© 2017 by The Business Clinic Ltd

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GENERAL ACCOUNTANCY

Annual accounts

If you are a Limited Company, you are required to submit your End of Year accounts to Companies House within 9 months of the year end. We can prepare a fully comprehensive set of accounts and an abbreviated version for submission, then use the information to complete the company Tax Return.

 

Sole Trader & Partnership Accounts

The size and nature of your business determines if you require a set of accounts. Not everyone that has to produce a tax return will need them;

  • If your sources of income are straight forward, you can just ask us to complete and submit your tax return.

  • If you have rental properties and are employed, than we will complete a rental statement and again there is no need for a full set of accounts.

  • If you have various sources of income or have a large amount of sales invoices, purchase invoices and bank transactions, it is more likely that we will need to produce a set of accounts to enable us to produce your tax return.

Cessation Accounts

These accounts are usually needed when a business ceases trading. They provide the owner or director with vital information with regards to how much is owed in and out of the business.

Management Accounts
There are no legal requirements to prepare Management Accounts. They can however; aid you to make appropriate and concise management decisions about your business by providing you with accurate and relevant information.

Depending on the areas that are important within your business, the Management Accounts can be tailored to suit individual requirements, such as looking at;

  • The Companies Sales Process – Pricing, Distribution and Debtors

  • The Purchasing Process – such as Stock Records and Creditors

  • The Fixed Assets Register – details of all Fixed Assets, including Cost and Date of Purchase.

 

We will look at historical performance as well as forward plan using techniques called forecasting and budgeting which look at elements such as sales, cashflow and profit.

Tax returns
All personal Tax Returns need to be submitted online by the 31st January.

Listed below are example of when a Tax Return is needed, but if you do not fall into any of these categories just ask;

  • You are working for someone else and get paid through PAYE , but you are also a landlord and receiving rental income

  • You are working for someone else and get paid through PAYE , but also work for yourself on occasions.

  • You are completely Self Employed.

  • If you are a Foster Carer and are receiving payments from the Government

  • If you are in being cared for and are receiving your care allowance from the government enabling you to choose and pay who cares for you.

  • If you have inherited an estate and have other sources of income.

  • You are receiving pensions (in some circumstances you may be required to submit a tax return)

 

We will advise you on the information we require and when we will

require it so that you always meet the deadlines and avoid the ever

increasing penalties.

 

Company secretarial services

The Companies Act places strict rules on Limited Companies to submit

the required documents according to deadlines. We can deal with this for

you meaning that you never miss a deadline.

  • Preparation of Confirmation Statements

  • Reminders of your upcoming deadlines

  • Preparation and filing of statutory returns

  • Preparation of minutes and resolutions

  • Company formation

  • Changes to Directors and Shareholders

  • Share adjustments

  • Company searches