RJF

As a limited company, you are required to prepare statutory accounts and submit these to Companies House annually. This is all included within your quote and you will have peace of mind knowing that this is all taken care of for you. You are also required to file a Corporation Tax Return annually with HMRC. We’ll take care of everything that HMRC require and inform you of the corporation tax payment required in plenty of time.

We will be preparing and submitting your quarterly VAT returns ongoing, meaning that you will be well aware of your VAT liabilities and keep the VAT-man happy! We’re not just filing a bunch of number though, we take a 4 step approach to our VAT Returns service:

1. Create a recurring quarterly job in our job management system so we NEVER miss a deadline and begin work on the VAT return the day after the quarter end

2. Carry out an audit of ALL transactions for the period - check that purchase VAT has been claimed on every transaction that it should have been and conversely that it hasn't been claimed where it shouldn't have been

3. Ensure that you are on the best scheme to maximise your cashflow - Cash or Accruals. Also keep an eye on going over the threshold at which you HAVE to move to accruals by obligation

4. Send you notification of the amount due within 3 weeks of the quarter end, giving you 2 weeks notice of the amount to be taken automatically via direct debit 5. File the VAT return on time, every time 

Along with preparing the company accounts and tax returns, we will also prepare your personal Directors tax returns. These are required to declare your personal income (Salary & Dividends) for the year.

Monthly preparation and filing of the company payroll to HMRC and providing payslips to employees. We will also advise on opportunities to reduce your PAYE bill, such as the £3k employers allowance that is currently available to reduce your employers national insurance bill.

We’ll set up an accounts@ email and arrange for all of your suppliers to send their invoices there. We’ll login regularly and post those invoices into your Xero accounting system so your payables list is always up to date and we’re ensuring up to date reporting. The fees charged are based on the agreed number of purchase invoices that we will post, shown in the proposal, and that number will be reviewed every 3 months and the fees adjusted accordingly.

Xero charge a monthly subscription for using their software. Rather than paying multiple invoices for Xero and Accountancy, this allows you to consolidate everything into one monthly fee so you have just one payment coming out of your account each month.

We believe that every business should have a 12 month financial budget to plan where you want to be heading. This gives direction to the board and the entire team as to what the business is trying to achieve so you are all working in sync. We’ll also create, manage and update a rolling 12 month 3 way forecast of profit & loss, cashflow and the balance sheet so you always know what the future financial performance and position of the business looks like, based on what we already know today (committed sales and costs). This is about bringing the future into the present so you can do something about it.

Rather than a set of accounts just once a year, you receive a fully reconciled set of accounts each month or each quarter, with a report pack containing your Profit & Loss account, Balance Sheet, Aged Debtors & Creditors, Cashflow Summary and an Executive Summary giving you the top-level information. We can also add in any further reports required (budget analysis, departmental reporting etc). Alongside the report pack, the main value we add is our analysis and commentary on the monthly or quarterly performance, as your external trusted advisers.

Preparation and online submission of your personal tax return, calculating your tax bills and advising you on how much tax to pay and when; completing a personal tax return is not just form filling - we follow a 10-step process in order to complete your personal tax return for you:

Supply you with a Tax Return Checklist to save you time in getting together all the information we will need.
We then use the information and explanations you give us to complete your Personal Tax Return.
We also calculate your personal tax bills and payments on account so that you know exactly how much to pay and when to pay in order to avoid penalties and interest.
With the exception of tax credits, we will advise you on possible claims and elections arising from your Personal Tax Return and from information supplied by you, in order to minimise your personal tax bills. Where you subsequently instruct us, we will make such claims and elections in the form and manner required by HM Revenue & Customs.
Once you have given us your written approval, we will submit your Personal Tax Return return to HM Revenue & Customs.
We will file your Personal Tax Return online - the benefits to you being: You’ll know exactly when HM Revenue & Customs received it, the risk of “human error” processing mistakes by HM Revenue & Customs will be minimised and if you’re entitled to a tax repayment, you’ll receive your refund much quicker
We will check HM Revenue & Customs’ calculation of your tax bills and initiate repayment claims if you have overpaid.
If you’re entitled to a tax refund, we’ll ask you for your bank account details so that we can transfer any refunds to you electronically – you’ll get your money back from HM Revenue & Customs without the hassle of visiting your bank or waiting for funds to clear.
We’ll deal with all communications relating to your Personal Tax Return that are directly addressed to us by HM Revenue & Customs, or forwarded to us by you.
By preparing your Personal Tax Return, you’ll automatically be covered by our tax investigation insurance policy (worth up to £75,000). As a result, you’ll not have to pay any extra fees for our help in the event of a full or aspect enquiry into your tax affairs by HM Revenue & Customs. You’ll therefore have complete peace of mind from knowing that there’ll be no extra charges if we ever do need to help you deal with the most common forms of tax investigation.

What you agree to do and be responsible for

You are legally responsible for:
Ensuring your Personal Tax Returns are correct and complete
Filing your Personal Tax Return by the due date
Making any payments of tax due in full and on time - failure to do so will result in automatic penalties and interest being charged
Taxpayers who sign their Personal Tax Return cannot delegate this legal responsibility to others. You agree to check that the Personal Tax Returns we have prepared for you are correct and complete before you approve them for submission and sign them as such.
You authorise us to file your Personal Tax Returns online.
To enable us to carry out our work, you agree:
That all Personal Tax Returns are to be prepared on the basis of full disclosure of all sources of personal income, charges, allowances and capital transactions;
To provide us will all the information necessary so that we can deal with your affairs. We’ll rely on the information and documents you’ve supplied us with being true, correct and complete – we will not audit this information or your documents;
That you will tell us about any specific conditions that HM Revenue & Customs have imposed upon you;
To authorise us to approach such third parties as may be appropriate for information that we consider necessary to deal with your affairs;
To provide us with information in sufficient time for your Personal Tax Return to be completed and submitted by its due date. In order for us to meet this due date, we must receive all of the relevant information by 31 October after the relevant tax year has ended;
If, for any reason, we don’t receive all of the relevant information by this date, we may, at our discretion and depending on our work capacity, endeavour to complete your Personal Tax Return so it can be submitted on time. We reserve the right to levy an additional 25%charge where we are asked to carry out such last minute work and will advise you of this charge prior to carrying out the work.
You agree to tell us if either you or your partner were in receipt of Child Benefit at any time during the tax year as you may be liable to the “High Income Child Benefit Charge” dependent upon your income. This includes telling us the amounts of Child Benefit Received and, if applicable, any changes to your relationship status during the tax year. Please be advised that the tax definition of a partner is wide-ranging and includes spouses and civil partners (who you are not separated from) as well as any person (male or female) who has lived with you/who you have lived with as husband/wife/civil partner.
You will keep us informed of any changes in your personal circumstances that could affect your tax position. If you’re unsure about whether a change will affect your tax position, then we will be happy to advise you.
You agree to forward to us any communications you receive from HM Revenue & Customs in enough time for us to be able to deal with them appropriately and within any time limits stipulated. Such communications could include Statements of Account, Notices of Assessment and other letters. Although HM Revenue & Customs have the authority to deal with us directly, it’s still possible that they may contact you directly without copying us in.

You and your spouse/partner

Because of the possible effect on your tax position and so that we are able to act in your best interests, we will advise you and your spouse/partner on the basis that you are a family unit. This means that we may deal directly with either of you and discuss with either of you each other’s tax liabilities and financial affairs. We will assume that you agree to this unless you tell us otherwise.
So that we can act for you as a couple in respect of any joint claims, then unless you specifically tell us otherwise, we will take any instructions, information or explanations that either of you give us about any claim to be on behalf of you both. We will also treat any documents re. joint claims that are signed by either of you to be on behalf of both of you, unless you specifically tell us otherwise.
If, for any reason, a conflict of interest arises between you and your spouse/partner, then we reserve the right to advise one or other of you to seek independent advice, or to stop acting for both of you."