Accountants Farnborough

Limited Company Accountant

The majority of our customers are Limited companies. A Limited company is a separate legal entity distinct from you, and it has its own set of tax, accounting, and filing requirements. It must file corporate tax returns with HMRC and annual statutory accounts with Companies House. Most Limited company Directors want to outsource this work to experts like us because they are concerned about missing dates, breaking the rules, or incurring fines. Our expert accountants can assist here.

Another key issue for business owners is how they’ll pay you. This is generally through a mix of salaries and dividends, which our tax experts work with Limited company company owners to keep their taxes optimized and efficient.

There are several tax benefits of establishing a Limited company, but the increased legal and filing requirements are also a factor to consider. This is where we can assist; our accounting packages include end-of-year accounts, tax returns, director tax returns, VAT filings, and bookkeeping services for a Limited company in Farnborough. This maintains your compliance and allows you to take control of your Company Tax and Accounting Procedures.

Small Business Accountants 

Tax and accounting duties may at times feel overwhelming as a business owner. This is where Chartered Accountants like us can assist. We work with a variety of small enterprises in Farnborough to assist them in meeting their accounting and tax obligations. To maintain them tax efficient, we also assist small firms optimize their tax affairs.

We provide this by combining our many years of expertise and knowledge to give you an accounting and tax service that you can count on.

Whether you need assistance with HMRC, preparing and submitting your VAT return, or setting up a payroll for you and your staff, we can help. We don’t believe in charging by the hour as a client; instead, we agree ahead of time on a fixed fee basis for meetings, phone and email assistance.

What is a small business?

In the United Kingdom, a small company is defined as one with less than £10 million in annual turnover and no more than 50 workers. This implies that the vast majority of UK companies are legally classed as being small.

The majority of Farnborough company owners, however, do not consider their firm to be “small.” After all, it’s their company and their livelihood, and they’ve worked hard to get it where it is. We learn that this makes most small businesses fairly distinctive, which is why we treat you the same way.

What Accounting services do we offer for small businesses in Farnborough?

We frequently work with small and medium-sized businesses that use one of our accounting solutions. These consist of all of the accounting and tax services your company may need, including cloud software, bookkeeping & preparation of VAT returns, payroll, annual accounts, corporate tax returns, management reporting, personal tax returns, and tax advisory services.

VAT Accounting

Currently, businesses with more than £85,000 in sales on a 12-month rolling basis are required to register for VAT. Many organizations that do not reach the VAT threshold of £85,000 choose to declare because it allows them to reclaim any VAT they have paid. We recommend consulting with HMRC before registering so you can get some expert guidance.

When you join the VAT system, you will almost certainly be required to file quarterly VAT returns. Because VAT returns must be “Making Tax Digital” (MTD) compliant, they are usually prepared with a program. The increased administration and filing requirements that come with registering for VAT might get in the way of your company’s growth. That is where we can assist.

Our VAT accountants can help you with preparing and submitting your VAT return. We accomplish this by utilizing cloud technology such as Xero that is fully MTD compliant. This gives you the comfort of knowing that a VAT accounting expert is on hand to assist you. Another reason you’ll want a VAT accountant is because VAT is complicated! Because the nature of goods and services varies, different supplies are taxed at varying rates, and purchases may or may not include VAT. Most companies we encounter prefer to delegate this work to us and our professional accountants. They maintain your tax compliance while also assisting in the assurance that you’re not overpaying.

Management reporting

Accounts that provide information and insights to help business owners make accurate, timely judgments about their enterprises are called management accounts. It’s the same as putting a blindfold on to run your company if you don’t use management accounts.

At Raw, our seasoned accountants can assist you in generating management reports that provide the information you require. Our management reports monitor your company’s most important finances as well as a few non-financial KPI indicators to help keep it on track.

Personal Tax Returns

Although you are a self-employed individual, most Limited company directors who receive dividends, and other types of income such as landlords with rental properties, you must file personal tax returns. We can relieve the burden of preparing your return by providing professional accountants and tax advisers. We also assist in determining any possibilities that may be utilized to optimize your taxes and lower how much you pay to HMRC.

Bookkeeping Services Farnborough

We at Raw think that bookkeeping services are critical to the success of your small business’s finances. Getting things right at the beginning of the bookkeeping process is essential because done correctly, it provides you with a correct and timely picture of your business. It shows you in real time how your financial position is looking.

Bookkeeping, on the other hand, is not a particularly interesting task. Bookkeeping is the method of recording a company’s financial transactions. Sales, purchases, cash payments and receipts, wages and VAT registrations are some of the transactions that may be recorded. That’s where we can assist; our accountants and bookkeepers can help you keep track of your business’s activities and make sure your bookkeeping system is organized and effective.

We’ve seen the importance of accurate, on-time bookkeeping in small firms. As a service, we believe it will have the most significant impact on your company’s overall financial performance and putting you back in control. We provide small firm accounting solutions that include bookkeeping as part of the package, freeing you to focus on running your business while also assuring that transactions are recorded correctly.

Online Accounting 

Cloud accounting software like Xero makes it easy to document your company’s financial transactions so that you can stay on top of things. It works best with a receipt scanning app like HubDoc, which captures transaction information from invoices and receipts. Cloud accounting is well worth the investment for £20 per month or less.

We offer advice on cloud accounting software setup and are certified on a number of popular cloud accounting solutions, including Xero & FreeAgent.