My Financial Controller
Our core accounting services bring you peace of mind that your financial reporting and tax are in expert hands and you're making use of all available tax reliefs.
Limited Companies and Limited Liability Partnerships
As a limited company or limited liability partnership, you are required to prepare statutory accounts that are compliant with UK accounting rules, and submit these to Companies House annually. We provide peace of mind knowing that this is all taken care of for you by our experts.
Sole Traders and Partnerships
Sole Traders and Parnerships aren't required to file statutory accounts with Companies House - however, year end accounts are still needed for your annual income tax self-assessment.
Partnerships and Limited Liability Partnerships
Just as importantly, we'll use the annual accounts and your partnership agreement to calculate individual partner's profit shares - providing peace of mind that this has been done accurately and independently.
Whatever your business structure, we'll make sure your tax position is optimised with all allowable expenses, allowances and reliefs applied.
As a limited company you're required to file a Corporation Tax Return annually with HMRC. We'll calculate your tax obligations, take care of everything that HMRC require and inform you of the corporation tax payment required in plenty of time.
Along with preparing the company accounts and tax returns we'll also prepare the personal tax returns for Company Directors. We go beyond just submitting accurate calculations and paperwork, making sure your board of directors are being collectively tax efficient in how you get reimbursed from company profits - with the optimal mix between salary, benefits, pension contributions and dividends.
Sole Traders, Partnerships and Limited Liability Partnerships
As a sole trader or partner you need to pay Income Tax and National Insurance on your business profits (or share of profits) under the Self Assessment scheme. We'll calculate your tax obligation(s), make sure you're being as tax efficient as possible and complete your self-assessment tax return(s).
If you're VAT registered we'll prepare and submit your quarterly VAT returns. Unlike many other firms we go beyond just completing your paperwork and filing obligations - we'll carry out an audit of all transactions for the period, checking that purchase VAT has been claimed whenever it can be (and not when it shouldn't).
We'll also keep reviewing the different VAT schemes (e.g. flat rate, cash, accruals) to make sure you're on the right scheme for you. And we'll help deal with any enquiries or investigations from HMRC.
Payroll can be complex and time consuming - especially with Real Time Information and pension auto-enrollment. We'll take care of the monthly preparation and filing of your businesses payroll to HMRC, and provide payslips to your employees (and Company Directors where relevant).
We can also advise on opportunities to reduce your PAYE bill, such as the £3,000 employer's allowance that is currently available to reduce your employer's National Insurance bill.
HMRC is carrying out more tax enquiries and compliance checks than ever before. Your business could be selected because of general concerns around your industry, because a customer or supplier was reviewed and issues found, or you could just be selected at random. If this happens to you, you will need to prove that HMRC's suspicions are unfounded. You'll be required to answer detailed questions and enquiries can drag on for several months. Without tax investigation cover, professional fees can come to hundreds or thousands of pounds.
We don't want you to have to worry about this, so include a service in all our business packages under which, in the event of an HMRC enquiry or inspection:
- We represent your case with HMRC, saving you the hassle, without any additional cost to you.
- If the case is complex, we have access to specialist tax advisers (including former HMRC inspectors) so that you have the best possible defense at no additional cost.
- If matters progress further, in most cases the professional fees for defending you will also be covered.
Most importantly, this means that you'll never have to concede to HMRC's demands because of financial pressures.
For Limited Companies and Limited Liability Partnerships - as well as filing your annual accounts, we can complete your annual Confirmation Statement and file this with Companies House.
In order to provide you with the value we want to it's important that we understand your business goals. We'll meet with you annually to review your business and personal goals, where you stand currently and what obstacles you're facing. We'll help develop an action plan and check in with you more informally during the year to review progress. This service is included in all our business packages, as our minimum level of strategic support, so that we have the context and direction we need when working with you.
We're passionate about providing the highest quality of service and doing everything we can to help you achieve your goals. If you have a question we want you to ask it, without having to worry about incurring additional fees. That's why we include free phone and e-mail support as standard in all of our packages*. We'll get back to you via e-mail, phone or by sending you a short video - whatever's the best way of answering your question.
If your question is more involved, for example it requires specialist research into a complex tax rule or involves extensive calculations, we may not be able to answer it within the scope of our free support service. But in that case we'll use the time to scope out what's involved, how you'll benefit from it, explain this to you and put together a fixed fee proposal for completing the additional work.
*subject to fair use.
Even though you don't need the full bookkeeping services we provide in other packages, we'll still support you in your bookkeeping. We'll review your processes and technology with you to make sure we get the all information we need to provide our services. We'll also look for opportunities to make your in-house bookkeeping more convenient for you and easier for us to support.
Cloud based accounting software makes it more convenient than ever to maintain your books and records. It integrates with your bank accounts, lets you check balances, upload purchase invoices and receipts and send customer invoices wherever you have internet access. You can run your business and access your accounts from work, home, or on the go.
We'll help you choose the most appropriate software for your business, set everything up and help you transfer your data. This lets us provide you with a much higher standard of support. It also means that we can seamlessly integrate your data with our systems - no need to transfer your books to us.
If you're already using cloud based software for your bookkeeping we'll make life even easier by providing expert support. We have partnership agreements with all the major providers and include your subscription costs as part of our fees.
This means you have fewer invoices to deal with and that we can more easily access your accounts to provide support. More importantly, we can seamlessly integrate your data with our systems - so there's no need to transfer your books to us.
And if you're looking for a change - we'll use our expertise to review your bookkeeping processes and suggest the software that's best for you.