Why you need to hire an Accountant
What are accountants actually there to do?
That can be best summed up in two sentences:
They are there to make sure that you provide the correct figures to HMRC and Companies House on time,
and They know the ins and outs of the 17,000 pages of UK tax law and what they do is go through your expenses with a forensic eye identifying every area where you can save money.
They make sure you pay no more tax than you need to by making sure that you take advantage of every allowance and every exemption possible.
For example, did you know that, if you’re a company director, you are allowed to treat yourself with non-monetary gifts of up to £50 as many times as you like as long as the amount of money you spend on yourself doesn’t exceed £300? Not many people do. Your accountant does and that does two things. He or she can add those £300 of gifts to your company’s expenses column meaning your profits go down £300, saving you 19% in corporation tax (£57). If you’re a higher rate tax payer, it also means you haven’t paid yourself that £300, meaning you won’t have to pay 40% of it in tax (£120). By doing that one thing, your accountant has saved you and your company £177 in tax.
And that’s just the beginning. VAT is one of those taxes that most businesses overpay because it’s so complicated. When companies move away from doing their own books and give it to an accountant, sometimes the savings can run into thousands of pounds a year. With a good accountant who understand you and your business, you can’t go wrong.
Why Choose TR & Accountancy Limited
The TR & Accountancy understand that every individual and every business faces a unique challenge when it comes to accounting. And also have a satellite office in London, offering a rare out-of-London level of service in a North Finchely location. You’re never just a number on a spreadsheet to TR & Accountancy . The TR & Accountancy is innovative, pro-digital and continually pushing forward to provide a better service to the clients. TR & Accountancy understand that businesses, as well as individuals, need a helping hand, and trying to do the best for clients.
We guarantee fast and discrete handling of all your business tasks.
Professionals at work
TR & Accountancy Limited understand that the business landscape in the UK can be exciting, but also daunting for those looking to live the dream and start their own business.
The business financial landscape is always in flux, so much so that many new or smaller businesses struggle to keep up.
These factors can often seem overwhelming to an entrepreneur and this is where we can help, by evaluating your ideas in a constructive manner, helping you to develop them into a feasible business, and supporting your ongoing business development.
We can also help you:
* Decide on the most suitable structure for your business – sole trader, partnership, limited liability partnership or limited company.
* Prepare a business plan, cashflow projections, budgets, and trading forecasts to prove the financial viability of your business and demonstrate this to potential investors / bank. Assess your finance requirements and advise on the best sources of finance.
* Help you establish relationships with banks, solicitors etc via our well established network of contacts.
* Complete any registration procedures with Companies House and HM Revenue and Customs. Deal with company secretarial issues.
* Set up an internal accounting system for complying with statutory requirements.
Whether your business is already up and running or you’re just starting out, you need a partner who understands small business accounting. Our experienced accountants can not only handle your tax, financials and VAT, but can also advise on many aspects of business accounting.
We guarantee fast and discrete handling of all your business tasks.
Business Accountancy Services
Accounts & Tax Services
If you are a sole trader, partnership or a company TR & Accountancy can help you produce your year end accounts. Your accounting information requirements will vary depending on the size and needs of your business, but all businesses need accurate, timely and reliable financial information so you can make any decisions needed. Besides helping you meet the statutory requirements, and also take the opportunity to conduct a review of your financial and management systems. This can often result in our identifying potential problem areas and recommending opportunities to improve your business performance. TR & Accountancy discuss the problems and opportunities with you and help you implement any agreed solutions.
Corporate Tax Planning Services
Corporate tax planning is a critical area of your business, so it should be overseen by someone who has their finger on the pulse of Corporation Tax. The objective of corporate tax planning is to implement strategies that could potentially, and legally, reduce your tax liability and in turn improve your profitability. TR & Accountancy corporate tax planning services include: Deciding the most tax-effective structure for your business Checking you are making use of tax opportunities or tax reliefs Tax-efficient extraction of profits Maximising any claims to Capital Allowances Looking to minimising exposure to Capital Gains Planning for the optimum utilisation of losses Advice on the effect of legislative changes.
Bookkeeping Services
TR & Accountancy accustomed to managing bookkeeping for a variety of businesses, and are familiar with various cloud and desktop accounting software packages. That’s why it’s a great idea to save your valuable time for what you and your co-workers do best, and outsource your bookkeeping to a team of professionals who can complete your records quickly, efficiently and accurately. The TR & Accountancy bookkeeping support is very flexible, and by using cloud-based technology and can help as much or as little you need. It might be that you want to outsource your entire bookkeeping to us, or just need bookkeeping advice or support. Whatever your need, can also provide you with regular management accounts to keep you informed on essential areas such as: Payroll, administration, VAT returns, Bank reconciliations, Annual Records Plus, find out about our online bookkeeping options.
Payroll & Auto Enrolment Services
Outsourcing your payroll and auto enrolment requirements can streamline your business’ processes by removing the complex task of keeping on top of taxation and employment legislative changes as well as the actual administrative task of paying your employees. In addition, protecting your business from possible penalties for non-compliance makes sound business sense, so why not outsource this important requirement to a team of professionals? TR & Accountancy's payroll services cover businesses ranging from one employee up to large work forces, so whether you’re looking for contractor payroll advice or small business payroll services, and help you. The TR & Accountancy is ready to help your business by taking on the time consuming task of handling company payroll activities. And can handle all aspects of payroll for you, including sending out secure, personalised payslips, handling payroll changes such as bonuses and statutory sick pay, and navigating the legal and regulatory aspects of payroll. TR & Accountancy can keep you abreast of changes and ensure you are fully compliant and offering your employees the best service. Payroll Services Payslips PAYE, National Insurance, statutory payments Incentive schemes, termination and bonus payments Completion of end of year returns for employees and Inland Revenue Staff cost reporting and advice Auto Enrolment Services Recommending appropriate, compliant pension schemes to suit all business types Assisting you in your communications to employees regarding auto enrolment Ensuring your ongoing compliance Looking after the processing of auto enrolment payments.
