Small Business Accounting
Enjoy the confidence of knowing that your accounting needs are all handled by an experienced, expert and reliable team. Whether you’re just starting out or an established business, our everyday accounting services give you the confidence that everything is prepared and filed on time.
Needed to fulfil internal board requirements and satisfy external bodies, such as HMRC. For Limited Companies, LLPs and Sole Traders, our accounts preparation services include corporation and personal tax returns, VAT returns and more.
With employees come responsibilites around National Minimum wage, providing payslips, PAYE tax records, handling pensions, statutory leave and benefits. Reduce your admin by letting us handle your payroll and pensions.
Enjoy peace of mind that your company accounts are fully reconciled and all your expenses are correctly recorded as required by HMRC. If your company turnover exceeds the VAT threshold of ÂŁ85,000 we can register you for VAT and file all returns.
From Self Assessment to Corporation Tax Returns, weâll take care of everything so you never miss a deadline or incur a fine. Whatever the size of your business we can give you the support you need.
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Services
Our small business packages take care of all your accounting needs so that you can focus on running your business.
We can help with your accounting, bookkeeping, tax returns and filing with Companies House and HMRC.
Accounting Services
From ÂŁ750 +VAT for Ltd Co pa
From ÂŁ275+ VAT for Sole Traders pa
Ensuring you’ve filed your company acccounts and Corporation Tax correctly is one of the biggest worries for small business owners. Let us handle that for you with:
- Specialist services for Ltd Companies, LLPs, Partnerships and Sole Traders
- Preparing and filing of your annual company accounts at Companies House
- Completing and submitting your Corporation Tax return with HMRC
- Assisting with financial planning, cash flow and management of deadlines
- Ensuring you never incur fines or penalties
Partnerships Tax Return
From ÂŁ200 +VAT pa
When you set up a partnership and get it registered with HMRC, one of you becomes the “nominated partner” with reponsibility to manage the business partnership’s tax returns.
We take care of all necessary paperwork, calculations and submissions to make sure your venture is compliant with HMRC rules and you never incur unnecessary costs or fines.
Bookkeeping
POA
When using our bookkeeping service, you’ll always have peace of mind that your company accounts are fully reconciled and all your expenses are correctly recorded as required by HMRC.
Our Small Business Bookkeeping service includes:
- Accurate data entry of financial information and expense categorisation
- Application of correct VAT to invoices
- Maximising claimable VAT
- Reconciliation of balance sheets (bank, PAYE, VAT controls, etc)
- Use of data capturing software to file invoices and expenses
- Streamlined accounting process
VAT Returns
From ÂŁ100 +VAT pm
If your company turnover exceeds the VAT threshold of ÂŁ85,000 your business needs to be registered to pay VAT and file returns with HMRC. Our VAT Tax returns service includes:
- Registering your company for VAT with HMRC
- Preparing and submitting your VAT returns on an ongoing basis
- Sending you notifications of the amount due as soon as the VAT return has been completed, so that you are always aware of your VAT liabilities
- Carrying out checks on all transactions for the period to ensure that purchase VAT has been claimed correctly
- Ensuring that you are on the best scheme to maximise your cash flow
- Monitoring turnover to ensure you are on the the correct VAT scheme
- Dealing with any queries, enquiries or investigations from HMRC
Management Accounts
From ÂŁ250 +VAT pm
These are the figures you use internally in the day-to-day running of the business, produced in the format and frequency that is most practical for your needs. Our service covers:
- Preparation of your management accounts
- Working with you to define the Key Performance Indicators needed to achieve the success of your business, usually a combination of financial and non-financial measures
- Reporting on. and analysis of, the results to provide insight into the current financial health of your business
- Highlighting anything that will benefit from closer attention
- Working with you to improve the results over time
- Assist with financial planning and strategy direction
Payroll
POA
If youâve got employees then you’ll need to put them on payroll and make sure that you’re compliant with all the rules and regulations from HMRC.
Our payroll service covers:
- Calculating Income Tax, National Insurance & other payments
- Pensions, benefits, sick pay and parental leave
- Payment administration, including new starters, leavers, P46s, holidays, bonuses and commissions
- Filing all paperwork with HMRC, including annual final payroll report
- Producing P45s, P60s, P14s and P35s of all your employees each year
- Registration with HMRC for PAYE and CIS
- CIS returns, payroll support for those within the Construction Industry Scheme
- Remuneration packages for directors
- Expert advice on incentive schemes, salary sacrifice schemes and bonuses
- P11Ds and P11D(b)s and Benefits in Kind
Pension auto enrolment
We can look after pension scheme set-up and management on your behalf, reducing your admin overheads and ensuring that your company is compliant with all legislation, including:
- Assessing employees every pay reference period (e.g. monthly and/or weekly)
- Automatically joining employees to the pension scheme and paying an employer contribution
- Facilitating instructions from employees who wish to opt out of the pension scheme
- Providing a route for employees to opt into the pension scheme
- Re-enrolling employees who have chosen to opt out of the pension scheme every 3 years
- Filing your pension reports with your pension provider
Company Secretarial Service
POA
Company Formation
POA
If you’re ready to start a new business venture, we can help you with company set-up, including:
- Choosing the most appropriate type of company for your needs
- Registration with Companies House
- Setting up a business address
- Helping to set up the ownership of your company, eg shareholders and directors
- Complete your Memorandum of Association
- Articles of Association to outline the directors’ powers, shareholder rights, etc
Business Growth Support
POA
Our business growth advisors can help you build a more profitable business. both now and when you come to sell or retire.
We will help you to:
- Identify and create breakthrough strategies to increase sales, profits and prospects
- Set and achieve your personal and business goals
- Identify and tackle the major challenges facing your business
- Correctly position and price your products and services
- Ensure your business is tax efficient
Research and Development Tax Credits
POA
The R&D Tax Credits Scheme is a government incentive designed to reward businesses for solving problems and sharing their solutions so everyone benefits.
Whenever you invest in a project that qualifies, you can get a cash reward or a reduction in the amount of Corporation Tax you’re paying.
Our expert team of R&D tax specialists provide a complete end-to-end service for preparing R&D tax credit claims, either working with us directly or through your accountant or advisor.
IR35 and Contractors
POA
Whether you’re a contractor yourself or a business that uses contractors, our IR35 experts make sure that you’re filing all the correct paperwork with HMRC and understand what the IR35 legislation means for you or your business.
Our service includes:
- IR35 payroll
- Contract assessment for IR35 compliance
- Management of Ltd Company/Umbrella switching
Business Start Up Support
POA
Our Business Start Up Support programme helps those who have been long-term unemployed to launch their own businesses.
Every participant receives:
- Their own dedicated Business Start-Up Advisor for a year
- Tailored support based on their particular business start-up goals.
- Access to our e-learning platform of resources
- A bank of business start-up mentors who can support with specific projects
- Qualiefed tax specialists who can support with the complexities of HMRC regulations and completion of the participant’s first Self-Assessment tax return.
Doing the things that count
We’re here to provide you with clear, insightful, actionable advice for your business. We believe in showing you value, not just numbers, and we’ll work with you to make sure your business grows in the way you want it to.
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Frequently Asked Questions
If youâre confident in your ability to deal with your business and personal tax situation, itâs possible to prepare and file your accounts with HMRC and Companies House yourself.
If you don’t have the confidence, desire or the time to deal with the complexities, then having an accountant can make sure everything is taken care of correctly while you focus on other aspects of your business or your life.
Self Assessment and company accounts are due every year, regardless of whether a company is active or dormant. Missing them by a single day or making a simple mistake can result in fines, stress and wasted time.
If you aren’t sure if you need an accountant, get in touch and tell us about your situation and we’ll be happy to advise.
Having an accountant frees up your time so you can focus on your business.
They will have spent years becoming qualified in all the complexities of tax rules and regulations and know how to apply them correctly and effectively for your business.
In basic terms, an accountant can handle key functions such as bookkeeping and filing your returns on time.
As your business grows, your accountantâs input will become more significant, covering essential areas like:
- Financial reporting
- Compliance
- Payroll
- Tax efficiency
- Business planning
An accountant can save you money in many areas by increasing tax efficiency, improving cash flow and providing you with the reliable financial information you need to make informed decisions.
Youâll be working closely together, so a personal connection is important. You’ll want to work with someone who understands your situation and your goals and wants to help you acheive them – even if, for now, that’s as simple as getting your Self Assessment filed on time.
Ask about their range of services to make sure they can meet all your needs. See if they have specialist experience for your industry or type of business that will mean they deliver added value.
Accountants will offer different packages, so work out what is right for you. Do you want to pay an accountant monthly for an-all inclusive service? Would you rather pay for what you use “by the hour” or pay a one-off fee for a specific piece of work?
Find out if their working patterns suit your working hours or lifestyle. If you work night shifts, or in a different time zone, and you can only speak to them in person during office hours it’s not going to work well for either party.
Ask about their qualifications and experience. In fact, with a reputable accountant you shouldn’t even have to ask. If they’re qualified through one of the recognised UK professional bodies then you’ll have peace of mind that they will bound to abide by the codes of ethics and conduct of that organisation.