Services we provide
With each engagement letter we include schedules detailing the specific services that we have agreed to provide. On this page are extracts from some of those schedules.
There are other services that we provide but these are some of the more popular.
Payroll
We will prepare your UK payroll for each payroll period to meet UK employment tax requirements, specifically:
- Calculating the pay as you earn (PAYE) deductions;
- Calculating the employees' National Insurance Contributions (NIC) deductions;
- Calculating the employee's NIC liabilities;
- Calculating statutory payments, for example, Statutory Sick Pay and/or Statutory Maternity Pay; and
- Calculating student loan and other statutory and non statutory deductions
We will prepare and send to you the following documents for each payroll period at or before the time of payment:
- Payroll summary report showing the reconciliation from gross to net for each employee and all relevant payroll totals;
- A payslip for each employee unless not required;
- A P45 for each leaver; and
- A report showing your PAYE and NIC liability and due date for payment.
We will prepare and send to you the following documents by the statutory due dates at the end of the payroll year:
- A summary of the annual employer?s declarations, including the total payroll payments and deductions for your approval before the year end online declaration is made to HMRC;
- P14 or P60 for all staff who were on the payroll during the payroll year.
We will electronically submit your annual declaration and forms P14 after you have approved them.
Benefits in kind returns
These returns include forms P11d and p9d and declaration P11d(b) and calculation of class 1a national insurance contributions.
We will prepare or review forms P11D and P9D as may be required for each employee including directors based on the accounts, information and explanations provided to us on your behalf. We will submit the forms P11D and P9D with the form P11D(b) after the form P11D(b) has been approved by you. We will normally make the submission electronically.
We will prepare and send to you the P11D information for you to forward to your employees and directors by the statutory due date.
We will calculate your Class 1A NIC liability on the benefits returned in forms P11D that you are obliged to pay HMRC by the due date and send payment instructions to you.
Payroll inspections
We will assist you with an HMRC payroll inspection or enquiry into the payroll returns.
VAT registration
A business is liable to register for Value Added Tax if its taxable turnover for any period of twelve months has exceeded the registration threshold. A business may be excused from registration if the turnover was exceptionally high and the forecast turnover for the next twelve months is below the de-registration threshold. A business may register voluntarily if it is already making taxable sales or can provide evidence of the intention to make taxable sales. Exceptionally, a business selling large value items, for example a house builder, may be liable to register before its first sale.
The VAT registration limit normally changes on 1 April. From 1 April 2009, the registration limit is £68,000.
You should notify us in good time to enable us to prepare the VAT registration application within one month of you exceeding the VAT registration threshold.
We will assist you with the VAT registration process. We will normally submit the registration application electronically and, from 1 April 2010, that will be compulsory. We will advise you about the flat-rate scheme and cash accounting.
When required, we will assist you with de-registering for VAT.
VAT returns
We will prepare or review your quarterly VAT returns based on the information and explanations supplied by you.
Based on the information that you provide to us we will tell you how much you should pay and when. If appropriate we will initiate repayment claims where tax has been overpaid. We will advise on the interest and penalty implications if VAT is paid late.
Where appropriate we will calculate the partial exemption annual adjustment. This annual adjustment will normally be made in the quarter ending 31 March, 30 April or 31 May.
Where appropriate we will calculate the annual Capital Goods Scheme adjustment.
We will forward to you the completed return calculations for you to review, before you approve the VAT return for onward transmission to HMRC.
VAT advice
Examples of such work include:
- Reviewing and advising a suitable partial exemption method to use in preparing the return;
- Dealing with all communications relating to your VAT returns addressed to us by HMRC or passed to us by you;
- Making recommendations to you about the use of cash accounting, annual accounting, flat rate and other special methods of accounting for VAT; and
- Providing you with advice on VAT as and when requested.
Personal taxation
We will prepare your self-assessment tax returns together with any supplementary pages required from the information and explanations that you provide to us. After obtaining your approval, we will submit your returns to HM Revenue & Customs (HMRC). Normally, we will make the submission electronically.
We will prepare any business accounts in accordance with generally accepted accounting practice from the books, accounting records and other information and explanations provided by you to us.
We will calculate your income tax, national insurance contributions (NIC) and any capital gains tax liabilities and tell you how much you should pay and when. We will advise on the interest, penalty and surcharge implications if tax or NIC is paid late. We will also check HMRC’s calculation of your tax and NIC liabilities and initiate repayment claims if tax or NIC has been overpaid.
We will advise you about possible tax return related claims and elections arising from information supplied by you. Where instructed by you, we will make such claims and elections in the form and manner required by HMRC.
We will review PAYE notices of coding provided to us and advise accordingly.
Personal taxation advice
Examples of such work include:
- Advising on ad hoc transactions, preparing additional supplementary pages to your tax return and calculating any related liabilities;
- Dealing with any enquiry opened into your tax return by HMRC;
- Preparing any amended returns which may be required and corresponding with HMRC as necessary; and
Partnership accounts and tax returns
We will prepare the partnership business accounts in accordance with generally accepted accounting practice from the books, accounting records and other information and explanations provided by you.
We will prepare the income tax and capital gains tax computations based on the partnership’s business accounts for inclusion in the partnership tax return. We will prepare the partnership self assessment tax returns and supplementary pages required from the information and explanations that the partnership provides to us. After obtaining the approval of the partner nominated to deal with the partnership’s tax affairs we will electronically submit these to HM Revenue & Customs (HMRC).
We will provide each partner or their agent with details of the partner’s allocations from the return to enable partners to fill in their self assessment tax returns.
Partnership tax enquiries
We will assist you with an HMRC enquiry into the partnership tax return.
Limited Liability Partnership (LLP)
We will prepare the partnership business accounts in accordance with generally accepted accounting practice from the books, accounting records and other information and explanations provided to us. We will prepare financial statements in the format required by the Companies Act 2006. After the Designated Members have approved the financial statements we will file a copy with Companies House.
We will prepare the income tax and capital gains tax computations based on the LLP’s business accounts for inclusion in the partnership tax return. We will prepare the LLP self assessment tax returns and supplementary pages from the information and explanations that the LLP provides to us. After obtaining the approval and signature of the nominated member of the LLP responsible for dealing with the LLP’s tax affairs, we will submit these to HM Revenue & Customs (HMRC).
We will provide each member or their agent with details of the member’s allocations from the return to enable members to fill in their self assessment tax returns.
Company accountancy services
We shall prepare statutory financial statements of the company from the information you present to us. We will also prepared modified financial statements for filing at Companies House. We shall plan our work on the basis that the company does not require an audit of the financial statements. We will draft the documents for the adoption of the financial statements. Once adopted by the shareholders we will deliver the financial statements to Companies House.
Company secretarial
We are subscribers to the Webfiling service that allows us to file electronically with Companies House. Every company must file an annual return giving details of the directors and listing shareholders. We will provide you with a list of the current record. Once you notify us of any changes, we will file any necessary notifications and complete the annual return. The Companies House fee for an electronic filing is £15 compared with £30 for a paper filing. Electronic filing is also much less prone to error.
If requested, we will allow our office to be used as the registered office of the company. We will open the mail that is received and either respond to the mail or forward it to you as appropriate.
Corporation tax
We will prepare the corporation tax computation and supporting schedules required for preparation of the company tax return from accounts, information and explanations provided. We will prepare the company's corporate tax self assessment (CTSA) return. After obtaining the approval of a director, we will submit it to HM Revenue & Customs (HMRC).
We will tell you how much tax the company should pay and when. If appropriate, we will initiate repayment claims when tax has been overpaid. We will advise on the interest and penalty implications if corporation tax is paid late. We will inform you if instalment payments of corporation tax are due for an accounting period and the dates they are payable. We will calculate the quarterly instalments that should be made.
Where the company has paid corporation tax on loans by the company to directors or shareholders or their associates and those loans have been repaid, we shall claim repayment of the tax.
Group Corporation Tax
We will advise on the tax treatment of intragroup payments of dividends, charges and interest. In respect of claims for group and consortium relief:
- We will advise as required on claims for group and consortium relief and the interaction with other relief;
- We will prepare and submit to HMRC appropriate claims;
- We will adjust corporation tax computations and returns to reflect the surrender and receipt of group relief; and.
- We will advise on arrangements for payment of tax and the surrender and set-off of tax refunds within the group.
HM Revenue & Customs (HMRC) tax investigations
We will act on your behalf in an investigation by HMRC. Where required we will prepare a report on your behalf giving full disclosure of your tax affairs and once agreed by you submit it to HMRC.
We will negotiate with HMRC on any question of taxation, interest and penalties. The outcome of some income tax enquiries may be related to or impact on claims to tax credits. We will not address the tax credits issues unless we have explicitly agreed to do so.
Formal appeal proceedings
HMRC are taking an intransigent attitude to certain matters. We shall advise you when we consider that it would be economic to discontinue negotiations and pursue formal appeal proceedings. Where appropriate and with your approval we shall present your case to an Appeal Tribunal or, in exceptional cases, instruct a barrister to do so.