Our Services
VAT
- VAT Registration: Advising if and when to register, and handling the process with HMRC.
- VAT Return Preparation: Calculating and preparing quarterly VAT returns based on your sales and purchases.
- VAT Return Submission: Submitting returns to HMRC under Making Tax Digital (MTD) rules, using compliant software.
- VAT Planning and Advice: Offering guidance on the best VAT scheme for your business and how to manage VAT efficiently.
- Liaison with HMRC: Acting as your agent to handle all communication and inquiries from HMRC.
Licensed Bookkeeping
- Recording Transactions: Accurately logging all income and expenses, ensuring every sale and business purchase is tracked.
- Bank Reconciliation: Matching business bank statements with the recorded transactions to ensure all financial activity is accounted for.
- Expense Management: Organising and categorising business expenses to ensure clients claim all eligible costs and reduce their tax liability.
- Invoicing and Credit Control: Creating and sending invoices on behalf of the client and following up with customers to ensure timely payments.
- Financial Reporting: Providing regular reports (e.g., profit and loss statements) to give the business owner a clear overview of their financial health and performance.
Payroll
- Employee Pay Runs: Calculating wages, PAYE tax, and National Insurance contributions, and providing payslips for employees (and the sole trader or partners, if on the payroll).
- HMRC Reporting: Submitting Real-Time Information (RTI) reports to HMRC on each payday, ensuring compliance.
- Pension Management: Handling auto-enrolment duties, including assessing employee eligibility and calculating and submitting pension contributions to a pension provider.
- Starters and Leavers: Managing the necessary paperwork and reporting to HMRC when an employee joins or leaves the business.
- Year-End Processing: Completing and submitting all required year-end forms, such as P60s, to employees and HMRC.
- Statutory Payments: Calculating and processing statutory sick pay, maternity pay, and other leave-related payments.
Financial Accounts for Sole traders and Partnerships
- Year-End Accounts Preparation: Compiling all financial data to produce the final accounts required for tax purposes.
- Self-Assessment Tax Return: Calculating and submitting the personal tax return for sole traders or the partnership tax return, based on the financial accounts.
- Income & Expenditure Reports: Providing regular reports to show business performance, helping the client understand profitability and cash flow.
- Allowable Expenses Advice: Guiding the client on what business costs they can claim to reduce their tax liability.
- Liaison with HMRC: Handling all communication and correspondence with HMRC regarding tax returns and financial queries.
