Company Formation

We perform company registrations in partnership with Companies House. To register a UK company might seem an intimidating process for you, but it’s much easier and simpler. Especially in the hands of a registered agent like us. We will not only help you to register your company, but we will also offer accounting services to support your business at legal requirements. It won’t take more than two days to get your company live on companies house public register.

If you are not sure what are the requirements and responsibilities after setting up your company, we are here to provide you handholding support and take care of all your company all legal submissions.

In your package, you get

  • Limited company formed online & ready to trade in as little as 3 hours
  • Digital Certificate of Incorporation, Share Certificates, and M&As
  • Fully compliant with AML and KYC regulations
  • Digital statutory forms including First Board Meeting minutes
  • Printed Certificate of Incorporation
  • Printed Share Certificate(s)
  • Prestigious Registered Office Address – N1 London
  • Director Service Address – keep your residential address private

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Personal Tax Return

Completing a self-assessment tax return is a requirement of every self-employed, Partner, and UK Limited company director and shareholder. You need to report your personal earnings during the tax year from 5th April to 6th April every year. The deadline is always the start of the new tax year. If you miss the personal tax deadline for one month, you will have to pay a £100 late penalty, and further penalty applies unless you file your return.

Our professional Personal Tax team has completed 1000+ Personal tax returns since 2015. We will calculate your tax based on your personal income. If you have overpaid, we will initiate Tax refund from HMRC will be directly credited to your bank account.

Contact us any time to:

  • Calculate your Personal Tax liability
  • Complete your Personal Tax return
  • File your personal tax return online 
  • Advice on Saving your tax liability
  • Advice on Payment on account and how to pay your tax
  • Appeal against late penalties
  • Self-assessment Tax Advice

Our team will take away your stress, so don’t worry, and we will leave you free to focus on your business growth. That’s how you can grow your business.     

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Payroll

Being an employer, you won’t have much time to look after your employee payroll and monthly submission with HMRC. Don’t worry about your payroll. We are here to save your time and take care of your company’s payroll services. We are offering our affordable services which will suit your needs. We are ready to assist you in getting your payroll services done on a monthly or weekly basis. Just contact our team with the unique need we will do the rest for you.

Our payroll services include:

  • Payroll (PAYE) Registration
  • Payroll (PAYE) Submissions
  • Calculation of monthly Salary
  • Payslips
  • RTI Submissions
  • Handling HMRC Queries
  • Back Dated Salary Submissions
  • Form P60
  • Form P45

There are different payroll packages with prices that vary according to the level of service. If you are a company director and only need payroll for yourself, we can offer you our basic payroll package that typically handles your monthly payroll calculation and its submission with HMRC, including generating the payslip.

Payroll outsourcing: what are the benefits

Four reasons how it will help your business grow if you outsource your payroll:

  • It will save you money: Outsourcing payroll is a more cost-effective option for small businesses than hiring in-house staff.
  • It will save your time: Pension, tax, Bacs, Payslips, NI, RTI, reporting, holidays and benefits, etc. all these seem bits, but it can be confusing for non-Payroll professional, so we are here to take care of everything and save your time at a very affordable rate.
  • It will save your neck: If you submit the payroll documents with inaccurate information or late can incur a huge penalty fine. It’s not worth to give HMRC a reason to come after you.
  • It reduces error: An underpaid worker is an unhappy worker. Our professional will get things right for you at minimum tax and NI. We will claim employer NI to reduce your PAYE tax bill.

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VAT (Value Added Tax)

The UK VAT registered businesses must complete VAT return quarterly. However, To do simplified accounting, there is also a yearly VAT scheme in the UK. There is an option to comply with your VAT quarter end with the annual Financial year end. The VAT summarizes all the sales and purchases transactions that occurred during the VAT period.

Currently, there are two accounting method, Cash accounting and Accrual accounting. Most of the businesses use accrual accounting method however you can overpay or underpay your VAT bill if you are not sure which accounting method to use in your business. We strongly recommend taking the help of professional accounting firms like us, who will reduce your VAT bill to manage your cash flow.

Contact our team and start to save your money on your VAT.

Our Services Include:

  • Preparation of VAT Return
  • Advice on VAT Rates
  • Advice on your VAT Scheme (Standard vs Flat Rate)
  • Allowable Expenses Claim
  • Custom VAT claim
  • Advice on VAT Rates (Standard, reduced, Zero)
  • EC Sales list submission
  • Dealing with VAT Investigation
  • Submission of our VAT Return

VAT MTD

The UK VAT registered businesses must sign up for VAT MTD since 1st April 2019 if their turnover is above the VAT Threshold (Currently 85000GBP). They will need to:

  • Keep their records in digital Software like (Xero, QBO)
  • Provide their VAT return information to HMRC through MTD compatible software

We recommend Xero for VAT MTD submission. Its simple, secure, and affordable cloud-based accounting software helps you meet the new MTD for VAT filing requirements.

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Year End Accounts

The company year end is the date of your company accounting period ends. For small businesses and online sellers one of the difficult jobs is to prepare the year end accounts and corporation tax return. The process of incorporating your new company in the UK is straightforward. Every year, you must do some legal obligation to keep your company active in the public register. You must complete your company annual accounts with companies house within 9 months after the company financial year end. The corporation tax needs to be submitted to HMRC at the same time.

If you choose to do your own year-end accounts, it is a big risk, and you could overpay tax or miss out on to claim the available allowances. You can be fined for missing the deadline and filing your accounts with mistakes. We are more than happy to prepare your company year end accounts. We will be doing the online submission with HMRC and companies house on your behalf.

Our Services are designed to cover all type of businesses.

  • • Limited company accounts
  • • Sole Trader Accounts
  • • Partnership/LLP accounts
  • • Dormant Accounts
  • • Rental Property Accounts
  • • Corporation Tax Return

We are happy to gather the correct documents and prepare your year end accounts and corporation tax return. We will help you to determine the ideal way of moving forward. We are here to provide you hand holding support.

Please contact our team to get a reliable and affordable service. We aim to bring your business to the next level. We aim to contribute to your business growth.

In accounting, there are many adjustments to be made at the end of the year at the closing of the accounts. These Year-end adjustments include depreciation and amortization entries, inventory postings, provision entries, and accruals, prepaid expenses, receivables, and proceeds. They are recorded in advance.

Year-end adjustments in accounting: amortization

Depreciation corresponds to recognising the loss of value of a fixed asset over time due to its use and seniority. At each accounting closure, depreciation entries must, therefore, be calculated and recorded in the accounts. The calculation is done through a depreciation table.

Year-End Adjustments in Accounting: Inventories

At the end of the year, the company must determine its final stock and its change in stock. The variation is the difference between its final stock and its initial stock. An annual physical inventory is, therefore, often made during this period. The counted stocks are then valued according to the chosen method (CUMP, LIFO or FIFO).

Year-End Adjustments in Accounting: Provisions and Depreciation

Provisions and impairments are a means of recognizing the impairment of an asset. However, this loss can only be estimated both in terms of amount and date.

It is, for example, the setting in receivership of a client company that will generate writing of allowance for doubtful debts. The company does not know if it will be paid, by how much and when.

At each closing, an inventory is made to find out if the company must take back some or all of the provisions and depreciation.

Tax aspects

Before closing the accounts, you have to perform a series of transactions that have tax implications. It is necessary to adjust the goods account, to record the depreciation, the Assets and the accruals, to make the VAT declarations, to establish how and on which accounts the profit must be distributed and to carry out many other operations.

From the program’s point of view, it is equal if the profit at the end of the year is higher or lower. On the other hand, it changes a lot in terms of taxation. These aspects should be checked with your tax adviser and or accountant. In particular, it can be very useful to have an expert advise you to understand the requirements when you manage to account for the first time. Accountants are busy at the beginning of the year and in the period before the tax return deadline. It may be useful to meet with your accountant or send your book a few months before closing so that you can learn about the procedure.

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Bookkeeping

The Bookkeeping is a vital part of any business. It helps the companies to manage their cash flow efficiently and effectively. Also, it helps the businesses plan for the future and be aware of business outcomes. While keeping the bookkeeping record, a business can predict future growth, development and required budget at a specific period. Furthermore, it helps businesses to stay in line with the tax obligation and federal tax requirement.

Our competitive company offer you a reliable and affordable bookkeeping service. We will require your bank statements, invoices and receipts, and we will do the rest for you. You can share the google drive or dropbox folder to put the bank statements and receipts on a monthly or weekly basis.

Our Services Includes

  • Setup Bookkeeping Software
  • Setup Chart of Accounts
  • Record Bank Transactions to your Bookkeeping software
  • Record Sales & Purchase invoices
  • Bank Reconciliation
  • Suppliers and Customers contact setup
  • Aged creditors/Debtors Management
  • Prepare Profit & Loss Account
  • Prepare Balance Sheet
  • Financial Dashboard

We are fully experienced to assist you in managing your company bookkeeping service. We will take care of your all bookkeeping and finance work so you will time to make business decisions and grow your business. We are very keen to grow your business because when your business grows, we also grow.

Bookkeeping for small businesses

Bookkeeping is the act of categorizing all cash inflows and outflows into different classes of accounts and entering them in the general journal. The general journal records, chronologically and continuously, all the company’s economic operations during a period often called exercise. Making an accounting entry amounts to recording at least two movements: a debit and a credit in each journal. Note that encashment is recorded in the account in the bank account in the debit and disbursement to the credit. Bookkeeping is based on a fundamental principle of double-entry accounting. That is, there is always at least one write-through line and at least one credit-write line. For the same entry, the sum of the writing lines entered in the debit must be equal to the credit lines’ sum entered in the credit. In accounting terms, this indicates that the writing is “balanced or balanced”. The accounting entries also feed the balance of verification. The trial balance in accounting is a list of all your company’s accounts’ debit and credit balances. This bookkeeping record verifies that there were no errors and that the total debits are equal to the total credits. The company trial balance is usually prepared at the end of a financial period and is preparatory to producing financial statements.

The usefulness of good Bookkeeping

Keeping your books up to date regularly and effectively is essential for any entrepreneur. Not only can proper Bookkeeping meet the requirements of the authorities, make the appropriate payments on time, but it also allows:

  1. Immediately detect inconsistencies and discrepancies.
  2. Controlling cash flow (cash)
  3. Avoid errors and loss of documents.
  4. Know the performance of your company in detail and in real-time
  5. Ensure good business management and make informed business decisions.

How to carry out your Bookkeeping by yourself?

As a self-employed or small business, using accounting software is the easiest way to keep your Bookkeeping and accounting on your own at a low price. With online accounting and bookkeeping software like Kiwi, all you have to do is make transactions (bill your customers and enter your expenses), and the software will generate the log entries for you. However, using the software also save time and reduce the risk of errors.

Check your books with bank reconciliation.

The bank reconciliation is usually completed at the end of the month. The bank reconciliation is a process used to ensure that the company’s accounting records are in line with bank statements. Accounting software like Kiwili allows you to import your bank statements and check line by line if the transactions have posted in the general journal. Bank reconciliation is not compulsory, but it allows the concordance of the accounts’ data to be checked and to make sure of the reality of the accounting situation. The bank reconciliation is an essential measure for good Bookkeeping.

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