I have experience in preparing sole trader and company accounts and tax returns...
You are required to complete a self assessment tax return if you are self-employed...
It is important to ensure that your financial records are maintained on a regular basis...
You must register your business for VAT if your turnover exceeds the £90,000 threshold...
Many businesses wait for their annual accounts to be prepared before they have any indication of their business’s...
The preparation of the payroll is an important function for any business and getting it wrong can affect employee morale...
Contractors are required to submit CIS returns to HM Revenue and Customs on a monthly basis...
You may also be considering moving to a computerised cloud accounting software and I can help you with this...
I have experience in preparing sole trader and company accounts and tax returns for a range of different business types. I can ensure that your end of year accounts are prepared accurately and that you are maximising your tax relief by including all of your tax deductible expenses. Where possible, I will always endeavour to prepare your accounts soon after your year end has passed so that your businesses annual performance is made available to you as soon as possible, this however is dependent on the availability accounting records.
For corporate clients I will make sure that filleted accounts are submitted to Companies House and I will also prepare the company corporation tax return (CT600) to ensure that you are compliant with HM Revenue and Customs.
For corporate clients I also offer a company secretarial service to ensure that your statutory reporting requirements are kept up to date. This includes submitting the annual confirmation statement on your behalf and also dealing with forms required for the appointment and termination of company directors and officers if required.
If you are thinking of trading through a company I can also assist you with the initial formation of a new company ensuring that you have the correct structure from day one.
You are required to complete a self assessment tax return if you are self-employed as a ‘sole trader’ with an income greater than £1,000, a partner in a business partnership or you have any other untaxed income, such as rental income, income from savings, investments and dividends or foreign income. The preparation of a tax return can be a complex and stressful experience for the taxpayer, I can save you time, worry, and money by preparing your tax return for you. I will prepare the necessary computations, submit your tax return to HM Revenue and Customs and offer you advice on how to keep your affairs as tax efficient as possible. I always like to ensure that my clients have a clear understanding of their tax position and if relevant, how the HMRC payment on account system applies to them. I always try and explain things clearly but without the need for technical jargon that can sometimes be difficult to understand
It is important to ensure that your financial records are maintained on a regular basis so that you can accurately monitor your businesses performance. Many business owners simply do not have the time for paperwork and it is easy to fall behind. I can help with this administration burden by offering either a monthly or quarterly bookkeeping service. If you have a seasonal business I am happy to step in and take away the pressure during busy periods. I am happy to help you as much or as little as you need, I can even step in and review any work you have undertaken yourself to ensure that it is accurate and correct. I have experience in using many different types of accounting software and I am also happy to work alongside your existing accountant if required. Using the services of a bookkeeper has a number of advantages, not only does it mean you can use your own time more efficiently but you will also see a reduction in your annual accounts fee if you have tidy, accurate financial records that are maintained throughout the year.
Many businesses wait for their annual accounts to be prepared before they have any indication of their business’s performance. This means that business owners are often looking at historic data and it can be some time before actual profits or losses are identified. I can prepare quarterly or monthly management accounts which consist of a profit and loss account and a balance sheet that will give you an indication of how well your business is currently performing. This proactive service will enable you to identify any problem areas that you might not have been expecting as well as opening up tax planning opportunities if your business is performing better than you were expecting. This will help you to avoid any unexpected tax liabilities that without the management accounts might have only become apparent long after the accounting year end.
You must register your business for VAT if your turnover exceeds the £90,000 VAT registration threshold but you can also register voluntarily even if your turnover falls below this limit. I can offer advice regarding VAT registration and the type of VAT scheme that is most suited to your business needs. In addition to this I can help with the preparation of your VAT return ensuring that you are accurately recording your output VAT as well as maximising your claim for input VAT.
VAT can be quite complex and business owners are often unsure about what they can and cannot claim input VAT on, I can take this stress and worry away by calculating your VAT position for you. I can also submit your VAT return directly to HM Revenue and Customs on your behalf ensuring you don’t miss any important VAT reporting deadlines.
All VAT work is prepared using software that is compliant with Making Tax Digital.
The preparation of the payroll is an important function for any business and getting it wrong can affect employee morale. I can offer a full payroll processing service which includes providing you with payslips for your employees, payroll summaries, notifying you of your PAYE liabilities and ensuring the relevant data is submitted to HM Revenue and Customs in order to ensure compliance with the Real Time Information legislation. I will also ensure that you are applying the correct PAYE coding notices to your employees as well as making sure you are claiming the employment allowance if you are eligible to do so. For company directors I can also advise on the most tax efficient salary for you to take. In addition this I will also ensure that you are compliant with auto-enrolment and its reporting requirements and that you have an appropriate pension scheme in place.
Contractors are required to submit CIS (Construction Industry Scheme) returns to HM Revenue and Customs on a monthly basis and are faced with a late filing penalty of £100 for every late return that is submitted which can become very costly. I have worked with contractors for a number of years now, I can help business owners working in the construction industry reduce this monthly administration burden by offering a full CIS service which includes verifying your subcontractors, submitting your CIS return to HM Revenue and Customs on your behalf and providing you with payment and deduction statements for you to pass on to your subcontractors. I will also advise you of any CIS/PAYE liabilities that need to be paid over to HM Revenue and Customs.
You may also be considering moving to a computerised cloud accounting software and I can help you with this transition if required, I have experience in Sage, Quickbooks and Xero, these softwares are already compliant with Making Tax Digital legislation and I am able to help with training if required. As part of the training I will ensure that your software is setup with the correct opening balances so that you have an accurate starting point.
SJ Accounting will help your business to grow by providing excellent bookkeeping, accountancy and financial services to help you to run your business effectively.
CONTACT
C/O 19 Fore Street | Wellington | Somerset | England TA21 8AA
07738 262280
[email protected]
Developed by Gecho
