HR Book Keeping

You Do The Business, While We Do The Books

A Tailored Service

There is no point in being busy if you can't keep track of how much money you are actually making. We offer a very tailored package, from a full invoicing service, to just checking everything is in order. Want monthly or quarterly management accounts? No problem!

Tax Returns And Company Accounts

If you are a Limited Companies or a Limited Liability Partnerships then you have a legal obligation to submit your accounts to Companies House. But even if you are a Sole Trader or Partnership, you still need recognisable accounts for the HMRC. But did you know that if your turnover is under the thresholds of £6.5m for turnover and £3.26m on your balance sheet you don't actually need an accountant to audit your accounts?

In fact, if you are a small business, as defined by HMRC you don't actually have to employ an accountant at all. Now don't get me wrong, an accountant can be very useful at times, but do you really want to pay accountancy rates for your everyday book keeping tasks?

We can help you prepare all your statutory accounts. Soon every small business will have to do their tax returns online. This may sound daunting, but the system is actually very easy to use once you understand what it is asking for. We can help you to put the right figures into the right boxes. As they say in the advert, Tax doesn't have to be Taxing. And we believe you shouldn't have to pay hundreds of pounds just to tell the tax man how much profit you made.

Record Your Legitimate Expenses

Every day you pay out money just to be able to run your business. If you don't keep track of those expenses you will be doubly penalised. All legitimate business expenses are tax deductable, that means you subtract them from your profits so that you end up with less taxable profits, therefore you pay less tax.

If you don't claim your legitimate expenses, not only do you lose the tax saving, but you are effectively paying more for what you buy. For instance you may buy something for £1 and let's say your tax rate is 20%. If you claim it against tax, then you get 20p back, so the item has effectively only cost you 80p. But if you don't claim it, then you pay tax on that pound because it is then part of your profits, which will again be 20p. So the item has effectively cost you £1.20, which is 50% more! And the same rules apply whether it's a £1 or £100.

If your idea of tracking expenses is just putting all the bills and receipts into a carrier bag, then that's OK with us. Just give the bag to us and we will sort them out for you. We will file them in a way the tax man will like and enter them onto your accounting system to reduce your tax bill. Don't lose money by failing to claim all your legitimate business expenses!

Invoicing Your Customers - And Getting Paid

When you do the work then you want to get paid. And the faster you invoice, the faster you get paid! Your invoices need certain information on them to make them legal. Don't get fobbed off by customers saying that they haven't had a proper invoice!

We can create a custom invoice for your business and can even chase up debtors for you. All you need to do is provide us with who the invoice is for, the work completed and the amount and we will do the rest. Alternatively, we will create a template for you to use and all you need to do is send us a copy for your records.

Is VAT A Nightmare?

VAT causing you a headache? Should you even be registered? We can help with these questions and more. We can also submit your VAT returns on your behalf. For most companies, these now have to be done online and the money is collected by direct debit. If you forget to submit a return you could end up with an additional penalty and interest on the missed payment.

Keep Track Of How The Business Is Doing

If you don't understand Balance Sheets, Profit and Loss accounts or Cash Flow Forecasts, then we can help. We don't use accountancy speak; we prefer to be straight talking. So if you want to keep track of how your business is really doing, then we can help.

We specialise in the accounts of small businesses whether they are Sole Traders, Limited Companies, Partnerships or Limited Liability Partnerships. We can prepare management accounts for you on a monthly or weekly basis. That way you will always know exactly where you are.

Employing Staff

If you employ others we can handle all your payroll requirements as well. Make sure that you don't miss any of the HMRC deadlines as these can cost you in unwanted and unnecessary penalties.

We can also provide you with access to specialist HR services, including grievance procedures and creating your employee handbook and contracts. These are now a legal requirement for anyone employing people.