Bookkeeping, Accounts & Tax Services
Accurate & efficient recording of your businesses financial transactions using XERO Cloud Accounting & partner apps tailored to your business needs.
Includes (as required): –
- Managing and recording all daily transactions, deposits, and payments.
- Reconciling bank account(s) either daily or monthly as & when required.
- Preparing balance sheets.
- Record and complete all accounts payable and accounts receivable transactions.
- Credit Control (chasing payments either via letter or email).
Monthly or weekly payroll from salaried employees to timesheets, I provide a comprehensive and hassle-free payroll process using XERO payroll.
Includes (as required): –
- Manage, collate, and input data accurately relating to each employees’ salaries (whether monthly or weekly or ad hoc) and calculate deductions as required ensuring that staff receive the correct payments.
- Ensure that all contractual changes that have been advised are implemented in line with payroll deadlines.
- Process various statutory forms i.e., P45s, P46, MATB1, Student Loans, P60 and P11d’s.
- Assist with the completion of year end submissions.
- Manual calculation of salary including equated changes where necessary, including back pay, over/under payments, leavers, annual leave, and other ad hoc manual adjustments.
- Calculation of Statutory Maternity Pay (SMP), Shared Parental Leave (SPL) and Statutory Sick Pay (SSP).
- Ensure clients Childcare Voucher Scheme are operated efficiently, that all deductions are reconciled, and advise of payment due to the scheme provider.
- Ensure correct pension payments are calculated, reconciled, and advise of payment due to pensions provider.
Preparation of sole trader or partnership year end accounts.
Includes: –
- Statement of Profit or Loss for the year
- State of Financial Position for the year
- Client Declaration & Approval
- Notes to Accounts
Completion of Self-Assessment (SA) Tax Returns for individuals, trusts and estates (including informal estate reporting and the completion of individual SA returns for the period to date of death). I provide a straightforward explanation of tax liabilities, thresholds, and as a separate service a comprehensive review of the circumstances to determine whether self-assessment is appropriate.
Capital gains calculations, estimates & support with or completion of HM Revenue & Customs (HMRC) 30-day return portal and the reporting requirements.
Private Client Services
Trust Accounts
A complete recording of the financial transactions in relation to the trust administration either annually, biannually or on a biennial basis.
Includes (as required): –
- Synopsis
- Capital Account Summary
- Income Account Summary
- Property Rental schedule (if applicable)
- Income Accumulation Account Summary (if applicable)
- Beneficiary schedule (if applicable)
- Securities schedule (if applicable)
- Reconciliation/Balance Sheet
- Trustee(s) Declaration & Approval
- Notes to Accounts
Cash Flow Forecasts
This spreadsheet will provide an estimated overview of the liquidity position of the trust fund for a future period. This can be the following three, six or twelve months (as required). Cash Flow Forecasts are used to assist trustees with understanding what possible cash may be available. i.e.., for distributions or where there will be a shortfall of cash i.e., for any liabilities that are due.
Income & Expenditure Accounts
A nominal account that only includes revenue items. These accounts are usually for trust funds where there is either a managed investment portfolio, or only a property as the trust asset and the trustees and or, beneficiaries would like a clear breakdown of the monies in and out of the trust over a required period.
Includes: –
- Income schedule
- Expenditure schedule
- Trustee(s) Declaration & Approval
A complete recording of the financial transactions in relation to the period of an estate (probate) administration from date of death to completion.
Complex Estate Accounts
These accounts are for estates where a full Inheritance Tax (IHT) return has been or needs to be submitted to HMRC and or, the estate has complex assets that require comprehensive accounting i.e., a rental property, an investment portfolio, or multiple beneficiaries.
Includes (as required): –
- Synopsis
- Executor(s)/Personal Representatives Approval
- Capital Account Summary
- Schedule of Assets and Liabilities as at date of death
- Dividends quoted ‘XD’ at date of death
- Accrued interest schedule
- Joint assets schedule
- Chattels schedule
- Securities schedule
- Summary of Additions and Gains and Losses on sale
- Administration Expenses schedule
- Inheritance Tax schedule
- IHT instalments schedule
- Lifetime gifts schedule
- Capital gains tax schedule – Property
- Capital gains tax schedule – Securities
- Income Account Summary
- Dividend schedule (received during the administration)
- Beneficiary Statement(s)
- Reconciliation/Balance sheet
- Notes to Accounts
Simple Estates
These accounts are for estates where the assets are straightforward i.e., a property lived in by the deceased and cash held in bonds or bank accounts.
A full Inheritance Tax (IHT) return may have not been required, and how the estate is to be distributed is uncomplicated.
Includes (as required): –
- Synopsis
- Executor(s)/Personal Representatives Approval
- Capital Account Summary
- Inheritance Tax schedule
- Capital gains tax schedule – Property
- Income Account Summary
- Beneficiary Statement(s)
- Reconciliation/Balance sheet
- Notes to Accounts
(to record the transactions for the annual OPG102 Deputy report)