We will advise you the format that suits your business best; we will prepare business plan, cash flow and projections which you may require to acquire bank finance. We will also support to set you up for compliance with Companies House and HMRC and with your ongoing record keeping.
Restaurants and hospitality:
With increasing amount of checks carried out by HMRC in this sector, it is utmost important to maintain you records properly. We will advise you on how you maintain your VAT records, organise all data to prepare and submit your VAT returns and prepare year end accounts and tax return for your business. We can also carry out due diligence in case you are buying a business and selling one.
Whether you own a community pharmacy or a dental practice or you are working as a locum pharmacists, GP or dentist our experienced accountants can help you with VAT, tax or accountancy issues specific to this industry.
Famous IR35 regulation is closely related with this industry and without proper guidance you may end up paying thousands in tax. Also we will advise on the best format to set up your business, what can you claim as legitimate business expenses and the best way to extract profit.
Private and commercial landlords and developers:
There are restrictions in place for residential land lords and more restrictions are on the way, so you need to include the right information prescribed by HMRC in your tax return. We can help you out to complete an accurate tax return so that you do not pay unnecessary penalties or interests. Also we can support commercial property landlords setting up their business and with tax authority compliance.
If you are a developer converting lofts, extending or restructuring a property or developing an annex, there are tax incentives which may save you plenty of tax and this will add to your profit.
Retail and wholesale businesses:
These businesses involve large number of transactions and plenty of paper documents which need to be handled and recorded carefully. The business may claim or pay incorrect VAT, if recorded incorrectly. Also stock based businesses are subject to stock pilferage, waste of stock, over/under
stocked and not recording them correctly may result under/over payment of tax. Recording the transactions is also very important to take accurate and precise business decision.