Being self employed can lead to many opportunities, but when you are self employed you will need to file your annual accounts with HMRC on your tax return. Whether you are in a partnership or trading as a sole trader your accounts will need to be completed accurately and in a timely manner to enable you to review your year. They may also be required for loans of if you need to lease a vehicle or other machinery.
We can prepare these for you from your records or we can carry out the book keeping for you and complete the accounts from our book keeping records. Once the accounts are prepared we will calculate and tax due and complete your tax returns.
We will work with you and tailor our services to your requirements to give you the time to build your business.
If you are self employed either in a partnership or as a sole trader you will need to file a tax return with HMRC each year. We can complete the partnership return and your personal tax return and file these online with HMRC.
We will ensure any allowances you are entitled to are included and calculate your personal tax liability. This calculation can be done from either the accounts we have prepared for you or from your own records.
We will ensure that the return is submitted by the deadline and that you are aware of the tax due and the dates payments will need to be made.
We will work with you to and will take care of the tax requirements ensuring that you have the time to concentrate on your business.
We have a full payroll bureau and can take care of all your payroll needs allowing you to run the business you know, whilst we take care of the business we know.
Payroll can be a daunting task and we can help with all areas of payroll including;
- Setting up a new payroll system
- Calculating the correct tax and national insurance
- Calculating student loan deductions
- Running the payroll system each month
- Calculating statutory payments such as sickness, maternity, paternity and adoption,
- Completing online filing of PAYE end of year returns such as P14’s and P35’s and reporting benefits in kind.
We are able to help you with the completion of your payroll and are on hand to answer any queries you may have.
We are experienced in packages such as SAGE, QuickBooks, Financial Co-ordinator and TAS which allows us to carry out your book keeping for you, allowing you to concentrate on growing your business.
We are able to visit your premises to complete the book keeping or use a remote system to bring the records up to date and you have the financial information you need to run your business.
We are able to tailor our services to your needs, visiting as often as required to ensure your records are up to date and leaving you time to run and grow your business.
We are able to prepare monthly management accounts to enable you to review the business and we will discuss the progress of the business and work with you to develop and improve the results.
Monthly management accounts can be prepared from our book keeping records or from your own in house records and we will review previous trends and work with you to help your business reach its full potential.
Value Added Tax is a complex tax meaning that many returns are incorrect and VAT is being under or over paid.
All businesses, whether limited or not, need to register for VAT if their income exceeds the current threshold and failure to do so can lead to penalties.
We are able to assist in the completion of a VAT registration and then are able to complete VAT returns or check returns completed by you. We are also able to assist in de-registering for VAT if circumstances change and you are no longer required to be VAT registered.
We are on hand to answer any VAT queries you may have.