Accounting & Tax Services

  ANNUAL ACCOUNTS

Taxplus Accountants can handle all your annual accounting for you, ensuring that everything is completed in a timely manner in line with Companies House and HM Revenue & Customs timeframes. Companies House expects that annual returns should be submitted within 28 days of a company’s incorporation anniversary, or within 28 days of the anniversary of the last year’s annual return submission.

We will use your bookkeeping records (or our records if you use Taxplus Accountants to handle your bookkeeping) to prepare for the submission of your annual account details in a tax return. We will create accurate and detailed financial statements for submission to Companies House, ensuring that as many of your details are kept as private as possible.

Taxplus Accountants can submit your annual accounts return on your behalf to save you the trouble if you so wish. Annual returns must be filed to avoid legal repercussions.

We can also help you to identify any tax liabilities you may have, and ensure that you and your employees understand your accounts thoroughly to aid with annual accounting in the future. Our diligent team can also give you advice on how to make sure your accounts are detailed and up-to-date.

We recommend that if you decide to use our annual accounts service, you should consider our bookkeeping service to ensure that all your accounts are up to date and accurate. Should you wish to keep your accounting in-house, we are happy to come to your offices and train your employees to accurately keep accounts in check.

If you would like to discuss this service with one of our team members, please use the details on our Contact Us page to get in touch.

 BOOK KEEPING

Companies House and HM Revenue & Customs require all businesses to maintain accurate records of all their accounts, both for taxation and VAT reasons. Taxplus Accountants provides an accurate and diligent bookkeeping service, carried out by our team of highly trained and experienced accountants.

Aside from the legal requirement to keep your bookkeeping as accurate as possible, best bookkeeping practice is also useful for keeping a business streamlined. For example, Taxplus Accountants can help you to manage all your business financials, as well as plan for any future changes in your business finances. Excellent bookkeeping also guards against the possibility of extra financial charges for late accounting.

If necessary, Taxplus Accountants can help you and your employees to understand the records you are required by law to keep and how to submit them to the appropriate government entity.  We can create a reliable system of financial recordkeeping, utilising financial transaction documents such as bank statements, bills and invoices. Our team can also help you to maintain your normal management accounting.

The Taxplus Accountants team are all highly experienced in the use of standard bookkeeping software, such as Sage 50, Iris, QuickBooks Pro, and VT Transactions amongst others.

We recommend that if you decide to use our bookkeeping service, you should consider our Annual Accounts service to ensure that your annual returns are submitted in an accurate and timely manner.

Should you wish to keep your bookkeeping in-house, we are happy to come to your offices and train your employees to accurately keep records of your finances. We can help you to establish a system for keeping records that will make your annual returns easier to submit.

Our bookkeeping service is offered at a fixed, competitively priced fee that can be paid on a monthly basis to ensure that your records are maintained at an affordable price.

If you would like to discuss this service with one of our team members, please use the details on our Contact Us page to get in touch.

 BUSINESS SETUP

If you are thinking of starting up a business (whether becoming self-employed, starting a partnership, opening a Construction Industry Scheme or setting up a Limited company), Taxplus Accountants can help you to establish a solid foundation for creating a successful startup. We will provide you with guidance and execution in line with best practice guidance set by HM Revenue & Customs and Companies House rules and regulations.

We can offer you a range of services on a project basis, including:

  •    Guidance on the rules and regulations for your particular business (self-employed, partnership, CIS or Ltd Company)
  •    Company formation and incorporation
  •    Registering for a business bank account
  •    Help with the appointment of company officers
  •    Changing a company name, including Companies House research to ensure that name is available
  •    PAYE scheme registration
  •    Corporation tax registration

We can also offer you bookkeeping and annual accounts services once your business is up and running. Please see our Annual Accounts and Book Keeping pages for further details.

If you would like to discuss this service with one of our team members, please use the details on our Contact Us page to get in touch.

 CORPORATION TAX

If you have a Limited company, you must ensure that you pay any tax required on any profits or losses that you may make, informing HM Revenue & Customs of any financial details within 9 months of the year ending.

Taxplus Accountants can conduct a comprehensive and extensive review of your business’s accounts and establish which tax structure will be the most suitable for your needs. By choosing the right tax structure for your requirements, it is highly likely that you will see savings in your taxes.

Taxplus Accountants can help you to minimise any corporation tax liabilities that you may encounter, as well as determining whether your company is eligible for any tax reliefs or opportunities for deferment.

Our dedicated and experienced team can submit your details to HM Revenue & Customs on your behalf, ensuring that your details are accurate and submitted in a timely manner, helping you to avoid any financial or legal penalties for incorrect or late submissions.

If you would like to discuss this service with one of our team members, please use the details on our Contact Us page to get in touch.

PAYROLL SERVICES

Businesses that employ staff are subject to mandatory filing deadlines for details by HM Revenue & Customs. Taxplus Accountants can carry out your payroll responsibilities for you, ensuring a timely and thorough record is submitted to the appropriate authorities.

Our competitively priced payroll service is offered on a completely confidential basis. This service includes the following:

  •     Weekly/Fortnightly/Monthly payslips
  •     RTI Submission
  •     P46 & P45 maintenance
  •     Taxable benefits calculation and P11Ds submission
  •     Student loan recovery
  •     SMP, SPP, SSP, and SAP
  •     Advice on tax and NIC payable
  •     Dealing with employee payroll enquiries
  •     Standard payroll reports
  •     Production of year-end P60s
  •     Preparation and electronic filing of forms P14 and P35
  •     Helping Pension schemese

Taxplus Accountants can take the hassle out of payroll administration, allowing your employees to concern themselves with other aspects of your business, rather than spending unnecessary time and energy on payroll details.

If you would like to discuss this service with one of our team members, please use the details on our Contact Us page to get in touch.

SELF ASSESSMENT

If you are a director of a Limited company, self-employed, working via a Construction Industry scheme, a high-income earner that falls within the 40% tax band, a pensioner with a more complicated tax situation, a recipient of income from UK land or property, or a trustee, you will likely need to submit a self-assessment return to HM Revenue & Customs to determine your tax liability. This must be submitted in paper form by the 31st of October, and online by the 31st of January.

For many independent workers, submitting self-assessment tax returns can be an intimidating prospect. When submitted incorrectly or outside of the allotted time frame, this can result in financial penalties.

Taxplus Accountants can provide you with an extensive, easy-to-comprehend service that will handle your self-assessment tax return needs. We can do the following:

  •     Calculate your tax liability
  •     Complete and file your tax return on your behalf
  •     Advise you when various payments are due and how much to pay
  •     Advise on appropriate record retention
  •     Introduce you to any relevant tax saving ideas
  •     Represent you in the event of your being selected for investigation by the Inland Revenue

If you would like to discuss this service with one of our team members, please use the details on our Contact Us page to get in touch. Alternatively, you can use the Self-Assessment form on this website to submit your details.

 VAT RETURNS

If you operate a VAT registered company or would like to register your business for VAT, Taxplus Accountants can help you to follow best practice according to HM Revenue & Customs and Companies House.

Our experienced team can help to establish whether you need to be VAT registered, and whether you should apply for the Standard VAT scheme or the Flat Rate VAT scheme according to your requirements.

We provide a detailed, cost-effective service that comprehensively covers any VAT needs you may have. This service includes:

  •     Assistance with VAT registration
  •     Advice on use of the most appropriate VAT scheme
  •     VAT control and reconciliation
  •     Help with completing VAT returns
  •     Negotiating with HM Revenue & Customs, should any disputes arise

We can also provide you with training to help you understand your VAT tax return, as well as how to manage your finances accurately to ensure that your VAT obligations are adequately provided for.

If you would like to discuss this service with one of our team members, please use the details on our Contact Us page to get in touch. Alternatively, you can use the VAT Registration form on this website to submit your details.

Rental Accounts/Property Accounts

Any individual who receives income from letting a property has to declare this to the HM Revenue & Customs, even if they do not make a profit. Losses from UK rental properties can be carried forward to set against future profits from your UK properties. But if you are running a trade such as hotel, guesthouse or a B&B, you’re treated as being self-employed.

How you are taxed on the rent you receive from your single or portfolio of properties depends on the type of letting. If you have several properties, all rental receipts and expenses can be lumped together, so expenses on one property can be deducted from receipts on another. However, overseas properties are treated separately to UK properties, so you can’t lump together your UK holiday let and your French property.

Even if you are letting out part of your own home, you may have a tax to pay, although, you may be able to claim rent-a-room relief. If you don’t already receive a tax return, you must notify HMRC of any rental income by 5 October after the end of the tax year (5 April). If you own rental property jointly with a partner, you will both be responsible for reporting the income to HM Revenue & Customs.

Records which you will need to keep

  •     the rent you charge and what you actually received
  •     any services charged separately – for example meals, laundry service, etc
  •     the dates you rent out each property
  •     Details of expenses related to the letting of the property. Your records should include all your costs of letting or managing your property. We will advise you on which of the expenses are allowable and notify you of any expenses which you may not have considered
  •     Details of ‘capital’ costs associated with the purchase of the rental property, furnishings and improvements.

Please call us, regarding your Rental and property Accounts matters, on 02085078033 or fill out our contact form and we will contact you soon.