Our accounting and tax services
Services for limited companies
Our accounting, tax, VAT and compliance services allow you to maximise your earnings and minimise your tax liabilities.
Services for individuals / partnerships
We can prepare your accounts, take care of VAT and file your self-assessment tax returns.
Services for limited companies
ACCOUNTS
preparation
Companies must file their annual accounts at Companies House no later than 9 months after their year end date, along with a company tax return which is filed with HMRC.
We work with you year round to make sure your bookkeeping is robust, ideally by supporting you with a software package such as QuickBooks.
Once the year end has passed we work with your records to produce an accurate set of accounts. These form the basis of the year end face-to-face meeting that all clients are invited to - a chance to discuss the past year's results and consider the year ahead.
We can also prepare monthly or quarterly management accounts. These are useful if you want to manage cashflow more proactively for example, or understand how your business is progressing.
TAX
considerations
The company's CT600 corporation tax return is due annually alongside the accounts and we advise, as a matter of course, how to maximise the tax position of not only the company, but of the shareholders and directors of the company.
You will want to know that you are not paying more tax than you need to. The work we do always encompasses this ethos.
The world of tax complexities is vast, but we deal with capital allowances on asset purchases, loss claims, employee taxes, tax on incorporation and capital gains tax to name but a few.
If you need help with VAT, please contact us as we can advise in this area, including the various VAT schemes that are available.
drawings planning
Directors generally want to know how to structure drawings from their company in the most tax efficient way.
We advise on remuneration strategies and we can operate a directors' payroll scheme for you if necessary.
As a company director you may also want to know what expenses you can claim, advice on company pension contributions, whether you can pay dividends or how your director's loan account works.
We cover all this in the annual review and we pull everything together in the directors' personal tax return which is required to be submitted to HMRC by 31 January.
Services for individuals / partnerships
BOOKKEEPING
services
Whether you are new to business or so busy that you can't keep up with the numbers, you can outsource your bookkeeping to us in the knowledge it will be done right.
Software training can be provided if you are happy to do the books yourself. This takes place at the office in Greetland, Halifax or your office if preferred.
We are an accredited QuickBooks Proadvisor and Dext (receipt capture software) partner.
The benefits to having accurate records vastly outweigh the costs, not to mention the legal requirement to have them.
Many businesses believe (incorrectly) that is unaffordable to get a firm of Chartered Accountants to do their books. However, our pricing is fixed, clear and we can tailor it to your specific needs.
VAT
accounting
Is is now mandatory for VAT registered businesses to submit their VAT returns via software, under the MTD (Making Tax Digital) strategy.
If your taxable turnover is over £90,000 you must register for VAT. We can advise on whether you should consider registering voluntarily even if your turnover is lower than this level.
You may want a check of your VAT entries every quarter to make sure the figures are accurate, we can do this for you.
It may be that one of the VAT schemes such as flat rate, or cash accounting is best for you - we can do the calculations and advise.
We will complete and submit your VAT returns accurately and on time, letting you know what you need to pay and by when.
returns
There are many reasons why you may need to submit a self-assessment tax return.
These include:-
- being a director of a limited company
- having self employment income
- being in a partnership
- realising a capital gain through selling an asset
- having rental income
- having taxable income of more than £150,000.
We will prepare your tax return diligently, explaining it in full before submitting it on your behalf to HM Revenue and Customs.
We will tell you what tax you have to pay and by when and deal with HMRC directly if necessary.