How can we help you?

Even if you are not quite sure what you need please do get in contact and one of the team will be happy to advise. Alternatively if you know exactly what you are needing we can put together a fix cost quote.

Business Accounts & Tax

Whether you are a sole trader, a partnership or a limited company we have the team to meet your business' needs.

We would always recommend your accounts are prepared as soon as possible after the business’ year end. This ensures the business has advanced warning of any tax and national insurance liabilities and avoids potential fines for late filling or payment. This also provides you with an up to date assessment on how your business has performed which can be used as a management tool to focus on specific areas of the business for improvement and growth.

We aim to turnaround your accounts within six weeks of receiving all the required information. We will also clearly explain your accounts to you without using jargon and we will continually look at ways to minimise your tax liabilities.

Sole trader Income and Expenditure Accounts

This service generally includes the following:-

Analysis of trading income and expenditure from Cash Books, CIS Statements, invoices, bank statements, cheque books and receipts;
Complete single sheet income and expenditure account showing profit / loss for the year with previous years comparatives;
Tax Computation were applicable to adjust from income & expenditure trading profit / loss to tax adjusted trading profit/loss;
Entering information on to personal tax return along with details of any other income received for the year and submitting to HM Revenue & Customs after approval.

Sole Trader Complete Accounts

This service generally includes the following:

Analysis of trading income and expenditure from Cash Books, CIS Statements, invoices, bank statements, cheque books and receipts alongside any accounts packages used;
Complete profit & loss account showing profit / loss for the year with previous years comparatives;
Balance sheet and notes;
Tax Computation were applicable to adjust from income & expenditure trading profit / loss to tax adjusted trading profit/loss;
Entering information on to personal tax return along with details of any other income received for the year and submitting to HM Revenue & Customs after approval.

Limited Company Annual Accounts

This service generally includes the following:

Analysis of operating income and expenses from sales invoices, cash books, bank statements, cheque books, paying in books and purchase invoices/receipts alongside your accounting package if used;
Completion of full limited accounts as required by Companies House and HM Revenue & Customs (HMRC);
Liasing with client to ensure Accounts are correct, complete and understood;
Filing of accounts with Companies House and HM Revenue & Customs (HMRC) after client approval;
Completion of directors personal tax return with remuneration and dividends received from company;*
Filing personal tax return with HMRC after approval;
Issuing dividends certificates.

*Additional charge for Tax Return completion if individual has a lot of other income to include on the return, i.e. rental or sole trader income requiring further analysis.

VAT Returns

We will work with you and help you decide whether you need to be VAT registered straight away or not. As your business grows we will continue to monitor and should it become necessary for you to register for VAT, we can deal with all of the paperwork for you.

Sometimes changes in the business can also mean that you no-longer need to be VAT registered and we can fully support you with deregistering.

Whether a new or existing business, we will also look at the VAT schemes you are eligible for and establish which would best suit your business. Some VAT schemes can lead to tax savings and a reduction in bookkeeping responsibilities.

M. A. Walker & Associates can prepare your VAT return from your own bookkeeping records or we can take care of your record keeping and the VAT return.

As with other areas of tax, we can act as your Agent for VAT purposes and therefore correspond with HM Revenue & Customs (HMRC) on your behalf.

Needless to say, late VAT registration, errors, late VAT returns and late VAT payments can all lead to penalties and possibly interest being charged. So allowing M. A. Walker & Associates to take care of your VAT affairs, not only gives you peace of mind, but it should also avoid you wasting your hard-earned cash on penalties and interest.

Typically our VAT Returns services would include:

Calculation of all input and output Tax for the quarter for standard rate VAT Scheme;
Calculation of % VAT due on Gross sales for the quarter on flat rate scheme;
Informing client of the amount to be paid for each quarter;
Filing of the VAT Return with HM Revenue and Customs (HMRC);
Correspondence with HM Revenue and customs (HMRC) on your behalf

No matter what support you require with your VAT returns M. A. Walker and Associates are here to help. If you would like to receive a fixed cost quote for all your VAT return services please get in contact.