Business Start-up and Company Formation
Are you looking to start your business and require help in forming it? We at S & B Accountants have formed several limited companies for our clients without any setbacks so let us handle all the paperwork for you so you can focus on growing your business unburdened from the company formation process. Also, we help with obtaining loans for business start-ups by working closely with you to create a great business plan to present to loaners with in whom we are confident will be convinced and provide you with the loan amount you are after.Limited company
We currently serve and have served several LLC clients who we have produced and submitted full annual accounts and company tax returns for as well as payroll and VAT in compliance with the HMRC. We strive to exceed your expectations with our accounting services through our expertise and experience in submitting of accounts, payroll and tax returns over the years without issues with HMRC so we can ensure all bases of your accounting needs are covered whilst you focus your efforts and time on growing your business.
Business Plan
A business plan gives an outline of your business, the market in which it will operate and how it aims to make money - and should answer this question: why will your business succeed when so many others fail?
We can help you answer this during our Enterprise programme, which provides you with the skills, tools and confidence you need to become your own boss. But, there's no reason why you can't start crafting your business plan today.
In addition to our core accounting services, we offer personalised business plan for small-medium sized businesses with the help of your own designated accountant to work closely with you to gain an in-depth understanding of your business and mould a business plan in line with your ambitions. As experts in finance, we can guide you every step of the way to achieving your financial objectives and present intrinsic strategies to do so to put you’re firm in a good financial position. Also, we regularly commission bespoke industry research which means we can provide original insight into your sector and help you identify potential threats and new opportunities. If you looking to acquire loans, we have created high-quality business plans for a considerable amount of clients who have successfully obtained loans presenting our business plans to external creditors.
Annual Accounts & Company Tax Returns
S & B Accountants will file all the annual accounts limited companies are required to submit to Companies House and HMRC, including a full CT600 Corporation Tax Return. All of your accounts will be submitted in the correct format e.g. full accounts or abbreviated accounts. We'll be fully compliant with your disclosure requirements. You won't have to worry about incurring any penalties because S & B Accountants will make sure you never miss a deadline. Qualified Chartered Accountants who are very adept and have many years of experiance helping small- medium businesses organize and plan their tax strategies and showing them how to get more effective results.
Partnership / Sole Traders Accounts
We are specialist sole trader/partnership accountants whose responsibility is to complete the accounts and self-assessments tax returns of sole trader businesses to keep them compliant with the HMRC. We have served many sole trader/partnership clients in London so we understand the reliefs, expenses and allowances of sole trader/partnership to reduce sole trader’s/partnership’s tax liability as much as possible so you will be saving money in the long-run. Also, we can smoothly transition your business into a limited company if/when you wish to. And as always, we are available to offer advice and answer all your questions to do with your sole trading business.
Services we offer;
1. Registering your business with HMRC
2. Prepare year end accounts and submission to HMRC
3. Prepare self-employed and partnership tax return and submission to HMRC
4. We will calculate your tax liability and help you to make the payment to HMRC
Management Accounts
We can create personalised management accounts for your business to measure your companies’ true financial performance. For small-medium sized businesses; you may feel you’re business to too small or too simple to require detailed management reports. But, even a basic quarterly or monthly summary can be useful to measure your company’s true performance, comparing it to previous years and our experts will provide analysis of these reports to make sure you have full awareness and understanding of your financial performance, as well as available to offer any advice and answer any queries regarding your management accounts. You may not have sufficient systems in place to measure your true financial performance as it can be costly and difficult to implement into your business so we can promise the information we provide will be of high-quality, affordable and as noted by the clients we have served, valuable.
Tax & NI Investigations
As a Certified Practicing Accountants, we are qualified with resources at our disposal to represent you in correspondence with the HMRC in matters such as NI & Tax Investigations. Our team know exactly what HMRC are looking for so we are able to assemble evidence that will close these cases swiftly. We will inspect your tax records on everything from PAYE and corporate income to NI and capital gains to provide you with a solid defence against HMRC Investigations.
Tax (CGT, Corporate, Personal tax and VAT)
As a Certified Practicing Accountants, we know the ins and outs of the U.K tax system so we have the capabilities to meet you and your business’s tax requirements. We provide advice on tax planning for maximum tax efficiency. We have vast knowledge and experience to accurately calculate CGT on gains from selling assets/stocks, corporation tax and personal tax owed to HMRC, and we calculate your VAT for claiming back VAT and VAT liability to make sure your firm is complaint with HMRC whilst paying as less tax as legally possible. We promise your tax matters will be remedied by our service and reduce your personal and your business overall taxes owed as much as legally possible.
Capital Gain Tax:
A tax on the profit when you sell an asset that’s increased in value, the tax also applies to an asset that you give away as a gift or exchange for something else. You only need to pay CGT if you have profited more than the annual tax-free allowance which is at £12,300, and £6,150 for trusts. There are many other ways to reduce the CGT legally through reliefs and exemptions which we are happy to discuss with you.
Corporation tax:
You must pay corporation tax if you are a limited company who has made taxable profits. Taxable profits include: Trading profits, investments and selling assets for more than they cost. You must submit an annual company tax return to the HMRC or risk paying a penalty of more than £100 for late submission. Penalties can occur if you underestimate your tax or have made careless mistakes in the company tax returns which the penalty in these cases is a specific increase in tax owed to HMRC. We can assure you we will complete and submit your company tax returns on-time and to HMRC standards. If you have already suffered penalties, we can represent you in HMRC correspondence to settle the penalties swiftly.
Personal Tax:
Through our PAYE payroll service, we are able to deduct your employees and your own income tax and national insurance which we will send the compulsory Full Payment Submission to HMRC to make them aware of all the deductions made on wages/salaries. Also, if you are self-employed or not-self-employed but are receiving income from renting property or any other means, we can complete and file your self-assessment tax return on-time and apply eligible tax reliefs and exemptions to reduce your personal tax.
Self-employed Tax
If you're in business as a sole trader, knowing how much tax you have to pay, and when, is likely to be important to you. And knowing that you're not paying too much is likely to be just as important. We have years of experience looking after the tax affairs of unincorporated business owners. We also give advice on a wide range of business tax matters including: Preparation of business income tax computations, Income tax planning, Incorporating sole traders as limited companies, Business succession planning, Revenue & Customs enquiries and investigations, Sales of businesses and business assets.
VAT
You are required to submit a VAT return to HMRC every three months so, four per year which can be tedious and complex, so let our experience team of accountant cover it for you, taking a weight of your shoulders and freeing your efforts to growing your business. Through managing your accounts, we will calculate your VAT liability owed to HMRC and claiming back VAT on purchased goods and services for business use. We know taxes can be a detrimental to your trading profits so we promise to do our utmost to reduce your VAT liability and claim back VAT as much as legally possible. Additionally, our service includes VAT Planning which could save you time and money by obtaining our advice on purchases to minimise exposure to VAT whilst abiding VAT laws.
Payroll & CIS
As an employer, you normally have to operate PAYE as part of your payroll. PAYE is HM Revenue and Customs’ (HMRC) system to collect Income Tax and National Insurance from employment.
You do not need to register for PAYE if none of your employees are paid £120 or more a week, get expenses and benefits, have another job or get a pension. However, you must keep payroll records.
Payroll can be time-consuming and difficult. We understand small-medium businesses are focused on growing their business and having to comply with the complex and constantly changing tax obligations and employment legislations of payroll management can be significant hindrance to your time and resources so why not outsource your payroll to us, where we have experts in payroll with years of experience dealing with payroll matters, so you can be assured that your payroll is covered.
We offer bespoke payroll solutions for our clients and this includes the following services;
1. We will setup the PAYE scheme with HMRC
2. We will process your payroll accurately
3. Deduct the tax, NI and pension correctly
4. We will email the payslips to you and your staffs
5. We will setup auto enrolment pension for your company and submit it monthly
6. We will submit the RTI to HMRC
7. When required we will process maternity, paternity and SSP
8. We will notify how much to pay to HMRC and will help you to making payment to HMRC
9. Auto Enrolment Compliance
10. Employment Contract
Bookkeeping Services
Bookkeeping can be boring and time consuming work. With S&B Accountants in charge of your bookkeeping it'll be simple and easy, giving you more time to manage and grow your business. We can use the information from your accounts to provide all of our other services, from submitting tax returns to HMRC to making your business as tax efficient as possible. As well as providing traditional bookkeeping services, we also offers the choice of four bookkeeping and accounting software to make bookkeeping even easier.
Looking for QuickBooks Accountants?
If you are looking for a pro firm that is QuickBooks competent or can help you integrate QuickBooks with a number of other applications then look no further. Once you become a client, your client manager will get you setup onto QuickBooks and help become familiar using it.