Services

Starting up in business is a large step from standard employment. Successful start-ups require much more than a saleable product or service, they require a sound financial foundation for their business to run and more importantly for their business to grow.

We provide support for the many start-ups who may not have experience with the legal, financial and fiscal aspects of operating as a business. We will help you take your business idea and turn it into a viable, profitable business model.

We work with you to understand your business, tailoring our services to suit your exact requirements, ensuring you receive the maximum benefits from the assistance we provide.

We will help you:

• Choose most suitable structure for your business ‐ Should you form a Limited Company, set up a Partnership or operate as a Sole Trader?
• Create a business plan ‐ Provide you with guidance on your Sales Projections, Operating Budgets and Cash-flow?
• Allocate or help you source the financial requirements for the business to commence trading.
• Set up a good working relationship with your Bank.
• Complete registration with Companies House and HM Revenue and Customs
• Deal with company secretarial issues
• Establish internal systems and processes for complying with statutory requirements as a trading entity.

You can out-source internal financial projects such as Financial Viability Assessments to us and take advantage of our experience, freeing up your staff to continue with their core activities.

We will help you with all aspects of your businesses financial responsibilities, ranging from company formation to audited financial statements.

We describe in this brochure each aspect of your business you may need and the service we can provide for you.

Are you complying with the Companies Act? Are you aware of what compliance involves?

As a business owner you will be busy with the day-to-day running of your business, it's unlikely you have the spare-time required to remain up-to-date with the frequently changing company legislation.

We relieve you of this burden by taking care of your company secretarial duties for you. We keep on top of company legislation, and how any changes to the legislation affect you, your company and your fellow directors.

This includes:

• Formation of your Company.
• Compilation and filing of Statutory Returns.
• Preparation of all documentation related to minutes and resolutions.
• Maintenance of statutory books.
• General guidance and advice on company legislation.

Managing bookkeeping and accounting in-house can be an overwhelming task. Let us relieve the workload from your internal staff by taking over all of your bookkeeping, accounting and annual accounts preparation. This meaning that we enter and maintain your books for you. This gives you more time to spend working on your business.

• We do all the processing;
• We can then easily prepare for you...
  • Management Accounts;
  • VAT Returns;
  • Key Performance Indicators;
  • Estimated Tax Liabilities as you go along so there's no end of year surprises.
• You receive all the information we've agreed to provide you with.

Payroll is very important aspect of your business. However managing Payroll is a time-consuming activity that requires up-to-date knowledge of taxation and employment legislation.

From April 2013, employers were required to start sending PAYE information to HMRC in real time, a process known as Real Time Information (RTI) reporting. This means it must be sent on or before the date the payment is made. All employers will be required to send PAYE information in this way from April 2014.

Pension Auto-enrolment is the new law in which every employer must automatically enrol their workers into a qualifying workplace pension scheme if they meet a certain criteria. They will then need to make deductions from their qualifying earnings and also make a contribution themselves. Auto-enrolment affects every employer in the UK and is compulsory from their staging date.

Each and EVERY business has a ‘staging date' for them to start to enrol their employees into a workplace pension scheme. From the ‘staging date' all employees are automatically enrolled. They'll make contributions into their retirement pot from their pay for as long as they're employed or until it's time to take their money out.

Workers and employers can both contribute into the government scheme NEST (National Employment Savings Trust) to build a retirement pot that's invested on behalf of the worker. Workers who earn over a certain amount are entitled to a minimum contribution into their pot when they're paid.

We can relieve you of the burden of Payroll management and Auto-enrolment. Our experienced team take care of all aspects of Payroll management and Auto-enrolment, providing you with a comprehensive, confidential service covering:

• Setting up PAYE scheme
• PAYE & National Insurance Contributions
• Statutory Sick Pay, Maternity Pay Etc.
• Completion of statutory forms, RTI and Year End
• Analysis and Advice regarding employee costs, incentive schemes, bonuses, and termination payments
• Advice and Administration of Pension Schemes and auto-enrolment
• P11D and P9D benefit and expenses returns
• Completion monthly CIS returns
• Auto-enrolment advice, set up and administration

We will prepare your Management Accounts for you, this is the single most important financial aspect of your business – it is as vital to your business as the day-to-day operations. As part of this service we provide you with important advice, and supporting information on a regular basis to ensure your Management Accounts remain in order.

Some businesses will require management accounts to be prepared on a monthly or quarterly basis for the purposes of providing information to your bank to support a borrowing facility. But it can also help you know what is going on in your business sooner than waiting for your year end accounts to help your business respond faster to changes happening within the business.

We can produce management information in various ways and styles, including identifying and measuring underlying drivers that run the business.

We can either prepare management accounts from the bookkeeping we do for you or by taking your books and making corrections and putting in the all-important accruals and prepayments which are often only recognised by people with an accountancy background.

Preparing financial statements for your business is a statutory requirement for all Limited Companies.

Whether you are a sole trader, partnership or limited company, we can prepare for you a full set of annual accounts to meet your statutory requirements with H M Revenue & Customs and Companies House for limited companies.

We will discuss these annual accounts with you in order to:

• Evaluate your company performance during the year
• Compare results to last year and see where improvements can be made
• Advise you of potential tax liabilities and strategies to minimise them
• E-Filing your accounts at Companies House
• Tagging and e-Filing your accounts in the required iXRBL format required by HMRC

As the Tax regime becomes more and more complex, greater emphasis is being put upon the taxpayers' individual responsibilities. If you are subject to taxation we provide you with professional support and advice to help you optimise your tax position while complying with current taxation requirements.

We help you take advantage of any potential tax saving opportunities, ensuring minimal loss of capital gains through regular personal tax planning reviews.

We provide continued support and advice on all aspects of Tax Planning including:

• Capital Gains Tax
• Income Tax
• Trusts & Estate Taxation
• Inheritance Tax

Understanding and complying with VAT can be one of the most complicated, time-consuming financial aspects of running your business.

The VAT system is one of the most complex and convoluted financial systems a business has to comply with, so complex that many businesses often overpay or underpay VAT due to a lack of full understanding.

Like many financial requirements, the legislation and scope change frequently and keeping on top of current practises is almost impossible for many business owners.

By taking advantage of our expertise in this area, your business can benefit from staying up-to-date with current legislation ensuring you are not paying the Exchequer more than you need to.

We will help you stay on top of your VAT requirements by providing the following support and advice:

• We will help you with VAT registration.
• We will provide advice on Administration & Planning
• We will help you establish systems for VAT control and Reconciliation
• We will complete your VAT returns and file electronically
• Provide you with forecasts of any potential future problems with proposed HM Revenue & Customs Legislation

It can be difficult to understand the mechanics of the current Self-Assessment System. Failure to meet the deadline for Self Assessment can result in a £100 penalty. Further penalties should the assessment remain outstanding. By taking advantage of our Self Assessment service, you can be assured that your tax return is being completed in time and inline with current legal requirements.

We carry out all of the calculations required, and can even provide you with advice and guidance on reducing the amount of tax you may be paying over the coming years.

• We will help you collating expenses and receipts
• Advise on liabilities, refunds and payments on account
• We will complete your Self -Assessment tax return and file electronically