Finance and Accounting Services

From sole trader and partnership to limited liability partnership and limited company, there are various options. The most suitable option for your business will depend upon individual circumstances such as ownership, funding requirements and future plans. We can take you through the choices and find the right one for your company.

Limited companies and limited liability partnerships have a requirement to file their annual accounts at Companies House within nine months of their year-end. A limited company must also file a copy of its year-end accounts with its annual corporation tax return, which HMRC requires within 12 months of the year’s end. For sole traders and partnerships, there is no requirement to file accounts, but the information contained in them must be submitted on an annual personal or partnership tax return. There are some exceptions to these filing deadlines, so please do check with us.

There are many expenses that can be claimed through your business, and these very much depend upon the nature and structure of your business. To qualify as a tax-deductible expense, it must have been necessary and incurred wholly and exclusively for the purpose of the trade, and a full record of the expenditure must be kept. Valid areas of expenditure include office costs, motor and travel expenses, staff costs, marketing and advertising, legal and professional costs, bank charges and training. 

This will depend upon the legal structure of your business. Sole traders and partners are taxed on their proportion of the company’s trading profits. They are paid by way of drawings from the business, and these drawings are not included in the calculation of taxable profits. A proportion of the money drawn should be set aside to pay personal tax liabilities. 
If you’re a director and shareholder in a limited company, then we’d recommend that you pay yourself by way of salary and dividend. A little tax planning can ensure that you’re doing this as efficiently as possible and within HMRC guidelines, while maximising your take-home pay. You’ll also have the option of other benefits and pension contributions this way.

We take time to allocate you a dedicated, partner-led support team, so that you receive the due attention required at all times. This allows you to build trust and your dedicated team time to fully understand your business. There’ll always be one of your team members available to address your queries. You can rest assured that all our accounting experts are highly experienced professionals and your business needs will be met across the board. With a huge range of experience, we have the capacity to look after your accounting, payroll, audit and advisory services, giving you the best advice across a 360-degree spectrum.