Helping Your Business to Succeed

Accounts and Self Assessment

Tax Returns

You are required to complete a self assessment tax return if you are self-employed as a ‘sole trader’ with an income greater than £1,000, a partner in a business partnership or you have any other untaxed income, such as rental income, income from savings, investments and dividends or foreign income. The preparation of a tax return can be a complex and stressful experience for the taxpayer, I can save you time, worry, and money by preparing your tax return for you. I will prepare the necessary computations, submit your tax return to HM Revenue and Customs and offer you advice on how you can minimise your tax liability.

I have experience in preparing sole trader accounts and tax returns for a range of different business types. I can ensure that your end of year accounts are prepared accurately and that you are claiming tax relief correctly. I will always prepare your accounts soon after your year end has passed so that your businesses annual performance is made available to you as soon as possible.

Bookkeeping 

It is important to ensure that your financial records are maintained on a regular basis so that you can accurately monitor your businesses performance. Many business owners simply do not have the time for paperwork and it is easy to fall behind. I can help with this administration burden by offering either a monthly or quarterly bookkeeping service. If you have a seasonal business I am happy to step in and take away the pressure during busy periods. I am happy to help you as much or as little as you need, I can even step in and review any work you have undertaken yourself to ensure that it is accurate and correct. I have experience in using many different types of accounting software and I am also happy to work alongside your existing accountant if required. Using the services of a bookkeeper has a number of advantages, not only does it mean you can use your own time more efficiently but you will also see a reduction in your annual accounts fee if you have tidy, accurate financial records.

VAT - Making Tax Digital

I can offer advice regarding your businesses VAT registration and the type of VAT scheme most suited to your business needs. In addition to this I can help with the preparation of your VAT return ensuring that you are accurately recording your output tax as well as maximising your claim for input VAT. VAT can be quite complex and business owners are often unsure about what they can and can't claim input VAT on, I can take this stress and worry away. I can also submit your VAT return directly to HM Revenue and Customs on your behalf ensuring you don't miss any important VAT reporting deadlines. 

If your business is VAT registered and has a taxable turnover above the £85,000 threshold I can also ensure that your business is using software that is compliant with Making Tax Digital.

Management Accounts

Many businesses wait for their annual accounts to be prepared before they have any indication of their businesses performance. This means that business owners are often looking at historic data and it can be some time before actual profits or losses are identified. I can prepare quarterly or monthly management accounts which consist of a profit and loss account and a balance sheet that will give you an indication of how well your business is performing. This proactive service will enable you to identify any problem errors that you might not have been expecting as well as tax planning opportunities if your business is performing better than you were expecting. This will help you to avoid any unexpected tax liabilities!

Payroll

The preparation of the payroll is an important function for any business and getting it wrong can affect employee morale. I can offer a full payroll processing service which includes providing you with payslips for your employees, payroll summaries, notifying you of your PAYE liabilities and ensuring the relevant data is submitted to HM Revenue and Customs in order to ensure compliance with the Real Time Information legislation.

CIS Returns

Contractors are required to submit CIS (Construction Industry Scheme) returns to HM Revenue and Customs on a monthly basis and are faced with a late filing penalty of £100 for every late return which can become very costly. I have worked with contractors for a number of years, I can help business owners working in the construction industry reduce this monthly administration burden by offering a full CIS service which includes verifying your subcontractors, submitting your CIS return to HM Revenue and Customs on your behalf and providing you with payment and deduction statements for you to pass on to your subcontractors.