Bring an accountant in when it counts – to save you money, to save you from stress and to save you lots of time.
Starting a Business
Setting up the right books for your business and putting in place an effective system of bookkeeping from the early stages of your business will simplify your accounting and ensure that your business is organised effectively to maximise profit and minimise tax.
Hitting the VAT Threshold
VAT: Using a Gloucester Accountant to handle VAT registration and VAT accounting for your business. Most businesses first think of VAT when they reach the VAT threshold of £90,000 turnover. Here, we concentrate on the most common ways in which small businesses use VAT. These are: accounting for VAT by making Reverse Charge Accounting entries for services received by the business; claiming back VAT on business-related goods and services by making a claim for VAT reclaim (i.e. input VAT); and, where appropriate, selecting an appropriate method for accounting for VAT under the annual accounting scheme.
Facing an HMRC Investigation
Professional representation is important when HMRC starts to investigate your return. Experienced Gloucester Accountants deal with HMRC investigations on a regular basis. They know what HMRC expects and can complete all the necessary correspondence in a professional manner.
Filing Self-Assessment for the First Time
Most errors are simple ones and the people who have completed a self assessment form for the first time will also have missed out certain expenses that are allowable for taxation purposes. You will also find that HMRC follows up on any of the answers to the questions that you have answered on the form.
Running Payroll as an Employer
For Gloucester Accountants, see https://www.randall-payne.co.uk/services/accountancy/gloucester-accountants. Local accountancy support is provided.
Planning a Big Financial Event
As noted above, there are certain major events in life which may result in Capital Gains Tax arising such as the sale of a business, the transfer of a house and so on. It would be advisable to check the professional qualifications of any proposed accountant in advance of committing to their engagement to ensure that he or she is a verified professional in good standing of a recognised professional body.
A good accountant pays for themselves most clearly at moments like these.