Magpie Accountancy

Management accounts can be the most useful tool that your business has, providing you with:

An insight into your business performance
Key financial data
The ability to make informed business decisions
Profitability statistics
Figures to provide to third parties such as financial institutions
Aiding in business valuations
We will discuss your exact needs with you so as to be able to tailor reports to your specific requirements.

We can offer:

Monthly or quarterly management accounts
Profit and loss
Balance sheet
Ratio analysis
One-off reports required for a specific purpose

Accurate and timely bookkeeping is vital for accurate and up-to-date financial data, which is a key requirement in running a successful business.

Bookkeeping can be a time consuming process and a lot of business owners find that they simply cannot keep on top of this.

We can take the stress of this away from you, leaving you with more time to focus on you core business activities. We can provide bookkeeping on a weekly, monthly, quarterly or yearly basis.

We can work with any online system or provide basic bookkeeping on Excel. A list of online systems that we work with includes (but is not limited to):

Xero
Freeagent
Quickfile
Clearbooks
Sage Online

Whether you are a sole trader, partnership or limited company you will need accurate year-end accounts produced in a timely manner.

We will take your bookkeeping, check it for accuracy, make any tax efficiency adjustments and recommendations and produce year-end reports in a timely manner.

We will work with you to ensure that all of your compliance needs are met in-line with statutory deadlines.

Our aim is to work closely with you, maximising your profits and minimising your tax liabilities.

If you have people working for you then you need a payroll system in place.

We can prepare your payroll:

Monthly
4-weekly
Quarterly
Yearly
We will keep you up-to-date with national minimum wage requirements, statutory requirements and statutory deadlines. We will ensure that everything is always submitted on time and that you are acting within statutory law and guidelines.

We can also help you with your CIS (Construction industry Scheme) obligations.

We can calculate what your payroll liabilities will be before you take anyone on, helping you with your budgeting, provide net to gross calculations, advise on the most tax efficient directors salary, statutory sick pay and statutory maternity pay.

Everyone with an employee now has to think about the new auto-enrolment requirements.

We will work with you to ensure that your auto-enrolment compliance is met, having as little or as much input as you need.

What is auto-enrolment?

All employers are required to put their employees into a pension scheme and contribute towards this scheme. Of course your employees can choose to ‘opt-out’ but they must be given the choice and you are not allowed to influence their decision.

You can find out more information here:

http://www.thepensionsregulator.gov.uk/en/employers

Once your company accounts have been completed, we will calculate your company’s corporation tax and prepare the company tax return, ensuring that all statutory deadlines are met.

We will always be looking for ways to increase your tax efficiency and make tax-saving recommendations along the way.

The minimisation of a company’s corporation tax liabilities can help maximise the amount of funds available to reinvest in the business or to return to the shareholders

We keep up-to-date with the ever-changing statutory requirements and reporting framework regulations, so we are always in the optimal position to keep on top of things for you.

Whether you are a sole trader or just have personal investments such as shares or rental property we can complete your personal tax return and calculate all of your personal tax liabilities.

We will keep you up-to-date with regulatory changes and always notify you in advance of any impending changes. We send out a yearly budget update outlining the key points for your attention.

We will always be on the lookout for ways to minimise your personal tax liabilities and make relevant recommendations for you.

If you need a cash-flow forecast for any reason we are here to help. You may need this for finance purposes or just for your own internal budgeting purposes.

Cash-flow forecasts tend to be based upon a number of assumptions and we will always discuss these with you in-depth to ensure that the figures are as accurate as possible.

The purpose of these reports are to act as an indication of the actual cash going in and out of the business and showing your anticipated financial position at the end of a defined period. These can be prepared for any length of time to suit your business needs.

We are here to help with all your VAT requirements.

We can:

Prepare your VAT returns from scratch including all of your bookkeeping
Review VAT returns that you have prepared
Make all relevant VAT submissions
Answer all of your VAT related queries
Ensure you are meeting all statutory requirements
Keep you up-to-date with regulatory changes
Undertake a VAT review to ensure you are registered for the most tax-efficient scheme