Accounts Production

We will prepare your annual accounts from your source books or records.

If your business is a sole trader or partnership these accounts will form the basis of your tax return.

If your business is a limited company we will prepare statutory accounts, which comply with the Companies Act and applicable Accounting Standards. We will also file them on your behalf at Companies House.

The accounts will provide invaluable information about your business performance. To ensure your performance information is current and timely we can produce monthly or quarterly management accounts that are tailored to your business.

Bookkeeping

All businesses are required to keep accurate records. If you supply us with the basic information, we will perform the bookkeeping.

We really do mean basic information - some clients simply bring a carrier bag of invoices to us and we create the bookkeeping records.

If you want to retain control of your bookkeeping we can assist you in setting up a system to suit you. The system need not necessarily be computerised. We can tailor the system to meet the specific needs of the business and the user.

Tax Returns

Allow us to take away the worry of completing your tax return.

We will complete the forms and calculate your final tax liability. We will then advise you on the amounts to be paid and when they are due. With your agreement we will then file your tax return with HM Revenue & Customs.

VAT

If your sales for the last 12 months is in excess of £61,000 you may need advice on registering for VAT. We can assist in registering your business for VAT.

We can prepare the VAT return on your behalf from your accounting records or assist you with their completion.

We can also advise you on the possible benefits of a number of "Special Schemes" that H M Customs and Excise have created to simplify the process for small businesses.

Tax Savings

Tax legislation contains many allowances and reliefs that we use to minimise our client’s tax liabilities.

Each new client is given a ‘tax health check’ often resulting in tax savings!

We are tax experts who can probably save you tax.

Business Start Ups

We have extensive experience in advising new business start-ups and we are proud of being the only accountancy practice in Brighouse that Business Link use as accountancy experts to advise new businesses.

There are a number of decisions to be made at the start of a business, which require expert assistance. Decisions such as the type of business structure - sole trader, partnership or limited company - will affect future profitability, tax savings and risk associated with the business.

We can help you:

• Decide on the most suitable business structure
• Prepare a business plan and cashflow projections
• Assess your finance requirements and advise on the best sources of finance
• Establish a good working relationship with your bank
• Complete registration procedures with Companies House and HM Revenue & Customs
• Set up a bookkeeping system that is tailored to meet the specific needs of your business

We can help you make the right decisions from the outset.

Business Plans

As many as 85 out of every 100 new businesses fail within the first five years often because a good idea was not properly developed or because of difficulties which could have been overcome if the business had planned for them.

We can compile Business Plans from your aspirations for your business. Together we will discover the strengths and weaknesses of your original business idea and help evolve the idea into a workable solution.

We can also convert these plans into cashflow forecasts, as many profitable businesses fail due to cash flow problems. The forecasts will identify periods where additional financing is required or where there is surplus cash which can be invested.

Your plan will become a valuable tool as you set out to raise money for your business. It will also aid decision making and provide milestones to gauge your success as you grow.

Limited Companies

We will produce statutory accounts from your accounting records, which are fully compliant with the Companies Act and accounting standards. We will also produce abbreviated accounts in the correct format to file at Companies House.

Based on the company accounts we will produce the annual corporation tax return. After agreeing the corporation tax liability with you we will file it with HM Revenue & Customs.

We also offer a company secretarial service. This includes filing the company annual return.

Corporation Tax

UK corporation tax is payable on limited company profits and gains. We can calculate your corporation tax liability and submit your corporation tax returns.

Due to recent changes in UK tax legislation, it can be beneficial for sole traders to incorporate their businesses. We will advise you on the advantages and disadvantages of incorporation, including the Companies House requirements and deadlines.

Payroll

Administering your payroll can be time consuming and burdensome, whether you have one or many employees. The task is made all the more difficult by the growing complexity of taxation, employment legislation and the accompanying regime of penalties for non-compliance.

We can relieve you of this burden by providing a comprehensive and confidential payroll service, including:

• Customised payslips
• Calculation and administration of PAYE, national insurance, statutory sick pay, statutory maternity pay, etc.
• Completion of statutory forms, including year-end returns, to issue to your employees and submit to the Inland Revenue
• Summaries and analyses of staff costs

Audit

We are registered by the Association of Chartered Certified Accountants (ACCA) to carry out audit work. Please contact us if you require audit services.

Besides helping you meet the statutory requirements, we also take the opportunity to conduct a review of your financial and management systems. This can often result in our identifying potential problem areas and recommending opportunities to improve your business performance. We discuss the problems and opportunities with you and can help you implement any agreed solutions.

Financial Controls

Do you have sufficient financial controls in place to prevent, or at least inhibit, the misuse or theft of business funds and assets?

Theft aside, money can disappear through improper financial controls even when people are honest.

We will review your current financial controls, identify potential problem areas and recommend opportunities to improve your controls. We discuss the problems and opportunities with you and can help you implement any agreed solutions.

Capital Gains Tax

When an individual or business sells an asset they may be liable to Capital Gains Tax.

If you are considering selling an asset we can advise on the reliefs that may be available and of ways of planning your affairs to reduce any potential tax liabilities.