Accounting and tax services from Stephenson Tilley Accountants in Basingstoke

Annual Accounting

Annual Accounting is the process of compiling all your records to produce an overview of your business. It is split into two parts (a) the annual Profit & Loss statement and (b) the Balance Sheet – a statement of assets & liabilities, cash and cumulative profits at year end. The annual profit or loss figure feeds into your annual tax bill.

We compile a set of annual accounts to give you an overview of your business.

Limited company accounts are compiled to meet statutory requirements.

At year end (or more frequently if required) we meet to go through your accounts in a language that is understandable to you.

Bookkeeping

Whether you have a bag of receipts, an excel spreadsheet or use a computerised system we can handle all your bookkeeping needs.

We can advise you on what expenses are allowable and what are not. We always feed back to you to let you know what you need to keep, how to make the record keeping easier and more efficient.

Payroll

We can set up and run payrolls based on your requirements.

We provide payslips, monthly payment schedule and comply with all your year end requirements giving you peace of mind that all your payroll needs are being met.

Construction Industry Sub - Contractor

If you are working in the Construction Industry we can take you through the rules and ensure that you are deducting or have been deducted the correct amounts.

Contractors Working Through a Limited Company & IR35

Are you contracts based? - we can take you through the latest questionnaires so that, together, we make the right decisions regarding IR35.

Management Accounting

Statutory Annual Accounts are compiled by looking at your past transactions. This is normally to (a) formally calculate the Profit & Loss Statement and the Balance Sheet.  (b) calculate any tax due.

Management Accounts are compiled to help management/owners make future business decisions. We can help with budgets, forecasts, margin analysis and help show you what direction your business needs to go in to become the most profitable.

Personal Tax

Have you had some money from a work share scheme, received some inheritance, dividends or monies from stocks and shares, we will complete your Self-Assessment tax return for you.

After years of just paying PAYE at work, many people are faced with an additional revenue stream which means a Self-Assessment tax return must be made...often for the first time. All business owners and self- employed must also complete a Self-Assessment Tax Return

VAT

We can help you decide whether you should be VAT registered, which scheme is best for your business and complete quarterly VAT returns for you. The Flat Rate Scheme (FRS) can mean that the government pays you. We can discuss all your options and then set up the scheme for you.

Corporation Tax

We will compute your Corporation Tax liability based on what is allowable or not allowable and submit the Corporation Tax return to HMRC.

We will automatically calculate your Corporation Tax when we either write up your books or produce your annual accounts. We can also advise on dividend/salary strategy - something which is changing in April 2016.

Buy to Let Properties

Both partners have their own BLT businesses and between them have > 20 years practical experience in managing and growing BLT businesses. We can advise on the quickest, most efficient way of keeping records and if you are new to BLT then we can also provide a session on “how to set up and manage a BLT business” with all the latest tips & must do's.

Business Start Ups & Incorporations

Most new business managers understand some of the differences between sole traders, partnerships and limited companies but don’t understand the differences at a detailed level. We can take you through the keys aspects

• Risk - limited liability - how important is this in your business. Different insurance requirements.
• Legal - Limited Companies need more formal paperwork both at year end but also board meetings, etc
• Tax - the ever changing tax regimes and what it means to you (for example the changes to tax treatment on dividends received)

Each business and owner combination will require a unique solution.  We can talk you through the options and help you decide the way forward.

Whatever business structure you choose we can set up the business, register it with HMRC and complete all the necessary paperwork.

There are a range of other business services that we can provide:

Cloud Accounting – Set Up & Support

Several of our clients have grown very quickly and wanted a simple way of recording all their sales & costs as they occurred, with as much automation as possible. We sat down with them and worked out their detailed requirements, and produced a short list of cloud based accounting systems which were suitable, and together we selected & implemented the software.

Bookkeeping Training & Advice

One of our clients wanted us to spend more time with them at the start of their

business and to train them in the back office processes so that they could do it themselves in the future.

Virtual Finance Officer

One client started off handing us folders of receipts and an excel spreadsheets at year end but it soon became apparent that they needed more day to day support but could not afford a part time accountant of their own. We provide a VFO service for several of our clients where they pay a monthly rate where we do all the back office from bookkeeping, chasing the debts,  through to taxation, payroll & pensions.

Temporary Accounting Cover

We provide temporary accounting cover for illness, holidays, etc.