You can make more money if you better spent your time on marketing and promoting your business rather than Book-keeping.
We provide 2 levels of service:
• One, We take all burden off your shoulders leaving your time free to market and promote your business.
• Secondly, we can arrange the training to you in doing your own bookkeeping.
The first option is for those busy business people who want to completely outsource their bookkeeping to us.
Not everyone can comfortably maintain their own books & records. You may either be too busy to focus on this aspect of your business, you may not be comfortable with numbers or computers, or your company may simply not be large enough to afford a full-time in-house financial person. You may also be simply tired of trying to find competent, trustworthy part-time bookkeepers. Our firm can devise a customized solution for all your accounting and bookkeeping needs that allows you have these tasks done for you in our offices or at your premises in a way that you maintain awareness and control over the entire process.
The second option consists of Accounting System Setup and Training.
Some business owners are comfortable with numbers, but they don’t necessarily know how to organize and track their business finances. To make matters worse, many struggle with outdated or inappropriate accounting systems, which produce more stress than clear reporting. At D S & Co. we have years of experience in selecting systems and training small businesses to maintain their books and records in an easy and practical manner. You do not need to be an accountant, and once you have our training and support, it invariably frees your time and puts your focus where it should be – running your business
Value Added Tax (VAT)
Value added tax (VAT) is one of the most complex tax regimes imposed on a business. Without proper planning many businesses inadvertently overpay or underpay VAT. VAT returns often seem like a huge burden to a business, but as long as the accounts are organized, it needn't be too onerous.
Our VAT services begin with expert advice. New businesses may ask the question, should I be registered for VAT? Established vat registered businesses may have other queries regarding administration of vat or which scheme to go on? Or you may want to resolve a dispute with the HM Revenue & Customs.
Our VAT planning and compliance services include:
• Registering you for VAT
• VAT administration and planning
• Selecting the appropriate scheme
• Completing VAT returns
• Reconciling VAT and control measures
• Resolution of any disputes with HMRC
• Representing you at VAT Tribunals if required
The constant stream of changes to the regulations call for advice from a professional accountancy firm. At D S & Co we ensure that you do not fall foul of the regulations and do not pay the Exchequer more than you need to.
Employers have an obligation to the Inland Revenue to deduct taxes from the employees’ salaries and pass the tax to the Revenue. If you employ staff and ignore your obligation to the Inland Revenue you will be penalized.
Payroll seems complex to employers, but using our fast, efficient and cost effective service it could not be more straightforward. We work for businesses of all sizes, ranging from sole traders with only one or two employees, to large companies with many staff. We have a department that specifically deals with payroll service. You tell us how many hours your employees have worked, and we will send you their pay slip and inform you of the Tax and National Insurance that needs to be paid.
Our complete payroll service includes:
• Printing and dispatching pay slips on a weekly or monthly basis.
• Submitting RTI to HMRC.
• End of year compliance work.
CIS (Construction industry scheme) (VAT)
The Construction Industry Scheme (CIS) sets out the rules for how payments to subcontractors for construction work must be handled by contractors in the construction industry.
The scheme applies mainly to contractors and subcontractors in mainstream construction work, however businesses or organisations whose core activity isn't construction but have a high annual spend on construction may also count as contractors and fall under the scheme.
As a contractor you have certain obligations under the scheme, including registering with the scheme, checking whether your subcontractors are registered with HM Revenue & Customs (HMRC), paying subcontractors and submitting monthly returns.
We have specialists with experience specifically to deal with CIS related services. We advice you on verifying the subcontractors’ UTR with the HMRC and receiving the verification certificate. We also advice you on the following issues:
• Submitting Return CT300 to HMRC.
• End of year compliance work.
After the end of your company’s financial year, every company must prepare annual accounts - called ‘statutory accounts’ - from the company’s financial records.
You must always send copies of the statutory accounts to:
• All shareholders.
• HM Revenue & Customs (HMRC) as part of your Company Tax Return.
• Companies House (unless you send ‘abbreviated’ accounts).
We provide you the professional service on:
• Preparing the financial statements of your company according to prevailing Accounting standards.
• Filing the accounts and company return (CT600) to HMRC.
• Filling company accounts to Company house.
Management accounts are a useful tool for analyzing the performance of a business and for future planning.
There is no legal requirement to prepare management accounts, but it is hard to run a business effectively without them. Management accounts analyze recent historical performance and usually include forward-looking elements such as sales, cash flow and profit forecasts. The analysis is usually performed against forecasts and budgets that have been produced at the start of the year.
While you are busy running your businesses it is easy to overlook the aspect of management accounts. We are here to assist you in looking after your accountancy requirements. Our professionally prepared set of management accounts are based on principles of accounting to provide financial information necessary for the planning and financial protection of a business.
Plan for your business by taking advantage of our expert service.
Corporate Tax Planning
You may find tax planning a daunting prospect. We help you minimize your corporate tax exposure. Resulting in an even healthier financial position and yielding potentially significant improvements in your bottom line.
Corporation tax clearly represents a substantial part of your trading costs. Also, increased reporting obligations, robust investigation policies and harsher penalties for non-compliance mean that an undue element of your time and resources is presently taken up collecting revenue for the Government. We liberate your business from the administrative burden of complying with tax legislation and lead discussions with the tax authorities, allowing you to focus on building a strong, healthy business.
Our corporate tax planning services include:
• Determining the most tax effective structure for your business.
• Taking full advantage of tax opportunities and reliefs.
• Achieving the optimum capital or revenue tax treatment.
• Reducing tax on disposals and maximizing relief on acquisitions.
• Making the most of tax opportunities specific to your industry.
Personal Tax Planning
With the tax regime becoming more complex and more emphasis being put on taxpayers' individual responsibilities, everyone who is subject to taxation needs professional advice and support. Every pound of income tax you save means more income at your disposal, every well planned disposal of assets means minimal loss to capital gains, and every inheritance tax saving means more wealth for your beneficiaries. Let us take a fresh look at your personal tax issues and turn them into opportunities.
Our integrated tax planning services include:
• Providing year round tax advice.
• Advising on Income tax.
• Managing Capital Gains tax requirements.
• Planning Inheritance tax.
Self Assessments are every tax payer’s nightmare!
Self Assessment involves completing a tax return in order to tell HMRC about your income and capital gains, or to claim tax allowances or reliefs against your tax bill. The Revenue uses the figures on the tax return to work out your tax bill.
Many tax payers are not certain whether they are obliged to file a self assessment return. And many tax payers struggle to complete the tax returns correctly. The constant changes in the legislation makes the returns difficult to understand and to make matters worse as the self assessment returns are time critical many tax payers risk incurring penalties if they fail to deliver the self assessment returns on time.
Our professional service will provide you:
• Preparing sel assessment return.
• Preparing rental accounts if necessary.
• Advising on which income is taxable and what reliefs and allowances to claim.
• Advising on capital gains liability.
Business Start Up
What form of trading vehicle is best for me?
Just as you carefully nurture a young seedling, so you should nurture your business idea – with the correct advice from professionals.
At D S & Co, we work with you to understand your vision and expectations for the business. In order to put your business on a proper footing with HM Revenue & Customs (HMRC) and other authorities, you need to make sure that it has the right legal structure. It's worth thinking carefully about which structure best suits the way that you do business, as this will affect.
• the tax and National Insurance that you pay.
• the records and accounts that you have to keep.
• your financial liability if the business runs into trouble.
• the ways your business can raise money.
• the way management decisions are made about the business.
There are several structures to choose from, depending on your situation.
Limited company, Sole trader, or Partnership?
We will advise you about the optimal entity form you should choose to maximize tax savings. The choice of the proper business form, coupled with proper accounting and tax oversight, can give you the flexibility you need to run your business in the most tax-efficient manner.
We invite all start up businesses to make an appointment for a free consultation on a no obligation basis and obtain professional advice at the outset.
Our business start-up service will provide you:
• Advice on choosing the correct trading vehicle.
• Incorporate the company if you decide to go the route of limited company.
• Advice on opening a bank account and establish a good working relationship with your bank.
• Assist with raising finance.
• Complete any registration procedures with Companies House, Inland Revenue, or Customs and Excise.
• Draw up business plans and cash flow forecasts if required.
• Deal with any company secretarial issues.
• Assistance with logo design, company stationery, web design (via our sister company Apex Company Services).
• Deal with any other concerns you may have over starting your new venture.
D S & Co have years of experience in preparing cash flow forecasts which give facts and figures in a form expected by the lender or any other organization.
When you are starting a business it is important to have a working plan of how you will reach your goals. A business plan should be written and it describes the business, its aims and objectives, strategies used to achieve those objectives taking into account the current economic climate. A well written business plan can help you obtain external funding, bank loans and this can make a big difference to the eventual success of your business.
Your business plan should provide details of how you are going to develop your business, when you are going to do it, which’s going to play a part and how you will manage the money.
Our comprehensive business plan service will include the top elements expected from a well written business plan:
• An overview.
• Description of the business opportunity.
• Your marketing and strategy.
• Your management and personnel.
• Your operations.
• Financial forecasting.
By using our company formation service you will be benefiting from the service of an experienced on line company formation agent as well as qualified accountants.
- We are able to provide a fast company formation service at very competitively prices.
- We have kept abreast of major changes that have recently taken place in the company formation industry.
- We are able to offer professional and efficient company secretarial support after your company is incorporated.
Key features of our company formation service:
• Round the table conference – We invite you to a meeting either in our office or over the phone to initially decide whether a limited company is the most suitable trading vehicle for your business.
• Technically correct - The standard set of Memorandum and Articles of Association are professionally drafted and Companies Act 2006 is complied with.
• Speed – Your Company will be incorporated electronically within 5 working hours.
• Pricing – Prices are competitive, as if you were buying directly from a company formation agent.
• Bank introductions – Our special relationship with the banks means that company formation and bank account opening can be done without any hassle.
• Post incorporation – After your company is formed we can continue to support you with our services ranging from logo design, stationery and web design to bookkeeping, vat administration, PAYE registration and much more.
Cash-flow forecasts are often produced as part of a business plan but may be produced for a number of other reasons. The cash-flow forecasting is the most important aspect of accounts preparation be it for management accounts, or accounts prepared for a lender, such as a bank to evaluate how you will be able to repay the funding.