Accountancy & Tax Services, Northampton
We have helped a variety of businesses in and around Northampton with their day to day dealings with HMRC and Companies house by providing various levels of support depending on their needs. Our services include:
Many business owners out there might ask why a set of accounts are needed, after all if you are a sole trader then you aren’t legally required to submit them with your tax return.
This really comes down to the responsibilities of a good accountant. Aside from helping you to understand how you made and spent your money it is important to insure that your figures look normal and to investigate and explain any abnormalities which could trigger a tax enquiry.
A good set of accounts will break your income and expenses down into enough detail so that every area of expenditure in your business can be seen and they will also compare the figures to prior years to help understand any key differences.
As accountants we work closely with our clients in and around Northampton to make sure the figures they submit to HMRC make sense and to highlight to them anything that looks abnormal. Contact us if you would like to learn more about how we go that extra mile to give our clients peace of mind.
Most businesses and some individuals will need these to tell HMRC how much money they have earned over the year and work out any taxes due.
Although tax returns have a standard form layout they also give you the opportunity to attach evidence and notes to explain your accounts. Where an abnormality has been identified or estimates have been made for certain numbers then it is important to use that opportunity to explain why and potentially avoid a tax investigation.
Tax returns have various submission deadlines depending on the type of business you have and are mainly done online these days for rapid results and confidence that they have reached HMRC in time.
An accountant’s role in this process is to make sure that the return is correct and filed on time provided that they have been supplied with the relevant information in time by the client. If you are a business based in or near to Northampton and would like a no hassle and easy way to deal with your tax returns then please get in touch to arrange a free initial consultation.
Tax Advice & Planning
Although this isn’t a service accountants generally bill clients for it is probably the most important part of why it makes sense to hire an accountant rather than try and do it yourself.
A good accountant will help you reduce your tax bill by claiming expenses that you are legally entitled to and will help you avoid getting into trouble with HMRC by ensuring that your accounts make sense.
At Northants Accounting we take the time to understand what our clients want from their businesses and even their family situation so that we can take tax planning to another level by thinking about the future and the best way to extract their earnings from their businesses.
If you are based in or around Northampton and think that your tax bill is higher than it needs to be or if you want to find out how we could help you reduce it further then please get in touch for a free initial consultation.
VAT can be a key area impacting the earnings of a business and a nightmare if it goes wrong so it is absolutely vital to work with an accountant who can look beyond what your business is doing today and talk to you about your future plans.
One of the main reasons people go wrong with VAT is that they aren’t aware of the point where their turnover has gone beyond the registration threshold and they need to register, if not dealt with straight away than this can lead to a nasty surprise when HMRC demand the VAT that should have been paid.
We work closely with our clients based in and around Northampton to talk about their business growth and future plans so that they can be registered at the right time and de-register if it suits their business. We also advise them on the VAT rates and schemes that apply to the type of business they are involved in, this often leads to great tax saving opportunities.
We offer VAT returns as part of our services where we will take care of filing the returns on time, this can really help our clients as its one less deadline they need to worry about. If you would like to work with an accountant who will make sure you are always ahead of the game when it comes to VAT then please contact us to arrange a free initial meeting.
Payroll & CIS
This is a key area that effects small businesses employing staff or subcontractors in the construction industry, as with many taxes there is more to it than meets the eye so a good accountant can really help to make sure you meet your responsibilities.
Small business owners can find it difficult to set up the correct software as there are so many settings and options and also various types of return to file at different deadlines, there is also the issue of whether you need to or don’t need to enrol for PAYE in the first place.
We offer our clients in Northampton and the surrounding areas a full level of support when it comes to registering for Payroll or the Construction Industry Scheme. This could be reviewing their business activities to see whether they are required to enrol all the way through to registering them and filing their monthly returns.
If you want to work with an accountant who will talk to you about your future plans and take a proactive approach to ensuring your business is as financially healthy as possible then please get in touch for a free initial consultation.
Limited companies can be complicated to run and administer if you try and do it yourself, unlike being a sole-trader dealing with HMRC you will also have the issue of filing documents at Companies House and working out the best way to extract money from your business.
Northants Accounting is set up to help our clients in and around Northampton run their limited companies, we can do it efficiently with minimum input from yourselves so that you can get on with what you do best and grow your business.
If you need an accountant who can make being a company director as easy for you as being a sole-trader then contact us and arrange a free initial consultation to find out more about how well we could work together.
Although bookkeeping can be outsourced it is often something many small business owners take care of themselves to keep the costs down. This is an area that has to be done correctly and in a way they offers protection in the event of an HMRC enquiry or investigation.
We provide Bookkeeping services if required or we can support clients in setting up a system that’s suitable for them based on how they want to work. We help clients to work in the most efficient way based on their business objectives and growth plans, this can sometimes involve simplifying their systems where a reduced level of detail is needed as well as upgrading them to something more automated.
We have helped many of our clients based in and around Northampton to identify the best bookkeeping system for their business and could help you do the same, contact us to arrange a free initial consultation.