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We take great pride in knowing our clients, and, over time working closely with our clients, we gain an in-depth knowledge of the each client and their business. We always provide a bespoke service to each of our clients, matched to their needs and requirements.
Whether you are an individual looking for financial dispute resolution or a business in need of support for company house filing, we’re here to help!
As a full member of the Institute of Chartered Accountants in England and Wales, we offer the following services:
All businesses have to adhere to certain statutory requirements in the running of the business. Our compliance consultants can assist in a variety of ways depending on your business type.
It is a requirement of the Companies Act hat every company should keep proper accounting records. Similarly, every business registered for VAT has to keep its records according to the guidelines laid down by HM Revenue and Customs (HMRC). HMRC requires every business, no matter what its structure, to keep proper records for the calculation of tax liabilities. In some types of business, there are additional records which have to be kept to satisfy government requirements. If your records are inadequate in any of these areas, you could fall foul of the law.
Every limited company and LLP is required to file annual accounts with Companies House laid out in a certain way and disclosing information specified by the Companies Act. We offer professional accountancy services to make sure you comply.
We can relieve you and your business of a significant burden by taking on all your bookkeeping and accounting needs, using our in-house bookkeeping bureau. Each business is treated individually and we tailor our approach to your requirements. As part of the bookkeeping service, we will complete your VAT returns, prepare payroll and any ad hoc projects.
Running your own payroll can be time consuming, costly and complicated, with substantial penalties being levied for non-compliance with legislation. We can prepare your payroll including payslips, administration of all deductions, and the completion of all statutory forms.
We know that successful businesses are built by complete planning, from inception to exit. For this reason we have introduced our complete business planning system.
A business usually starts with a great idea. Most entrepreneurs however do not put these ideas into practice as the financial, legislative and administrative factors which go hand-in-hand with running a business are daunting. This is where we help with:
Here we discuss the past performance of your business compared to your plans by finding out:
The business environment is becoming more competitive and more open, and this is also true of the sources of finance available. We can assist in finding the most suitable types of finance for your needs and the most competitive prices, through bank loans, Government assistance, venture capital, private investors or foundations.
When seeking a bank overdraft or loan, or applying for certain types of government aid, or when you want to attract new investors or partners, you will need to present a convincing picture of your business’s financial condition and future prospects. We know what information is required and how it should be presented to have the best chance of success.
Different financing methods may affect your tax position in different ways. We will consider the tax implications of any new financing options.
We know that successful businesses are built by complete planning, from inception to exit. For this reason we have introduced our complete business planning system.
Sometimes an entire business is purchased as a going concern or its assets are bought. Even a company’s accumulated tax losses can be valuable. The difficulty in purchasing a business is knowing how much to pay since there is rarely a market comparison available. Even where a public company is concerned, the quoted share price may not reflect the real worth of the business. Thus, it is usually necessary to get expert advice on valuation. As chartered accountants we can help to assess the value and can also assist in negotiating the deal.
At some stage you may wish to sell part or the whole of your own business. You will have to put a value on the business and, of course, find a suitable buyer. Here again, we can help by assessing the value of goodwill and assets and, perhaps, by introducing potential purchasers. In order to maximise the sales value, it is important to plan a considerable time ahead. We have a vast experience in this area.
Merging with another business can involve complicated financial negotiation. There may be a transfer of shares or a cash adjustment between the parties and there will probably be a lengthy legal agreement which will need examination from a financial viewpoint. The tax and accounting calculations can sometimes be extremely complex and usually require expert knowledge.
Sometimes a company or part of a business is sold to its own workforce, perhaps as a result of divestment by the parent company or to avoid closure. The raising of finance for a ‘management buyout’ may involve complicated loan arrangements between the company and the new shareholders. The tax implications need careful appraisal too.
We have had over 40 years experience in legally reducing taxation liabilities of both small and large businesses and have an enviable reputation in this field. Invariably you will be paying too much tax and national insurance and the savings to be made by legitimate planning and use of the legislation will save you substantial sums over your lifetime. A discussion to assess this will cost you nothing.
The dates chosen for starting or ending a business and for its accounting year end can make an important difference to the tax position and cash flow. Similarly, the timing of important transactions or purchases of capital equipment can have a significant effect.
Most expenses of running a business are tax deductible but there are exceptions. The capital cost of most business assets is allowable, although in this case the deductions are spread over a period of years.
The tax implications should always be considered when investing in new equipment, buying a new car or undertaking any other major expenditure. Depending on circumstances, the best approach might be outright purchase, loan finance, hire purchase or leasing contract.
Deciding whether to trade as a sole trader or limited company will have tax implications which should be considered before a decision is taken. Dividing a company’s operations into subsidiary companies or branches may provide tax advantages, as may the formation of a company by a sole trader whose business is expanding rapidly.
Filling in tax forms can be complicated unless you know how to go about it. Whatever the tax assessment involved – Income tax, corporation tax, VAT or some other tax – we can help.
Where there is a dispute over a tax liability, we can handle the negotiations with HMRC on your behalf.
Some businesses have trouble sorting out transactions which are VATable and those which are exempt or zero-rated. There may be problems of definition which have to be agreed with HMRC.
A tax liability may depend on the taxable value of a benefit received or an asset transferred. In such cases, our professional opinion can help you to agree a value with the tax authorities.
If too much tax has been paid in the past, it may be reclaimed in certain circumstances. Examples of overpayments include incorrect PAYE coding, the omission of allowable expenses from a tax return, or refunds because of the higher personal allowance available to pensioners.
Since April 1997 HMRC has issued self-assessment tax returns for taxpayers to report their income and allowances for the previous tax year. Personal taxation is no longer driven by an assessment raised by the Revenue. Instead, it is the individual who must make their own assessment. We can help you to understand these income tax rules and make sure you are fully aware of the timing of payments due. We will prepare the necessary computations and submit these for you.
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