Limited companies are registered on-line with Companies House.  We offer a full incorporation service to ensure these are set up correctly.

If your rolling 12 month turnover exceeds the Vat threshold in place at the time then Vat registration is compulsory.  We can assist on whether voluntary registration is right for your business.

There are many banks that offer varying packages for new business bank accounts.  Usually these are applied for on-line with the process being completed in branch.

You need to register as self-employed as soon as you are actively seeking work for your business.

A company may require an audit if particular thresholds are breached.  There may also be other requirements for an audit as the company’s Articles of Association may require an audit to be performed, or there may be other external requirements for an audit.

If you have relatively straightforward tax affairs and already pay tax through PAYE (Pay As You Earn) you probably won’t need to complete a tax return. But if you have more complicated tax affairs – or income from several sources – you may need to complete one. Company Directors are also required to complete a Tax Return.

Accounts for Private Limited Companies need to be filed within nine months of the company’s financial year-end.

This may be achieved by increasing your sales volume, increasing your selling price or finding ways to reduce your cost of sales.

Monthly management accounts give the business an opportunity to make informed decisions based on their position and performance.  Regular information aids us to give sustained pro-active advice that is relevant to your business.  Management accounts may also be requested by external sources such as Financial Institutions.

Preparation of these can be time consuming and confusing.  We can help prepare these for you with your assistance with key facts and presumptions about your business.

Due to the increasing number of financial products on offer, choosing the best strategy for you can be confusing.  We are happy to recommend a number of Independent Financial Advisers who would be happy to assist.

There are many benefits of putting money into a pension, one being the tax relief on contributions.  Our specialist tax department will be more than happy to advise on how you could benefit.

If you are an employer with staff working for you in the UK, then auto-enrol for pensions applies to you.  First thing to do is to check when your staging date is as early planning is essential.

As an employer, you normally have to operate PAYE as part of your payroll.

We have a dedicated Book-keeping department who can ensure that your records meet the requirements set by HMRC.

Yes we do this for the majority of our clients who are happy to leave this for us to look after.  Services such as submitting Annual Returns or maybe changes to a company’s Articles of Association.

Corporation tax is paid on profits by companies.  Income tax is a tax levied on personal income.

IR35 can apply when you work for a client through an intermediary such as a limited company.  Contact us for more information to see if this applies to your circumstances.

This will depend on your annual income (and in some cases the value of your assets).  Limits do get changed therefore it is important to check what is in place when the time comes.

Potentially!  Whilst there are a number of tax and vat reliefs available it is a common myth that charities do not have to pay taxes.

Your charity is trading if it sells goods or services to customers.  Contact us to find out if there are any tax and vat implications and what reliefs are currently available.

The flat rate scheme is a simplified way of looking after your Vat affairs.  The decision will usually be based on what industry you are in and what the nature of your purchases are.

Yes.  In order to qualify a company must have engaged in qualifying Research and Development activity and then satisfy a number of conditions.

The decision to be a sole trader/partnership or a Limited company is not just based on one factor such as tax.  There are many advantages and disadvantages when deciding what structure is best.  We are happy to go through all the pros and cons with you so that you can make an informed decision.

As well as the obvious implication of where will the money or finance come from to acquire machinery there are important tax implications as a consequence of the method of purchase that needs to be considered.  We are happy to go through these so that the right choice that is best for you can be made.

You can claim capital allowances when you buy assets that you keep to use in your business.  We assist with tax planning to ensure the timing of your relief is the most tax advantageous.

Costs are incurred in turning raw materials into finished products.  We can provide you with a step by step guide that will help you calculate your work in progress.

Historically grants have been available in this sector.  Contact us to find out more and any available grants that we are currently aware of.

Yes this is something that we do on a regular basis for our clients.

Yes doctors can become limited companies. This is a complex area so please do consult us for more information.

There will be tax implications on appointing a new partner.  To see how this affects your tax position and your partner’s please contact us for more information.

Any business that receives exempt income is partly exempt for vat purposes and de-minimis calculations will be required.  Eye tests and dispensing services mean that Opticians will need to perform these calculations.

We would recommend that our advice is sought before purchase as Partial Exemption and De-Minimis will need to be considered to ascertain eligibility for reclaim.

It is possible to be a self employed locum optometrist.  We will provide assistance in completing a Self Assessment Tax Return if you fall within the HMRC guidelines.

There are a number of ways to value an Opticians Practice.  It could well be that an asset basis is used or an earnings basis taking into account Price/Earning Ratios.

It is possible for a locum to be self-employed, however HMRC guidance must be sought to ensure what the correct tax status is.  Contact us for more details and advice.

There are many factors that can affect the value of your pharmacy.  Contact us to find out what will determine the current value of your business.

Income streams for Pharmacies attract different rates of vat.  Contact us for information on which income attracts which particular rate of vat.

Under the Construction Industry Scheme (CIS), contractors deduct money from a subcontractor’s payments and pass it to HMRC. The deductions count as advance payments towards the subcontractor’s tax and National Insurance. Contractors must register for the scheme. Subcontractors don’t have to register, but deductions are taken from their payments at a higher rate if they’re not registered.

The CIS scheme affects businesses involved in construction.  To ensure that you are compliant with the rules please do get in touch.

Costs of construction can accrue over a long period of time.  For help in ascertaining what the value of your work in progress is, contact us for our assistance in calculating using the correct methods acceptable by HMRC and for Financial Reporting.

This is a complex area, for example dealings in land could be standard rated, zero rated, exempt or outside the scope of vat.  Contact us for more information.

This may be achieved by increasing your sales volume, increasing your selling price or finding ways to reduce your cost of sales.

There are different Vat Schemes available, and indeed a Vat Scheme for Retailers.  Contact us for more information on how this works.

Your business could be franchised but first the question should be posed “Should I franchise?” and “How best am I to go about doing this successfully?”  We are happy to provide guidance and support through the process.

Careful consideration has to be taken over a number of areas for example tax and vat issues so you are aware of how this will affect your business.

Recent changes to the format of these reports and the criteria for qualifying accounts and submitting them should reduce the burden on Practices.  Contact us for the most up to date information to ascertain what your requirements are.

Solicitors often have difficulties when billing in identifying those items of expenditure incurred by themselves in the course of acting for their client which can be classified as disbursements for VAT purposes, and those which cannot.  Specific criteria must be met.  For more information, please contact us.

Solicitors must comply with the rules listed in the SRA Handbook for transferring client monies to ensure that they operate within the law.  Solicitors must adhere to the many stringent rules listed to ensure that there are no reportable breaches and clients money is protected at all times.

There are many factors that will decide what is the right structure for your business.  We are happy to sit down and discuss with you what is best for your practice.

This is possible; it may not always be the best option.  Contact us for more information and advice.

Yes, if used in the course of your business.

In most circumstances Dentists will not be required to register, however advice should be sought to ensure that this is applicable for your business.

National Association of Specialist Dental Accountants and Lawyers.  We are a member of this specialist group, being the only current member at the time of writing in Merseyside.