Accounts for Limited Companies, LLP’s, Partnerships & Sole Traders
Preparing Accounts should be much more than a reaction to a deadline set by HM Revenue and Customs – with foresight they can be a useful planning tool. There are many benefits to having your accounts prepared sooner rather than later:
Wouldn’t you rather know how much you need to put away 9 months in advance rather than find you have a several thousand pound tax bill to pay next week?
Having reliable up to date financial information is much more likely to result in you getting the finance you require.
Accounts are historical and by having them prepared quickly you will know immediately where your money is going and how your margins compare to competitors, etc.
If you have a limited company, the law specifies that you must keep satisfactory records. Even if you are not a limited company, HM Revenue & Customs will want to know how you arrived at your taxable profit. You will need to be able to show them!
Review of Accounting Systems
In preparing your accounts we can tell you where your systems can be improved to ensure that you spend your time recording transactions more effectively.
We have extensive experience in preparing accounts for clients – anyone from the small Self Employed business to 5 million pound turnover clients. We are able to provide you with annual or periodic management accounts and can advise you on the pitfalls and benefits of selecting an appropriate year-end.
The benefits you can expect to receive by using Hunt Ford & Co. to prepare your accounts include:
- We have Qualified Chartered Certified Accountants working within the firm
- Fees quoted up front
- Quick turnaround of jobs and return of your papers
- We use the latest technology including electronic exchange of data
- We work with you to reduce the time spent book-keeping leaving you with more time to do what you do best – running your business
We currently prepare VAT returns for a number of clients in various different industries. From Catering to Hairdressers to Motor Vehicle Garages, we are familiar with the nuances of VAT and can advise you accordingly. When HM Revenue Customs do come knocking, we are also familiar with the workings of the Compliance review and will fight your corner when the time arrives. Take the strain out of your book-keeping each quarter – hand us your records and sit back and wait for the completed return to come back in good time to avoid the possibility of punitive VAT surcharges of up to 15%!
We have extensive knowledge in the field of taxation – both Corporate and Personal. Broadly speaking we can help you with the following areas:
Self Assessment Return forms, Partnership SA Returns, Employed Cases. We can help you with tax planning, tax enquiries and the simple preparation of returns be it a straightforward case of calculating your personal tax liability for the year or calculating and including your Capital Gains. What’s more, our e-filing capability means that anyone due a refund should obtain it far quicker than through conventional channels – and the Revenue receive the form on time every time – no Royal Mail intervention required! In particular this can be of huge benefit to subcontractors. In good time, each year without fail we will write to you clearly explaining and setting out your tax liabilities even including a tax payment schedule to make sure you don’t miss that all important deadline. If you do you could be liable to punitive surcharges.
We also prepare CT600’s for many Companies from their accounts. We can advise you of your liability to tax, when it is due and also advise you as to the impact of the new tax on Non-Corporate Distributions. Through pre-emptive tax planning and the use of salary and Dividends, we are also able to help you plan your affairs to make best use of the current tax regime. Don’t drift along aimlessly paying unnecessary tax – come and see us and we can help you mitigate your tax liabilities.
Our Payroll bureau can provide you with payslips and detailed management reports for weekly, four weekly, two weekly and monthly pay cycles. Needless to say we also prepare your year end reports and submit P35’s using our online filing which entitles you to a tax credit. Don’t miss out; we can e-file your return today!
Our payroll software also caters for reporting benefits on form P11D. This often overlooked area of payroll can prove to be costly as the Inland Revenue can seek to gross up some benefits received without inclusion on P11D.
We also have knowledge and resources to be able to deal with most payroll topics including SMP, SSP, dismissal, redundancy and much more.
For specialised assistance with Wills, Probate matters and Inheritance tax, we would recommend specialist solicitors Davis Law Associates – Solicitors & Higher Court Advocates. For further information please contact Mr L.P Ford – Tel: 01753 888 776 – Web: www.davis-law.co.uk