Here at Pendragon we offer the following services
Sole traders and partnerships are required to prepare annual accounts to complete their Self Assessment Tax Returns. Limited companies are legally required to prepare annual accounts and file them in a statutory format acceptable to Companies House, and file their own Self Assessment Tax Return( known as a CT600).
We can prepare the necessary accounts, on your behalf, to ensure your legal obligations are fulfilled, and help you to avoid any late filing penalties.
We are happy to offer a tailor made service to anyone requiring more regular accounts. Such accounts will help you to identify when profits are both rising and falling, and provide you with the data to act effectively. This enables you to make informed financial decisions and take advantage of possible tax planning opportunities.
The preparation and filing of a tax return can be a complicated and onerous task, and can prove to be very costly should you get it wrong, or do not adhere to the stringent filing requirement as demanded by HMRC.
We routinely prepare Self Assessment Tax Returns for individuals,sole traders, partnerships and limited companies, and we can help to ensure that you not only meet the required deadlines, but that the returns are completed accurately.
Incorrect tax returns are one of the major causes for HMRC to launch an investigation.
Where you operate an private family owned company, you need to be aware of the most tax efficient methods of profit extraction. These normally centre around the declaration of dividends, amongst others.
To ensure that you are complying with the Companies Acts, the correct procedure needs to be followed.
We can ensure that these procedures are being followed by preparing the correct paperwork so that you are not declaring an “illegal dividend “.
VAT is one of the most complex areas of tax.
As VAT investigations are on the increase we can advise you on whether or not it is beneficial to register for VAT. If you are legally required to register for VAT, we can guide you through the registration process , and assist with the preparation of monthly / quarterly VAT returns, advising what you can correctly claim for.
Late filing of VAT returns, and late payment of VAT can lead to the raising of substantial surcharges, so it is important to get it right.
We can register you new PAYE schemes, and set up your scheme properly. We can also offer a payroll service providing you with payslips on a weekly , fortnightly , monthly basis, and ensuring that the necessary payroll forms are completed, and compliance with the new Real Time Information ( RTI ) system introduced by HMRC.
PAYE / NI liabilities can then be advised to you on a monthly basis, and payments filed with HMRC.
HMRC have implemented a new penalty regime for late “in-year” payments of PAYE / NI so it is now vital that such liabilities are paid over by the required monthly / quarterly deadlines, to avoid interest being charged.
If you are thinking of going into business it is essential to get it right from the start. We can run through the various legal structures available and advise you on the most tax efficient and suitable method for you.
We will ensure that the business correctly registers with HMRC within the required timescale, and with Companies House should the corporate route be chosen. We can advise you on what allowable costs to claim and the position with regards to the claiming of Capital Allowances, which has seen much revision over the last four years.
We can advise you on how to maintain an effective book-keeping system that is right for you, and how to maintain your books and records on an on going basis. We can provide you with a book-keeping spreadsheet should you so wish. This will ensure that you do not get into difficulty as the tax year end approaches.
If you require more regular accountancy support, then we will be happy to discuss your requirements and put forward a tailor made package for you.
If you require a business plan for financing or bank purposes, then we can prepare the necessary cash-flow and profit and loss account projections, to assist you in completing an accurate business plan.
