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Most small business owners are passionate about their products or services, not about managing accounts and bookkeeping. Focus on what you enjoy, and leave the complex tasks of handling taxes and accounts to us. Our professionals will manage this challenging aspect of your business, so you don’t have to worry.
We will prepare your monthly or quarterly Profit & Loss Account and Balance Sheet. Along with personalized guidance, your experienced accountant will also provide tax estimations.
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- contact@theaccountantpoint.co.uk
- +44 7840 100 078
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Financial Reports FAQs
The specific services provided can vary depending on the package you choose, and some items may be priced separately.
Before signing up with a new accountancy service, ensure you have a detailed breakdown of their responsibilities and the costs of any additional services that may be charged on top of the monthly fee. At The Accountant Point, there are no extra charges; our fixed monthly fee covers all your accountancy needs.
Your accountant can offer the following initial assistance:
- Consultation and advice on the most appropriate business structure
- Assistance with incorporating your business through Companies House (for limited companies)
- Registration for self-assessment (for sole traders or partners in a partnership)
- Help with opening a business bank account
- VAT registration, if required
- Corporation Tax registration (for limited companies)
- Setting up a PAYE account for your company
- Creating a payroll system for all employees
Monthly or quarterly accounting tasks include:
- Monthly or quarterly bookkeeping
- Quarterly VAT return submissions
- Running the monthly payroll and ensuring compliance with RTI standards
- Providing pay slips to employees on a monthly or weekly basis
- Preparing the company’s annual financial statements
- Filing the Annual Corporation Tax Return (CT600)
- Handling dividend declarations
- Creating management reports
- Submitting the Annual Return (AR01) to Companies House
- Reporting changes to company information to Companies House
- Providing references for mortgage or rental agreements
- Handling correspondence from Companies House and HMRC
Added-value services include:
- Completing your self-assessment form, which is required for all self-employed individuals and company directors. Partnerships must file a separate return in addition to the returns of their members.
- Providing a registered office address for limited companies, if necessary.
- Conducting IR35 contract assessments for personal service companies, such as IT contractors.
- Offering ongoing proactive tax advice.
- Facilitating access to commercial insurance providers, including PI insurance, tax investigation insurance, and business liability insurance.
- Providing services through an IFA, such as advice on financial products including mortgages, pensions, and life insurance.
Your Responsibilities:
- Ensure your accountant receives all necessary information on time and accurately.
- Provide a detailed list of all invoices received, claimed expenses, and any additional revenue or costs.
- Forward all correspondence from Companies House or HMRC, along with copies of your bank statements.
- Depending on the level of your accountant’s online capabilities, many of these tasks can be easily completed online.