Every business need an accountant whether to work out tax bill or doing the accounts or complete self assessment tax returns for yourself and/or your company. It is important that you seek accountant help as early as possible. Accountants provide wide range of services to people starting out new business and helping growing companies to stay on top of the law.
The company law requires every company to prepare statutory accounts for filing with Companies House and HM Revenue and Customs (HMRC) require your accounts to support your corporation tax bill calculation.
There are late filing penalty for filing accounts late to Companies House and also fines for submitting tax returns late to the UK tax office.
If you do not know how to prepare accounts in compliant to Companies Act 2006 and applicable accounting standards if you definitely require accountant to assist you on this.
Concise Accountancy offers fixed fee accounts packages to startup businesses. The packages include taking care of your company accounts and corporation tax return. This value for money accounting packages can be paid by monthly installments.
Businesses often find it useful to prepare interim management accounts to monitor the company progress half way through the year and to benchmark good practices that generating cash and highlight highly profitable products and services.
If you do not have in-house accountant to help you with management accounts preparation, you may request your professional accountants to help you on this.
Accountants can help you working out your company tax bills and completing your corporation tax return. Accountants know what expense is tax deductible and amount capital allowances can be claimed by your business.
Advising you when you should register for VAT and assist you with preparations and completion of your business VAT returns if you wish.
When you start paying yourself salaries and you are the company director your company is required to register for PAYE (Pay As Your Earn). Your company must deduct income tax and national insurance contributions and pay them to HMRC every month. It is often worth outsourced this task to your accountant as it is cheaper for them to do it for you than you doing it yourself. If you are doing payroll yourself, you have to ensure the software is updated with the current tax rates.
General Business Advice
Choosing the right form of business structure is important when starting a new business whether you should be a sole trader, in partnership or form a limited company. Your accountant will be able to advise you after discussing your business requirements. The business structure you choose preferably should give you the best tax advantage.
Accountants also offer advisory services on setting up accounting system and advising on computerized accounting packages that best suit your business requirements. We believe no one would be pleased to find out that they have been recording their accounting transactions the wrong way and accountant is quoting high fees to sort out the mess.
UK Ltd Company Registration
If you decided to use limited company for business, you may buy company formation packages from Concise Accountancy. The company incorporation service is handled by professional accountant and the registration application documents is reviewed and checked before submitting to the Registrar of Companies to ensure it is correct and complete.
The incorporation is normally completed within three hours.
Online Accounting And Bookkeeping
Today’s Businesses are moving toward e-business. Traditional bookkeeping approach is slowing replaced by online bookkeeping. The benefit of bookkeeping online is that of it enables you to update your accounting records 24 hours a day and 7 days a week and also get instant support if you have any question. Your accountant can also access your accounts and correct any mistakes made instantly.
Concise Accountancy is working with ClearBooks, the online bookkeeping services company which offers easy to use and simple online accounting software at competitive price.
The online accounting software is accredited by the Institute of Certified Bookkeepers and Accepted by HMRC for filing VAT online.
Concise Accountancy – Accountants for Startup Businesses and Small Companies