Our Accounting Services
Our Accounting Services
Accounting and Company Secretarial Services
We prepare accounts for all types of business, from sole traders to partnerships and limited companies. Many of the services we provide are underpinned by the knowledge gained of your business by preparing your year end financial accounts.
Our services will help to reduce the administrative burden, allowing you to concentrate on running your business, while giving you peace of mind that your accounts and returns are in order. In fact, the service we are most frequently asked to provide is the preparation of annual accounts.
We have a wealth of knowledge and experience in the preparation and submission of statutory accounts so we make the whole process as straight forward as possible.
We understand that it’s not just about having numbers, it’s about having someone there to interpret them in plain English. We sit down with our clients so they know what they are approving to be filed at Companies House and HMRC.
Due to our knowledge of a range of accountancy software packages, particularly Sage, Clear Books and Xero, we can provide a great deal of support to clients. Some of our small clients do not use accounting software, and we are happy to work with them on paper based systems.
Company Secretarial Services
Our company secretarial services include preparation and filing of statutory returns, preparation of minutes and resolutions, company formation, company searches and share restructuring.
Bookkeeping can be a time-consuming task for business owners. We can help by completing your books at your office or ours. For clients who prefer not to outsource their entire bookkeeping function, we can offer assistance on specific matters.
Our team of experienced accountants and support staff can also provide help in setting up your own bookkeeping systems and train your staff to maintain proper books and records.
Our competitive and convenient bookkeeping services include:
- Collecting all necessary documentation, including receipts, bank statements and other papers
- Keeping your records fully up-to-date
- Preparation of Management Accounts; VAT Returns; Key Performance Indicators(KPIs); End of Year Accounts; and Estimated Tax Liabilities as you go along, so there’s no surprises at the end of the year
- You pick up the records (neatly filed and organised) and all the information we’ve agreed to provide you with
It also makes it easy for us to handle any VAT inspections.
We are here to answer questions, provide insights and offer friendly advice whenever you need it.
Value Added Tax (VAT) is one of the most complex and onerous tax regimes imposed on businesses – so complex that many businesses inadvertently overpay or underpay VAT. This is complicated further by different VAT rates, potential partial exemption and the administration for companies that wish to trade overseas both within and outside the EU. This complexity means that valuable in-house resources could be deployed elsewhere in the business.
The ever widening scope of VAT, the constant stream of detailed changes to the regulations, and the ever growing demands of HMRC call for a trained professional eye to ensure that you do not fall foul of the regulations and do not pay more VAT than you need to. We can provide you with a cost-effective VAT service, which includes:
- Assistance with VAT registration
- Advice on VAT planning and administration
- Use of the most appropriate scheme
- VAT control and reconciliation
- Help with completing VAT returns
- Planning to minimise future problems with HMRC
- Negotiating with HMRC
Regular management information is vital to the continued success of any business. We work alongside you as your business partners, offering timely and strategic advice to help ensure that your business finances remain on track and your goals are achieved. We can prepare your monthly or quarterly management accounts, attend board meetings and offer strategic business planning advice.
Business Advice and Support Services
We provide proactive business advice for our clients in a format that is easy to understand to help their business achieve better results. Business owners often find it difficult to make enough time for business analysis and forward planning for future improvements to the business. Our support services include:
- Financial forecasts
- Cashflow forecasts
- Cash extraction
- Business valuation
- Raising finance
- Liaising with banks and institutions
Payroll is a complex area that can be outsourced cost effectively so that you can concentrate on other important areas of your business. Our comprehensive payroll service includes:
- Customised payslips
- Administration of PAYE, National Insurance, Statutory Sick Pay, Statutory Maternity Pay, and so on
- Completion of weekly/monthly statutory forms to submit to HMRC under the new Real Time Information (RTI) regime
- Construction Industry Scheme (CIS) returns
- Summaries and analysis of staff costs
- Administration of incentive schemes, bonuses, and ex-gratia and termination payments
- Administration of pension schemes and pensions auto-enrolment
Construction Industry Contractors (CIS)
The Construction Industry Scheme (CIS) sets out the special tax rules for subcontractors who work in the construction industry and how payments must be handled by contractors. Our services include:
- Registering you with HMRC as a contractor
- Verifying your subcontractors with HMRC
- Ensuring you pay your subcontractors correctly within the scheme
- Supplying deduction statements to the subcontractors
- Keeping your records in good order and supplying HMRC with monthly returns
Auto-enrolment is the term for the automatic enrolment of employees into workplace pension schemes. By 2018 all businesses must operate a pension scheme for qualifying employees, with employee and employer contributions.
We can assist with the auto-enrolment process, including advice on:
- Assessing financial impact of auto-enrolment on your profit and cash flow.
- Assessing staff eligibility and dealing with opt-outs
- Calculating and deducting employee contributions
- Dealing with compliance and record-keeping requirements
- Submitting timely reports to your pension scheme(s)
Investments and Pensions
In today’s complicated and strictly regulated financial services market, providing independent financial advice requires specialist knowledge. We work closely with independent advisers who will provide you with impartial advice in areas such as:
- Pension schemes
- Life assurance
- Critical illness cover
- Private medical insurance and care plans
- Individual savings accounts
Our advisors are happy to meet with you to discuss your future plans and requirements without any obligation to sign up to our services.
Feel free to get in touch
Phone: +44 (0)75 2583 1590
Address: Xitax Accounting Solutions, Pera Business Park, Nottingham Road, Melton Mowbray, Leicestershire LE13 0PB