Services
Bookkeeping Solutions for Individuals and Businesses
We offer a wide array of services for individuals, small to medium businesses. we would love to help.
Whether you want a one off, weekly, Monthly or Quarterly services.
Scroll down to learn more about what we offer.
Preparation of VAT Returns (Making Tax Digital- MTD)
VAT returns and Making Tax Digital (MTD) are closely related, as MTD is a UK government initiative that requires businesses to use digital tools and submit their VAT returns digitally.
Value Added Tax (VAT) is a consumption tax levied on the sale of goods and services in the UK and many other countries. VAT-registered businesses are required to submit VAT returns to HM Revenue and Customs (HMRC) to report their VAT liabilities and claim any VAT refunds. VAT returns typically include details of sales, purchases, VAT charged, and VAT paid.
MTD is an initiative introduced by HMRC to make the UK tax system more efficient and transparent. It aims to digitize tax administration and reporting, starting with VAT. Under MTD, businesses with a taxable turnover above the VAT threshold (currently £85,000) must keep digital records and submit their VAT returns using MTD-compatible software.
Bank Reconciliations
Bank reconciliations help ensure the accuracy of financial records.
By comparing the transactions recorded in your accounting system with the transactions reflected in the bank statement, you can identify any discrepancies, such as missing or duplicate entries, and correct them promptly. This helps maintain accurate and reliable financial records.
CIS (Construction Industry Scheme)
The Construction Industry Scheme (CIS) is a UK government initiative that aims to regulate payments made to subcontractors within the construction industry. The scheme helps ensure that subcontractors are correctly registered for tax purposes and that tax deductions are made on their payments.
Account Reporting
Account reporting promotes transparency by providing a clear and detailed view of a company's financial transactions and activities.
Regular and accurate account reporting aids in identifying potential risks and vulnerabilities in a company's financial position. This enables businesses to implement risk management strategies effectively and proactively, reducing the likelihood of financial crises.
Account reporting serves as a foundation for sound business planning and budgeting. Companies can use financial data to forecast future performance, set realistic targets, and develop strategies to achieve their goals.