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If you need advice on the right accounts or payroll software for you, then we can offer the help you are looking for. We can also offer training in the use of some of the leading packages.
In addition, being a fully computerised practice we have a great understanding of many I.T. areas, and knowing our clients the way we do, we are in an excellent position to help them.
For more information about choosing the right accounting software for your business click on the button below to request a call back.
We take the time to explain your accounts to you so that you understand what is going on financially within your business, helping you to plan for the future.
Auto Enrolment is a government scheme put in place to encourage people to save for their retirement through a workplace scheme. All employers need to enrole eligible employees into a pension scheme.
If you already conduct a pension scheme for your employees, you need to make sure it complies with the auto-enrolment programme.
Small businesses can use a standard scheme. However, larger companies with more employees will need to speak with a pension provider to negotiate a deal to make their scheme compatible.
Auto-enrolment is a grey area, but we can help to determine whether it applies to your business or not.
Audit thresholds are aligned with the new qualification as a small company, meaning companies (including LLP’s) are exempt from having a statutory audit if they meet 2 of the 3 following conditions…
A small company, meaning companies (including LLP’s) are exempt from having a statutory audit if they meet 2 of the 3 following conditions…
Most subsidiary companies are also exempt from audit where their parent company guarantees their liabilities.
An audit is required where your turnover exceeds £6.5million or your gross assets exceed £3.26 million or the company is part of a group that exceeds those limits.
We can advise you if you need an audit and if not, you can save on accountancy fees!
However, we aim to deliver hassle-free audits and there are good reasons for having an audit even if you are not required by law to have one…
It also makes it easy for us to handle any VAT inspections.
After you’ve produced the plan, you need to monitor how you are doing against the plan and we can help you with this.
We listen to your issues and provide constructive feedback and ideas. They can be monthly, quarterly or six monthly.
An agreed action plan is formulated from each session that we produce for review of progress at the next business support session.
We can provide business valuation services for unincorporated entities and shares in unquoted companies based in the UK including assistance with dispute resolution and litigation.
So, if you are self-employed and work in the building or construction trade, then you should pay tax under the Construction Industry Scheme (CIS).
Not everyone who works in the construction industry is self-employed. So if you work in the construction industry, you should consider your employment status in the same way as everyone else.
As you can see, bringing clarity to the rules can be a complex matter.
If you are unsure and need a helping hand…
For urgent requests we can also arrange same day formations.
To check the availability of a Limited Company name, you can use the Companies House Information Service. Type in the name you want, select the option for “Company Name Availability Search” and see if it comes up in the list.
There are many factors to consider in deciding if a contractor is caught by the notorious IR35 legislation.
These are often matters of general employment law, and not specific tax legislation. There is an enormous amount of Case Law in this area and the Taxman is not always right. They do not have the final say on whether somebody is caught by IR35 or not. We can argue your case for you.
The cost of employees and employers national insurance if you get it wrong are considerable as well as interest and penalties.
We can review your existing arrangements and give you our opinion on whether it will stand up to attack from the Revenue. We can help draft contracts for services to assist you and advise on how you can maximise your chances.
Request a call back to arrange a free and informal meeting to find out how we can help you and your business.
Although there is no clear-cut answer as to how you decide if you are self-employed or not, the following should be on your checklist
These are often matters of general employment law, and not specific tax legislation. There is an enormous amount of Case Law in this area and HMRC are not always right. HMRC do not have the final say on whether somebody is self-employed or not. We can argue your case and take it before the Tax Commissioners for you.
The cost if you get it wrong is enormous. Not only is there the question of employees and employers national insurance, being classified as an employee also gives rise to all sorts of employment rights such as holiday pay, maternity pay, unfair dismissal etc. The decision has to be made by the employer and if you get it wrong it is going to be very hard to recover the back tax, interest, penalties etc from the worker.
We can review your existing arrangements and give you our opinion on whether it will stand up to attack from the Taxman. We can help advise on contracts for services to assist you and advise on how you can maximise your chances.
If you would like us to supply you with details of an independent financial advisor, please contact us. We can also attend any meetings you may arrange.
However, estate planning is not solely about tax and we adopt a common sense approach, helping you to ensure your own financial needs are met and to avoid “giving away too much too soon”.
You may not be aware of this government initiative to digitise the reporting of Tax but digital reporting and digital tax accounts is a reality.
By the summer of 2022 most VAT-registered businesses will be reporting returns digitally.
Self-employed individuals and landlords with gross annual business or property income above £10,000, will need to follow the rules for MTD for Income Tax from 6 April 2026. The rules will be extended to general partnerships the following year.
The Government is also running a pilot scheme where a limited number of businesses can use the online service for Making Tax Digital for Income Tax.
See: https://www.gov.uk/guidance/sign-up-your-business-for-making-tax-digital-for-income-tax
It is expected corporation tax will not become digital until at least 2026.
If you would like more information or assistance with Making Tax Digital, then please arrange a call back.
Reliable management information allows you to react quickly to changing business needs.
Let us take the strain away from you and let you get on with running and growing the business. Payroll is complicated and has to be done on time and you as the employer are responsible for the mistakes.
Beyond the payroll compliance service, we offer comprehensive advice on all employment tax issues including…
You will never have to worry about calculating statutory sick pay or maternity pay and dealing with student loan deductions ever again!
We can also provide a similar service in respect of a CIS healthcheck for the construction industry.
The result is an agreed ACTION PLAN.
Sometimes it is the facts of the case that are in question but it is also often the legislation itself that is in question. Tax isn’t always black and white and where this is the case we are happy to argue your case in the strongest possible terms.
As a taxpayer you have many rights and we will ensure they are never forgotten by HMRC.
We have the specialist tax knowledge to assist with a wide range of tax disputes.
HMRC now investigates businesses at random as well as for specific reasons. A full investigation is not a pleasant experience for anyone. Without expert defence it is possible to get trampled all over.
If you are selected at random, you need an accountant who knows how HMRC works and thinks and is prepared to fight your case. We make sure that Taxman keeps to their own internal guidelines and don’t over step the mark. We will talk you through the enquiry process and what to expect and support you throughout.
There are various penalties HMRC can seek to impose following an enquiry for undeclared income. As well as having to pay the tax, you can find them seeking penalties up to an amount equal to the tax, so doubling your tax bill. Interest on the late payment of the tax is also part of the arrangement – not a pleasant experience. We can help you minimise these penalties.
Whilst with random investigations anyone can come under enquiry, you can help to avoid the chance of an investigation into your affairs for other reasons. We know the triggers that often give rise to enquiries if not fully explained to HMRC when submitting Returns to them. Every Tax Return or set of accounts we submit to the Taxman goes through an anti-investigation scanning check to identify any areas that may lead to an enquiry before they are submitted without explanation. This really does help to minimise the chances of you being on the wrong end of an enquiry.
With the ever increasing risks of full tax enquiries and investigations, it’s worth considering protecting yourself from the accountancy costs of dealing with it as the amount of work involved is often substantial.
Even if HMRC finds nothing as a result of any investigation, you will still have unexpected professional fees to pay as a result.
We try to do more than just this and are interested in maximising your tax planning opportunities.
We all have to pay our taxes but within the legal framework there are numerous ways of saving tax and making sure you do not pay a penny more than is absolutely necessary. We have extensive experience in this area of work and always fight as hard as we can for our clients.
All backup records are retained for the appropriate period of time.
Dealing with all correspondence from HMRC, taking the worry away from you.
We can deal with all trust accounting and tax matters on your behalf.
If you are not sure where you stand with VAT, then assistance is at hand!
Investigations by the VATman can be intense – all the more important that your VAT returns are completed correctly.
We complete VAT returns in good time to ensure you avoid any penalties.
Let us know how we can help you!
See how we can help you today…
Investigations from the VATman can be intense – all the more important that you have an accountant who is successful in negotiations with them.
We take best advantage of the reliefs available and the interpretation of the regulations. This is an extremely important feature of the service provided as it ensures peace of mind for all our clients.
If you are still unsure, then the easiest way we can help you is for your to…