Complying with the Law

All businesses have to adhere to the relevant statutory requirements in the running of the business. We can assist in a variety of ways depending on your business type.

Accounting records

Every business registered for VAT has to keep its records according to the guidelines laid down by HM Revenue and Customs (HMRC). Similarly, it is a requirement of the Companies Act that every company should keep proper accounting records. HMRC requires every business, no matter what its structure, to keep proper records for the calculation of tax liabilities. In some types of business, there are additional records which have to be kept to satisfy government requirements. If your records are inadequate in any of these areas, you could fall foul of the law.

Annual accounts

Every limited company and LLP is required to file annual accounts with Companies House laid out in a certain way and disclosing information specified by the Companies Act.

Annual audit

Another statutory requirement applying to limited companies and LLPs, except for certain companies with a turnover of less than £5.6 million, is the audit, which must be carried out every year by a registered auditor. Even when the audit is not a legal requirement, many businesses choose to have either a full audit review of their business or an assurance review because of the positive benefits it can provide in terms of reassurance and expert advice.

Bookkeeping

We can relieve you and your business of a significant burden by taking on all your bookkeeping and accounting needs by using our in-house bookkeeping bureau. Each business is treated individually and we tailor our approach to your requirements. As part of the bookkeeping service, we will complete your VAT returns, prepare payroll and any ad hoc projects.

Payroll

Running your own payroll can be time consuming, costly and complicated, with substantial penalties being levied for non-compliance with legislation. We can prepare your payroll including payslips, administration of all deductions, and the completion of all statutory returns.

Business Planning

We know that successful businesses are built by complete planning, from inception to exit. For this reason we have introduced our complete business planning system.

Business Inception

A business usually starts with a great idea. Most entrepreneurs however do not put these ideas into practice as the financial, legislative and administrative factors which go hand-in-hand with running a business are daunting. This is where we help with

  • Evaluation of the business idea and the feasibility of the business for the future
  • Structuring the business to ensure your tax liabilities are kept to a minimum
  • Prepare a business plan and various forecasts to prove the viability of your business
  • Assess your financing requirements and assist with the raising of finance for your venture to fund growth and to negotiate with funders for you
  • Help you establish relationships with key businesses via our network of contacts
  • Register your business to comply with all statutory requirements

Planning for Profit

Here we discuss the past performance of your business compared to your plans by finding out:

  • Whether the business will be profitable in the future and generate cash
  • Fine-tuning action plans to concentrate on areas that are showing adverse variances to the forecasts
  • Reviewing your forecasts and deciding on the need for financing

Managing Growth

This is the most important part of the planning process where we ensure your business is ready to grow in a planned and consistent way by

  • Ensuring proper and complete financial controls are in place
  • All accounting needs are met
  • All risks are fully understood and managed
  • Plans are further fine-tuned by comparison to your businesses own trends and your businesses competitors
  • Ensure sufficient funds are available to enable growth
Consultinghouse UK

Klaus Schottler, CPA

Managing Director
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Copyright Consultinghouse UK 2017
*Copyright Consultinghouse 2017. All services offered on this website are provided by Consultinghouse UK Limited. Consultinghouse UK is a boutique management consulting firm and professional services provider. Consultinghouse UK provides tax and management consulting as well as services with regard to accounting of current business activities, the generation of payslips, as well as the registration for payroll tax. For legal services please contact our cooperation partner http://www.counselhouse.eu.