ABOUT US
Our ultimate goal is to build a life-long relationship with our clients. We want go on the business journey with you, and by working together, we can challenge, overcome and grow, by working together as a team.
​
As a newly established accountancy practice operating from Scarborough, North Yorkshire, we are looking to make our mark by offering the best quality service there is by taking a modern approach to accounting!
​
We aim to get as much useful information as possible from your bookkeeping softwares, and communicate this in a way that gives you full insight into your businesses performance, allowing you to make insightful and calculated decisions.
Our Services
Limited Companies
Sole Traders and Partnerships
VAT and Bookkeeping
Payroll
Wanting the freedom of working for yourself? We can help you get started!
We have all considered the appeal of working for yourself. Working around your own schedule, creating relationships with your own customers, and just getting your name out there!
​
There are many potential pitfalls when operating as a sole trader or partnership, so make sure you get in touch so that we can discuss whether this is the best structure for you.
Sole Traders and Partnerships - How can we help?
Registration with HMRC
When first deciding to start trading as a sole trader or partnership, you will need to register these details with HMRC to be issued a UTR. This is the reference that will be needed in order to submit tax returns and pay any taxes due. We can assist in getting you up and running, ensuring that the correct details are submitted to avoid any delays.
Annual accounts preparation
We will prepare annual accounts for your business, to show to you how well your business has done in the past year. The financial figures from the accounts are then transferred on to your tax return, to declare to HMRC what profits the business has made.
Submission of Self-Assessment Tax Returns
When being self-employed, you are required to submit an annual tax return to declare your profits, and pay any tax due. Depending on personal circumstances, there are lots of things to consider when preparing a tax return, and fines and penalties can get quite significant for late submissions and errors.
Business planning and advisory
As mentioned a few times, planning is key! We like to keep clients books and records as up-to-date as possible, meaning that at any given point we know the exact financial position and performance of their business. This will allow us to be able to advise on better business practises, provide support to grow the business, and plan in advance for taxes, all with the aim to keep as much cash in the business to assist growth.
Ready to make the step to start trading as a limited company? We can help you get started!
Trading as a limited company can offer tax-savings, as well as other advantages, but it does involve additional submissions, standards, and regulations. But don't let this put you off!
We are here to assist in all matters surrounding limited companies, allowing you to focus purely on growing and managing your business.
Limited companies - How can we help?
Company formation
There are a lot of things to consider when deciding to incorporate a company. Company name, share structures etc. We can help you get off on the right foot from the very start, providing you the perfect platform to start trading from.
Filing annual accounts to companies house
Each year you will need to file your companies accounts to Companies House. This is a public record, so need to make sure that only legally required information is submitted.
Filing of annual corporation tax return
You will also need to file an annual corporation tax return, which declares your profits to HMRC, and calculate any taxes payable. With correct planning, we can anticipate what upcoming corporation tax is due, and advise beforehand any methods that can keep tax as low as possible.
Filing of confirmation statement
Another annual filing requirement is the confirmation statement. The is submitted to Companies House, and confirms any change to the companies details in the past year.
Business planning and advisory
As mentioned a few times, planning is key! We like to keep clients books and records as up-to-date as possible, meaning that at any given point we know the exact financial position and performance of the company. This will allow us to be able to advise on better business practises, provide support to grow the business, and plan in advance for taxes, all with the aim to keep as much cash in the business to assist growth.
Dividends
As a company shareholder, you have a right to a distribution of the company profits in the form of a dividend. With correct planning, we can utilise the beneficial dividend tax rates, to allow you to withdraw private funds from the company, and pay as little personal tax as possible!
Pay your staff with ease!
Running payroll may see a monotonous task, but essential if you're wanting to keep employees in your favour! We're happy to assist in all payroll matters you may need.
Payroll Services - How can we help?
Regular payroll
If you have staff who are paid at regular intervals, weekly, monthly etc. we can prepare the payrun filings, informing you of the gross to net amounts, detailing any deductions and amounts payable to 3rd parties (HMRC, pensions). We will also prepare journals for each pay run to be entered into your accounting software, so that financial reports remain accurate.
CIS returns
If you are a contractor working in construction, you will be required to deduct CIS tax from your sub-contractors, at their applicable rate, and report and pay this over to HMRC on a monthly basis. We can take this stress away for you by verifying sub-contractors to ensure the deduction rates are correct, preparing and filing the CIS returns, and inform you in good time what amount is due to be paid, and when by.
Director salary
If you are a director of your own limited company, you may be able to benefit from paying yourself a salary at the personal allowance limit, and then withdrawing further funds as dividends. This is a tax-efficient way of getting funds out of the company for personal use. However, this is not always the case, so make sure you get in touch to discuss your individual circumstances, to make sure that you're not paying too much tax!
It's not all just about the year-end accounts! Keeping on top of your bookkeeping throughout the year is vital to be able to make informed decisions.
Accurate bookkeeping is the backbone that the rest of our services rely on to be able to give you the best service! When bookkeeping gets left behind, the ability to make timely, informed decisions does too.
VAT and Bookkeeping - How can we help?
Regular management reports
Keeping track of the companies performance is a must if you are wanting to plan for taxes, investment ideas or find areas which require improvement. We will prepare and send you detailed reports, which can be tailored to you to show your areas of interest or concern. We send these monthly as standard, but can be prepared on a schedule of your choice.
Up-to-date Bookkeeping
Using the cloud platforms available now for accounts and bookkeeping, there is no reason why you cant be able to check your phone and see the companies financial performance for any given period, at any time. This however, requires being on top of your bookkeeping! We aim to check in on your bookkeeping software at least twice a week to process any outstanding transactions. This way, you will always be able to access almost "live' data and reports, and we can also get any queries to you while the transactions are still fresh in your mind.
VAT return submissions
If your company is VAT registered, you will be required to file VAT returns on a monthly, quarterly or annual basis, and pay over any amounts owed to HMRC. It is very easy to over/under calculate these amounts, so we can make sure this isn't the case for you!
Referral Scheme
Existing clients can earn a discount on their fees by referring new clients.
For every new client referred, you will earn a discount of 20% of the new clients fee, for the duration that they also remain a client. Even better news, is that there is no limit! The more clients referred by you, the further discount you will receive, up to having your fees reduced to £0!
Simply forward the client referral form, or ask them to visit our website to complete the referral form, and we will get in touch with you once we have onboarded your referred client to reward you with your discount!
Please get in touch if you require any further information or assistance.
