We use Information from your accounting journal and your general ledger in the preparation of your business's financial statements:
including income statement, the statement of retained earnings, the balance sheet, and the statement of cash flows
When a business charges VAT on a sale they are collecting that money on behalf of HM Revenue & Customs. If a business is VAT registered they can reclaim the VAT they have paid on purchases. The difference between what they have charged on sales and what they have paid on purchases must be sent to HM Revenue & Customs
Taxation, including Tax planning, Personal taxation and Business taxation.
Basically, it’s the company equivalent of income tax but for registered companies.
Corporation Tax is based on the profits your business makes, and the rate depends on how much profit is generated.
Consultancy: Systems Appraisal, In-house finance support
We can transform your review process: creating
the meeting type, setting objectives, keeping notes and uploading relevant documents.
Employees have complete visibility over objectives and are empowered to manage
their own development. Create a more positive experience for the whole team.
Any business that has employees will need to run a payroll and submit RTI (Real Time Information) Returns to HMRC on each pay day. Unfortunately penalties starting at £100 per missed RTI return are payable to HMRC and any underpaid tax and NI due will also accrue interest.
Management Accounts / installation of Software package
Most management accounts' packs or templates are made in Excel. Transactions are recorded using some accounting software,
such as Sage, Sun, SAP. The monthly income statement template is divided into sections,
such as revenue, cost of sales and gross profit.
Company formation, Due diligence and Compliance work
The majority of new company formations in the UK are companies
limited by shares. This is the standard 'LTD' business structure for any company which has
been formed with the intention of generating profit for the owners of the business.
Business plan / Cash flow statements
A business plan is a written document that describes your business. It covers objectives,
strategies, sales, marketing and financial forecasts. A business plan helps you to: clarify your business idea.
Business Start up / Support
Setting up your new business involves lots of tasks, so it helps to have a working plan of everything
you need to do before you start. The seven factors of creating a business. Get your business idea right.
Assess your situation. Plan your business. Research the market. Choose a business structure. Assess your finances
Payment Protection Insurance Claim (PPI)
Have you EVER had payment protection insurance? Simply just having it now means you were almost certainly mis-sold - and are due compensation.
Audit and Investigation, including Internal audit work
Auditing is conducted to verify the extent of truthfulness and fairness of the financial records of an entity, but Investigation is
performed to prove a certain fact. ... Auditing is a process of identifying whether the results of accounting information are
accurate and according to the specified norms or not