Below are some of the services we offer to help run your business
SELF ASSESMENT From £100
- Registration with HMRC
- Complete & submit Self-assessment
- Dealing with tax queries from HMRC
SOLE TRADERS, PARTNERSHIPS & CIS
|Turnover Per Year:||Upto £25k||Upto £26k-£50k||Upto £51k-£85k||>£86k|
|VAT & MTD||N/A||N/A||N/A|
|Payroll & Pension|
|Self- Assessment /Person|
|Total cost Per year Including VAT||From|
COMPANIES & CIS
|Turnover Per Year:||Upto£25k||Upto £26k-£50K||Upto £51k-£85k||>£86k|
|VAT & MTD||N/A||N/A||N/A|
|Payroll & Pension|
|Corporation Tax Return Accounts & Company secretarial services|
|Total cost Per year including VAT||From|
Are you too busy running your business and unable to spend time for day to day bookkeeping?
We can help run the accounting functions of your business efficiently and cost effectively. This leaves you to concentrate on doing what you do best. We can post all invoices and receipts to our online accounts package. No more scrambling around looking for documents.
VAT & MTD
MTD has become a compulsory requirement for most of the business and those who are VAT registered on or after April 2019.
Preparing and submitting your VAT return can be a confusing and pressured experience, with variances around what you can claim for, what it applies to, and what type of business you have. Many people find they have mistakenly overpaid or underpaid, leading to yet more hassle.
We understand the intricacies of the VAT system, how it will relate to your business, and everything that you should be claiming on. We have a wealth of experience in VAT regulations and can make sure your VAT return are accurate and submitted on time. With us, there is no need to be worried..
We can help you with:
- VAT registration, compliance and deregistration
- Choosing the most suitable VAT scheme for your business
- VAT planning
- Online VAT filing to avoid late filing penalty
- Dealing with HMRC on your behalf
- Handling VAT investigations, appeals and negotiation
We can compile your VAT return from your own records, but the process is much easier if we are also handling your day-to-day bookkeeping.
Payroll & Pension
Payroll and auto enrolment pension has become more complicated now. You need to comply with Pension Regulators for autoenrollment if you have employees. We can take over the payroll and pension function of the firm to include
- Preparation of payslips
- Calculation of monthly PAYE deductions
- Submission of P60, P11D, CIS etc
- Production of P45 when required
- Registration of new employees.
- Registering for auto enrolment pension scheme
- Management of pension scheme
- Submission of monthly pension contributions and much more..
Self Assessment uses to collect Income Tax for individuals and business who are not subject to PAYE. It needs to be submitted to HMRC after the end of the tax year (5 April) it applies to.
You may need to file a tax return if you are:
- Self-employed or a partner in a business
- Freelancer, contractor or a company director
- Landlord or having investment properties
- Savings or investment income
- Bought/received or sold shares
- Income from overseas like foreign pensions, rental property abroad.
If you are too busy with your personal life or in your career , we can offer the services from book keeping to filing your tax return on time and advice on payment of tax liability.
Corporation Tax Returns
A personal limited company is a company owned by you. It is a separate legal entity giving you legal protection against any personal liability. A personal limited company is responsible for paying its own taxes and ensuring it fulfils all of its duties.
We will set you up with your own personal limited company. You will be the sole director and shareholder of the company. Our incorporation service includes the registration of all relevant taxes such as Corporation Tax, PAYE and VAT.
You will need to open a separate business bank account for your company. You will be responsible for invoicing your agency / clients. You will submit this to us each month and we will tell you how much is available for you to take from the business as dividends or salary and what needs to be retained to pay your tax liability.
We will prepare your company’s PAYE submissions, VAT returns, company accounts to HMRC and Companies House which will be sent to you for approval before submission and advise on the steps to make payments.
Advantages of a Limited Company
- Paid a higher rate than an Employee
- Greater flexibility than an Umbrella Company
- Can utilise expenses to offset tax
- Great benefit to Company Pension
- Self Employed – you are your own boss
- Free to make your own business decisions
Disadvantages (against Limited Company option)
- No PAYE tax credit
- More responsibilities than an employee
- State welfare can be less accessible
- Must have own business insurance
Company Secretarial Services
The company secretarial duties would extend to ensuring that the company’s annual accounts are filed on time at Companies House. For a private limited company, under normal circumstances, this must be within 9 months of the end of the accounting year. As the company law is both complex and detailed, and can be quite onerous on small businesses.
The day to day control of a company and its assets puts legal duties on the directors and company secretary.
The regulations surrounding the preparation and filing of documents with the Companies House have become more complex.
Fear not though, because we can help you! We have expertise in all aspects of the legal duties of directors and company secretaries.
- Form a company for you and register your business name in the Companies House.
- Prepare and submit your annual returns, abridged accounts and all your company secretarial documents to the Companies House.
- Advise you on the responsibilities of directors and the company secretary.
- Advise you on the issue and transfer of shares.
- Change your company name.
- Deal with changes of directors and/or the company secretary.
- Change your registered office.
- Establish and maintain your company register.
- Deal with company voluntary strike off and dissolution and much more..
Construction Industry Scheme Tax Return (CIS)
Under the Construction Industry Scheme (CIS), contractors deduct money from a subcontractor’s payments and pass it to HM Revenue and Customs (HMRC).The deductions count as advance payments towards the subcontractor’s tax and National Insurance. Contractors must register for the CIS scheme. Subcontractors don’t have to register, but deductions are taken from their payments at a higher rate if they’re not registered.
If you are working under construction industry scheme (C.I.S) as a sub-contractor, we can help you to file your personal tax return. At the end of the tax year ( usually 5th April ), HM Revenue & Customs will send you a notice to file the tax return or if we are acting an accountant for you, we will send you a reminder to file your personal tax return.
You will have to declare the income from all the resources in the tax returns.
- The full amounts on your invoices as income.
- Any deductions contractors have made in the ‘CIS deductions’ field.
We will guide you on the relevant expenses that you can claim to minimise your tax liability. We will work out your tax and National Insurance bill and take off any deductions/expenses made by you.
If you still owe tax after this, you’ll need to pay it by 31 January following the end of the tax year. If you’re due a tax refund, we will help you to get the refund from HM Revenue & Customs.
If you are the main contractor who has to operate the CIS scheme, we can help you setting up the procedures, verify all your sub-contractors and report all the tax deductions you make on labour every month to HM Revenue and Customs. We will also produce a liability summary every month to advise you how much to pay.
Free Tax advisory for our clients
We advise on every step of your success on tax point of view to avoid any over or under paying of taxes and suggest a best advise that you need for your business..
Free Business start-ups and Company Formation
We will register your new business whether sole trader, partnerships or company with HMRC for free. Registration of Company in the Companies House also included. If you are an individuals we will register you for self assessment with HMRC.
Once we register your business, HMRC will send you an agent authorisation code so we can act as an agent on behalf of you. You will need to give us the authorisation code to confirm.
We will also advise you what is best according to your needs whether to start a sole trader or register your business as a company.