Solutions for Individuals and Businesses
Entering your day-to-day transactions and keeping your bank accounts reconciled is an especially important but time-consuming task when running a business.
We have experience on many forms of cloud and local accounting software including QuickBooks, Xero, Sage One, Kashflow, QuickFile, Sage Line 50 and Sage 200. If you are struggling to find the time to do your own bookkeeping, or whether you are looking to move onto one of the cloud accounting packages, why not give us a call and we can talk you through your options.
It is a statutory requirement for Limited Companies to file their accounts to Companies House on an annual basis, within 9 months of the Company’s year-end. No matter what industry your business operates in, we can assist you with the preparation of the accounts to ensure statutory requirements are met.
Although it may not be a statutory requirement for Sole Traders and Partnerships to file accounts, all business owners will need to prepare accounts to obtain the figures for their Self-Assessment Tax Return, due by 31st January following each tax year. If you are a Sole Trader or a Partner in a business, we can provide you with these services.
Corporation Tax Returns
In addition to Company accounts, all Limited Companies are usually required to pay any Corporation Tax within 9 months and 1 day after the end of the accounting period.
This may include some complex adjustments to ensure the correct taxable profits figure is calculated and the correct amount of tax is paid to HM Revenue and Customs.
If you are a VAT registered company, you are required to file a VAT return to HM Revenue and Customs on a regular basis. This is usually quarterly, and the VAT return should be filed within 1 month and 7 days following the quarter end.
If you are not yet VAT registered but are approaching the VAT threshold of £85,000 turnover in 12 months, we can assist you with registering for VAT, which should be done a month before the anticipation of exceeding the threshold.
Alternatively, if your business is VAT registered but believe this is no longer a requirement, we can look at this for you and assist you with the deregistration of VAT.
If your business employs staff, keeping on top of new employment legislation and minimum wage requirements can be a challenging task. As we are licensed to process payroll for businesses, we are always up to date with the changes so our clients do not need to worry.
Whether you require payroll processing on a weekly, fortnightly, four weekly or monthly basis, we can provide this service to you.
Self-Assessment Tax Returns
Do you receive untaxed income through your business, investments, or rental properties? If so, it is likely that you have a requirement to submit a Self-Assessment Tax Return for each tax year. The tax year runs from 6th April to 5th April every year, and your Self-Assessment Tax Return is due by 31st January following the tax year end.
If you need to submit a Self-Assessment Tax Return and would like our friendly team to do this for you, please get in touch for more information.
Capital Gains Tax Returns
When you sell an asset, you may be required to submit a Capital Gains Tax Return and pay tax on the gain. This is most common when somebody sells a residential property that they have not lived in (e.g. a rental or inherited property).
The legislation changed in October 2021 meaning all house completions after 27th October 2021 are to be reported on a Capital Gains Tax Return and any tax owed to be paid within 60 days of the completion date.
If you are in the process of selling a residential property, or are planning to do so in the future, we can calculate the capital gain and prepare the 60-day Capital Gains Tax Return for you.
If you are a business owner, you may want financial updates on your business on a regular basis so you can keep track of what areas of the business are making the most profit and alternatively, what areas are costing the most money.
We can provide you with monthly, quarterly, or six-monthly management accounts so you are always up to date with how your business is performing.
If this service is something you could be interested in, please let us know.
Company Directors have a legal requirement to ensure they keep Companies House up to date with any changes to the Company. This includes submitting a Confirmation Statement every year to make sure the information held by Companies House is correct.
Other common Company Secretarial duties include reporting any changes to the Directors, Registered Office, Company year-end or even the Company name.
If you require any assistance with Company Secretarial duties, please get in touch for more information.
Looking for more information about one of our services? Don’t hesitate to let us know.