Accounts Preparation

Need your Year End Accounts prepared for your Accountant? This process can begin from bringing in a bag of invoices and bank statements or granting me access to a fully reconciled cloud hosted computerised book-keeping data set, or anywhere in between.

Accountants can charge a high premium for sorting your accounts from a bag full of receipts or fixing errors.

Reconciliations

Reconciling an account often means proving or documenting that an account balance is correct. For example, I reconcile the bank balance in your accounts to the balance shown on the bank statement. This ensures that you are not overstating your Income or expenses by duplicating entries, and ensure that what has claimed to have come in and gone out of the company finances is correct.

Reporting

I can provide you with Monthly or quarterly Management Reports which will give you a snap shot of how your business is performing.  These can be customised to your requirements and can be as detailed or as basic as you need.  They do help as a good indication of if you need to register for VAT, for example, or if you have enough capital to invest.  These reports also ensure your Books are as up to date as they can be, which in turn, makes your Year End accounts much easier to produce, therefore lessening the risk of filing Company Tax Returns late and incurring HMRC Fines!

VAT Returns

If your turnover is £85,000 or more per year, you must be VAT Registered.  You must submit a VAT Return to HM Revenue and Customs (HMRC) every 3 months.

The VAT Return records the VAT Element of your Sales and Purchases and determines how much VAT you owe to HMRC

You must submit a VAT Return if you are VAT Registered even if you have no VAT to pay or reclaim.

Payroll & CIS

I can run your Payroll for you and ensure you are paying the correct amount of PAYE, and deal with HMRC on your behalf should any issues arise! I can submit your CIS Returns for your Sub-Contractor Payments, and Verify them to ensure you are paying the correct amount, and ensure the CIS Suffered amount reclaimed is correct and done at the correct time.  I will even produce the CIS Payment Statements for you to forward to your Contractors.  This is essential as HMRC do charge fines for late submissions and payments relating to CIS, RTI Information & PAYE Payments.

Invoicing

Automation is the key when it comes to efficiency and predictable cashflow. 

I can set up all your recurring invoices to be generated and sent out to the clients automatically, with manual or automatic payment via direct debit, PayPal or credit card.

Company Formation Service

Company Types

• UK Limited Company Formation
• Limited by Guarantee Company
• Limited by Shares Company
• Limited Liability Partnership
• Public Limited Company
• Flat Management Company

What is a UK Limited company?

• A legal entity whose liability is limited by shares (Ltd)
• The most common form of privately held company
• It can be registered in England, Wales, Scotland and Northern Ireland

What are the annual requirements?

• A Limited company must file annual tax returns (‘corporation’ tax returns) with HM Revenue and Customs.
• It must also file a Confirmation Statement to Companies House, which is a snapshot of general information about the company.

Fraud Protection Service

Companies House, the UK’s registrar of companies, will happily accept documents submitted via post ‘on good faith’. This means any person can simply complete a form with a fake signature and make changes to your business without your consent or knowledge. This includes:-

• Change your company’s registered office
• Resign current directors and appoint new ones
• File closure documents

Combat company fraud by receiving an email alert whenever a change is made to your business, whether this was with your consent or not.

Any changes made to your company (those mentioned above, and more) will be monitored and you will be sent an email notification whenever any changes are detected. You can then act swiftly to ensure no permanent damage is done.

Document Storage & Archiving

One of the most common areas of confusion for many businesses is how long you need to keep your documents or records.  There are legal requirements from the government to keep certain documents for certain time frames, whether you are a ltd company or a sole trader.

You also need to comply with GDPR requirements when storing these documents.

By using our document archive & storage service in Thanet, you can free up space within the business property while making sure you comply with regulations around document storage.  

You can then easily access the documents if there is a query or request from HMRC.