QUALITY ACCOUNTING SERVICES
With an extensive background in accounting and taxation services, I’m fully equipped to handle all your financial demands. Working with a wide variety of clients in the Markyate area, I’ve earned clout and respect in the industry for my powerful drive and exceptional number handling skills. Get in touch with me and start using my professional services today!
MANAGEMENT ACCOUNTS
The main objective of internal management accounts is to provide real time information about the financial position of the company throughout the accounting period helping you to shape your decisions and business plans before the financial year end. Management accounts analyses business cost and operations to prepare internal financial report providing you with explanation of company performance, cash flow, credit control, profitability and budget comparisons.
STATUTORY ACCOUNTS
Your companies accounts – also known as ‘statutory accounts’ must be prepared and submitted no later than 9 months from your companies financial year and copies sent to Companies House and HM Revenue and Customs.
Your business statutory accounts must include a balance sheet that clearly identifies the value of what your company owns, owes or was owed on the last day of the financial year and the capital and reserve accounts.
Your business statutory accounts also must include notes about the accounts and a director’s report. In some cases also auditor’s reports are necessary depending on the size of the business.
Prepared in the right way, statutory accounts provide a necessary tool to help your business run smoothly and provide useful information for decsion making and future planning.
The regulatory framework for preperation of Statutory Accounts has undergone significant changes in recent years.
Preparing of Statutory Accounts is something any business must do to meet Companies House and HMRC requirements.
TAX RETURNS
Paying income tax or corporation tax depends whether your business is an incorporated company (a business which has registered as a company with a Companies House).
Incorporated businesses are liable for paying Corporation Tax on its taxable profits. These profits include money that company makes doing business (known as trading profits), rental income from property, investment gains and other chargeable gains.
The current Corporation Tax main rate is 19% from 01 April 2017 and will fall to 17% from 01 April 2020.
If you are not an incorporated company registered with Companies House you will not be liable for Corporation Tax. Instead, you will pay income tax on profits of your business. Income tax is a direct tax levied on income of a person. Person means an individual or partnership. How much tax you pay depends on how much of your income is above your Personal Tax Allowance and how much of your income falls within each tax band. Your income tax can be reduced by tax allowances and reliefs if you qualify for them.
PAYROLL
Process organisation’s payroll is a timely and accurate task. The role of payroll system is fast evolving as it must manage traditional responsibilities as well as brad range of administrative duties. Submission of Real Time Information (RTI), managing Auto-enrolments duties or salary sacrifice arrangements are just some of the tasks to be managed and controlled on regular basis. We can help you to take this hassle away. We create and maintain employee’s payroll records. Process payroll information and relevant deductions based on employees’ timesheets records or attendance spreadsheet provided to us. We provide you with relevant payroll details and summaries for each period with detailed information about your monthly PAYE and pension deadline payments. Digital payslips are sent directly to each individual employee via our Iris OpenSpace secure portal to save your time and one less thing to worry about. Before submitting the final reports to HMRC we ask for your approval of the final figures so nothing is submitted and reported to HMRC without your awareness.
BOOKKEEPING
Bookkeeping is one of the most tedious parts of running a business. Most of you spend evening and weekends on catching up on spreadsheets or recording transactions into some accounting software instead of plying golf or being with your loved ones.
Let us take the hassle from you so you can concentrate on what is really important in your life. Our first step is to work closely with you so we fully understand your business and requirements which enable us to tailor our services to your business needs. To our bookkeeping clients we also offer an option of our bookkeeping package with preparation of monthly or quarterly management accounts. Management accounts provide you with the key financial information about your company, support your decision making, and help you to plan for the future.
VAT RETURNS
VAT compliance is a complex area and brings an administrative burden on your business. Luna Accountants can ensure that you comply with the latest regulation and legislation. We provide efficient cost-effective VAT service including advice on pros and cons of voluntary registration and timing and arranging compulsory registration once you pass the VAT registration threshold. There are also alternatives to the standard VAT methods such as flat rate scheme, cash accounting scheme or annual accounting VAT scheme. We will evaluate and assess the size of your business, the industry you operate in and help you to choose the best VAT scheme for your situation.
Late payments or submissions or providing incorrect information can be heavily penalized by HMRC. Luna Accountants can help keep you compliant with legislation by providing continuous VAT support. We can provide VAT control and reconciliation and communicate with HMRC on you behalf as an agent.
Companies with above the VAT registration threshold have obligation to implement Making Tax Digital (MTD) streamline system to keep records digitally and use requisite software to submit VAT returns.
START-UP ASSISTANCE
If you are considering or have recently started your own business you may have a lot of questions and queries of what you need to do. Starting your own business can be challenging and may make you feel puzzled. Luna Accountants can help you to find suitable structure for your business whether it is sole trade, partnership, limited liability partnership or limited company. If incorporated company would be the best option for your enterprise, we will help you to complete all the necessary registrations or do it for you. We will advice HMRC about your business and deal with all the necessary forms to avoid any penalties. Luna Accountants will help you to choose the most suitable accounting software for your business and provide training if required. We will set up a PAYE scheme and register it with HMRC. If you are obliged to register or you simply voluntarily would like to register for VAT we will do it for you.
We will take care of company secretarial duties such as filing confirmation statements or processing dividend vouchers and minutes.
If you would like more information about our services for start-ups businesses please contact Luna Accountants on 01582 849447
COMPANY SECRETARIAL DUTIES
If you are running an incorporated business you as a director have responsibility to comply with corporate governance and other financial and legal regulations.
Many companies employ accountants to help them and guide them through compliances and legal matters. Luna accountants will maintain the company’s registered address as the address for formal communication. We will inform Companies House of any significant changes in business structure including appointments and resignation of directors, filing confirmation statements, processing dividend vouchers and board meetings minutes.If you would like more information about our services for start-ups businesses please contact Luna Accountants on 01582 849447