What do you get?
Your self-assessment tax return, company accounts, corporation tax return, VAT returns, payroll filings and company secretarial duties such as incorporation documents and regular confirmation statements, all handled efficiently by us using our official authorisations with the relavant bodies - and as we check our figures with you monthly and send only a simple end-of-year questionnaire in addition, we put together drafts for your authorisation to file swiftly at the close of each relevant period. This is why 100% of our clients received no penalties for late filing this year - for most we were already done by the end of the previous summer!
The danger of self-employment when compared to the PAYE system is that you risk spending money what will be later due in taxes to HMRC, potentially putting yourself into hardship many months down the line in the following January when they become due. But since we look at your figures each month, properly reviewing them for any relevant queries, we provide an as-accurate-as-possible tax forecast on a regular monthly basis, allowing you to not only know what you'll owe so you can save as you go, but also provide insight into your business and allow us to suggest where you might be missing out on declaring relevant expenses, claiming tax deductions in error, or have the opportunity to take advantage of tax allowances.
The benefit of looking through your figures every month is that we can offer timely advice based on what's actually going on right now in your business. We'll alert you as soon as we see you're approaching the higher rate tax bracket or the VAT-registration threshold, for example. And it's not just the 'obvious' things. Did you know you have 60 days to report capital gains on the sale of UK residential property to avoid a penalty? Did you know you that, as the sole director shareholder of a limited company, if you move house and fail to update your Persons of Significant Control register within 14 days and tell Companies House within a further 14 days, you could be committing a criminal offence? We make it our business to monitor for such things. And, of course, you need only ask if you have a specific situation you want advice with.