01843866599
Services
If you are looking for a team of reliable, approachble and proactive accountants to work alongside you to help you succeed you have definitely come to the right place!
Whether it is working for you and your business, or you and your family, we are here to help.
- Business start up
- Accounts
- Business plans
- Tax planning
- Financial Management Support
- Payroll and auto enrolment
- Bookkeeping and VAT returns
- VAT solutions
- Business valuations
- Company Formation
- Corporate recovery
- Tax enquiries & inspections
- Fee protection
- IR35 - Contractors and Consultants
- CIS - Construction Industry Scheme
WORKING FOR YOUR BUSINESS
Today's business environment is fast moving, complex, and highly competitive. As a firm of business advisors and chartered accountants working from Broadstairs in Kent we offer a comprehensive range of accountancy and business advisory services. We can work with you and help your business prosper and grow.
Business startup
You are starting a business because you are an entrepreneur with a great idea and the vision to realise it.
And we're here to help you with sound business advice. We want you to focus on what you do best - building your business - while we provide you with all the necessary background support for starting your own business.
Here are just a few of the ways we can help you with your business start up:
- Preparing a comprehensive business plan
- Determining the best structure for your business: sole trader, partnership, limited liability partnership, or limited company
- Company formation, if appropriate
- Registering your new business with the HMRC
- Establishing relationships with banks, insurers, etc
- Preparing cash flow projections and assessing finance needs
- General bookkeeping, VAT, and Payroll duties
- Business tax
Contact us today for a free initial consultation
and to discuss how we can help you get your business up and running.
Accounts
As accountants we will of course prepare your annual accounts for you.
Our first step is to work with you so we can gain a full understanding of your business and the accounting records you keep. We then tailor our accounting services to your requirements so we can provide exactly the service you need.
But we don't stop there. We review the annual accounts with you, highlighting areas of improvement and concern within your business. We can produce a benchmarking report so that we can compare the performance of your business with similar ones.
You may also find regular management accounts useful to keep you informed on essential areas such as:
- Cashflow
- Profitability
- Performance ratios
- Customer activity
- Credit control
- Budget comparisons
Are you using the right software for your business? Is it easy to use? Does it give you the information you need to make the important decisions about your business?
We can help you choose the right software for your needs.
Do you know how to use your accounting software properly? We offer training in the use of the leading packages.
In addition we can also help you with payroll administration and VAT returns.
×Business plans
We all know that a successful business must plan ahead, but do you find that all too often the pressures of keeping your business going on a daily basis mean that strategic planning is not given the time and attention it needs? You may also find that some times this leads to rushed judgments, over or under-capacity in your business, or that you miss opportunities.
A good business plan will help you formulate and implement long-term strategic goals and identify and establish operational objectives. It can help you monitor performance and adjust plans accordingly.
Business plans are also regularly needed to support finance applications, especially bank lending. We can assist with all aspects of the business plan including...
- Business strategy and goal setting;
- Budgets;
- Cash flow forecasts;
- profit forecasts.
Tax Planning
Are you paying too much tax on your business activities?
As a tax accountant we offer a range of services to help you minimise your business tax exposure. These include:
- Determining the most tax efficient structure for your business
- Taking full advantage of tax opportunities and reliefs
- Achieving the optimum capital or revenue tax treatment
- Reducing tax on disposals and maximising relief on acquisitions
- Making the most of tax opportunities specific to your industry
- Using profit extractions strategies
- Dealing with corporations tax and company tax returns
- Personal Tax Planning Services
Contact us today for tax advice and discuss how efficient business tax planning can potentially bring significant improvements to your bottom line.
Financial management support
Every business can benefit from the experience and objectivity of seasoned professionals. Our management support service involves one of our experienced business advisers either on a short or long term basis.
This is a flexible service designed to be there when you need it. This service can include:
- Preparation of budgets, cashflow forecasts and management accounts
- Review and monitoring of financial information
- Financial management coaching
- An impartial voice at key management meetings
Payroll and auto enrolment
Administering your payroll can be extremely time consuming and the task is now even more difficult with Real Time Information (RTI) submissions. There are also fines and penalties from the Pensions Regulator if you don’t meet your auto enrolment duties to provide a pension for your employees.
If you also add in the increasing complexity of UK taxation and employment legislation and the accompanying regime of penalties for non-compliance, then a great deal of your energy and resources can be diverted from the core activities of your business.
You may already have considered outsourcing payroll. Our payroll department can provide a comprehensive, competitive and confidential payroll service, which includes:
- Preparation of security sealed payslips
- Administration of PAYE, national insurance, statutory sick pay, statutory maternity pay,etc
- RTI submissions to HMRC
- Completion of statutory forms, such as P60s
- Processing of starters and leavers
- Auto enrolment duties
- Summaries and analysis of staff costs
- Construction industry scheme - CIS - monthly returns
- We can even track holiday allowances
Contact us today to discuss how payroll outsourcing can help you save time and money with your payroll administration. Whether you have one employee or over one hundred, we can cater for your needs.
×We are already helping many companies get ready for Real Time Information (RTI). As you are probably very well aware there are significant changes to the way payroll information will need to be submitted to HM Revenue and Customs (HMRC).
Real Time Information (RTI)
The new system of Real Time Information (RTI) is mandatory for all employers and is to be implemented for the majority of employers from April 2013.
Under the current PAYE system although payroll is run weekly or monthly the details of payments and deductions made to individual employees are not submitted to HMRC until the end of the tax year. The full breakdown of payments and deductions form part of the year end forms P35 and P14 which are sent in on a tax year basis.
Under RTI employers or their agents will be required to make regular payroll submissions for each pay period during the year detailing payments and deductions made from employees each time they are paid.
Whilst the majority of payroll systems are gearing up to ensure that they are able to deal with the new compliance requirements of the RTI system, there are some important changes which will need to be made to the way you process your payroll.
The sequence of events is as follows:
Data Validation
The first step in the RTI process is that you will need to send employee data to HMRC which they will validate using their own databases.
Therefore, to avoid any discrepancies during the validation procedure you need to ensure that the employee information you currently hold is complete and up to date.
In particular you need to ensure that the following employee details are accurate:
- Full employee name
- Date of Birth
- National Insurance Number
- Full postal address
Three traps to avoid in particular with regard to names:
- Don’t use ‘known’ names for example Bill or Will instead of William, Sue instead of Susan, Bob instead of Robert.
- Don’t use initials in the forename or surname fields.
- Don’t split double-barrelled names over forename and surnamefields. So if Jean-Paul is a double-barrelled forename for example, then this all goes in Forename field. If Smith-Jones is a double-barrelled surname for example, then this all goes in the Surname field.
You may wish to check the relevant information with your employees.
HMRC notification and implementation dates
The latest HMRC guidance advises that the majority of employers will start reporting using RTI from April 2013 and that all employers will be reporting using RTI by October 2013. You will receive notification from HMRC regarding your PAYE scheme’s RTI date.
New employee details
Under RTI you will not be able to process pay for new employees which fail the HMRC validation checks. Therefore, please ensure the appropriate checks are carried out and the correct employee information is obtained for all new employees after April 2013.
Casuals
Under RTI employers operating PAYE will have to tell HMRC about payments of earnings to all employees, even where an employee earns less than the lower earnings limit (LEL), currently £107 a week. This is a change from the current situation where employers do not have to maintain a P11 (deductions working sheet) if someone for example earns £20 a month, being well below the LEL.
HMRC have issued further draft regulations and guidance to deal with some specific areas. These rules include a relaxation of the requirements in respect of the reporting of some payments made to casuals and where a P11 does not have to be maintained. HMRC propose that employers will be allowed up to seven days to report these payments.
Payroll processing
The payroll submission you make each pay period must generally be sent to HMRC before the employees have been paid. Therefore, you may wish to introduce
Payments to HMRC
Please bear in mind that under RTI HMRC will be aware of the amount due on a monthly basis.
HMRC are issuing updated information on a regular basis on the new RTI system. Further details are also available on the HMRC website and can be found by visiting http://www.hmrc.gov.uk/rti/index.htm
How we can help
We recognise that administering your payroll can be extremely time consuming and that the task is now even more difficult with RTI submissions. If you have any concerns about RTI and would like us to do your payroll in the future, please contact us for further details and a quotation, which I am sure you will find competitively priced.
×Bookkeeping and VAT returns
Do you need help with bookkeeping and preparing VAT returns?
If so our team based in Broadstairs, Kent can relieve you and your staff of an enormous burden by taking care of all your bookkeeping and accounting needs. We can also help you with your end of year accounts at the end of the financial year.
Our first step is to work with you so we can gain a full understanding of your business and we are experienced with all the major accounting software packages. With cloud based software location need not be a barrier to you getting exactly the service you need.
Remember - HMRC are now paying more attention to the standard of your business records, so it is important they are accurate and complete.
Contact us today to discuss how we can help you keep your books in good order and to arrange a free initial consultation.
×VAT solutions
Is VAT the bane of your life? Many people we come into contact with find that the complex VAT regime imposes a massive admin burden on their business.
With the rate being so high, if you make a mistake in your VAT calculations this can be costly - you also need to take into account the rigid system of penalties and interest charges for mistakes and for the late submission of returns which can add significantly to that burden.
Our cost-effective VAT services will help to keep your VAT affairs in order, make sure you are collecting the right amounts for each transaction, and ensure that you make payments and file your VAT return correctly and on time.
It really is VAT made easy. In addition to providing a comprehensive bookkeeping and VAT accounting service, we can also advise on and help with:
- The pros and cons of voluntary registration
- The timing of compulsory registration
- Extracting maximum benefit from the rules on de- registration
- Partial exemption
- Flat rate VAT schemes
- VAT control visits by HMRC
Contact us now for a VAT health check.
×Business valuations
How much is your business worth? Whether your business is a company, partnership or sole trade we can provide a valuation of your business.
Business valuations are needed for many reasons:
- Retirement and exit planning
- Raising finance
- Sale or merger of the business
- Shareholder or partner disputes
- Tax planning
Company formation
Although you can buy a ready made company on the internet, you need to make sure you have thought through all the options. Sometimes a tailor made company is more appropriate. When we carry out a company formation we will first talk through with you your own situation to check that a company is the best option for your business.
We will also include VAT registration, company registration for corporation tax and setting up a PAYE scheme. We will also advise you on the records you need to keep and your responsibilities as a company director. There are many other aspects we can help with.
See our Business start up page
There is often more to it than just buying a company off the internet!
×Business startup
You are starting a business because you are an entrepreneur with a great idea and the vision to realise it.
And we're here to help you with sound business advice. We want you to focus on what you do best - building your business - while we provide you with all the necessary background support for starting your own business.
Here are just a few of the ways we can help you with your business start up:
- Preparing a comprehensive business plan
- Determining the best structure for your business: sole trader, partnership, limited liability partnership, or limited company
- Company formation, if appropriate
- Registering your new business with the HMRC
- Establishing relationships with banks, insurers, etc
- Preparing cash flow projections and assessing finance needs
- General bookkeeping, VAT, and Payroll duties
- Business tax
Contact us today for a free initial consultation
and to discuss how we can help you get your business up and running.
Bookkeeping and VAT returns
Do you need help with bookkeeping and preparing VAT returns?
If so our team based in Broadstairs, Kent can relieve you and your staff of an enormous burden by taking care of all your bookkeeping and accounting needs. We can also help you with your end of year accounts at the end of the financial year.
Our first step is to work with you so we can gain a full understanding of your business and we are experienced with all the major accounting software packages. With cloud based software location need not be a barrier to you getting exactly the service you need.
Remember - HMRC are now paying more attention to the standard of your business records, so it is important they are accurate and complete.
Contact us today to discuss how we can help you keep your books in good order and to arrange a free initial consultation.
×VAT solutions
Is VAT the bane of your life? Many people we come into contact with find that the complex VAT regime imposes a massive admin burden on their business.
With the rate being so high, if you make a mistake in your VAT calculations this can be costly - you also need to take into account the rigid system of penalties and interest charges for mistakes and for the late submission of returns which can add significantly to that burden.
Our cost-effective VAT services will help to keep your VAT affairs in order, make sure you are collecting the right amounts for each transaction, and ensure that you make payments and file your VAT return correctly and on time.
It really is VAT made easy. In addition to providing a comprehensive bookkeeping and VAT accounting service, we can also advise on and help with:
- The pros and cons of voluntary registration
- The timing of compulsory registration
- Extracting maximum benefit from the rules on de- registration
- Partial exemption
- Flat rate VAT schemes
- VAT control visits by HMRC
Contact us now for a VAT health check.
×Payroll and auto enrolment
Administering your payroll can be extremely time consuming and the task is now even more difficult with Real Time Information (RTI) submissions. There are also fines and penalties from the Pensions Regulator if you don’t meet your auto enrolment duties to provide a pension for your employees.
If you also add in the increasing complexity of UK taxation and employment legislation and the accompanying regime of penalties for non-compliance, then a great deal of your energy and resources can be diverted from the core activities of your business.
You may already have considered outsourcing payroll. Our payroll department can provide a comprehensive, competitive and confidential payroll service, which includes:
- Preparation of security sealed payslips
- Administration of PAYE, national insurance, statutory sick pay, statutory maternity pay,etc
- RTI submissions to HMRC
- Completion of statutory forms, such as P60s
- Processing of starters and leavers
- Auto enrolment duties
- Summaries and analysis of staff costs
- Construction industry scheme - CIS - monthly returns
- We can even track holiday allowances
Contact us today to discuss how payroll outsourcing can help you save time and money with your payroll administration. Whether you have one employee or over one hundred, we can cater for your needs.
×Tax Planning
Are you paying too much tax on your business activities?
As a tax accountant we offer a range of services to help you minimise your business tax exposure. These include:
- Determining the most tax efficient structure for your business
- Taking full advantage of tax opportunities and reliefs
- Achieving the optimum capital or revenue tax treatment
- Reducing tax on disposals and maximising relief on acquisitions
- Making the most of tax opportunities specific to your industry
- Using profit extractions strategies
- Dealing with corporations tax and company tax returns
- Personal Tax Planning Services
Contact us today for tax advice and discuss how efficient business tax planning can potentially bring significant improvements to your bottom line.
Corporate recovery
It is a well known fact that many business failures could have been avoided if the owners had taken the right advice at the right time. Some of the commonest causes of company collapse are high drawings, bad debts, reduced demand, excessive borrowing, and low property values. All too often business owners do not face up to these problems until it is too late.
Moreover, company directors who ignore such problems run the risk of committing offences under the Insolvency Act such as fraudulent trading, misfeasance, wrongful trading, and preferential or undervalue transactions - for which the penalty might be disqualification, or worse!
The key is to seek professional help as soon as the first signs of difficulty appear. With timely advice a company may be saved from liquidation or receivership, particularly if there is a genuinely profitable core to the business.
We can help you identify the cause of your problems and recommend solutions to improve profitability and cashflow.
If it is necessary for your business to go into administration, receivership, or insolvency, we can refer you to a qualified insolvency practitioner.
Contact us today to discuss how we can help keep your business in good shape.
×Tax enquiries & inspections
Can you imagine how stressful and costly a lengthy HM Revenue & Customs investigation into your personal or business affairs could be? Unfortunately you, like everybody else, are not immune or exempt from the tax authorities taking a more detailed look at your accounts and tax returns. The current nature and scope of penalties and inspection powers has widened significantly.
We can help you in the event of an investigation, and aim to draw any enquiry to a speedy conclusion and to minimise any tax, interest or penalties that may follow should HMRC determine there are further liabilities.
The professional fees for attending to all aspects of the work – discussing this with you, responding to HMRC’s enquires and keeping you informed regarding likely outcomes can be substantial, so our Fee Protection service is an important aspect of ensuring you do not have to concern yourselves with our fees.
Contact us to find out more about our Fee Protection service and how the small annual premium could protect you and your business from unwelcome additional costs.
×Fee protection
Protect yourself from a costly tax investigation before it is too late.HMRC is continually embarking on new ways to target you using a range of approaches and new technology. We are constantly vigilant and we stay up to date with the latest advances, but you are still at risk of an investigation at any time.
Tax investigations can be costly and our expert support during this process is not covered in your usual accountancy fee.Investing a small amount into an expert protection policy now means that you will receive complete support if the HMRC targets your business.We will manage your case from start to finish, reducing stress and providing peace of mind.
×IR35 Contractors and consultants
Whether you are an IT contractor, engineer, offshore worker or consultancy service provider, getting to grips with the implications of IR35 and the ‘am I self-employed or employed’ debate can seem quite daunting and may even leave you open to a negative response from HMRC.
You will be aware that there is a great deal of publicly available information and contractor guides which unfortunately can sometimes be misleading. This is where we can help you. Our experience comes in understanding how HMRC are likely to interpret the rules in your particular case.
Our experienced and professional advisors will put you on the right footing and ensure that your affairs are always in order
Contact us today to discuss your contracting dilemmas.
×CIS - Construction Industry Scheme
If you are general contractor or sub contractor, take advantage of our years of experience working with clients in the construction industry. We can help with:
- Help with CIS registration
- Verify your subcontractors
- Prepare your CIS return
- Advise you how much CIS tax you have to pay
- Submit your CIS return to HMRC
Contact us today for further details
×WORKING FOR YOU AND
YOUR FAMILY
With pension uncertainities, increased university fees, inheritance tax and countless other challenges, managing your personal wealth is more difficult than ever before. Take a look at the services we offer to help you maximise your personal tax position and secure your family's financial future.
Tax returns and self assessment
The term 'self assessment' is proving to be one of the great misnomers of all time. Many taxpayers struggle to understand the complex tax return and often complete their forms incorrectly.
The constant stream of changes to tax legislation means not only that the returns are becoming even more difficult to understand but also that taxpayers risk incurring more penalties through failing to complete their returns on time or correctly. Completing tax online is often a further complication for some people.
We will work out the tax, complete your tax return, and offer advice on how you can minimise your tax liability.
We will act as your agent, dealing directly with HMRC on your behalf.
Should you be selected for a self assessment tax enquiry, we will aim to draw the enquiry to a speedy conclusion and to minimise any tax, interest or penalties. We recommend our Fee Protection Insurance.
×Fee protection
Protect yourself from a costly tax investigation before it is too late.HMRC is continually embarking on new ways to target you using a range of approaches and new technology. We are constantly vigilant and we stay up to date with the latest advances, but you are still at risk of an investigation at any time.
Tax investigations can be costly and our expert support during this process is not covered in your usual accountancy fee.Investing a small amount into an expert protection policy now means that you will receive complete support if the HMRC targets your business.We will manage your case from start to finish, reducing stress and providing peace of mind.
×Personal Tax Planning
The question you want to know the answer to is how much tax should I pay?
The UK tax regime is becoming increasingly complex with HMRC putting more emphasis than ever before on the taxpayers' individual responsibilities. Most taxpayers need professional advice and support if they are to optimise their tax position and ensure they meet all the compliance requirements.
We can provide you with year round tax advice on:
Our Personal Tax Planning Services can help you make sure that you take full advantage of the tax saving opportunities open to you. In answer to your question, how much tax do I pay, just contact us today for a personal tax planning review.
×Retirement and pension advice
We all want to have the same standard of living in retirement as we enjoy while we are working, but to achieve this requires considerable forward planning. Here are some important questions you need to ask yourself:
Exit strategies: If you are in business, the first thing you need to consider is your exit strategy. Will you withdraw from the business, leaving it for the next generation, or will you sell the business? If you intend to hand the business over, do you have a workable succession plan? If you intend to sell, how will you value the business, find a suitable buyer, etc.? Are you aware of all the tax implications of the timing of disposals?
Pension provision: Have you made adequate pension provision, and do you have the right type of pension? Are you aware of all the pension possibilities open to business owners and directors? Are you making full use of all your allowances?
Savings and investments: Do you have the right balance between savings and investments, and between high and low risk exposures?
Life assurance and long-term care: Do you have adequate life assurance, and have you made provision for long-term care and medical insurance for you and your spouse in your later years.
Contact us and we can help you answer all these questions and recommend solutions tailored to your particular needs in conjunction with our trusted contacts in the financial services industry.
×Estate planning
When you have spent a whole lifetime building up your personal wealth, you want to think that when you die your estate will go to your chosen beneficiaries and not to the taxman!
The earlier you start your estate planning the more opportunity you will have to take full advantage of the tax opportunities available to you and to maximise the amount that your beneficiaries will receive. You need to understand how capital gains tax and inheritance tax works.
It is also equally important when planning to transfer your estate that you make adequate provision for yourself and your spouse in your later years.
We provide an estate planning service that includes:
- Help with drawing up and reviewing your will
- Making full use of exemptions and lower tax rates on lifetime transfers
- Optimising lifetime transfers between spouses
- Optimising agricultural and business property reliefs
- Advising on the use of trusts
We strongly advise you to begin your estate planning right away. Contact Us for a preliminary review
×Trusts & executorships
Trusts can still be a very tax efficient way to set aside assets for future beneficiaries which are outside of the inheritance tax net. We can advise on the most suitable type of trust for your purposes and provide a full range of accounting services for trusts.
We can also advise you on the tax implications of the contents of your will and where appropriate, act as trustees or executors.
Contact us today for further details.
×Property Tax
Property tax is a complex area and it can feel a bit like walking through a maze! We can advise you on issues such as...
- When to use a Limited Company to save tax
- What is a repair and what is capital
- Trading income versus Capital Gain considerations and advice
- Capital Gains rollover and holdover considerations
- Stamp duty considerations
- VAT considerations of property deals
- Making the most of the Private Residence election
- Tax issues on the sale of part of your residence
- Second homes
- Inheritance Tax angles
01843 866599 