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OUR SERVICES
We have experience in the following areas; if what you require is not listed do not worry, we may well have done it or we will know someone who has.
ACCOUNTING AND INFORMATION SYSTEMS
Want to set up a bookkeeping system - to give you management information and to comply with statutory requirements - Inland Revenue or Companies Acts
We can advise on a manual system or more likely the purchase of a suitable accounting program. We are likely to have used the same software. Clients may e-mail us files. It's efficient and enables us to discuss the results without a face to face meeting.
AUDITING
A limited company with a turnover in excess of £1,000,000 requires an audit. An audit is an independent examination of the accounts. We then provide an opinion on whether they show a true and fair view of the results and balance sheet.
Not all accountants can offer this service. We are authorised to carry on audit work by the Institute of Chartered Accountants in England and Wales.
Audits can also be required in other circumstances, regardless of turnover. If you are a charity, club or pension scheme you need to check your constitution or governing rules.
BUSINESS PLANS AND STRUCTURES
There are many factors to consider when you start a business. How much finance; employment of staff; insurance; marketing; what is the correct structure - limited company, partnership or sole proprietor. What are the differing tax regimes? There are so many issues to consider that will impact on the success of the venture.
We can help with the business plan. You should always put your plans on paper. It helps you concentrate on the key aspects that will define your success. Also, it gives you a benchmark to judge your performance. If you are raising finance you will need to have an adequate financial plan. Can you prepare a cash flow forecast and sensitivity analyses on key assumptions? We can.
COMPILING ACCOUNTS
You may be able to maintain the basic accounting records but not have the skills to compile accurate management or annual accounts to include depreciation, accruals and the other finer points of accounting. We have the required skills to complete this for you.
You have to compile annual accounts for the tax authorities and Companies House. The accounts of a limited company have to disclose numerous items. We use checklists to ensure that the statutory obligations imposed on directors are complied with.
INVESTMENTS
As you move through life your circumstances change; when you are young you generally have little money; then maybe you marry and have a family; later on you need to educate your children; and eventually you aim to retire. All these times require financial decisions.
We can help you plan; whether it is advice on savings plans, pensions, life insurance or how to buy and sell investments. We will not manage investments for you but we can offer advice on the general merits of investment matters and the taxation effects of particular courses of action.
Not all accountants can offer this service. We are regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities.
TAXATION COMPLIANCE AND PLANNING
"But in this world nothing is certain but death and taxes". So said Benjamin Franklin. There are many taxes, direct and indirect. Tax legislation is very complex and any transaction may involve two or more taxes. You should seek advice from a qualified tax practitioner before making any business and personal investment decision.
The following list of taxes are those frequently encountered but it is not an exhaustive list:
- Capital gains tax - applies to profits from the sale of investments.
- Corporation tax - is applied to profits of limited companies.
- Income tax - is payable by individuals on their total worldwide income.
- Inheritance tax - is charged on gifts and the value of a person's estate at death.
- National insurance - is a tax on employees' salaries and the self employed's profits.
- Stamp duty - is levied as a percentage of the value of transactions involving property and shares.
- Value added tax - is a tax added to many business transactions.
We will prepare your tax return and advise you on payments to make. We will do the same for a limited company. It may be that you want us just to compile your VAT return. Even here there are pitfalls for the unwary.
OTHER SERVICES
Here are three more services that we offer.
- Payroll Bureau - we will calculate tax and national insurance deductions and provide payslips and reports
- Company Secretarial - we will assist with keeping minutes and returns to Companies House
- References - we will provide mortgage lenders and landlords a reference on your financial status
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