Monthly Management Accounts

You will be sent your management accounts as well as an estimated tax bill every month along with tailored advice, bespoke to your situation.

Bookkeeping

Did you know that small businesses spend roughly 10 hours a month bookkeeping?

That's 10 hours that could be spent focusing on other areas of your business, socialising with your friends and family or losing to children at an online game.

Accountants will take care of this for you including the most tedious of tasks that come with bookkeeping.

VAT Returns

Always a hassle and if you get it wrong HMRC can 'default' your business and this can result in surcharges and penalties.

Even something as simple as submitting your returns via paper unless given exemption can result in a £400 fine.

With the professional accountants taking care of these matters, you don't need to worry about incurring any of these fines.

Payroll

Salaries and wages can be complicated enough on their own but when you factor in additional payments such as bonuses and commission, things become even more complex.

Outsourcing to professional accountants means that you can sleep soundly at night knowing that your staff are always being paid correctly and on time.

Statutory End Of Year Accounts

End of year taxes.

Even just saying that sends a shiver down most people's spines.

Luckily that daunting task can be a thing of the past if you decide to hire professional accountants to take care of your finances.

All you have to hand over is:

• Sales invoices and details
• Paperwork for purchases & expenses
• Business bank statements for the year

This way you can go into the new year without the dread of submitting those end of year taxes.

Corporation / Partnership Tax Return

If you're a small business, limited company or partnership, then you will; need to complete a Corporation or Partnership Tax Return to be sent to HMRC.

Dealing with HMRC, as already mentioned can be a bit of nightmare especially if not handled properly.

Professional accountants however are experts in navigating HMRC and you don't have to worry about being issued some arbitrary fine.

Self-Assessment Tax Return

More HMRC documents, more chance of penalties and fines.

A self-assessment tax return needs to be completed if you are self-employed or are a director of a company or receive any other non-taxed income.

This can often be a long and quite arduous process.

That is of course, unless you're hiring external accountants.

No Payment Delays

No matter if it it's an employee, customer or HMRC, if you owe them money then these will always be paid on time.

Monitoring Cash Flow

Accountants, with their expertise and specialist software can show you your exact incomings and outgoings with pin point precision whenever you desire.

Expert Support

You will typically have your own personal accountant or team responsible for your company's finances and their expert knowledge, support and advice are at your service.

Navigating HMRC

Yes, it's yet another mention of HMRC and their penalties.

You're probably sick of hearing about them now so we won't dwell too much on them but as mentioned accountants know how to navigate this tricky world without incurring any of the penalties that comes with it.

Record Keeping

Accountants will be sending you regular documentation and records about your finances for you to store as you see fit as well as keeping records themselves.

This way you always have an official paper trail when it comes to your finances.

Additional Services

Accountants can help with other business matters such as; financial strategy, establishing relationships with banks and solicitors and if you're just starting out then they can help you decide on the most suitable structure for your business.