Accounting services

 

Annual accounts

Preparing annual accounts is a requirement for every business to satisfy statutory obligations to HM Revenue & Customs and Companies House. Accountants can assist with this.  

Every business has a statutory obligation to produce accounts annually for the relevant establishments, typically HM Revenue & Customs and Companies House.  This is where accountants come in. ***** revisit all text ******

Keeping tax liability to a minimum is one of your accountants’ primary objectives, along with ensuring accounts are compliant with all the right statutory regulations.

We promise to achieve a complete understanding of your business, to allow us to provide the very best advice and recommendations tailored to your individual requirements. Accounts preparation itself offers comprehensive insight into your business operations, helping focus on both short-term and long-term business objectives and goals.  When explaining your accounts clearly, you gain an understanding of your financial activities, to aid future business planning and growth.

Bookkeeping

Some businesses prefer to undertake their regular bookkeeping themselves, but why not make things simpler and easier and allow us to do it all for you?  This will free up your time to run your business with peace of mind that your accounts are well looked after.   **** UPDATE ***

If we manage your books, we can help you reduce your year-end accountancy costs, make VAT inspections less of a concern and handle any tax enquiries through ensuring your book-keeping accurately reflects business activities.  We can provide appropriate management information to help you run the business, and we can complete your VAT returns easily too.

We Offer Training

We can also provide training to allow you to manage your books independently if preferred, and we’ll show you the most suitable way for your business

Management Accounts

Management accounts can help track how a business is performing, and highlighting areas that may need adjusting to make them more cost efficient or profitable. We understand that it’s a business cost to uptake a dedicated finance service, which is why we can prepare management accounts on a monthly or quarterly basis and in the most efficient and cost-effective way. *** UPDATE ***

As an alternative, we can also design and implement systems into your business to allow you to produce your own regular management accounts.

If you are unfamiliar with accounting, we can help you to understand and get the best out of your management accounts, so you’ll have your finger on the pulse and respond faster to changes happening within your business, as they happen, rather than waiting until year end.

We can provide management information in a variety of formats, including measuring or identifying underlying fundamentals that are the key drivers within your business.

You can be assured that when we prepare management accounts from the bookkeeping we do for you or by taking your books and making corrections and putting in all important accruals and prepayments, its completed efficiently and to the highest standard, something that accountants with years of experience get right first time, every time.

We explain and discuss figures at every step of the process to allow complete transparency and understanding of how they’re calculated and what they mean.  We use a detailed, thorough approach as we want you to understand the financial side of your business completely.  With this knowledge, this will allow you to plan and develop your business further.

We can structure our reporting to advise on the following factors:

  • Branch/Divisional results
  • Actual performance compared to budget and/or comparative periods
  • Costing information, including break-even turnover levels

Payroll and end of year returns

Once you take on employees, this opens up an additional responsibility for payroll. This process can be complicated and must be done right.  It must be completed on time and correctly, and the potential red tape involved can be daunting and confusing. *** UPDATE ***

We can take all this on for you, We run payroll the right way and on time.  We provide a tailor-made service for your business, which includes

  • Employee payslips
  • Monthly summaries
  • Departmental reports
  • Completion of P45’s for leavers
  • PAYE returns for the Revenue
  • Assistance with automated payment set-up to your employees
  • CIS returns
  • We can then produce at a reduced cost year-end PAYE returns including P35, P60’S & P11D’s.

We can produce the end of year returns from your own records and assist with correct completion of P11D’s for employee’s expenses and benefits.

We calculate statutory sick pay or maternity pay and deal with student loan deductions too.  We offer comprehensive advice on employment tax issues, anything from planning tax efficient remuneration strategies to planning for retirement.

Whether considering inducement payments or termination payments, the tax issues are often fundamental to the decisions involved. When recruiting new employees, a tax efficient remuneration structure can be significant in today’s competitive market.