Accounts

Want peace of mind & on-going financial advice?

We offer the ideal accountancy service for the selfemployed. Leaving the accountancy formalities to us allows you to concentrate on running your business.

Getting Started Together

• So we all know where we are, we issue a written quotation before we start any work
• We'll happily provide advice and information on your bookkeeping to make life as simple as possible for both of us ... or we'll do the whole job for you!
• If new to self-employment we take time, without charge, to answer all your queries and ensure you are properly registered with HM Revenue & Customs and National Insurance Contributions Office
• We discuss whether your business should register for VAT. If registration is required, we'll arrange that
• Working from your books & records we compile draft accounts for discussion with you at a finalisation meeting
• Provide appropriate tax planning ideas on a pro-active basis. Incorporate such issues as Inheritance Tax Planning, Capital Gains Tax relief and many more tax related options

Business Help

• We'll supply comparative data on your trade enabling you to measure the performance of your business
• Review gross profit margins and if they are too low, we'll make recommendations
• Advice on tax allowances on different equipment as well as finance e.g. buy, lease or rent
• Which business expenses qualify for tax relief and which do not
• Related issues for clients who hire freelancers e.g. are they employed or selfemployed
• Reconcile your bank deposits with your accounting records
• General business advice & guidance
• Construction Industry Scheme; advice and assistance

Personal Advice

• Tax saving opportunities
• Most tax efficient way to purchase property
• Advice on pensions and other investments
• Social benefits e.g. pension, working families tax credits, sickness benefit
• National Insurance contributions guidance; manage any arrears concerns
• We provide you with references for mortgages lenders, landlords, trade etc

VAT

• Guidance on VAT registration, the opportunities and the pitfalls
• On-going advice if you are VAT registered
• Monitor your business against the VAT limit & advise you accordingly
• Prepare VAT return for submission, if required

HM Revenue & Customs

• Provide a check list of documents required for us to complete your new Tax Return
• Handle all your tax affairs directly with HM Revenue & Customs
• We'll check and report on your prior year's Tax Return
• Chase any prior year refund due to you from HM Revenue & Customs
• We prepare provisional tax liabilities based on draft accounts to plan future cashflow
• Advise you of any tax payments due from you under self-assessment
• Study and explain your tax position in order to maximise your allowances
• Complete your current year Tax Return
• Send your Tax Return to HM Revenue & Customs
• Ensure that HM Revenue & Customs correctly process your Tax Return, deal with it if they don't ... keeping you informed accordingly
• Chase any refund due to you from HM Revenue & Customs; we can normally arrange this within days of submission
• If you prefer, we'll send your payments on to HM Revenue & Customs for you
• Explain tax payment options if your payment is late
• Reduce interim payments if appropriate On-going all year care

Reminders

• When books, records, payments & deadlines become due to prevent late submission
• Due dates for income tax and NIC payments to avoid interest charges & penalties