from some payments before they are made and pay this tax over to HM Revenue & customs. Subcontractors will need to register with HMRC and can apply to be paid without deduction of tax if they meet certain qualifying criteria.
We help clients to register for CIS and advise on the best business structure to operate going forward.

INCOME TAX AND CORPORATION TAX

The taxation legislation is extensive and can be confusing for an individual starting a business. It is how ever ,important to take specific tax advise for your circumstances to ensure you are not suffering more tax than you are legally required to pay, and to ensure you are claiming the appropriate and correct rate of allowance to which you may be entitled.

MONEY SOFT PAYROLL BUREAU

Irrespective of the form of business in which you operate , if you are going to have employees then you will have to contend with Payroll taxes and the PAYE legislation.
We offer registering as a PAYE Employer with HMRC and processing payroll on a Monthly, fortnightly and Weekly basis .
This includes producing payslips to employees and submitting RTI , FPS & EPS to HMRC.
Also Autoenrollment for pensions on NEST pension platform and annual payroll run to produce P35 & P60's and related payroll documentations.