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Small business accountants and advisors

We’re a specialist firm of small business accountants and advisors. A well-established firm of chartered accountants, we providea range of accounting and tax services to small businesses operating across business sectors. Our aim is to provide high quality accounting and tax services to small businesses at affordable prices.As inflation starts biting, every penny counts.

Helping our clients to meet their compliance obligations in the UK, we’re committed to providingaccurate, prompt, and value-added service to our clients. We work with a range of clients with varying degrees of complexity, whether these are small and medium sized businesses ornon-resident owned businesses. Our specialist resources are of a highstandard, delivering quality when and where you need it.

We have the power and the resources to help you out with all your accounting, tax, payroll and bookkeeping needs regardless of whether you’re a one-man-band, a growing business or an established small business facing complex businesssituations.Our client-focused services range from basic bookkeeping, payroll and accountancy services, company formation and start-up services right up to corporation taxand vat compliance and advice. Whilst we’re based in Watford our clients are based all over the UK and include sole traders, self-employed persons, private limited companies, LLPs, general partnerships, and private individuals.

Why us?

With about three decades of experience in all areas accounting, tax and compliance, we understand the needs of smaller businesses, since we’re also small! As qualified chartered accountants we’re a member firm of ICAEW and the ACCA so you can count on us for competenceand trust us with your business affairs.

As specialist small business accountants,we’re uniquely positioned to provide all the services that a small business needs which include:

Bookkeeping services whether on our own software or on Xero, QuickBooks or other software
Accounting services such as preparation of your statutory accounts
Corporation tax
Companies House filings and company law compliance
Personal income tax return and advice
Property tax compliance and advice
Partnership tax compliance and advice
Capital gains tax return services and advice
Inheritance tax return and advice

For a small business with recurring compliance needs we offer anannualbundle that covers a suite of services at fixed fees so that there are no surprises, The all-in-one compliance bundle for small businesses wouldgenerally pretty much cover everything that a small business needs in terms of meeting their compliance obligations.

Services

Bookkeeping services

Our bookkeeping services could be tailored to suit particular client preferences in terms of how we do it:

Using cloud-based software which would allow the clients to log in from anywhere in the world and view their accounts and reports, or
Using our accredited software where we would prepare the accounts based on information provided to us by the client on our software. Accounts and reports arethen generated according to client needs.

Clients generally provide us with the data through secured digital means such as by use of file sharing platforms, by secured e-mails or by simply uploading on to our system.

In any case the last thing any business owner would wantis their valuable time and resources getting used up in mundane tasks such asbookkeeping and accounting. By allowing us to take the burden off non-core, yet important, sectors of compliance business owners are able to redeploy theirvaluable time and resources to focus on core business activities and drive value to your business.We aim to help business owners free up their valuable time for business purposes.

Value Added Taxacross Business Sectors

Value Added Tax or VAT for short is a major source of tax revenue for the government as it accounts for nearly a quarter of the tax receipts. Whilst any business making taxable supplies in excess of the VAT registration threshold of £85,000 over a 12-month period must register for VAT, the system is quite complex, full of special rules, exceptions and various business sector-specific schemes. VAT registered businesses generally need to file quarterly returns, but in some cases theannual accounting scheme means that you just need to file one VAT return per year. Elaborate rules are in place as how to account for input and output, the recent changes to the legislation has mandated record keeping in digital form. To make VAT administration easier there are some schemes available such as the flat rate scheme. Under this scheme only output VAT is accounted for by paying a single fixed percentage of the gross turnover as VAT and you don’t get relief for the input VAT paid. However, due to its abuse over the years, the scheme was so tweaked as to make it ineffective with the result that it’s no more popular. Cash Accounting Scheme (CAS) and the Annual Accounting Scheme (AAS) are another two further simplification options which are geared towards larger SMEs turning over up to £1.35 million annually. The CAS enables businesses to defer payments of tax liabilities, only charging them for VAT owed after they have had their invoices paid. There is also no need for businesses to notify HMRC if they want to use this option. Then there are schemes for retailers such as cash and carry businesses whose supplies include zero-rated and standard rated (20%) sales. To make it simpler they could use what is called apportionment scheme where VAT on sales are not based on the actual VAT collected but on the basis of VAT component involved in the purchases made.

Our service offer for businesses ranges from VAT registration to VAT accounting, preparing and filing VAT returns and advising on VAT queries.

Corporation Tax

Companies in the UK pay corporation tax on their profits which is currently 25% where the profits are more than £250,000. For small companies with profits up to £50,000 the corporation tax rate is 19%. Our corporation services are aimed at not only helping you comply with your corporation tax obligations on time and in an efficient manner but also help you save tax. With the introduction of a higher 25% tax rate some planning is essential to minimise the corporation tax bill. As with any other UK tax it gets complicated if there are associated companies and groups of companies. There are lots of ways in which we could help; by claiming reliefs such as R&D tax credit, capital allowances, loss reliefs and so on or setting up SEIS or EIS companies for start ups seeking tax advantageous investments.

Business incorporation

A private limited company is the most popular form of business organisation in the UK. A limited liability company insulates the owner from personal liabilities, start ups generally prefer to set up as companies. We could help you incorporate your company in the UK as also advise you on its ideal ownership structure, capitalisation.

Personal Tax

With personal income tax rate going as high as 45% and since it’s a system of self-assessment careful tax planning is required to minimise the personal tax bill. There are constant changes to the personal tax legislation which requires onerous reporting requirements. Personal tax situations can involve income tax, capital gains tax and inheritance tax matters. In helping you comply with your obligations we could also help you plan well ahead whether it’syour own, your family’s or your business's tax affairs.Our services cover a range of tax situations right from determining your tax residence status and domicile status to advising ontrust and inheritance, partnership tax, self-assessment or property tax. We could also liaise with HMRC on your behalf.

Self-Assessment Tax Return

As the system is one of self-assessing the tax liability often it’s advisable to leave it to the experts to avoid fines and penalties. We could help with all aspects of your tax return regardless of whether you have multiple streams of income andcapital gains or affairs in different tax jurisdictions. Our services include computing your tax liability, advising you on tax saving opportunities and preparing and filing your tax return. We could also help you by representing you before HMRC in the event of tax enquiries or investigations.

Partnership Tax

Partnership is yet another way a business could be organised into and is popular outside the company form. Regardless of whether this is about a general partnership or the limited liability (LLP) form, partners are individually responsible and liable for their personal tax obligationswhich is again subject to the self-assessment rules. Partnership taxation can be complicated due to various anti-avoidance legislation particularly when either partners include limited companies or employees. Again, as a business partnership taxation could involve multiple tax obligations whether on account of income tax, capital gains tax, inheritance tax or value added tax (VAT). Our services for partnerships include everything right from registering with HMRC as a partnership to LLP incorporation, drafting partnership agreement, tax compliance, VAT registration, preparation of accounts and tax advice.

Property Tax

With investment in properties offering high returns owning buy-to-let property is a relatively risk-freeinvestment. Property tax compliance includes compliance with income tax, capital gains tax, inheritance and stamp duty land tax (SDLT). Due to changes to the capital gains tax legislation involving non-residents and residential properties, property tax is a complex area. Our services include everything that landlord needs to meet their compliance obligations when buying the property, after letting it out, or after disposing it of.