Accountancy as a profession encompasses a plethora of services and specialities.
Whether your company requires short term cash flow assistance or funding for a large asset purchase or a company acquisition, the lending financial institution will require certain information regarding you and your company.
Along with the relevant application forms, the potential lenders could request information as diverse as...
• Historic financial statements
• Historic CT600 tax returns
• Profit & Loss forecasts
• Balance sheet projections
• Cash flow forecasts
• Personal income declarations
Bookkeeping is the backbone of any finance function and is the basis upon which all further works and submissions are based.
Depending on the size of your business we can provide bookkeeping to suit your needs, whether that is simple bank analyses or complete financial entries on sage or quickbooks.
Buying or selling a business can be a lengthy and very involved process. The buyer, seller and each party’s solicitors will require certain financial information relating to the transfer of the business.
Whether the transfer is subject to a SPA (share purchase agreement) or a BPA (business purchase agreement), information regarding the financial and tax positions of the business to be sold will have to be ascertained and agreed upon.
Clear understanding of accounting practices and tax laws help us to assist you in these negotiations to make the process as painless as possible.
During the life of your business you will require assistance on the governance and directions to take. We can assist in the following...
• Set up
• Accounting policies
• Shareholder structure
• Board structure
• Tax planning
• Asset management
• HMRC correspondence
• Cessation
We can assist in the structure of your business..
• Tax planning
• Ltd company, LLP, Partnership or sole trader set up? Which is best for you?
A cash flow forecast is a plan that shows how much money a business expects to receive in, and pay out, over a given period of time.
A profit and loss forecast shows how much profit is likely from a predicted level of trading
Cash Flow preparation
Profit forecasting preparation
Under the Construction Industry Scheme (CIS), contractors deduct money from a subcontractor's payments and pass it to HM Revenue and Customs (HMRC).
HMRC Submissions
Subcontractor verifications
CIS advice
Work covered by CIS
Exceptions
Contractor Registrations
When a contractor makes a CIS deduction they must provide the subcontractor with a CIS payment and deduction statement. This is the written evidence which the subcontractor can use to prove any tax deductions with HMRC
Statement of payment and deduction preparation
No PAYE Scheme:
CIS suffered - Self Assessment Tax Return
PAYE Scheme:
CIS Deductions suffered appear on the Employer Payment Submission to reduce your PAYE costs to HMRC by the value of any tax deduction that was automatically made from your invoices by a contractor.
EPS Submissions
CIS Refund Claims
Change of registered office
Change accounting reference date
Change of Directors Details
Change of Secretary Details
Change of Person with significant control details
Appointment of director / secretary
Termination of director / secretary
Notification of a person with significant control
Allotment of shares / Share certificates
Company change of name
Company change of service
Application to strike off
Withdrawal of application to strike off
Company formation is the process of legally incorporating a business as a limited company or LLP at Companies House.
As a result, the business becomes a distinct legal entity. The process is also referred to as 'company incorporation' and 'company registration'.
Company formation service
Memorandum and articles of associates
Share Certificates
Company registration number
Companies House Authentication Code
Business valuation is a process and a set of procedures used to estimate the economic value of an owner's interest in a business.
Valuation is used by financial market participants to determine the price they are willing to pay or receive to effect a sale of a business.
Company valuation preparation.
The confirmation statement is a document that limited companies and LLPs must file at Companies House each year. For companies, the confirmation statement contains detailsof its directors and shareholders, while the confirmation statement of an LLP lists its members. For both limited companies and LLPs, the confirmation statement also shows the business’s registered office address.
Confirmation statement submission
Related Company updates
A corporate tax, also called corporation tax or company tax, is a direct tax imposed by a jurisdiction on the income or capital of corporations or analogous legal entities
Preparation of financial statements
Corporation tax liabilities
Time to pay plans
Tax planning schemes
You may wish to register a limited company or LLP and then keep that company dormant. There are many reasons for this, such as wanting to keep a company name, wanting a company ready to go for certain income streams.
The dormant status of a limited company or LLP would still necessitate certain submissions to HMRC and Companies House..
• Dormant status submission to HMRC
• Dormant company accounts submission to Companies House
• Annual confirmation statement submission to Companies House.
Due diligence is the investigation of a business or person, usually prior to entering into a contract. As such, due diligence engagements can vary in size and focus.
The process includes..
• Compatibility audit
• Financial audit
• Macro-environment audit
• Legal audit
• Marketing audit
• Production audit
• Management audit
• Information systems audit
• Reconciliation audit
Financial references can be sought for many reasons. These include..
• Company reserves reference
• Directors Loan Account reference
• Personal income reference
Accounting checks performed under strict guidelines. These include ..
• Fraud detection
• Psychology
• The investigative process
• Gathering evidence
• Gathering non-financial evidence
• Interviewing
• Fraud risk assessment
• Fraud prevention
• IT fraud
Contact us for more details.
Inheritance Tax
Inheritance tax calculations upon death are usually performed by the appointed solicitor. However, by careful planning, inheritance tax can be mitigated by the legal movement of assets with careful reference to inheritance tax and capital gains tax timing rules.
Capital gains tax
The sale of certain qualifying assets, attract tax liabilities on the value of the taxable gain. However, by careful planning, capital gains tax can be mitigated by time planning the sale of assets with careful reference to capital gains tax rules.
Income received from property rental should be declared within a separate section of a tax payers Self-Assessment tax return.
New rules have come into play with regards to lending charges on the purchase of a property.
We can offer ..
• Rental accounts
• Self-Assessment submission
• Asset management with view to tax mitigation
Whether the management accounts are required by the board for financial analysis and decision making, or by financial institutions to ensure their investment is still sound, we can produce monthly or quarterly management accounts to fit your needs.
• Full financial statements
• Cash flows
• P&L statements
Lead attorneys for this practiceRegistering as an employer with HMRC for the purpose of payroll
Year-end process including P60's
SMP works
SSP
P4 5process
All payroll reports provided upon request
Al l pay frequencies available for submission to HMRC
Pa yslips emailed to the employer to make it easier to keep and distribute securely
Monthly PAYE liability's submitted directly to HMRC
Payroll software compatible to most pension providers to make the necessary contribution deductions and send reports back to the employer
Friendly advice
Income
Self-Employment Income
Employment Income
Dividend Income
Interest Income
Pension income and state benefits
Rental Income
Foreign Income
Share Schemes
Other lncome
Reliefs
Pension Contribution
Charitable giving & annuities
Business Investments
Allowances
High Income child benefit charge
Self-Assessment
Completion and analysis of full accounts
Completion and submission of your tax return
Analysis of student loan repayments (If applicable)
Self-Assessment tax planning (Time To Pay scheme)
E-Signing services.
Sub-Contractor Accounts
Reconciliation of all income and expenditure
Full analysis of all CIS suffered ( if applicable)
Full accounts completion (Including Statement of financial position if applicable)
CIS registration services.
Services in this category-
Death penalty appeal
Murder by accident
More information coming soon
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More information coming soon
More information coming soon
What is VAT, does it affect you, and — if so - how do you register for it?
On hand professional advice 5 days a week
De Registering tor VAT if your taxable supplies are less than the de-registration limit.
De-registration threshold
Rules regarding when a de-registration is permitted
Oneline de-registration
VAT registration is the process of listing your business with the government as active in production and sales.
Compulsory registration threshold.
Voluntary registration
Online registrations
Vat Certificate
Vat schemes
A Vat Return is a form you file with HMRC. A Vat return records things for the accounting period like. Total sales and purchases, the amount of Vat you owe, the amount of Vat you can reclaim and what your Vat refund from HMRC is.
Vat preparation.
Vat Submissions.
Automatic email reminders
Payment advice
Online MTD (Making Tax Digital) due soon
Machine Games Duty (MGD) MGD replaces VAT charged on the income from gaming machines and Amusement Machine Licence Duty (AMLD).
Preparation and completion of MGD return
Submission to HMRC
Automatic email reminder.