Compliance

All businesses need to prepare accounts at the end of each accounting period, whether they are run as limited companies, partnerships or as an individual’s sole trade. These accounts will need to be made available to the Inland Revenue, to support the tax payable on any profits made in the business. The accounts will also be useful to other groups, however, such as banks and other finance providers. Your suppliers may also wish to see a copy of your accounts, in order to be able to judge your ability to pay for their supplies. If the business is run through the vehicle of a limited company then accounts in a specific format will need to be filed with Companies House.

We can prepare these accounts, in the required formats, from your records. Your records might comprise computerised data, which we can review electronically, or they may be hand written summaries of income and expenses which we can develop into full accounts.

We will also prepare the appropriate income or corporation tax computations based on these accounts, your individual, partnership or corporate tax return, and calculate the tax payable. We will consider any tax planning opportunities arising, and give advice. We have access to tax specialists who can provide more detailed advice where this is considered beneficial. We will deal with the administrative headache of dealing with the Inland Revenue on your behalf.

We can also assist with other areas, such as the preparations of Vat Returns and payroll. We have found that some of our clients would rather deal with these areas themselves, whilst others are glad to outsource these functions, so that they can concentrate on running their business.