Whether you are self employed or Incorporated at Companies House, it is a legal requirement to keep accounting records and store them for a minimum of six years.
We can complete your books on a regular basis. Ensure that all control accounts are reconciled on a regular basis and provide you with regular reports such as debtor and creditor listings.
Payroll
As an employer you have a legal obligation to operate PAYE on the payments you make to your employees even if you’re the only person working in your business. If you run a one-person limited company, you’ll be both an employer and an employee. You’ll need to calculate both Income Tax and national insurance contributions due to the tax man.
Our payroll services take the worry away of needing to employ staff with specialist knowledge. We provide a timely, accurate and flexible service designed to meet your needs.
VAT
We will advise you with regard of various VAT related issues (e.g. should you be register for VAT and how to register, whether the accruals or cash accounting basis is the best option etc).
We can complete your calculations for VAT returns from your own records or/and provide a book-keeping service to enable the VAT returns to be completed.
Self Assessment Tax Returns
A tax return is a form on which you must give details of your income and expenses, if asked to do so by HM Revenue and Customs (HMRC). The tax return is then used to calculate the amount of tax that you are due to pay.
If you fall into any of these categories, you may need to submit a Self Assessment Tax Return form:
Corporation Tax Self Assessment
Companies are required to file a corporation tax return (form CT600) together with supplementary pages (if appropriate) and full accounts and computations with the Inland Revenue. Deadlines apply to the filing of CTSA returns and the payment of corporation tax.
Penalties apply for late submission of the return of £100 if it is up to three months late and £200 if the return is over three months late. Additional tax geared penalties apply when the return is either six or twelve months late.
We can prepare tax returns in a timely and efficient manner. We will also calculate your company's tax liability and assist with the calculation of any quarterly instalment payments.
Tax Refund
Have you ever thought that you might be paying too much tax?
You are almost guaranteed tax refund if you satisfy one of the following criteria:
If you have overpaid your taxes within the last 5 years, we guarantee the tax rebate service (we charge only 10%)
Self Employment
Self-employment means working for yourself. You are your own boss. You decide what you do each day and what you charge. You may employ people to work for you. You may have business partners to share the work with.
You're usually self-employed if you can answer 'yes' to the following:
As a self employed person, you will be taxed differently to an employee. You will be responsible for paying income tax on your earnings and will usually need the help of an accountant. There are special tax relieves and allowances which self-employed people can claim.
If you are registered as self-employed you'll be sent a Self Assessment tax return (if you file on paper), or a Notice to File (if you file online) soon after the end of the tax year - 5 April. The paper return must reach us by 31 October following the end of the tax year. The online return must be filed with us by 31 January following the end of the tax year.
The services we provide are:
Limited company
A company is recognised as a legal entity, separate from the person or persons who formed the company and/or the directors and shareholders i.e. it has a separate legal existence and the officers (company secretary and directors) are employed by it.
We will perform the following services for you on an annual basis:
Un audited statutory accounts (Annual accounts)
It is vitally important to produce timely and accurate financial reports for all businesses.
We prepare annual accounts for Sole Traders (Self-employed), Partnerships and Limited Companies in the format that our clients can understand but also ensuring that they comply with the requirements of the relevant authorities.
CIS
We have a full working knowledge of the CIS scheme and can offer CIS clients a full, efficient and prompt accountancy service for very reasonable fees.
Our services:
Child Benefit, Tax Credits and Pension Credit:
You might be entitled to receive additional financial help from the Government and you do not even know about that.
We can help you find out if you are eligible for any of the available benefits and we will help you to apply.
Tax credits are payments from the government. If you're responsible for at least one child or young person who normally lives with you, you may qualify for Child Tax Credit. If you work, but earn low wages, you may qualify for Working Tax Credit.
The amount of tax credits you get depends on things like:
Your payments also depend on your income. The lower your income, the more tax credit you can get.
If you're aged 60 or over you may be entitled to Pension Credit - extra money each week. It's made up of two elements - the 'Guarantee Credit' element and the 'Savings Credit' element (which may be payable from age 65).
Age 60 or over - Guarantee Credit element
If you're single, you’ll get the difference between £130 and your total weekly income if it's less than this.
If you live with a partner, you’ll get the difference between £198.45 and your joint total weekly income if it's less than this.
But you may get more money if you have caring responsibilities, are severely disabled or have certain housing costs.
Age 65 or over - Savings Credit element
If you or your partner are aged 65 or over, you may be entitled to the guarantee credit, the savings credit or both.
The savings credit is a maximum: