Compliance work is work that must be carried out by law, whichever accountancy firm you use.
For Sole Traders and Partnerships, this may include:
- Self-Assessment Tax return for every sole trader and each partner.
- Self Assessment Partnership Return.
- The completion of a set of accounts, the details of which have to be included on the Self Assessment Tax return.
For Limited Companies, this may include:
- Self-Assessment Tax returns for each director.
- The completion of detailed accounts with layout in accordance with The Companies Act. (Apart from these being important to assess the performance of the business, they also have to be submitted to HM Revenue & Customs with the Companies Corporation Tax return.)
- Abbreviated accounts to be submitted to Companies House. This comprises of the Balance Sheet only, together with a very limited set of notes.
- Online filing of company’s annual return. This details who are the current Directors and Shareholders.
The accounts listed above are prepared using the information and explanations provided to us by our clients. They are not audited accounts, as they are only needed if the sales of a limited company are above £6.5 million.
At DP Accounting, we guarantee a quality and extremely thorough tax review service. In order to do our job to the highest standard, we endeavour to establish a comprehensive understanding of our client’s business, and their own personal and family circumstances.
This in depth understanding of our clients means that we can come up with tax saving ideas and implement them when preparing our client’s accounts. Although this service may cost a little more and isn’t automatically included in the fee quoted; the extra time, thorough research and detailed understanding of a client’s circumstances means that we can implement all possible tax savings. Which we are sure you’ll agree is worth it in the long run!
There are several questions that need to be asked before we offer a comprehensive taxation service which explores possible tax savings, all of which are essential. For example:
- What is the current tax legislation?
- Are there any impending changes as announced in the pre-budget reports?
- Are the potential tax savings sustainable and greater than the costs of implementation?
You can appreciate that this takes a great deal of time, work and in depth research. Our fixed fee service, coupled with the expertise of our taxation experts, and working in partnership with Financial Planning Consultants, allows DPA to offer you a comprehensive taxation service that will help you to guard your business and your family’s wealth.
Independent VAT Advice
Our dedicated VAT specialist is a member of the Institute of Indirect Taxation and of the VAT Practitioner’s Group and has over 20 years experience, including 12 years gained in the employment of HM Customs & Excise.
Our VAT specialist provides advice on all aspects of VAT including:
- VAT Planning – Land and Property Transactions, VAT grouping of companies, improving VAT recovery and cash flow.
- Assessment Reviews – Negotiating with local VAT office and preparing and presenting tribunal appeals.
- Partial Exemption – Devising special methods to enhance input tax recovery.
If you could benefit from an accountant that gives you more than just numbers,
then its time to get in touch!
Call DP Accounting today on 01246 451 133
We look forward to hearing from you!