Accounting Sphere Logo
ACCA logo
Accounting Sphere is a member of ACCA
Association of Chartered Certified Accountants
 

Services

A brief summary of our services is as follows:

   
*
Business startup services
*
Personal Tax
*
*
Corporation Tax
*
Accounting compliance services
*
Business plans and raising finance
*
Bookkeeping, VAT and payroll services
*
CIS



Business startup services

 

You want to start a business because you have a good business proposition and the expertise and commitment to see it through, not because you are expert in the legal, financial, and fiscal aspects of running a business. That's where we come in. We help you focus on what you do best and provide all the necessary background support. We can help you to;

- Decide on the most suitable structure for your business - sole trader, partnership, or limited company

- Prepare a business plan, cash flow projections, budgets, and forecasts

- Assess your finance needs, advise on the best sources of finance, and draw up the necessary proposals

- Complete the registration procedures with Companies House and HM Revenue & Customs

- Deal with company secretarial issues

- Set up systems for your internal use and for complying with statutory requirements

Return to top

Company secretarial services:

 

The last thing you need as a busy business owner is to use up valuable time and resources making sure you are complying with the Companies Act 2006. Our Company Secretarial service ensures all relevant documentation is completed and filed with the appropriate governing body. Our services include;

- Company formation

- Preparing documentation for annual general meetings

- VAT and PAYE scheme registration

- Maintaining statutory registers

- Preparation and filing of statutory returns

Return to top

Accountancy compliance service

 

As with all accountancy practices Accounting Sphere are able to prepare the financial statements of sole traders, partnerships and limited companies and calculate the tax liabilities thereon.

We actively manage the timing of the accounts production process to ensure that you meet your statutory responsibilities and through this information, take advantage of early tax planning opportunities.

We work closely with our clients to fully understand your business and plans for the future. We prepare our work in line with your requirements in order to achieve your goals.

We take this opportunity to perform an annual ‘Financial Health Check’. We ensure all business risks and system weaknesses are identified and make recommendations for improvement.

Return to top

Bookkeeping, VAT and payroll services

 

We can relieve you and your staff of an enormous burden by taking care of all your bookkeeping needs. We can also provide you with regular management accounts to keep you informed on essential areas such as cash flow, profitability, performance ratios and budget comparisons.

Besides your core bookkeeping, we can also maintain your VAT records and submit your VAT returns to relieve your staff of any temporary overload.

Our payroll services can accommodate all your payroll requirements, ensuring that your PAYE is always accurate. We will also prepare your yearend returns and make certain that you meet all your compliance obligations.

Return to top

Personal tax

 

As a sole trader one of your largest expenses will be your tax paid under the self-assessment system. We will help you plan ahead for and most importantly make sure that you’re not paying too much tax. Every pound of income tax you save means more income at your disposal, every well planned disposal of assets means minimum capital gains tax, and every inheritance tax saving means more benefit for your beneficiaries.

Our compliance services include:

-Calculating your tax liability

-Advising you when various payments are due and how much to pay

-Advising on appropriate record retention

-Introducing you to any relevant tax saving ideas

-Representing you in the event of you being selected for investigation by the Inland Revenue

Our planning services can help you with:

-Tax efficient remuneration planning

-Efficient benefit planning such as company cars and accommodation

-Planning advice on disposal of chargeable assets to maximise Taper relief and utilisation of roll over and hold over reliefs

-Planning advice in respect of tax savings schemes, e.g. Enterprise Investment schemes etc

-Pension planning

-Inheritance tax advice

-Advising sole traders and partnerships on their business structures and planning incorporation if it is tax advantageous

Return to top

Corporation tax

 

We offer a range of services to help you minimise your corporation tax exposure and relieve you of the administrative burden of complying with tax legislation. This will help you to;

-Taking full advantage of tax opportunities and reliefs

-Achieving the optimum capital or revenue tax treatment

-Reducing tax on disposals and maximising relief on acquisitions

-Making the most of tax opportunities specific to your industry

We can conduct a full tax review of your business and determine the most efficient tax structure for you. Very often such reviews result in considerable tax savings, which show up as real improvements in your bottom line. As with any other area of taxation, it is essential to be proactive and plan ahead when dealing with corporation tax.

In addition to helping you with your corporation tax planning we can also represent you in any communication with the tax authorities.

Return to top

Business plans and raising finance

 

We have a comprehensive breadth of experience in preparing credible business plans for owner managed businesses and SMEs. Our effective business plan will provide you with a framework for cohesive decision making. We will help you to formulate and implement long-term strategic goals and set concrete operational objectives.

Along with a detailed business plan, adequate financing is essential for achieving your objectives. Indeed, one of the most common causes of business failure is badly structured or inadequate financing.

We can help you with:

-Conduct a feasibility study of your projects

-Decide on the most suitable sources of finance - personal capital, bank overdraft, commercial loans and mortgages

-Prepare the necessary business plan, forecasts and prospectuses

-Present your proposals to your chosen finance source

-Arrange a disposal, merger/acquisition or management buyout

Return to top

CIS

 

If you are a self employed tradesman, we do all your paperwork so you can get on with your own work. We file your tax returns and claim any overpaid tax on your behalf as part of the Construction Industry Scheme (CIS). We appeal against fines for late filing and determinations imposed by your tax office with a view to getting them overturned.

We trace CIS vouchers if you have some missing and we claim tax refunds going back 6 years. We also do PAYE tax refunds.

Return to top