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HMRC requires all businesses to keep accurate records for VAT and year-end tax purposes. However, bookkeeping is time consuming and parts of it can be technically difficult on some computerised systems. Failing to keep a right records may delay in tax return and penalty charge, but what worse is that you may not be able to know the real situation of your business.
We understand each business is unique. That is why At KeepRight Accounting we provide accurate and computerised bookkeeping services tailored to suit your business needs. We are specialised in small business bookkeeping. Our bookkeeping services typically including:
We understand many business owners still want to keep their own books by themselves. In fact we encourage them to do that! This is because as a business owner, you know your business better than anyone else. That is why we have designed tailored bookkeeping templates to help small business owners to keep their own records. All our templates were professionally designed to minimise the common errors and maximum your control. They will save your bookkeeping bill, too.
By choosing us to look after your bookkeeping needs, you can enjoy the peace of mind that comes with knowing the bookkeeping aspects of your business are in safe hands. We will also save your time and money so you can focus on building your business.
One of the main advantages of having KeepRight provide your company’s bookkeeping services is that we can then seamlessly prepare them for the necessary year end submissions.
We offer year end account preparation services to sole traders, partnerships, and small limited companies. We also produce statutory and abbreviated financial accounts and submit to company house on your behalf.
Please remember late submissions or errors in your accounting can have the authorities applying sanctions – so much better to KeepRight.
Tax Return & Self Assessment
You may need to complete a tax return if you are in certain circumstances. A full list can be found at HMRC website. But typically if you are:
a company director
receiving foreign income
It is important to pay (or to reclaim) the right amount of tax and you should keep all your records and documents properly. You may have to pay a penalty charge if you don't keep records or if you don't keep your records for a certain length of period.
At KeepRight Accounting we have the expertise and facility to ensure your tax assessment submitted at the right time with accurate records, whatever you are a sole trader, in a partnership, or a company director.
VAT & Corporation Tax
If your business is VAT registered you will have to file a VAT return at a regular basis - usually every three months. It is your responsibility to know when you must register for VAT and how much to pay (or reclaim). You may have to pay variable penalty charges for mistakes and delays with your VAT.
VAT return can be a frustrating task to complete and can be very time consuming. We recommend you talk to a qualified accountant before running VAT return to minimise potential risks. At KeepRight Accounting we can help you with:
choosing the most suitable VAT scheme for your business
assisting with VAT registration
VAT control and reconciliation
helping with VAT preparation and completion
Corporation tax and year-end tax return
Tax legislation is changing all the time so it is important to be up to date and know your rights and responsibilities. All UK based limited companies are subject to corporation tax deadlines and requirements. You will have to file a corporation tax return for your company at the end of each accounting period - even you have made a loss.
We understand the current tax legislation and we are here to work closely with you to pay the minimum tax required by law. Keep Right Accounting offers professional services that can help you with:
From 6 April 2013 employers are required to report Pay As You Earn (PAYE) information to HMRC in real time (RTI). This means that employers (or their accountant, bookkeeper or payroll bureau) have to submit details about employees' pay and deduction to HMRC using payroll software every time they pay an employee, in real time.
We currently offer payroll services for our clients at a small cost. We only use HMRC recognised payroll software and submit your and your employees' payment details to HMRC online, at the time you pay them. We can also submit year-end PAYE for you at no extra cost.
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