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