The year end accounts provide invaluable information clients' business and are particularly useful if, for example, they wish to make a mortgage application or raise finance.
We can advise the clients on how to strengthen their record keeping procedures which in turn will help you run your business more effectively.
Your accounts will be prepared in accordance with accounting standards and we will check that you are claiming everything you are entitled to.
Whether you are a sole trader, partnership or limited company, letting us prepare your year end accounts will relieve you of what can be an extremely stressful and time-consuming exercise.
In addition, our experienced team can analyse your self assessment tax return to see if any tax savings can be made and we can also review the form to see if there are any anomalies that need to be addressed before the return is submitted. This process helps to minimise your risk of a HM Revenue & Customs enquiry into your tax affairs. If you are experiencing cashflow problems, our accountancy and tax consultancy outsource can explore the possibilities of deferring your tax payments or negotiating a payment plan with HM Revenue & Customs on your behalf.
By giving you a fixed, competitive price, our experienced team can take the worry away when it comes to self assessment tax returns; allowing you to concentrate on running your business.
We can also prepare regular management accounts to help you manage your finances, your customer account balances, your supplier account balances, stock levels and if you are trading as a company, they will allow you to plan your dividends. Management accounts can also identify slow-moving or unprofitable goods or services, bad debt and surpluses or deficiencies in resources, so they can be a powerful aid in decision making.
With our experience, we can easily take away the hassle of bookkeeping. We offer fixed competitive fees that are payable monthly so that you can spread the costs.
If you are just starting out, we can help you decide whether you need to be VAT registered from the outset or not. And we will continue to monitor your situation, so that should it become obligatory for you to register for VAT, we can deal with all of the paperwork for you. In contrast, we will also monitor your position for when we think you are able to and would benefit from de registering.
Whether a new or existing business, we will also look at the VAT schemes you are eligible for and establish whether you would be better off adopting one or a mixture of them. Some VAT schemes can lead to tax savings and a reduction in bookkeeping responsibilities.
There are various allowances and relieves available which can help minimise tax liabilities arising on earnings, profits of trade or gains when you sell chargeable assets, but understanding what they are and which ones you are entitled to can be a daunting.
Our experienced team offer all clients tax planning reviews and try to ensure that our clients only pay as much tax as they are legally obliged to and no more.
Offer a tax planning service for both UK and international clients to ensure you implement the most advantageous tax strategies when starting up new businesses, managing growing businesses, disposing of your business and when succession and estate planning issues need to be considered.
Every limited company that is based in the UK is subject to corporate tax on their profit. Limited companies that are non UK based that can still be expected to pay corporation tax if the central control and management of the company is carried out in.
Our accountants can assist with the preparation of company accounts, company tax returns and tax computations and will also be able to provide advice on any tax planning areas that may benefit you and your company.
We can help our clients with business planning, cashflow forecasts and starting their business.
MMK and Associates Ltd invests time in understanding your business in order to deliver practical and commercial advice.
Our outsource advisory work includes:
1. Preparation of business and financial plans, for example, when raising finance and making business applications to the Home Office.
2. Assessment of the financial performance of your business and developing strategies for improving business performance.
3. Review of your business and financial processes to help streamline operations and improve financial control.
4. Developing management reporting processes to help you better manage and control your business.
We can help our clients to recruit and manage their employees, whilst complying fully with their legal recruitment.
COMPANY FORMATION AND SECRETARIAL
For the Company formation, we do the following services:
1. Setting up and registering your new company. We will ensure your chosen name does not infringe with any legislation.
2. Handling share issues and registering these details at Companies House.
3. Registering and administering Directorships.
We will advise you as to whether your company should be registered for VAT. If registration is appropriate, we can complete and file the necessary forms on your behalf.
Opening Your Bank Account
We have close links with major High Street banks.
Our administration team can help you open your bank account as well as liaise with your Relationship Manager if you require this service.
Preparation and Filling of Statutory Returns
ABC Bookkeeping and Accountancy will prepare and submit all documentation and related Board and General Meeting minutes and resolutions.
We also provide a Registered Office service to our clients. As part of our Company Secretarial service, our experienced team can also prepare and submit your Annual Returns to Companies House.
We will be able to prepare the clients' capital gains tax computations, claim any relieves that they may be entitled to and calculate any liability that may be due.