Services - what we can do

Annual Accounts and Management accounts are two different branches of accounting that serve different purposes and audiences.

Annual Accounts record and present information to assist you with running and monitoring your business.  It also feeds into to preparation of any tax returns that may be submitted.  The Annual accounts are also useful for presentation to any external sources, e.g. bank, regulatory bodies.

Management accounts provide information for the internal management of the business, such as managers and employees, to help them make informed business decisions. They are not just about numbers but provide a holistic view of where the business stands and where it’s heading.

For more information or queries please contact us direct.

A tax return is a document that is submitted in paper or online to HMRC every year showing details of income and certain costs. From these figures the tax return shows a calculation of how much tax is due.

A tax return might either be for an individual (in which case it might also be called a personal tax return, an income tax return or a Self- Assessment tax return) or it might be for an organisation, such as partnership (partnership tax return) or a company (Corporation Tax Return).

All personal tax returns have a main section which contains common types of income such as bank interest or dividends received, and common tax reliefs. Other types of income, such as profits from self-employment or salary from a job, are reported on separate sections.

There is also a section that covers foreign income, e.g. If your work takes you outside the UK.  We have experience of Overseas Tax and Residency queries.

For more information or queries please contact us direct.

We can assist with preparation for setting up a payroll to be done by the business owner and can also provide the service of processing the payroll on your behalf.  This includes distribution of payslips to employees and payroll submissions to HMRC.  We also provide guidance on auto enrolment for pension. 

For more information or queries please contact us direct.

We can provide guidance for you on an individual basis to which software is the most appropriate for your type of business.  Examples of packages are Freeagent, Xero and Sage.  This list is not exhaustive.  Cloud Accounting provides a far more efficient and effective way of conducting your own business and your relationship with your accountant.  This can also reduce your costs for any services we provide.

For more information or queries please contact us direct.

We can provide guidance whether your business would benefit from being a Limited Company including any shareholder advice.  If this is the route you would benefit from taking, we can assist with the creation of the limited company to register you with Companies House. 

Following this we would then be able to provide support with preparation of your statutory accounts and submission thereafter.  As a Limited Company you would also be required to provide an Annual Confirmation Statement.

For more information or queries please contact us direct.

We can provide you with the necessary information and guidance to which business set up is the most beneficial to you, e.g Limited Company, Sole Trader, Partnership.  Each business/person is unique in their own way so there is no “one size fits all” approach.  We will discuss how you conduct and provide services, including income, assets and how you see your business developing.

For more information or queries please contact us direct.

There are three main types of Tax – Income Tax, Corporation Tax and VAT (Value Added Tax).

Any Income Tax to be paid is based on your Income, some examples of this would be from employment, rental properties, dividends, private pension and bank interest.

Any Corporation Tax due is based on your profits following any adjustment in relation to tax, e.g. depreciation of assets is added back to the profit and capital allowances will reduce the taxable profit.  We will provide advice for you as an individual as every situation is different.

For more information or queries please contact us direct

We can provide a bookkeeping service using an agreed choice of software following discussion on the most appropriate one for your needs.  We can also provide you with continued assistance on how to process your daily/weekly transactions and any queries you may have on how to operate the system you decide to use. 

For more information or queries please contact us direct