Services
Bookkeeping
Anyone that is required to complete a self-assessment Tax Return also needs to maintain good accounting records in order for them to have a clear and concise understanding of the day to day running of their business.
Financial information that should be provided to me are items such as sales invoices, purchase invoices, bank statements, credit card statements. I will enter all of this data onto a secure, on-line application.
With real-time accounting you will have your financial information at your finger tips enabling you to control and keep track of your cash flow, know who you owe money to, know who owes you money and also provide information to the bank, HMRC and Companies House quickly and efficiently and thus avoiding any potential late filing penalties.
I apply attention to detail when dealing with all the day to day time consuming, mundane but important tasks that help to keep your business ticking over.
I am happy to discuss the best and most effective means for you to provide me with your accounting records and I will endeavour to remind you of all filing obligations and deadlines.
I can maintain your financial information monthly, quarterly or annually all of which will be taken up to trial balance. All you then need to do is hand it over to your accountant resulting in less work for your accountant and less expense for you!
VAT
Completing VAT Returns can be a complex and lengthy procedure but it is also a necessary one for any VAT registered business. If VAT Returns are not filed correctly and on time this can result in penalties.
To avoid any complications with HMRC arising and to relieve you of this arduous task I will help to keep your VAT affairs in order by preparing and submitting your VAT Returns online for you in a timely and efficient manner.
I can arrange for your business to become VAT registered by carrying out the on-line registration on your behalf.
Technology
HMRC’s ambition is to become one of the most digitally advanced tax administrators in the world. From April 2019 businesses who have a turnover above the VAT threshold will be required to use the ‘Making Tax Digital Scheme’ which is a government initiative aimed at simplifying the way businesses report their income, expenditure and taxes.
Accounting records will need to be kept in a digital format with updates being filed directly from accounting software. This also means no more Tax Returns! Instead businesses will be required to file a summary of income and expenditure.
I offer services via cloud technology because I believe this to be the most time efficient method for clients to receive their information. This also enables the clients to deliver their paperwork to me via cloud technology if they wish to do so. Alternatively, e-mail or the old fashioned method of dropping off paperwork to me are also suitable.
I currently use Xero and QuickBooks for bookkeeping packages but I am always open to suggestions to fit in with the client’s needs.
Some of the problems with traditional accounting software is that:
- The data in the systems is not up to date and neither is the software.
- It only works on one computer and data bounces from place to place. This is not secure or reliable.
- It is costly and complicated to keep back-ups
- It is expensive and time consuming to upgrade the software
- Customer support is expensive and slow.
Some of the benefits of using cloud accounting software is that:
- You can use cloud-based software from any device with an internet connection.
- On-line accounting means that small business owners stay connected to their data.
- It is cost effective and easy to use.
AAT Licensed Bookkeeper, license number: 1002624
ICB practice number: 20052
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