Blue Sky Accountancy Services
Smethwick, Sandwell, West Midlands
Blue Sky Accountancy Services provide local businesses with cost effective and efficient accountancy, bookkeeping and payroll services designed to remove your financial administration worries. We offer a low cost, simple but professional way to help manage and control your business finances. We are committed to providing a first class service tailored to your needs. Our cloud-based accountancy systems provide our clients with real-time accessibility to their finances meaning they can keep track of their finances at all times.
Blue Sky are ICAEW Chartered Accountants.
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Blue Sky Accountancy Services
What kind of accounting services do you provide?
Corporation Tax Services
Management Accounts & Reporting
R&D Tax Credits
Why is it so important for businesses to hire a great accountant?
Choosing the right accountant will ensure your business saves both time and money. A good accountant will not only handle your financial records but also offer professional business advice on a whole range of other topics, leaving you time to focus on the day-to-day running and future growth of your business.
What do you love most about your job?
I take comfort in the fact that each client is allocated its own dedicated team assigned to assist them at all times ensuring a personal and interactive relationship is formed. I enjoy the fact we become an integral part of our clients business. In addition to the one-to-one accountancy services, Blue Sky also provides a wealth of business and financial knowledge and expertise that can benefit our client as their business develops, ensuring the future success of the business.
Why should our clients choose you?
Our highly experienced team are always on-hand to assist and our services are tailored to meet the specific requirements of your business.
If you are looking for proactive and informed support to help grow your profits, prepare for raising finance, lower your tax bills or manage your day-to-day finances then contact us to find out how we can help you achieve this.
We are authorised and regulated by the Institute of Chartered Accountants England and Wales (ICAEW) and offer accounting solutions on Xero, Quickbook and Sage.
In today’s complex financial and business world, every business needs reliable and professional help managing their business. Not only is it necessary to ensure that everything is accounted for in compliance with the various statutory requirements, it is also important to make the most of every opportunity to maximise your income and minimise your expenditure. At Blue Sky we are committed to providing a first class service tailored to your needs which are flexible and cost effective. You pay for the services you use and save money on in-house specialist staff and expensive offices. Keith Greenaway, Managing Director of SNAP Education, said: “ ….. by using Blue Sky’s expertise to reduce the burden of the financial accounting requirements, we are left with the necessary time to focus on the day-to-day running and future growth of the business.” If you are a small business owner looking for an affordable bookkeeping service, delivered on time and in a professional manner then why not contact Blue Sky for a confidential, no obligation chat? Our bookkeeping services includes:- Bank reconciliation Management accounts VAT returns
With the introduction of Corporation Tax Self Assessment (CTSA), companies now need to fully understand the duties and responsibilities placed on them under this regime. We offer advice on:- Record keeping requirements Minimising the overall liability All relevant claims and deductions Calculation of the corporation tax liability Corporation tax payment deadlines Form CT600 filing deadlines CTSA enquiry parameters The penalty system R&D tax credits Agreeing your corporation tax liability with the Inland Revenue is principally achieved by completing a company tax return. Understanding this complicated tax system and paying the correct amount of tax, at the correct time, through the correct mechanism, is what most clients seek. Speak to our experienced tax technicians and put your mind at ease. We will also seek to identify means to reduce your tax liability.
Free your time by delegating your payroll processing to professional outsourced service providers. As payroll becomes more and more complex, time consuming to process and expensive to operate, many businesses are now outsourcing this tax administration function to a specialist service provider. As outsourced payroll service providers we are responsible for wages processing, PAYE/NI compliance, all IT issues, stationery procurement and maintaining the general confidentiality of this sensitive information. We offer a complete payroll bureau facility, to free your time and allow you to concentrate on running your business:- You advise us of the gross pay, for a weekly, fortnightly, four weekly, monthly or quarterly pay periods. We calculate the net pay, supply you with security payslips and advise you how much PAYE and NI to pay the Inland Revenue We can advise you in relation to the legal requirements for offering your employees access to stakeholder pensions We prepare all necessary forms when an employee leaves Preparing end of year returns P35 and P60/P14s, before filing these with the Inland Revenue in advance of the statutory deadlines Providing ongoing ad-hoc support for all of your wages queries Preparing forms P11d and calculating the resultant class 1a NI liability Advising you in relation to the payroll implications of IR35 Advising you of the journals necessary to update your computerised accounting records Tax efficient remuneration planning As well as releasing your time and ensuring the quality of wages administration, outsourcing this function will usually save you money. We will be responsible for software updates, purchasing stationery and staff absenteeism cover. We will also ensure that you pay no more PAYE/NI tax than you absolutely have to.
Blue Sky can help you with the design, content, format, preparation and circulation of the weekly, monthly, quarterly management accounts that are produced to assist in the internal management of your company. Although the primary aim of such internal management accounts is to report the performance and financial position of the business to management, we can structure this reporting to also advise you on the following:- Divisional/Branch results The creation of an annual budget and the reporting of actual performance against this budget Reporting performance against comparative periods The identification and reporting of key performance indicators (KPIs) and key performance ratios Costing information, including break-even turnover levels Attending finance/management meetings to report on the management accounts and advise accordingly Managing and improving a business requires timely and accurate financial information. Reduce your cost base, and release your valuable time, by outsourcing this key support service to us. As well as giving you peace of mind that this side of the business will now run smoothly, this will also enable us to offer valuable advice on the future running of the business.
Every company is required to prepare statutory accounts – to comply with Companies Acts and HM Revenue & Customs legislation. Statutory Accounts provide shareholders, investors, creditors and other interested people information about the company’s financial position and dependent upon the size of the business, typically include: Accounting policies Balance Sheet Cash-flow Statement Director’s Report General Company Information Profit & Loss account Notes to the Annual Accounts These accounts have to be filed at Companies House within 9 months of the year end.
All businesses regardless of their size need to accurately record their accounting transactions during the course of the year to ensure that they comply with tax legislation. It is critical your accounting records are kept up-to-date and that VAT Returns, if applicable, are prepared and submitted on time, quarterly or monthly to avoid automatic penalties for late filing. It also helps you deal with any queries if a VAT inspection takes place. VAT inspections can be stressful and time consuming so having Blue Sky staff prepare your VAT Returns can reduce the risk of a VAT inspection. If there is an inspection we can assist you to ensure that an inspection is completed as quickly as possible and with minimal disruption to you.
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