Payroll

Outsourcing payroll services to a specialized provider can be a cost-effective and efficient solution for small businesses. It allows businesses to avoid the expenses associated with hiring and training in-house payroll staff, as well as the costs of purchasing and maintaining payroll software. Outsourcing also helps ensure accuracy and compliance with tax laws and regulations, reducing the risk of errors and penalties. 

Benefits of outsourcing payroll:

Cost Savings:

Increased Efficiency:

Enhanced Accuracy and Compliance

Company's Accounts and Financial Reporting

Chartered Accountants Firms play a vital role in assisting businesses with financial reporting and forecasting. They prepare financial reports that provide insights into a company’s performance, helping businesses make informed decisions. These services also include projections and forecasts to aid in budgeting and future planning.

• Financial Statements Preparation

• Cash Flow Projections

• Profit and Loss Statements

• Balance Sheet Analysis

• Financial Forecasting

Bookkeeping

Bookkeeping and accounting services are essential for every business to maintain accurate records. We offer comprehensive bookkeeping services to track transactions, prepare financial statements, and ensure compliance with accounting standards. These services include:

• Financial Record Keeping

• Payroll Services

• General Ledger Maintenance

• Accounts Payable and Receivable Management

• Bank Reconciliation

Tax Compliance Assistance

Tax planning and compliance are some of the most crucial services we offer. Our qualified Accountants assist businesses in understanding their tax liabilities and help in minimizing the tax burden through efficient tax planning. Our team are well-versed in tax laws and regulations and can guide businesses on issues such as:

• Corporate Tax Returns

• Personal Income Tax Planning

• Sales Tax Compliance

• Tax Consultancy

• Transfer Pricing

• VAT and GST Services

• International Taxation

Capital Gains Tax (CGT) 

What is Capital Gains Tax and how is it calculated for Buy to Let properties?

If you’re a landlord and you decide to sell your Buy to Let property, it’s more than likely you will need to pay Capital Gains Tax on the amount that property has gone up in value by, since you purchased it. The amount of Capital Gains Tax (CGT) paid is relative to the amount of profit you make, for example: If you purchased a £400,000 Buy To Let property and you sell it after it has increased in value to £480,000, your profit is £80,000 and it is this figure on which your Capital Gains Tax bill is calculated. 

Inheritance Tax (IHT) 

Understanding How Inheritance Tax on Property works in the UK. 

Inheritance tax on property is a major concern for families looking to protect their assets and ensure their loved ones benefit from their estate. With property often being the most valuable asset in an estate, it’s essential to explore legal strategies to reduce the tax burden.

Corporation Tax

Corporation Tax is a tax on the profits of limited companies and some other organisations (such as clubs and co-operatives) in the UK. The amount paid depends on the level of profit made and is a self-assessed tax, meaning companies must calculate and pay the amount themselves. . We offer assistance preparing your company's account to be compliant with regulations 

• Financial Record Keeping

• Corporate Tax Returns

• General Ledger Maintenance

• Accounts Payable and Receivable Management

• Bank Reconciliation

Indirect Tax 

An indirect tax is a consumption tax levied on goods and services, which is collected by an intermediary (such as a retailer or manufacturer) from the consumer at the point of sale and then paid to the government. The consumer ultimately bears the economic burden of the tax, though they do not pay it directly to the tax authority.  indirect taxes include:

• Value Added Tax (VAT): Common in the UK and European Union. The standard UK VAT rate is 20%.

• Excise Duties: Specific taxes on particular goods such as alcohol, tobacco, fuel, and sugary drinks.

• Customs/Import Duties: Levies imposed on goods imported from other countries to bring their costs in line with domestically produced goods.

• Environmental Taxes: Such as the Aggregates Levy or Landfill Tax, designed to discourage environmentally harmful activities. 

Management Consultancy

Management consultancy is another key service we offer, helping businesses streamline their operations, reduce costs, and improve profitability. Our expertise in financial management, business strategy, and risk management ensures that businesses can operate more efficiently and make informed decisions. This include but not limited to:

• Financial Planning and Budgeting

• Business Process Optimization

• Risk Management

• Corporate Governance

• Mergers and Acquisitions Consultancy

• Business Restructuring

Financial Advisory Services

Financial advisory is vital for both businesses and individuals looking to make sound financial decisions. Chartered accountants provide expert guidance on investment strategies, wealth management, and retirement planning. They also assist businesses with financial forecasting, preparing for mergers or acquisitions, and improving overall financial strategies.

• Investment Planning and Strategy

• Wealth Management

• Retirement Planning

• Mergers and Acquisitions Advisory

• Business Valuation

• Debt Restructuring

Corporate Finance and Capital Raising

Raising capital and managing corporate finances is a complex task that requires deep expertise. We assist businesses in securing financing for expansion, managing cash flows, and improving financial stability. We can help you navigate capital markets, mergers, and other complex financial transactions inlcuding:

• Business Loan Advice

• Debt Financing

• Equity Financing

• Capital Structure Optimization

• Initial Public Offerings (IPO) Advisory

Forensic Services

We provide specialised assistance in financial investigations and disputes, focusing on detecting and preventing financial crimes. We utilise our expertise to analyse financial data, trace funds, and provide expert opinions in legal proceedings and assist in a range of matters, including fraud investigations, matrimonial disputes, and valuations for tax planning. 

Company Secretarial Services

companies are required to comply with various legal and regulatory requirements. Chartered accountants provide company secretarial services to help businesses comply with these laws, ensuring that all statutory filings are made on time and that corporate governance practices are followed. These services include:

• Filing of Annual Returns

• Preparation of Company Resolutions

• Corporate Record Maintenance

• Regulatory Compliance Reporting

• Shareholder Communication

Outsourced Accounting Services

Outsourcing accounting functions has become increasingly popular due to cost-effectiveness and operational efficiency. We provide businesses with the flexibility to access expert accounting services without the need for a full-time in-house team. Services include:

• Complete Outsourced Accounting Solutions

• Virtual CFO Services

• Financial Analysis and Reporting

• Accounting System Implementation

Small Business Accounting and Support

For small businesses, we offer cost-effective accounting solutions to manage their financial obligations while ensuring compliance with tax laws and assist in budgeting, bookkeeping, and business strategy to help small businesses grow.

• Business Formation and Structure

• Small Business Tax Filing

• Accounting System Setup

Non-Profit and NGO Accounting

We also specialise in handling the accounting needs of non-profit organisations and NGOs. These services ensure that such organisations adhere to strict regulatory standards such as the Charity Commission and maintain transparency in their financial reporting.

• NGO Financial Management

• Non-profit Audits

• Donor Reporting