Our Services

Individual and Business Services

Individual and Business Services

We also specialise in providing services to individuals and owner managed businesses and our chartered tax advisors offer proactive advice to help you manage your business, plan ahead and pay less tax while ensuring compliance with accounting and taxation legislation. We deliver an individually tailored service to support your needs allowing you to focus on what you do best, running your business.

 

See below for a summary of the services we provide.

We provide accounting services to a wide range of businesses supporting them with our knowledge and offering tailored solutions to suit their needs.

 

It is vital to your business that accurate year end accounts are prepared in the correct format to allow you to make the correct decisions to take your business forward, pay the correct corporation tax and avoid penalties by complying with relevant accounting standards and obligations.

 

We do this for you in a timely manner with minimal disruption to you, allowing you to focus on running your business.

 

Our accountancy service includes:

 

  • Preparation of year end accounts (sole trader, Partnership, LLP, Ltd Company)
  • Preparation of monthly or quarterly management accounts
  • Company secretarial services
  • Year-end meetings at your request
  • Advice on records and bookkeeping

We offer a wide range of compliance and tax advisory services across all of the taxes. From basic tax returns to bespoke tax planning, we can find a solution to any tax issues you may have.

Our tax service includes:

 

  • Private client tax returns
  • Partnership and LLP tax returns
  • Corporation tax returns
  • Capital gains tax reporting
  • Inheritance tax and estates
  • Trust tax returns
  • International Tax & Expats
  • Employment tax
  • Making Tax Digital
  • Tax advisory and planning services

VAT is a complex area of tax and getting it wrong can prove costly. Our specialists help navigate you through the wide range of issues and the constant legislative changes which are making the VAT administration process very complex. We will help to ensure that you comply with the regulations and that all VAT returns are filed on time with maximum claims included. We provide an efficient, cost-effective VAT service, which includes:

 

  • VAT registration and de-registration
  • Choosing and registering for the most appropriate VAT scheme
  • VAT return preparation and submission
  • Advice of VAT claims and other issues
  • Planning ahead to ensure compliance with HM Revenue & Customs
  • Advising on payments due

Starting a business is an exciting time for an entrepreneur but it can be very daunting and seeking advice is crucial to make sure you get off on the right foot.

 

We will listen to your needs be it legal protection or tax efficiency and advise on the best business structure for you, and take care of all of the registration and compliance issues leaving you to focus on running your new business. We can also take of the secretarial duties on your behalf should you want us to.

 

Whether you are going self employed, in partnership, through an LLP or Limited Company, each option has different legal, taxation and accountancy requirements and we will explain this to you in plain English, helping you understand and make the best decision for your business and your needs.

Our services to business start-ups include:

 

  • Advice on the most suitable and tax-efficient form for your business, e.g. a sole trader, partnership or corporate entity (limited company/LLP)
  • Advising on tax-efficient profit extraction and remuneration planning
  • Tax reliefs for the business
  • Ensuring tax compliance obligations are met (corporation tax, PAYE, VAT);
  • Outsourcing services.

Recording the day to day transactions of your business can be a very time-consuming task. We use professional software which allows us to do this for you in a very efficient and cost-effective manner, keeping your records up to date and freeing up your time to focus on what you are good at, running your business.

Our payroll department can save you the time and costs of having an in-house payroll team.

 

We can look after the registration and operation of payroll as well as the related pension compliance issues that you may face.

Unfortunately, in this day and age tax investigations are on the rise and anyone can be selected. We act on behalf of clients in negotiations with HMRC to ensure the best possible outcome. We can attend meetings with HMRC and assist in providing the necessary documentation to support your tax computations and claims. Our aim is to minimise your liability and draw matter to a close as quickly as possible to minimise the stress for you.

 

Investigations can be time-consuming and we can offer fee protection insurance for a modest annual fee which safeguards yourself from the cost of any professional fees associated with a tax investigation.

Regardless of whether you’re a plumber, builder or roofer if you are paid through the Construction Industry Scheme (CIS) then you are very likely to have overpaid tax. This is because you will have been subject to a standard 20% tax deduction without taking into account any expenses or allowances you are entitled to. We can quickly calculate and claim your refund for you to get your money back where it belongs.

 

CIS is a scheme that involves tax being deducted at source from payments relating to construction work. CIS requires the contractor to deduct tax at source on any payments it makes to a subcontractor. The rate at which tax will be deducted depends on the registration status of the subcontractor.

 

All contractors have to be registered with HMRC for the CIS. Subcontractors who do not wish to have tax deductions made from their payments at the higher rate should also register with HMRC.

 

If you are not registered for CIS, the contractor will make a 30% tax deduction from your pay. Once registered HMRC will contact you to confirm the registration and provide you with all the information you require HMRC will also determine at this point whether you can be paid gross or with tax deducted at a 20% rate.

 

Whether you’re a Limited Company subcontractor or an individual, we can assist with claiming back the tax withheld from your pay and provide advice on registering for gross payment status. We also assist with filing CIS returns for Contractors and all related advice.

 

Research and development relief is a very valuable tax relief for Limited Companies that can dramatically increase cash flow. They offer businesses an enhanced deduction for qualifying expenditure and in some cases a tax credit.

 

We can help you to identify whether your company is carrying out qualifying research and development, quantify the eligible expenditure and present an appropriate claim to HMRC. You only pay us if your claim is successful.

 

We will identify the expenditure, value the claim and prepare a detailed report for submission to HM Revenue & Customs alongside the Corporate tax return.

As you and your business grow we can continue to guide you, making sure the business structure is still relevant, offer restructuring options, maximising tax reliefs and opportunities that become available to you.

 

We will also advise on compliance issues that may occur such as VAT registration, employment tax and advice or maybe simplification of your business and its affairs.

 

We offer a service tailored to your needs ensuring tax liabilities on both a personal and corporate level are kept at a minimum through careful tax planning and use of all available tax reliefs whether you are selling the business to a third party or passing it on to the next generation. We will help you extract the maximum value to take on to the next stage of your life.

 

It is important that tax planning is put in place in advance to maximise the availability of tax reliefs that may be available. We can help put a plan in place and offer advice on the most tax efficient exit strategy, share valuations and tax reliefs available.

For many years we have worked closely with Broad Chare Partners and are able to offer pension and wealth management advice through them. Based in Newcastle City Centre, Broad Chare Partners is a Partner Practice of one of the UK’s leading wealth management organisations, St. James’s Place.

 

David McLaughlin, Stephen Adair and Chris Straker seek to build long term relationships and aim to understand the aspirations of their clients and use their own financial expertise and professional qualifications to provide individuals, business owners and start-up businesses with the means to achieve their financial goals for the future.

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