Accounts preparation

Whether you run your business as a sole trader, partnership (including LLP) or limited company, we are able to prepare your annual accounts, tax computations and returns using industry leading computer software to maximise the quality and efficiency of our work and file the required returns online when possible. Filing online provides immediate confirmation of receipt and reduces errors and delays. Accounts for limited companies must comply with accounting standards and the Companies Act, which is difficult to achieve without appropriate software.

It is vital that you keep good, verifiable and up to date records to enable you to run your business most effectively, to satisfy the requirements of HMRC and to avoid incurring unnecessary accountancy charges.

We can advise you on the most appropriate form of records for your business, whether manual, computer or online (in the cloud), and discuss with you the level of our involvement in keeping your records. If you keep your records on a recognised accounting software program, we may be able to import your records directly into our accounts production software.

Our involvement can vary from preparing your annual accounts and tax returns from the records kept by you, to keeping your records and providing regular management accounts. The latter often proves to be exceptionally cost effective and allows you to concentrate on your core business (which presumably is not book-keeping, accountancy or tax related). Online (cloud) accounting systems such as Quickbooks Online allow excellent flexibility for clients to choose just how much record keeping is convenient for them to do, allowing their accountant to complete the rest.

If your business has employees, we can assist you in setting up and running the payroll yourself or we can run it for you using our in-house payroll bureau system. We also offer solutions to help you comply with the requirements of HMRC's construction industry scheme.

Whether we keep your records or just prepare annual accounts, we can provide the following essential management tools-

  • Monitoring the credit risk of business customers;
  • Analytical review, highlighting key performance indicators and cash flow issues;
  • Benchmarking analysis, comparing key performance indicators with those of others in your sector;
  • Business tax compliance and mitigation.

If you run your business through a limited company then additional records and compliance with company law are required. We can advise you on these issues or we can maintain your company’s statutory records on our software, filing required returns online to Companies House.

If you decide to sell or give away your business, we can advise you on the various Income and Capital Taxes consequences.

Require more information?

If you would like more information or would like to ask us a question then call us in Burnley on 01282 421951.

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