Accounts & Taxation
Sole traders, partnerships and limited companies are all required to prepare a set of annual accounts. I can prepare these for you using the records you have kept throughout the year. I will discuss the accounts with you either in a meeting or over the phone and we can look at the year ahead as well.
Ideally your accounts will be prepared within 3 months of the year end rather than up against HM Revenue & Customs and Companies House deadlines. This allows for a more detailed approach and time to plan in your current year.
Company accounts will be filed online on your behalf with Companies House.
Companies also have a Corporation Tax return to file with HM Revenue & Customs. I will prepare this for you with your accounts. The Return will be filed electronically with HM Revenue & Customs on your behalf.
Partnerships require a partnership tax return and this will be prepared with the accounts, then filed online with HMRC on your behalf.
Partnership profit shares and Sole Trader profits form part of your self-assessment tax return.
People in business must file a self-assessment tax return at the end of every tax year. If I already prepare your accounts, I will complete your self-assessment tax return and notify you of your tax liability and due dates for payment.
You may need a tax return for another reason, for example you may have rental income, be subject to the high-income child benefit charge, or perhaps you have sold an asset and have a capital gain. If you think you may need to file a return for any other reason, please get in contact so we can discuss your requirements.
I can set your business up with cloud based bookkeeping and provide the training and support you need.
If the bookkeeping is a burden that is taking you away from doing what you do best, then why not let me take it on for you. We can discuss your bookkeeping requirements and come up with a plan that best suits you.
Do you want someone to have a final check of your VAT return before you file it with HM Revenue & Customs? The review service I offer does just that.
Alternatively, I can prepare and file your VAT return for you, advising you of the liability and due date for payment.
Ideally your VAT return should be prepared within 2 to 3 weeks of the quarter end and not right up against the filing and payment deadline.
Contractors must submit monthly returns to HM Revenue & Customs showing how much tax they have deducted from their subcontractors. Even if there is nothing to go on the return you must still submit it. If you would like me to run these returns for you on a monthly basis then please get in touch.
Payroll can be processed on a monthly basis including RTI and auto enrolment submissions. This will ensure you are compliant with HM Revenue & Customs. We will use a time frame for receiving payroll information such as hours worked, holiday and sick leave for example, to be sent over so that your payroll will be processed before the wages are paid and the payslips issued on time.
Dividend and income planning
Being an accountant for a limited company is more than simply preparing the annual accounts and corporation tax return. I can look at the income you take from the company alongside any other income you are receiving to ensure you are taking it in the most tax efficient manner. If we vote dividends, I will also draw up the necessary paperwork.
I can update Companies House on your behalf with any changes you wish to make to your company. I will also file your Compliance Statement on your behalf. Company Secretarial deals with changes to a company and the paperwork that goes with it.
Regular management accounts can help give you an insight into the ongoing performance of your company and help you to plan better for the future. These can be prepared on a monthly or quarterly basis as part of your bookkeeping package or an additional service.
Start-ups and Company Formations
There are lots of things to consider when you start a business. We can have a chat through what you need to do and help you to complete the forms and registrations with HM Revenue & Customs and Companies House. I can form a Company for you if this is the route you wish to go down.
If there is anything else you require help with, please do get in contact so that we can discuss your requirements in more detail.