Accounts Haven Ltd

Sick pay, maternity pay, staff loans, salary sacrifice schemes and tax code changes, all contribute to the complexity of even a small business’s payroll function. Adding to that are the statutory reporting requirements, which require specialist software. So, if payroll goes wrong, you’ll have both internal and external issues to deal with – and possibly fines to pay. I can remove that whole burden away from you. Using the right payroll software, I will ensure that you have the information so that you can pay your employees on time and provide accurate pay slips – giving you complete peace of mind.

After you have received your new company’s registration number from Companies House, I can register your new company with HM Revenue and Customs for VAT, Corporation Tax and PAYE. I will then create and submit your statutory reports to HMRC, such as Real Time Information (RTI) PAYE submission, which is due every time you pay your employees. I will ensure your quarterly VAT returns and annual Corporation Tax returns are accurate and filed on time.

While it may seem premature to plan for reducing taxes as you are just getting off the ground, there are a few key tax-related decisions that are worth taking right from the beginning for many start-ups and their founders. Although, tax planning is not always straightforward, it is likely that you and your company could ensure your income and profits are taxed at the lowest legal level. I can advise you on various issues you might be able to benefit from, such as directors’ remuneration v taking dividends, annual investment allowance, tax-free staff benefits and R&D tax credit.

If you run a business, you are required to prepare annual accounts. The accounts will form the basis of your tax calculations – so it is important to get them right! You will also be required to file accurate accounts with Companies House. The requirements and information can vary from company to company, but strict deadlines and format are expected. I can produce such accounts and manage this process for you.

Although you are only legally obliged to produce accounts annually, perhaps you don't want to wait until the end of the year to find out how your business has performed, nor how much that dreaded tax bill is. Poor tracking of your financial position can lead to business failure and a great deal of stress.

The outsourced finance department gives your company everything you would expect from your bookkeeper and accountant in one convenient package. I will take responsibility for your numbers, handling your transactions, pulling together your accounts and filing your taxes. I also institute tried-and-tested financial processes and controls, so that your finances are well-managed at all times, no matter who’s handling them.
What you could expect to receive as part of this package includes:
1. Sales Ledger, Purchase Ledger and Bank Reconciliation
2. Credit Control Management
3. Producing monthly/quarterly management accounts

As a business owner, you know your work inside out. But you do not necessarily have the financial background to understand your company’s financial position in-depth and the financial implications of every move you take, which will hold your business back in the long run. That is why every corporate relies on a finance director who can help the business leaders understand the financial side of their company. But there is no need to wait until you are a big corporate. This is a service you can have today - I can provide regular financial updates to keep you informed allowing you to make the right decisions at the right time and giving you a competitive advantage and more profitability.

Specific tasks might include:
1. Interpreting your management accounts, so you understand your company’s exact financial position and make the best financial decisions for your future
2. Presenting your management accounts in board meetings and giving you my professional view and feedback
3. Budgeting and forecasting to help you think about and achieve your goals
4. Cash forecasting and management to ensure your cashflow is smooth and planned so you are not caught out by an unexpected funding problem
5. Overseeing your financial compliance – when new accounting and tax laws come into force
6. Stakeholder Relationship Management – when you need to secure funding
7. When it is time to transition to an employed Finance Director, I can support the business through that change