Business accounts & taxation
We act as accountants and tax advisors for a wide range of business types and sizes. The annual accounts of your business form the basis for the profits that are reported to H M Revenue & Customs on the business tax return. Therefore, ensuring that any potential tax issues are identified during the accounts preparation process is essential to ensuring that these can be addressed at an early stage and reported to H M Revenue & Customs as appropriate. For this reason at F E Metcalfe & Co all accounts and tax returns are reviewed each year by one of our Directors.
Accounts preparation is a core part of our business and we make every effort to meet your needs promptly and efficiently. Our services include:
- accounts for partnerships and sole traders to support tax returns
- statutory accounts for Limited Companies and Limited Liability Partnerships to comply with Companies Act requirements
- management accounts, monthly or quarterly as required
- budgets and cash flow forecasts
Our staff have a wealth of experience in the preparation of accounts. We tailor our service depending on the quality of the information that you provide to us. We are able to prepare accounts from scratch right through to using a fully reconciled nominal ledger from an accounting package. As a matter of routine we will provide feedback on improvements that you can make to your record keeping in order to improve the efficiency of the accounts preparation and reduce your future fees.
We can assist you with a review of the impact that the change in UK accounting standards, that has taken affect for accounting periods starting after 1 January 2015, will have on your business accounts and assess the corporation tax impact for your business. We can also help you understand the impact that the changes to your accounts are likely to have on other parties that use your accounts, for example banks and suppliers.
Business and Corporate Tax
Ensuring that your business complies with tax legislation and structuring your business to minimise your tax payments is fundamental to our service to you.
We deal with all business tax matters, including preparing income and corporation tax computations, preparing and submitting the relevant self-assessment returns and advising you of the amount of tax payable and due dates for payments. We are able to file Income Tax Returns and Corporation Tax Returns using the HMRC on-line filing service, which provides you with certainty that the returns have been received by HMRC and extends the filing deadlines.
We also act as your tax agents communicating directly with H M Revenue & Customs on your behalf. This minimises disruption to your business from routine HMRC communications and provides you with the best chance of resolving problems efficiently and in your favour.
Companies are now required to file Corporation Tax Returns that include accounts in iXBRL format. Our services include the on-line submission of Corporation Tax Returns and preparing accounts in iXBRL format. We can assist you with preparing accounts in iXBRL format for submission with Corporation Tax Returns even if we do not prepare your accounts.
H M Revenue & Customs Investigations
Being the subject of a tax investigation by the H M Revenue & Customs can be a stressful and worrying experience. Since the onset of personal and corporate self-assessment, HMRC staff can now review cases on a ‘sample basis’: consequently your business or personal return may be selected for investigation at some stage. We have the relevant experience to help you deal with the enquiry.
We are able to communicate directly with HMRC on your behalf, as your appointed tax agents. For most clients this is less stressful that communicating with H M Revenue & Customs directly and it means that we can manage the enquiry process to maximise your prospects of resolving and concluding the enquiry quickly and to your best advantage.
If you are the subject of a H M Revenue & Customs enquiry and you are not a client of F E Metcalfe & Co we would be happy to meet and discuss your circumstances to see if we can assist you with the enquiry
Require more information?
If you would like more information we would be delighted to speak to you - please call 01765 604 215. Or if you would prefer, ask us a question online.