Services

Corporation tax The tax a Limited company pays is called Corporation Tax . Certain rules have to be followed in calculating the profit made by the company and the reports need to be sent electronically in iXBRL format. Once we have prepared your accounts, we will calculate your corporation tax liability and let you know how much you need to pay and when you need to pay it. Once we have your approval, we will transmit your corporation tax return (CT600) to HMRC for you.

VAT In most cases, if the total sales your business makes over 12 months exceeds £85,000, you must register your business for VAT and charge your customers 20% VAT on top of your normal selling price. We can discuss your situation with you and assist with your VAT registration. Whether or not we do your bookkeeping for you, we can prepare your VAT returns and advise you of the amount you need to pay over to HMRC, or can expect them to repay to you. Once you’ve approved the figures, we can submit your return to HMRC for you.

Statutory Accounts Once a year, your Limited company has to prepare statutory accounts for sending to Companies House and to HMRC. Deadlines are set for these filings, and automatic penalties are charged if accounts are filed late. We will prepare your accounts, talk you through your results and answer any questions you may have. Then, once approved by you, we will submit the accounts on your behalf.

Sole trader and partnership accounts For unincorporated businesses, we can prepare sole trader or partnership accounts, for inclusion as part of your personal tax return.

Payroll We have a payroll accounting package that is recognised by HMRC, fully RTI compliant and can deal with Auto-enrolment and CIS tax. We can process your payroll whether you are a sole Director company, or have multiple employees. Each month, after you’ve sent us the information we need, you will be sent a payslip for each employee and a report showing how much you need to pay over to HMRC.

Management Accounts Statutory accounts can be prepared up to 9 months after the end of the accounting period. Most business owners like to keep a much closer eye on their "bottom line", and so have monthly or quarterly "management accounts" produced. This is a service we can either provide for you or assist you in doing for yourself.

Bookkeeping All businesses have to keep proper accounting records, but as long as you meet the minimum requirements, your bookkeeping can be as simple or as complex as you like. We do not require you to use any particular spreadsheet or accounting software. We can advise you as regards a suitable bookkeeping system for your business and help you get started with it. Or, we can take over most of the bookkeeping responsibilities for you.

Personal Tax If you receive income that has not been “taxed at source” (e.g. rental income or sole trader income), you will need to register for self-assessment and complete a tax return. This rule also applies to all UK company directors. We can help you to register for self-assessment and then, when your tax return is due, we ask you for the information we need, prepare your return and calculate the tax you owe. Once we agree the figures, we transmit the return to HMRC on your behalf.

Company Secretarial A Limited company is registered with Companies House. When you set up the company, you would already have provided information to Companies House as regards to who your company’s officers are and also its share capital and its registered office address.  If any of these change, you need to inform Companies House. Otherwise, you just need to confirm once a year that the company details have not changed. We will deal with all your communication with Companies House for you.

Advice and Assistance Throughout As your accountant/tax adviser, we are available throughout the year to discuss any business or tax related questions you have. We do not charge additional fees based on the time we spend dealing with your ad-hoc questions.