Small businesses in the UK account for 99% of all businesses. According to the Companies House website 426,500 companies were formed during 2011-12 and some 267200 companies dissolved during the same period. There were just over 3 million companies registered in the UK as of Jan 2013. Over 75% of these are micro businesses with a turnover of less than £ 1 million. Because these businesses do not need to have their accounts audited anyone, literally anyone, can be their accountant. This has opened the floodgates for anyone to practise as accountants as the term ‘accountant’ is not protected in the UK. However, it pays to work with qualified accountants with qualifications such as ACCA, ACA or ACMA to ensure a certain level of quality and standard.
We are qualified accountants and have been dealing with smaller businesses for years. We are able to advise and help small businesses almost on all areas related to tax, accounting and compliance from the start up stage righ up to dissolution.
Incorporation:
- Advice on business structures like LLPs, sole traders or a limited companies and same day incorporation
- Advice on the constitution (i.e. Articles of Association) of the company
- Prepare shareholders agreement for small companies
- Partnership agreement for LLPs
- Tax advice on resident and non-resident directors
Accounting
- Prepare accounts in accordance with the accounting standards and the company laws
- Prepare management accounts and reports to suit specific business requirements
- Help with bookkeeping, advise on an accounting system and cloud accounting
Company laws
- Advise on inducting and removing directors
- Advice on changing the capital structure, preparing company secretarial records and filing forms with the companies’ house
- Be a nominee company secretary
- Advice and help with buy back of shares and capital reduction
- Advice and help with further issue of shares, transfers and issues of bonds/debentures
- Advice on creating or removing charges
- Advice on strike off and dissoultion
Buying and selling businesses
- Advice on asset sale v sale of the company
- Valuation of businesses
- Tax advice for the buyer or seller and the company
- Company law advice on buying or selling the business
- Drafting sale deeds
VAT (Value Added Tax)
- Help with VAT registration and de-registration, for UK established businesses and Non-Established Taxable Persons (NETPs)
- Advice on concepts like distance sales, acquisitions, exports, place of supply for services
- Advice on VAT treatment of specific transactions
- Prepare VAT computations and file VAT returns
- Advice on Vat implications for cross-border transactions
- VAT advice on imports and exports
- Advice on artificial separation of businesses
- Advice on reverse charge mechanism
Corporation tax
Advice on a variety of corporation tax issues like:
- Holding company structures
- Dividend v salary for directors and advice on optimizing extraction
- Share for share exchange
- Directors’ loans and inter-company transactions
- Associate companies and connected companies
- CFC rules, transfer pricing and thin capitalisation
Corporation tax computation, advice and tax returns
HMRC
Deal with HMRC on your behalf as your tax advisor whether you’re a company or an individual or any other form of business.
