We’re good with numbers, but also with advice.
Our highly skilled team of bookkeepers and accountants are meticulous experts, but they’ll also provide you with informed recommendations in plain English. This practical, considered advice will enable you to make better business decisions.
The Rayner Essex accounting team has a wide range of experience, meaning we can even carry out all the duties of a finance department, while saving you the expense of full-time salaries. We can perform as many or as few functions as you like.
Here’s what we offer:
Year-end accounts preparation
Make sure you meet compliance requirements and get your accounts right. Our team will discuss the figures with you, so that you fully understand them and can use them to benefit your business. They’ll also give you guidance on any bookkeeping efficiencies or technology that could improve your current system.
Bookkeeping support and outsourced services
Do you need full or partial bookkeeping? System set-up? Or expert training for your employees? We’ll take the time to understand your current processes and the key information you need to monitor, and then set up or fine-tune an accounting system to perfectly suit your needs.
Of course, if you don’t have internal bookkeeping resources, then our virtual finance team can take care of everything for you.
VAT advice and VAT return preparation
It’s vital that you understand the basics of VAT and remain compliant. As the rules change or your business moves into new areas, your VAT affairs may become more complex and you might need the technical expertise of our VAT director.
Get a clear view of your business and where it’s heading, allowing you to make informed strategic decisions. Unlike annual accounts, the layout and level of detail is decided by you, with room for more analysis or charts where you need them.
Are you looking to start a brand-new business? Or embarking on a new project that needs external funding? Either way, we can provide the business plans and cash flow forecasts you need to ensure your venture is viable.
With the help of our tax, payroll and company secretarial services, we can provide expert guidance on remuneration strategy and exit planning. We’ll also help you to evaluate the best combination of drawing a salary and taking dividends.
Cloud accounting and apps
Let our expert team guide you through the maze of cloud accounting packages and apps, so you get the flexibility and features your business needs.
Speak to us about accounting services today
What structure should my new business have?
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.
When do I need to prepare and submit my accounts?
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.
What expenses can I claim through my business?
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.
But remember, the expenditure must be related to your business. For example, you can’t claim the cost of a five-week course in beauty therapy if your trade is architecture.
How should I pay myself?
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.