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Tailor-made Accountancy Services
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Chartered Certified Accountant,
South London UK
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Our policy is to discuss our clients requirements with them
and agree an overall package from the various services which
we offer. However we are not constrained by the services described.
We are happy to discuss any services which our clients may
require.
BUSINESS NEEDS ANALYSIS
Business Needs Analysis (BNA) looks at the key business
and personal issues of the client. It is a simple and pain
free process involving the comletion by the client of a BNA
quesytionnaire. This is done at our premises and takes approx.
one hour. The BNA enables the client to identify key problems
and issues and an inital report is produced summarizing all
the areas that need attending together with our recommendations.
This is a FREE SERVICE!
We then meet with the client to discuss the issues raised
in the report and to perpare a detailed Action Plan which:
• Lists the priority of actions to be taken and nominates
who will undertake the tasks required
• Sets clear time deadlines to complete the tasks
A typical report covers the following areas:
• Asset Protection
• Marketing
• Estate Planning
• Profit Improvement Planning
• Management Control
TAXATION
We offer a complete taxation service, which ranges from
completing tax returns to advising on future tax planning.
The service is comprehensive and covers both income and capital
taxes for corporate clients, individuals, partnerships and
trusts.
Tax law changes rapidly. It is therefore essential to keep
policies under review in case any modifications may be desirable.
Corporation Tax
We normally aim to review each company's tax position before
the year-end. This provides an opportunity for planning and
assessing the respective merits of different strategies.
Income Tax
We can assist in all areas of income tax. Tax planning can
be vitally important and we encourage clients to discuss the
taxation consequences of major decisions at an early stage.
As a matter of deliberate policy the Inland Revenue are
concentrating resources on an increasing number of in-depth
investigations and examinations of some business practices.
Should you become involved in such an investigation we can
assist you in your dealings with the Revenue.
PAYE
The Inland Revenue have special teams which regularly investigate
employers' PAYE systems. Particular problem areas are items
such as: returns of employees' benefits, the treatment of
company cars, casual labour and directors loans.
Capital Gains Tax
We can help you to make the best possible use of the reliefs
available to you.
A client's tax position is also likely to affect the choice
of suitable investments available to the client. We are happy
to work with specialist advisors in arranging the most suitable
investment strategy for the client.
Inheritance Tax
Estate planning normally involves many different aspects
of a client's financial affairs. Experience indicates that
our central coordinating role can be crucial, even though
the various facets of the matter are being handled by respective
specialists.
ACCOUNTANCY
The preparation and accounts is at the heart of
any accounting practice.
Among the principal reasons for formal accounts are:-
- To fulfill the statutory obligation to prepare accounts
in the format required by law.
- To give a proper picture of the financial situation of
the business both owners and management.
- To give the data on which banks, suppliers and other outsiders
dealing with the business assess the firm's financial standing.
- To provide the basis for the Inland Revenue to determine
the tax liability.
- To give the required statutory information to shareholders
and the Registrar of Companies.
For many clients, the account is the core of an independent
and objective review of the company's position. We therefore
like to be thoroughly familiar with the aims and specific
nature of each client's business.
Where we also provide a management accountancy service this
review is a continuous process, although formalised after
the year end with preparation of formal statutory accounts
if the client requires.
This is practical and tailored to the size and nature of the
client's business. As well as tax it covers such areas as
security, insurance, finance, accounting systems, stock levels,
debtors and creditors, director's and employee's remuneration,
cash flow control, pensions and also help in the preparation
of future business plans.
Depending upon the size and nature of the business (and
the client's preferences) the review may be written or as
part of the meeting with the client when the accounts are
finalised.
MANAGEMENT ACCOUNTS AND
REPORTS
Management accounts are an essential tool in monitoring
the success (or otherwise) of any venture. Without regular
up-to-date and reliable information it may be impossible to
recognise potential problems and take corrective action in
time.
Our aim is always to provide the information needed by the
client in the required form. We will therefore discuss the
requirements in advance with our clients in order to determine
their needs. As the needs of the clients' change, or are reappraised
we can adapt our service to suit.
Timing
We will agree with the client
- How frequently accounts will be required (i.e. monthly
or quarterly).
- When the necessary information should be provided to us.
- How quickly the accounts are to be produced after the
ends of the relevant periods.
We take a particular pride in our ability to regularly meet
tight deadlines, for example when the client required the
information in order to carry out other time critical functions.
The accounts supplied will normally include:
- Monthly or quarterly trading and profit and loss accounts
(analysed into headings agreed with the client).
- Balance Sheet at the end of the period.
- Trial Balance.
- Nominal ledger print-out.
BOOK-KEEPING AND VAT
We provide a full range of book-keeping services. Our aim
is always to tailor the service to the particular requirements
of the client concerned.
Many clients find it useful for us to carry out their entire
book-keeping functions, including writing cheques to pay suppliers,
sending out statements to debtors, etc. Others use our services
for just one or two specific aspects. Our systems can be readily
adapted to the needs of particular clients.
Clearly whilst certain information must be available (for
example, to meet VAT regulations), no two businesses are the
same in the way they want to use the information. By discussing
the needs with the client, we can ascertain the necessary
requirements and tailor the systems to the information required
by the client.
All our systems are accepted by H.M. Customs & Excise
for the purposes of complying with VAT regulations.
VAT
We offer advice as required on all aspects of Value Added
Tax.
Within our service, we will
- Complete all VAT Returns.
- Raise cheques as necessary for payment of VAT on due dates.
- Forward the completed VAT Return and payment (if required)
to the VAT Central Processing Centre.
Under current legislation traders can be heavily penalised
if they are late with VAT Returns. We are pleased to assist
in reviewing procedures to help avoid such problems.
As well as routine VAT inspections, Customs & Excise
increasingly conduct in-depth investigations and we can assist
in handling such problems.
PAYROLL
An accurate and well ordered procedure for dealing with
the weekly or monthly payroll is obviously a necessity for
any business. But for many firms it is a tedious, time-consuming
routine function.
Over the past few years the keeping of even the simplest
payroll has become more and more complex. Employers are now
not only required to deduct tax and national insurance contributions
from their employees pay, but also to be responsible for the
payment of statutory sick pay and statutory maternity pay,
deducting pension payments and keeping all the necessary records.
Added to this, the returns required by the Inland Revenue
in respect of national insurance contributions have also become
more involved and require the earnings on which employees
contributions are payable to be recorded; this is not always
necessarily the gross pay, which may be below or above the
relevant limits.
With the recent encouragement to employers to set up contracted-out
pension schemes, the records required are even more involved,
with details of employees contracted-out contributions and
their earnings, to which contracted-out rate contributions
apply also being recorded.
Our payroll service can handle all this, and more.
We offer a complete service from the setting up of a PAYE
scheme for new employees, keeping all the necessary records
and preparing weekly or monthly pay slips, calculating SSP
and SMP due, preparing P45's for employees leaving and sending
all necessary forms to the Inspector of Taxes.
At the end of the year we will prepare the P35 return together
with the relevant P14's and P60's, which are sent to the clients
for signature and then submitted to the Inland Revenue with
all the required forms.
COMPUTER CONSULTANCY
Computers can help many businesses to become more efficient,
but a system, which is not suitable for the business, poorly
designed or badly implemented, can have disastrous consequences.
Our specialists will discuss a client's requirements familiarising
themselves fully with all relevant parts of the business.
Once fully familiar with the client's situation, we will
then advise on the systems suitable for the client's needs.
We can supply all the relevant hardware and equipment.
FINANCIAL SERVICES
Both businesses and individuals need impartial advice on many
aspects of financial services, whether in terms of raising
finance, provision for the future or investment.
We are well placed to provide this advice, especially since
the taxation implications will often have a significant influence
on the range of options available to the client.
We have good working contacts with various specialist advisers
as well as with providers of finance. In addition to contacts
with the clearing banks we now have contacts with specialist
financial institutions.
Mortgages and finance
Determining how much to borrow, and the type of borrowing
which is most appropriate and advantageous, is not always
straightforward for many clients. We can advise on these matters
and - if required - introduce the client to suitable sources
of finance.
We can often help in the preparation of suitable proposals
for submission to potential lenders in support of applications
for business finance. If the client wishes we will also assist
them in the negotiations with the lenders.
Corporate Finance
We can assist Companies in raising finance. Typically this
ill involve preparing a formal business plan (See Business
needs Analysis), which we will do in conjunction with the
client.The financial part of the plan will usually be done
using Sage Winforecast, a sophisticated program which provides
noronly the ability to prepare the Profit & Loss Acount,
Cash Flow Statements and Balance Sheets, but also to monitor
the Actual results in the future, thus assisting the client
in meeting their targets.We have raised finance for clients
recently for a number of reasons including the following:
We have also assisted clients on a number of occasions to
raise additional Capital from the issuing of shares either
by a private placing or through Corporate Advisers & Brokers
and applying to have the shares traded on Offex Overdraft
to finance working capital requirements.
• Factoring to improve debt collection and finance increasing
debtors
• Business Development loans to meet capital requirements
• Lease finance for vehicles, computers and equipment
Pensions
Traditionally pension plans are, as the name implies, a
means of providing retirement income. For many clients such
schemes are now also an important element in their overall
tax planning. It is very important that pension plans, whether
a self-administered scheme or an insured scheme, are carefully
integrated into the overall financial planning, with due consideration
to the requirements of the individual concerned and his or
her business.
CASH MANAGEMENT
Control of debtors and of creditor payments is vital to effective
cash management, thereby maximising the use of the cash resources
of the business (or minimising the levels of overdraft used)
and therefore achieving the most favourable interest position.
We are able to discuss cash flow procedures and can also
give advice in respect of investing any surplus funds.
MANAGEMENT CONSULTANCY
Our management consultancy services are based upon the management
accounts and associated reports. With the client we will assist
in setting and preparing budgets and business plans.
The management accounts will be regularly reviewed and,
in the light of the targets already decided, programmes will
be agreed for the control of expenditure and the monitoring
and control of overhead expenses.
Items, which are commonly considered, include:
- Deciding on plans for expansion and diversification.
- Consolidation of existing areas of activity.
- Identification of existing areas of business, which are
unprofitable, or branches, which are not making the best use
of the resources, committed to them.
- The extent to which targets are being achieved and consideration
of whether those targets require revision.
- The comparative profitability and performance of different
aspects of the business.
- Assisting the client in negotiations with suppliers, customers,
sub-contractors, main contractors, etc.
- Negotiating with providers of finance.
- Consideration of joint ventures with other businesses,
amalgamations, divestments, etc.
- Ways in which procedures can be improved to obtain better
information concerning the relative performance of different
cost centres, reduce duplication of work, define responsibilities
more clearly and improve the efficiency of the business.
We are happy to be consulted on all areas of a business's
activity. From our wide experience of many different types
of business we can often bring a fresh outlook to a firm's
problems and suggest solutions, which may not have been apparent
to those more closely involved in the particular business.
COMPANY SECRETARIAL
Clients can easily overlook the detailed formalities of
administering companies. The authorities are increasingly
tightening up requirements and the enforcement of those duties.
It is important for a company's statutory affairs to be dealt
with properly. We provide an efficient and cost-effective
service to assist clients with these responsibilities.
Our services include:
- Company formations.
- Changes of company name.
- Company names and trading names.
- Changes in capital structure.
- Nominee services.
- Agency services.
- Share transfers and registration.
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