With a wide range of accounting and business-related services, we provide business solutions to meet virtually all your needs.
- Self-assessment Tax Returns
- Year End financial statements and Corporation Tax
- Accounts Preparation
- VAT Registration
- VAT returns
- Bookkeeping Services
- Payroll Services
- HMRC Representation
- Company setup
- Statutory Compliance Services
- Bank account opening
- Business Planning and Management accounting Services
We understand that setting up a business in the UK can be a daunting process. We can make the start of your journey as seamless as possible if you can allow us to handle the following:
- Advice on the correct structure of your UK company set-up
- Company formation
- Opening a business bank account
- Registering for VAT
- Registering as an employer (PAYE scheme set-up)
- General advice in terms of record-keeping and statutory obligations
We are passionate about getting business owners started and will happily meet with you to guide you through the process of setting up your company
Keeping your accounts up-to-date is vital for your business’s success as it affects all aspects of your business. Our dedicated bookkeeping team will help you maintain proper accounts and books. Our Bookkeeping services include:
- Processing of transactions
- Preparation of supplier remittances and payments
- Customer invoicing and credit control
- Bank and key balance sheet account reconciliation
- Active week-to-week cash flow management
We appreciate the fact that your business requirements can be unique so we provide bespoken accounting solution specifically tailored to your needs. This includes the hours you will need, when, where and how we will deliver the service and which accounting package you would like us to use.
All clients would be provided with online access to your accounts, thus making it easy to work with clients from all parts of the UK.
One of our main priorities as your accountant is to manage your business’s VAT accurately and within deadlines. You may wish to know whether you should register for VAT or get VAT-registered? Or which VAT scheme is best-suited to your business needs? We can help. Our VAT registration service will help you get VAT-registered, assist you in managing your VAT and help you complete your monthly, quarterly or yearly VAT returns.
From 1st April 2019, it becomes mandatory that businesses with a turnover above the VAT threshold (£85,000) will have to keep their records digitally (for VAT purposes only) and submit their VAT return information to HMRC through Making Tax Digital compatible software including Quick Books. And from 1st April 2020, those earning over £10,000 annually but are under the VAT threshold will join the Making Tax Digital. We strive to keep you right up to date with legislation and industry trends, and always look for opportunities whereby you can increase tax efficiency. So, we will let you know if there are any further changes.
Management Accounting Services
Management accounts provide the analysis and insight of how a business has been performing. They include forward-looking projections to aid business decisions. At BB Accounting we tailor management accounting services to suit the needs of your management team, enabling them to make informed strategic decisions. We work with you to identify what is important to track and monitor the performance of your business. Our management accounting services include:
- Profit and loss per period
- Actual versus budgeted performance
- Cash flow forecasts
- Key performance indicators
- Reports that analyse significant changes
- Profitability of projects
- Product or marketing activities
Your employees are your most valuable business assets. Ensuring that they are remunerated for their work in an efficient, timely way is of the utmost importance to us. Take the pressure off and give yourself the time to focus on developing your business by outsourcing your payroll to us. Our dedicated team will ensure that all your employees are paid on time, all filing obligations met and all payroll queries resolved swiftly. We prepare payroll on a weekly, fortnightly or monthly basis – depending on your requirements. We take care of the following:
- Processing of payroll on approved, gross pay schedules
- Distribution of employee payslips and P11 reports by email and post (if required)
- Generation of HMRC remittances for statutory deductions
- Preparation and submission of year-end payroll returns, including P14s, P60s and P35s
- Preparation of annual P11Ds (if required)
Self Assesment Tax Returns
If any of the below criteria apply to you, you will need to complete a Self-Assessment tax return:
- You are self-employed
- You are a company director
- You have an annual income of £100,000 or more
- You have income from savings, investment or property (unless collected via PAYE)
- You receive income from overseas
- You have income from trusts, settlements and estates
- You have Capital Gains Tax to pay
Tax returns must be filed on time. If you haven’t filed your Self-Assessment return by the 31 January deadline, you will be liable for an instant £100 penalty on the 1st of February. Laws and rules change all the time. You have to be on top of them or your business could be affected. That is why we handle tax matters also. Let us worry about all aspects of your account while you concentrate on growing your business.
Year End Financial Statements and Coporation Tax
Your company is required by law to report its financial position to HMRC and Companies House on an annual basis. Your year-end financial statements should cover your past financial year and declare your Corporation Tax Liability. Our team are on hand to help you meet this filing obligation and review your accounts with you. This will also help us to advise you of any changes that you can implement to increase your tax-efficiency. Here, we can help you in the following ways:
- Preparing your annual year-end financial statements
- Submitting them to HMRC and Companies House
- Preparing your Corporation Tax return and its supporting workings
- Sending the electronic submission to HMRC
- Preparing your audit file in preparation for your end-of-year audit (if required)
Personal Tax Returns
You may be a director of a UK limited company or working or a self-employed contractor. You may have rental income or any other sources of income that you need to declare on your personal tax returns. Our team can assist you with the following:
- Preparing sole trader accounts
- Preparing partnership accounts
- Preparing personal tax returns
- Preparing partnership tax returns
- Filing these returns online
- Advising on tax liability and due date
Statutory Compliance Services
When you have your own business, you have certain statutory filing obligations. We have a dedicated team that performs the role of outsourced company secretarial services. We can carry out several obligated functions for you including:
- Performing the role of company secretary
- Preparing and filing the annual return form for Companies House
- Filing of changes to company officials, addresses, shareholders, etc with Companies House
- Preparing board minutes and passing resolutions
- Preparing share and dividend certificates
- Fulfilling the role of registered office
- Notifying Companies House of any changes in share capital
Other General Services
We can offer our clients the following:
- payments to staff and HMRC on client’s behalf
- mortgage and other borrowing advice
- virtual office/company address services
Cloud-Based Quick Books Functionality
With our cloud-based applications (QuickBooks and Senta) you can upload and send documents to us online. The QuickBooks offers the following functionality:
- Dashboard: Instantly see all your bank balances, recent sales and upcoming bills.
- Mobile: Do invoicing, expenses and track cashflow on the go.
- Purchase Orders: Create and email custom purchase orders and copy to bills for payment.
- Expense Claims: Handle personal expenses – just review and approve receipts.
- Pay bills: Manage your spending and make bill payments in bulk to creditors.
- Collaboration: Real-time Collaboration with us.
Ready to discuss your business and accounting needs? Contact us during the listed work hours with any of our details below or use the contact form provided.