FINANCIAL ACCOUNTANTS & MANAGEMENT CONSULTANTS

BOOKKEEPING / ACCOUNTS

Every business must keep accurate records of their financial transactions. When you are starting out, and even as your business grows, staying on top of your bookkeeping and day-to-day accounts is an important part of staying in control and making good decisions based on fact rather than guesswork. However, it does require discipline and a certain amount of time and effort on your part, all of which may be better spent on running the business and doing whatever it was you set out to achieve.

Our bookkeeping team provide an efficient, cost-effective solution that allows you to do just that, with the reassurance of knowing that your bookkeeping and accounts affairs are in the hands of our experienced team. We will process your paperwork in a way that suits you, to provide an accurate, up-to-date record of your business finances and performance, in keeping with HMRC’s record keeping requirements and submission deadlines.

So if you’re still struggling with your own books (or not quite managing to get around to it) why not take a load off your mind and let us do it for you.

VAT

We can

•Submit the VAT registration

•Provide advice on the most appropriate scheme (there is a choice of methods of accounting for VAT)

•Create and submit the VAT returns

•Assist with setting up VAT processes for clients that maintain their own books and carefully process and

claim back all the VAT you’re entitled to.

PAYROLL PROCESSING

Most businesses that employ staff will need to operate a payroll to process wages and salaries. Recent changes make a proper payroll system essential. Notably, the introduction of RTI (Real Time Information) reporting to HMRC and pension auto enrolment have greatly increased complexity.

We provide a full payroll service:

•Calculate PAYE Tax, National Insurance and Student Loan deductions

•Provide pay statements

•Submit monthly and annual returns to HMRC

•Handle pension auto enrolment

•Submit P11d returns; these are often overlooked by small businesses but are mandatary

COMPANY FORMATIONS

We provide a company formation service. This can take as little as 24 hours, after which the company can commence trading immediately.

TAX MANAGEMENT

We can assess a taxpayer’s overall position covering both their company’s and personal income to identify a legitimate approach to tax management. For example, an owner director can take money out of the company by a salary or as dividends; the right balance between the two can give savings of thousands of pounds.

COMPANY ACCOUNTS AND CORPORATION TAX RETURNS

A company is required to prepare and submit accounts and a corporation tax return each year. The normal deadlines for a small company are:

•File accounts at Companies House and pay corporation tax – 9 months after year end

•File accounts and corporation tax return at HMRC – 12 months after year end

Although there are different deadlines, companies usually file with Companies House and HMRC at the same time. There is no benefit in waiting until the deadline. It is better to start the process within a couple of months of the year-end. This avoids the risk of mislaying records and ending up with a last minute rush.

The accounts submitted to Companies House are freely available for inspection by members of the public but can show much less detail than the full set required by HMRC.

We also advise on the most appropriate format for your company to ensure they meet requirements.

CONFIRMATION STATEMENT (Annual Returns)

Companies must submit confirmation statement, to Companies House just after the anniversary of formation. This is not an accounting document but many companies ask us to do this for them.

INDIVIDUALS / SELF-EMPLOYED / TAX RETURNS

Whether it’s completing a tax return, finding a way to make the most of what you have or looking after your finances can be a daunting, stressful and time-consuming business, which requires a great deal of knowledge and experience to get just right. You may need to submit a personal tax return even if you have a salary and have paid tax thorough PAYE. For examples, HMRC will normally require a return if:

•You were self-employed at any time during the tax year, even if only part time

•You have untaxed income such as rent from property or capital gains from the sale of assets

•You had income from savings or investments of more than £10,000

•You were a company director (there are some exceptions)

•Your income was greater than £100,000 or, if you claimed child benefit, £50,000

•You are a high rate tax payer with income taxed at source at the base rate such as interest or dividends

If HMRC have notified you that they require a return, you must submit one, even if you have no further tax to pay.

HMRC apply penalties for late submissions. These start at £100 for a return one-day late and can rise to well over £1,000. The penalties apply even if there is no tax to pay. Late payment of tax attracts additional penalties.

The normal deadline for submitting personal tax returns is 31 October if filed by paper or 31 January if filed on line. In other words, the return for the year to 5 April 17 needs to be filed by 31 October 17 (paper) or 31 January 2018 (online).

We offer a wide range of services, all geared towards the particular needs of owner-managers as their businesses develop, so as well as compliance work we can help with tax efficient structuring, tax planning, raising finance, payroll, software support and more.

Whether it is saving you money on your tax bill, improving profitability, guiding you through an acquisition or simply providing a sounding board for your ideas or concerns, we have all the expertise and insight you need to help your business thrive and turn your dreams into reality.

NURSES DOCTORS & MEDICAL PRACTICES

The world of medical finances, employment in the NHS and private healthcare sector is an increasingly complex one and more and more doctors, nurses and practices are realising that they need specialist advice to stay on top of all the changes and maximise their income, performance and profitability.

At Hayble & Co, we have a substantial list of clients who are Doctors and Nurses. General accounting and business advice is simply not enough to successfully navigate the constantly shifting minefield of contemporary primary care and the implications for employment, income and tax.

Here are just a few of the benefits of choosing Hayble & Co Accountants:

•Service you can trust from one of the UKs leading specialist medical accountants with over twenty years’ experience.

•Proactive specialist advice proven to increase income, practice profitability and reduced tax bills.

•A fully trained adviser on hand when you need them.

•Surprisingly easy-to-swallow fees, fixed in advance so no nasty surprises

PROFESSIONAL PRACTICES

The world of professional practice finances has become increasingly complex in recent years. Changes to industry regulation and best practice, intensifying competition, an increasing number of mergers and a focus on limiting your liability, call for specialist advice, beyond the traditional accounting remit, as practices seek to respond to the changes.

Our specialist team has many years’ experience working with a varied portfolio of professional practice clients, including Solicitors, Engineers, Quantity surveyors, Architects and Estate agents.

We offer a bespoke service, with a wide range of expertise all under one roof and fully attuned to the particular financial and commercial challenges you face.

Some of the ways we can help boost your practice finances include advice and assistance on:

•The implications of Limited Liability Partnerships (LLPs) and incorporations

•Compliance with Solicitors’ Accounting Rules and Law Society’s Accounting Regulations

•Costs and fee structuring

•Partnership and company accounts and tax returns

•Partner and employee remuneration planning