Let us become your Bookkeeper or give you advice on setting up a bookkeeping system of your own. We could keep records of all of your receipts and payments and reconcile your bank statement balances with your records. We could maintain your sales and purchase ledgers.
Management accounts can help you make timely and meaningful management decisions about your business. There is no legal requirement to prepare management accounts, but it is hard to run a business effectively without them. Most companies produce them regularly - e.g. monthly or quarterly.
VAT is a tax that's charged on most goods and services that VAT-registered businesses provide in the UK. It's also charged on goods and some services that are imported from countries outside the European Union (EU), and brought into the UK from other EU countries.
Self Assessment (Tax Returns)
The self-assessment system for collecting income tax was introduced in 1997 and shifts the responsibility for declaring income on the taxpayer's shoulders. There are strict deadlines you must meet to send back your tax return and pay tax owing. Missing them means incurring interest and penalties.
Company Secretarial Services
Payroll refers to the records – paper or electronic – and calculations that you make to work out your employees' pay and deductions under the PAYE (Pay As You Earn) system. Should you offer employment within your business to another individual it is highly likely you will require a payroll scheme.
By law, every company must have a registered office since it is the company's address for formal communications. We could act both as your Registered Office and your Company Secretarial Service or alternatively we could give advice should you decide to appoint an internal Company Secretary.
All businesses are required to produce financial accounts at their year end, for unincorporated businesses this is necessary to comply with HMRC self assessment requirements. For Corporate bodies (e.g. Limited companies) the financial accounts are required to be filed at Companies House and HMRC.
If your company or organisation is based in the UK, you'll have to pay Corporation Tax on all your taxable profits - wherever in the world those profits come from. If your company isn't based in the UK but operates in the UK - for example, through an office or branch (known to HM Revenue & Customs (HMRC) as a permanent establishment') - you'll only have to pay Corporation Tax on any taxable profits arising from your UK activities.