Accountancy Services
Accounting Systems
Through the use of IT, we can improve the efficiency and effectiveness of our clients accounting programs. We are Sage Accountants Club Members and can supply software and hardware. We also provide full training on the use of Sage and will help you every step of the way to computerise your accounts.
Bookkeeping
We can provide you with fast and effective bookkeeping and accounting services giving you more time to focus on other activities within your business. Our services range from day-to-day bookkeeping, to the preparation of your end of year accounts.
We can also help you maintain VAT records, prepare your payroll, and help with any other one-off accounting activities you need support with.
Business planning
Every business must plan ahead in order to ensure success, but it is too easy to succumb to the daily pressures of work and delay or ignore strategic planning. The result of poor planning is often rushed and misinformed decisions, over/under capacity, inefficiency and missed opportunities.
Every business owner needs to invest time in developing a long-term plan, starting with what you want to achieve from your investment and what your reasons for being in business are, and then developing a plan to help achieve these objectives.
We are well placed to help you develop these plans and have a considerable pool of experience and expertise to draw on. The financial aspects are usually the backbone to any business plan and you need to ensure that this aspect has been adequately dealt with in your plan. Contact us today for a strategic planning review.
Business start-up
Most people who start up in business do so because they have a good business proposition, not because they are experts in the financial aspects of running a business. These factors can often be quite daunting to the entrepreneur and this is where we can help by evaluating your ideas and helping you develop them into a feasible business.
We can also help you:
Company secretarial
When running a hectic business you cannot afford to use valuable time making sure you are complying with the Companies Act. However you do need to be aware how this legislation affects your company and its directors. We can help by carrying out the company secretarial duties for you. Our services include:
The most important part of our compliance services is the preparation of periodic management accounts. Monitoring and controlling the financial performance of your business is of paramount importance and regular management information is vital to the continued success of your business. We can either carry out this function for you or help you set-up internal systems to generate the information.
We will also take this service one step further by interpreting these figures for you and making suggestions to help you improve your profits or to help your business grow.
Payroll
Running your own payroll can be time consuming and complicated, particularly with the ever increasing complexity of taxation and employment legislation. There is an increasing burden on business to comply with these issues and non-compliance can lead to substantial penalties. We can prepare payrolls for businesses with 2 to 200 staff.
Our service is comprehensive and confidential and includes:
Statutory accounts
If you are a limited company then you are required to prepare accounts that must be filed with Companies House in a statutory format within 7 or 10 months of the company's year end. We can help you by preparing your statutory accounts and filing them with Companies House for you.
We are also Registered Auditors and will carry out the statutory audit if required.
Taxation
Corporation Tax: Corporation tax will represent a substantial cost to any profitable limited company, not only in terms of the tax itself but also in compliance with reporting obligations, investigations with tax authorities and penalties for non-compliance.
We can help you minimise your corporation tax payments and relieve you of any administrative burden of complying with tax legislation. We will deal with all business tax matters, including preparing income and /or corporation tax computations and preparing and submitting your partnership tax return or corporation tax self-assessment return.
Capital Taxes: We provide a full Capital Gains and Inheritance Tax planning service . Talk to us before deciding to acquire or sell an asset and we can advise on the tax implications and how to minimize the CGT liability . A little planning before making a will can make a large difference to the tax payable by your estate on death. We can outline your options and advise on the Inheritance tax implications.
Useful Links:
HMRC
Business Link
Companies House
Department of Work and Pensions
Through the use of IT, we can improve the efficiency and effectiveness of our clients accounting programs. We are Sage Accountants Club Members and can supply software and hardware. We also provide full training on the use of Sage and will help you every step of the way to computerise your accounts.
Bookkeeping
We can provide you with fast and effective bookkeeping and accounting services giving you more time to focus on other activities within your business. Our services range from day-to-day bookkeeping, to the preparation of your end of year accounts.
We can also help you maintain VAT records, prepare your payroll, and help with any other one-off accounting activities you need support with.
Business planning
Every business must plan ahead in order to ensure success, but it is too easy to succumb to the daily pressures of work and delay or ignore strategic planning. The result of poor planning is often rushed and misinformed decisions, over/under capacity, inefficiency and missed opportunities.
Every business owner needs to invest time in developing a long-term plan, starting with what you want to achieve from your investment and what your reasons for being in business are, and then developing a plan to help achieve these objectives.
We are well placed to help you develop these plans and have a considerable pool of experience and expertise to draw on. The financial aspects are usually the backbone to any business plan and you need to ensure that this aspect has been adequately dealt with in your plan. Contact us today for a strategic planning review.
Business start-up
Most people who start up in business do so because they have a good business proposition, not because they are experts in the financial aspects of running a business. These factors can often be quite daunting to the entrepreneur and this is where we can help by evaluating your ideas and helping you develop them into a feasible business.
We can also help you:
- decide on the most suitable structure for your business (i.e. sole trader, partnership or limited company)
- prepare a business plan, cashflow projections, budgets and trading forecasts to prove the financial viability of your ideas and demonstrate this to the bank / potential investors
- assess your finance requirements and access the most appropriate source of finance
- help you establish relationships with banks, solicitors, etc via our well established network of contacts
- carry out registration procedures with Companies House, Inland Revenue or Revenue and Customs
- set up an internal accounting system which complies with statutory requirements
Company secretarial
When running a hectic business you cannot afford to use valuable time making sure you are complying with the Companies Act. However you do need to be aware how this legislation affects your company and its directors. We can help by carrying out the company secretarial duties for you. Our services include:
- company formations
- preparation and filing of statutory returns
- preparation of all documentation (such as minutes and resolutions)
- maintenance of statutory books (share register, minute book, etc)
- general advice on company legislation
The most important part of our compliance services is the preparation of periodic management accounts. Monitoring and controlling the financial performance of your business is of paramount importance and regular management information is vital to the continued success of your business. We can either carry out this function for you or help you set-up internal systems to generate the information.
We will also take this service one step further by interpreting these figures for you and making suggestions to help you improve your profits or to help your business grow.
Payroll
Running your own payroll can be time consuming and complicated, particularly with the ever increasing complexity of taxation and employment legislation. There is an increasing burden on business to comply with these issues and non-compliance can lead to substantial penalties. We can prepare payrolls for businesses with 2 to 200 staff.
Our service is comprehensive and confidential and includes:
- computer generated payslips
- administration of PAYE, national insurance, statutory sick pay, statutory maternity pay, etc
- completion of statutory forms (including year end returns)
- summaries and analysis of staff costs
- administration of incentive schemes, bonuses and ex-gratia termination payments.
Statutory accounts
If you are a limited company then you are required to prepare accounts that must be filed with Companies House in a statutory format within 7 or 10 months of the company's year end. We can help you by preparing your statutory accounts and filing them with Companies House for you.
We are also Registered Auditors and will carry out the statutory audit if required.
Taxation
Corporation Tax: Corporation tax will represent a substantial cost to any profitable limited company, not only in terms of the tax itself but also in compliance with reporting obligations, investigations with tax authorities and penalties for non-compliance.
We can help you minimise your corporation tax payments and relieve you of any administrative burden of complying with tax legislation. We will deal with all business tax matters, including preparing income and /or corporation tax computations and preparing and submitting your partnership tax return or corporation tax self-assessment return.
| Rate | 2007-08 | 2008-09 | |
| Starting rate: 0% | N/A | N/A | |
| Marginal relief | N/A | N/A | |
| Small companies | £0 - £300,000 - 20% | £0 - £300,000 - 21% | |
| Marginal relief | £300,001–£1,500,000 | £300,001–£1,500,000 | |
| Main rate: 30% | £1,500,001 or more | £1,500,001 or more | |
| Non-corporate distribution rate | N/A | N/A |
Income Tax & Self Assessment: Self assessment returns need to to be filed by 31 January each year. We offer a quick reliable service countrywide to ensure you meet all deadlines.
| Income tax allowances | 2007-08 (£) | 2008-09 (£) |
| Personal allowance | 5,225 | 5,435 |
| Personal allowance for people aged 65-74 | 7,550 | 9,030 |
| Personal allowance for people aged 75 and over | 7,690 | 9,180 |
| Income limit for age-related allowances | 20,900 | 21,800 |
| Married couple's allowance for people born before 6 April 1935 | 6,285 | 6,535 |
| Married couple's allowance - aged 75 or more | 6,365 | 6,625 |
| Minimum amount of married couple's allowance | 2,440 | 2,540 |
| Blind person's allowance | 1,730 | 1,800 |
| Taxable Bands Allowances | 2007-08 (£) | 2008-09 (£) |
| Starting rate 10% | 0 - 2,230 | 0 - 2,230 |
| Basic rate 22% | 2,231 - 36,600 | 2,231 - 36,600 |
| Higher rate 40% | over 34,600 | over 34,600 |
Capital Taxes: We provide a full Capital Gains and Inheritance Tax planning service . Talk to us before deciding to acquire or sell an asset and we can advise on the tax implications and how to minimize the CGT liability . A little planning before making a will can make a large difference to the tax payable by your estate on death. We can outline your options and advise on the Inheritance tax implications.
| Annual exempt amount | 2007-08 (£) | 2008-09 (£) |
| Individuals etc* | 9 200 | 9 200 |
| Other trustees | 4 600 | 4 600 |
* Individuals, trustees of settlements for the disabled, and personal representatives of the estate of a deceased person.
VAT: The Vat system is policed by HM Revenue and Customs with heavy penalties for breaches of the legislation. We advise on all Vat matters including Registration & De-registration, partial exemption and property transactions. We can also assist you in a number of ways including:- Tailoring your accounting records to bring together the Vat information accurately and quickly.
- Providing assistance with the completion of Vat returns.
- Negotiating settlements with HM Revenue and Customs if disagreements arise.
Useful Links:
HMRC
Business Link
Companies House
Department of Work and Pensions