Companies and the self employed are required to produce accounts on an annual basis for tax purposes. For ‘limited companies’ the accounts must be filed at Companies House. Aspire Accountancy Services are able to provide this service for most business sectors.
In addition to preparing annual accounts we can produce the following for a variety of purposes:
Monthly, quarterley or half yearly accounts for management purposes
Cash flow forecast preparation
Preparation of profit projections
With the ever increasing complexity of taxation and employment legislation along with penalties for non-compliance can be at the very least daunting to the in experienced business person and time consuming to all companies.
Letting Aspire Accountancy Service relieve you of the these pressures and worries leaves you to devote your time to your area of expertise.
Our comprehensive and confidential payroll services include:
- Calculation of employees net pay on a basis of your choice – either monthly, fortnightly or weekly.
- Calculation of monthly PAYE
- Computation of tax credits
- Application for tax credit funding where required
- Statutory Sick Pay (SSP)
- Statutory Maternity & Paternity Pay (SMP & SPP)
- Completion of P46’s for new employees
- Completion of P45’s for existing employees
- Preparation of year end P14’s and P60’s
- Completion of year end employers annual return form P35
We can offer comprehensive advice and relieve the burden of having to take care of the book keeping in house. Businesses, for many reasons, take on external book keeping and accountancy services, however, the most important part of this service is preparation of management accounts. These are vital to the continued success of your business.
We will review your current book keeping systems and spend time understanding your needs and your business in order to suggest the right solution for you.
Business Start Up
If you have an excellent idea or are skilled in a particular area and want to start up your own business, we are able to assist with business start ups by assesing the original idea and work with you to evaluate the possible outcome of any venture.
We can also help you:
Decide on the most suitable structure for your business whether it be sole trader, a partnership or a limited company.
Prepare a business plan, profit forecasts, cash flow forecasts and budgets
Complete and registration with Companies House or HM Revenue & Customs
Deal with any company secretarial issues
Set up a recording system for your internal use and for complying with statutory requirements
Limited Company Services
Our services available to Limited Companies are as follows:
Company formation, including completion of statutory books and share certificates
Annual return completion
Audit exemption report company accounts
Dormant company accounts
Corporation tax computations
Company tax return completion
If you are self employed, after your annual accounts have been prepared, we can prepare your self assessment tax return together with a computation of your tax liability.
However, it is not just your business income which has to be recorded on your return. Your tax return has to include all sources of income, and is used to claim allowances to reduce your tax liability.
If you are in a business partnership we can also complete the partnership tax return for your business.
It’s not just people ‘in business’ that may receive a self assessment tax return. If a return is issued it is a legal requirement for it to be completed and submitted to the Inland Revenue. We can also prepare your tax return and tax computation should you not be in business, but require tax assistance.
If you feel you have paid too much tax and you have not received a tax return, we can prepare a review of you taxable income and allowances to calculate if you are entitled to a tax refund.
For limited companies, we can prepare the corporation tax computations and deal with the company tax return.
The Inland Revenue on-line services is our preferred method of submitting tax returns. An added advantage of this is that where a tax refund is due, it ensures a speedier response.
Being one of the most complex of taxes ever imposed on businesses our professional services can keep a trained eye on your VAT calculations. This can be rewarding as you don’t have to worry about VAT inspections uncovering errors which could cost not only back tax, but interest and penalties too.
We can provide:
Assistance with VAT registration
Advice on VAT planning
Advice on the use of the most appropriate scheme
VAT control and reconciliation
Planning to help you minimise future problems with HM Revenue & Customs
Assistance in negotiating with HM Revenue & Customs in case of disputes
Aspire Accountancy Services is a member of the Sage Accountants Club. By being a member we can offer discounted software prices.
Sage is a world leading supplier of accounting, payroll and retail software for small and medium sized companies.
Over 500,000 UK companies, from start ups to household names, already rely on Sage to help run their business.
We will help you to choose the Sage package that is most suitable for your business and help you to set it up so that it is tailored specifically to your needs. We can also provide on going training.