I can save you a lot of time by invoicing your customers for you, setting invoices out in the correct format with your required credit terms and accounting for VAT. If required, I can also chase any unpaid bills for you.
One of the easiest ways a business can save on tax is to ensure that no expense items are missing from their accounts- several years of omitting even a small item can soon become a significant value. I can help you recognise the specific expenses you can claim and monitor these for tax and accounting purposes.
Production of monthly and Year End Reports
I will be able to produce reports to show you how well your business is performing. These reports will show you how much money you have made over a monthly, quarterly or yearly period as required. This will, in turn, show you how you can improve the management of your business.
Such reports are also sometimes required by Bank Managers or prospective new Partners to your business.
By producing a bank reconciliation, I will be able to highlight any discrepancies which might lead to cash shortages. Helping to manage your cash flow will mean you can plan your business more efficiently and, of course, help avoid unnecessary bank charges (overdraft fees etc).
Self Assessment of Tax
There is a legal requirement for sole traders to complete and submit a Tax Return to HMRC . This can be very daunting and time consuming for someone not used to Tax. By using my services, you can be confident that your return will be completed accurately, professionally and on time.
Knowing how much tax you owe (or are due to be refunded) and by when will help you manage your cash flow – payments for Tax Returns submitted early will not be due until the deadline of the 31st January following the Tax Year.
If you are a new business, I can register you with HMRC and deal with any initial set up queries you may have. I will be able to work out how much tax you will owe (or due to be refunded) and by when.
Please contact me to arrange an informal chat. You may require help for a few hours a month or longer, I am happy to quote for any job.