Services

Bookkeeping
Payroll
VAT

Bookkeeping is an essential part of any business, from individuals and small sole traders to large corporate organisations. Recording your business and accounting transactions on a regular basis will help you to understand your business and keep on top of your cash flow. If you either don't have the time or the inclination , then let me look after your bookkeeping entries using the 

latest accounting software or cloud accounting services. I can prepare regular reports and summaries as required. Some examples of the activities I undertake are:

 

  • Sales Invoices

  • Purchase Invoices

  • Bank Reconciliations

  • Accruals & pre-payments

  • General Ledger Journals

  • Fixed Assets and Depreciation

  • Petty Cash

  • Credit / Debit Card Payments

  • Creditor & Debtor Management

Keeping on top of the latest HMRC regulations and rates can be a time consuming and frustrating experience. Let me run your weekly or monthly payroll reports and administer the following:

 

  • Salary and wages,

  • Auto-enrolment Pension schemes

  • Construction Industry Scheme subcontractor deductions.

  • Overtime, Bonuses and Commission,

  • expenses allowances,

  • Statutory Sick pay (SSP),

  • Statutory Maternity or Paternity pay (SMP/SPP)

 

I will inform you how much to pay your staff and Inland Revenue for PAYE/NI and submit your monthly payroll using RTI ready Software. 

Management Accounts 

The standard rate of VAT is currently 20%, this is the rate that is charged on most goods and services in the UK unless they are specifically identified as being reduced or zero-rated. You are likely to have to register for VAT if any of the following apply:

 

  • The taxable turnover of your business in the previous 12 months reaches the VAT registration limit (presently £83,000), although you can also register on a voluntary basis if your turnover is below this.

  • You believe your turnover in the next thirty days will exceed the registration limit.

  • You take over a business as a going concern whose turnover meets the conditions of the previous two points.

  • You buy goods from elsewhere in the EU to a value above the registration limit in one calendar year.

 

My VAT service includes:

  • Assistance with VAT registration

  • Use of the most appropriate scheme

  • Recording VAT transactions and reconciliation

  • Help with or completing VAT returns on your behalf

Self-Assessment

If you have relatively straightforward tax affairs and already pay tax through PAYE (Pay As You Earn) you probably won't need to complete a tax return, unless you have expenses to claim against your employment. However, if; 

 

  • You are Self-employed or a partner in a partnership;

  • A Company Director (unless non-profit organisation);

  • Your annual income is £100,000 or more;

  • You or your partner receive Child Benefit and your income is over £50,000;

  • You have disposed of assets and have Capital Gains Tax to pay;

  • You get income from overseas;

  • You're 65 and receive a reduced age-related allowance

 

..then you should be submitting an annual tax return. I can assist with most of the above quite comprehensively for individuals with business turnover of up to £100k. If your turnover is larger than that or for a limited company, i would recommend using an accounting firm for your statutory returns

Management accounts are different from the formal statutory financial accounts that Limited Companies are required to file each year at Companies House. The objective of management accounts is to provide key financial and statistical information required by managers to make day-to-day and short term decisions.

Monthly management accounts will include a profit & loss account showing income and expenses for the period plus a balance sheet which will show the assets and liabilities of the Company. Cash flow reports and ledger listings for sales & purchases can be produced as often as is required, as well as longer range financial forecasts and budgets.

Office Administration

Of course there is more to running a business than just keeping the accounts up to date and if needed, I can provide advice and support for a range of other critical business functions, such as:

 

  • Filing system organisation

  • HR and personnel administration

  • Procurement and purchasing administration

  • Stock control and material replenishment technologies

  • Data entry and master data maintenance

  • E-commerce.

  • Network maintenance and security

Data Management

Every growing business needs a robust data management system and it is important to plan well in advance for the future needs of your business. It's all too easy to end up with a web of unsynchronised spreadsheets and databases... 

 

During my career, I have worked with a variety of software packages and have implemented IT systems for all stages of the business process, from customer records and sales processing, through inventory control and production to accounting. Whether you are looking at data migration project or setting up a full management system from scratch, I can help plan and implement a seamless transfer to your new package. 

 

I am also a professional advisor for Sage and Quickbooks, along with being an affiliate for Sage One, Xero and Crunch cloud accounting systems, and I offer detailed one-to-one training on these packages along with follow-up support and development of reporting and templates.

© 2018 by Mark North. All rights reserved.

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Call today - 07875 760372