Company

COMPANY

Limited company concept was first introduced in 1600 under the royal charter.

A limited company is primarily an incorporated platform which facilitates to run a business under specific company rules. A company itself is responsible for all its operations owns all its income, expenses, assets and liabilities in its own right without any connection to its directors. After paying corporation tax on its profits it can then share the remaining profit with its shareholders.

A private or a family company owners are by law liable for its debts but only equivalent to the amount of capital they invested and their personal assets are considered completely distinct from company finances. A company can be limited by guarantee or limited by share.

Company law has greatly evolved over times in terms of corporate obligations, responsibilities and statutory reporting requirements. The law confers certain duties upon company director and/or shareholder to conduct the company operations. Such as:

  • File Company accounts with HMRC and companies house
  • Tax computations and payment of Corporation tax
  • Keep record of all transaction according to the accepted accountancy practices
  • Ensure statutory accounts are “true and fair view” of its company operations
  • Maintain company register and report all changes to Authorities
  • Conduct company operation as per articles of association
  • Exercise skill & judgement in guarding shareholder’s interests
We can provide support to make sure your company meets all of the required administrational obligations and complies with the companies’ law.

Here at Accounttax, we understand that according to the strict businesses house terms and conditions, start-up of a new business must be completed. We know how to deal with all of these important requirements for you, so that if you have a startup business, just get ready to create a bank account and start trading without any stress.

Quick and easy company secretary services include registering your company name with Companies House, providing the Certificate of Incorporation, Memorandum and Articles of Association, share certificates and registering for PAYE and VAT.More

Solid advice and support is essential to improve your tax position. There are many mind-numbing issues around corporation tax all of which will halt your ability to move your business forward.

While dealing with the routine business taxation matters, regular strategic tax reviews and sensible corporate tax planning by identifying the tax opportunities specific to your business sector can result in lesser tax bill and potentially significant improvements in your bottom line profit.
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Business is about knowing your figures and keeping the books may not be the most interesting of tasks, but it is imperative to have the snapshot of your business at any given time.

Book Keeping is sometimes considered a laborious job. We understand your business has its own needs and your book keeping administration will be different to others. We tailor our service to suit you and take the time to understand your business processes, advise if they can be streamlined and provide any ideas to help make your book keeping easier; whilst still achieving the information you require. We would be delighted to support your business and believe no job is too big or too small from simple record keeping to management accounts.
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Are you responsible for Payroll? If you are, you will know that its accurate handling is of prime importance in terms of being proactive with its ever-changing dynamics but also to avoid any related costs or penalties that may follow if not dealt with properly.

Your employees expect their pay on time and taxes must be precise. Payroll takes a meticulous mind and tax details change often, which can make payroll demanding on your time. Especially the introduction of Real Time Information for the processing of payrolls has been a cause of extra complexity and compliance.
Businesses also need to provide work place pension opportunities to their staff by enrolling on Auto Enrolment Pension Scheme. They usually not fully prepared or do not have enough time and resources to tackle with this added compliance issue.
Accounttax can remove this stress and handle your payroll allowing you to focus on taking your business forward.

Our services are tailored to your needs and suitable for any business regardless of headcount. We can support your current requirements or remove the payroll burden completely whether your payroll is run weekly or monthly.
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Vat is one of the most complex areas of tax regime where constantly changing rules or an occasional oversight can cost business huge tax bills and extra paperwork.

Vat rules are very specific for each business category and small businesses usually find it daunting to familiarise themselves with specific vat issues, such as

  • VAT Categories
  • Business and non-business supplies
  • Partial Exemptions
  • Reclaiming VAT
  • Rules for invoices
  • VAT on income
  • Tax points
  • Trading with EU countries
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Businesses sometime may Have multiple income streams from local or foreign sources such as investments, trade, capital gains, rentals, savings, requiring careful tax planning using all available tools to make a significant difference to your tax liability.

Tax Planning is very important and helps keep control of your finances. We are finding tax is increasing in terms of complexity and responsibility has been imposed on the taxpayer. Professional advice and support is essential to improve your tax position.

Our team will support and advise you with the management on all your all tax related areas. We will plan the available options with you which will allow you to take full control of your financial situation.

We look to help you save tax by making sure you are utilising all available options to you.

Accounttax offer a wide range of accounting and taxation services to our clients, such as:
  • Income tax
  • Capital gains tax
  • Inheritance tax
  • Trusts and estates
  • Non-domiciliary tax issues

Our support will provide you full control of your finances, save money and help plan ahead. Essentially, ensuring you are doing the best for your business.

There are many ways in which profits can be withdrawn from a business, each with their own tax ramifications. Accounttax are aware tax rules can change over time so the strategies that have worked for you in the past may not be best suited to you in the present.

The hustle and bustle of trying to keep your business alive and growing, can make it difficult to find time to consider what the best way to take the profits out of your company.

With there being several options available, Accounttax will advise you on those that suit you best. You may consider taking dividends instead of a salary, although they have undergone big changes in recently. We will explain to you the differences between salaries and dividends, such as; the latter can only be paid out of profits while you can continue to draw a salary during a loss-making period.
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Your businesses success relies upon knowing your figures.

Continuous monitoring and control of the businesses financial performance is absolute. Keeping your eye on the ball and regular management information will be vital to its success. We believe every company has different requirements and work closely with businesses of all shapes and sizes, across many industries.

Implementing strong financial controls is crucial for the success of any company.

We will support you by producing either monthly or quarterly management accounts. We will spend quality time with you, review your requirements and provide you with bespoke information and constructive advice for managing resources, funds and help implement systems which will support and manage your growth.

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It is vital to you and your business to consider and prepare routine financial projections and cash flow forecasts. Financial forecasts aren’t just for large multinational corporations; these projections can provide invaluable information as to the future financial position of your business.

Having this information in the forefront of your mind and intricately planned will help you, in most cases, when applying for funding with banks and funding bodies.

Another powerful tool is cash flow projection. This depicts the inwards and outwards cash streams from all your business activities and how much initial or periodic investment your business may require. A cash flow forecast will help you seriously consider how much you are going to make in sales, plan how much you can expect to spend and propose when that cash will be expected back in.

Cash flow projection is very important to the running of your business. Cash is always the most important factor and armed with this knowledge you will be able to make important decisions.
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We also offer special incorporation services guaranteeing company formation in a single working day.

The Companies Act places strict accountability on companies to submit company documents to their requested deadlines. We can provide you with peace of mind, by taking this stressful administration off your hands. Our Company Secretary services provide support with the preparation of minutes, company formation and searches and resolutions for your Board meetings. We can also assist with:

Corporation tax is one of the most complex areas of taxation which necessitates the provision of optimal strategy form the offset to avoid administrative confusion. Our accountants in slough are expert in company taxation knowing exactly how to advise you to the most efficient tax options available maximizing company profits and minimizing compliance issues. For most small to medium businesses the most practical way of reducing tax is to review your practice and define those areas where you can save it, defer it or even to bring it forward if that will result in profits being charged at a lower tax rate.

To achieve these results, it is essential to have a full set of up-to-date and accurate management accounts. These should also include your businesses financial projections and indication to the likely trend of future trading. Any actions you choose will of course follow the usual tax planning principles – we will ensure the advice is sensible or advise if it may have adverse commercial consequences.

Services available:

Preparation & submission of statutory accounts to comply with HMRC and Companies house regulations. Accounts for partnerships, sole traders, limited liability partnerships, or companies limited by guarantees. Accounts for specialist sectors such as medical practices, law firms, estate agents, dentists, doctors, engineers, IT contractors, Landlords and property tax.

Ad-hock management accounts on monthly or quarterly basis. Abbreviated accounts. Cash flow forecasting for internal or external use. Computerised or manual bookkeeping systems. Whichever business sector you are in our tailored bookkeeping and accountancy service will ensure the best solution offered to modernise and simplify such routine boring tasks.

Payroll services available but not limited to:

Administration of PAYE, national insurance, statutory sick, Paternity and maternity pay
Completion of statutory forms P35, P45, P60
Customised payslips
Auto enrolment work place pension
Organisation of payments
Regular reports and analysis of staff costs
Staff employment contracts
Advice on incentive schemes, bonuses, and ex-gratia and termination payments

When it comes to VAT, our prime concern for our clients is to focus on the best possible VAT returns scheme which suits their business best. We constantly stay abreast of and compare the available VAT scheme options to help your cash flow.

Accounttax can help you with all areas of VAT.We provide solid VAT advice, provide support through the registration process, calculate your VAT and prepare and file your return.

We will take the time to discuss all the available options with you and make sure you are on the right scheme, whether that be cash accounting, annual accounting, retailers schemes or a flat rate scheme.

We are competent in all aspect of VAT but on some services we are mostly involve in negotiation with HMRC on liability issues. We can discuss liability issues on your behalf and agree partial exemption methods. We are also able to discuss and provide VAT planning ideas to improve your cash flow, assist VAT property law, and advise on EU and other international transactions.

Services available but not limited to

Another consideration we can discuss, is contributing into a pension. The contributions that you pay will benefit from government tax relief and there are also the options of ‘Benefits in kind’. Accounttax will advise if this option is suitable for you to offer your employees or directors. Typical array of benefits in kind are company cars, medical insurance, cheap loans and childcare arrangements.

However, as well as the consideration to extract profits, we will always be honest, and will advise you as such, if we think it would be a better move to keep some money within the company. You may consider another option such as investing it in shares or property.

The important part of the process becomes finding the right mix and we will sit with you and discuss all your options. You may choose numerous strategies to acquire the financial rewards of your hard work.

Services available but not limited to:

Along with management accounts, we can also recommend operating controls which will provide timely, hands-on information, requiring little effort from you but paramount to the success of your business.

As fully chartered accountants, we own a wealth of experience across many industries. We will ensure that all of your taxation and in-year reporting requirements are met in a timely manner and that they are fully compliant with all necessary codes and practices.

Think of management accounts as your footpath to the top. Management accounts will help you reach the top by keeping you focused on meeting the business targets you have set and we will help you every step of the way.

Services available but not limited to:

A great deal of businesses that have failed, did not fail because they were not profitable, but because they could not manage their cash flow. We find that as well as being instrumental planning tools, financial analysis and cash flow forecasts often prove crucial for businesses to obtain finance.

We will sit with you and consider your previous years sales figures, business trends and demand increase and advise you what position we see your business going forward, how we can help to move it in that direction and the procedures required to achieve those targets. Accounttax will assist you with establishment of your cash flow projections, work on your budgeting and financials projections as and when required and advise you is working well and what needs changing.

Services available but not limited to:

 

For full range of services and advice contact Accounttax team on 01753 299 993 or mail@accounttax.uk