Small Business

SMALL BUSINESS

Being a small business entrepreneur can be a daunting task right from the start forcing you to “working on the business” rather than “working in the business”.

Most family run businesses whilst expecting a regular income stream from the outset fail to recognise the problems that may face in making it a success story. Not only they have to invest precious time resources to raise the initial capital, develop technical knowhow, deal with paperwork but also concentrate on getting the new clients. At times without any professional help they try to overstretch by do multi-tasking all alone whilst experiencing information overload and lack of direction & planning. Such as:

  • What type of entity it should be? Single owner, partnership or a limited company?
  • Do I need to register with any professional associations? Have a patent or a trade mark?
  • How do I comply with data security, corporate governance, tax, health & safety and employment laws?
  • Do I have adequate management reporting and accounting systems in place?

At Accounttax we understand these problems and offer detailed road map to make you achieve your full business potential by taking over all accountancy and tax tasks and let you be occupied with what really matters “Your business”.

Range of Services offered include:
  • Accounts & Bookkeeping
  • Payroll
  • VAT
  • Tax planning
  • Profit Improvement
  • Tax advice & Investigations

ACCOUNTS & BOOK KEEPING.

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.
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Payroll

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.
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Vat Returns

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.
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Tax Planning

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.
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Profit Improvement

With numerous years’ experience in supporting businesses with our accountancy services, we have accumulated a wealth of knowledge in many financial areas.
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Tax Advice and Investigations

HMRC carry out tens of thousands of investigations whether related to Tax, Corporation Tax, PAYE or VAT. These can be enquiries, compliance checks, reviews, audits or sometimes just a set of questions. Investigation into your tax affairs is inconvenient and can potentially be damaging and not just financially.
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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.

Services available:

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.

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.

Payroll services available but not limited to:

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

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

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:

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.

We can provide solid business advice to help you boost your businesses profitability.
We will spend quality time with you to analyse your customers, products, vendors, supply chains, pricing, and advise the adjustments required across the relevant sectors to make them more profitable.

We will also consider the areas of your business which you are providing too cheap and the ones which are too expensive; supply you with competitor analysis and identify other service options you should be offering and your potential profitability in the future.
Once we have finished our investigations we will provide you with a profit focused plan that will set out your goals and targets helping you on the way to becoming more profitable and successful.
Accounttax will support and hone in on what is required to make your business fly, through a combination of target setting and actions to help you to set realistic and achievable profit goals.

Services available but not limited to:

Keeping clean records, clear accounts and submitting tax returns on time will help avoid any further problem in these situations. We can help maintain your records and keep your accounts up-to-date, and to the legislation guidelines. This will allow you to focus on running your business without worry or concern, and in cases where these situations arise, we will be here to assist you and support.

Every business may be faced with tax investigations or inspections from time to time.

For example, a VAT-registered business can expect a routine tax inspection every few years. The inspection will look at all your records and tax compliance systems.

We are confident in our knowledge of small businesses and can assist you with all levels of tax enquiries. We provide the right help, support and advice and will ensure that the enquiry is handled professionally and as quickly as possible.

As a summary, our Accounttax can assist you thought a wide range of issues involving:

We will resolve matters as quickly as possible, negotiate fair financial settlements where possible, and support you throughout any situation, alleviating stress and ensuring the result is to your benefit.