WARR & Co offer a comprehensive range of accountancy services. Please click on the links below to find out more about some of our services which may be of interest to you.
Self assessment / Personal tax returns – from the simple to complex
We can prepare returns for the employed, self-employed, directors, partners and trusts.
Our experienced tax department can save you a lot of time, worry and money by handling your self assessment for you. We will prepare all the necessary computations, complete your return and even offer advice on how you can minimise your tax liability.
We can act as your agent, dealing directly with HM Revenue and Customs on your behalf and, should you be selected for a self assessment enquiry, act for you at any meetings.
Income Tax, Capital Gains Tax (CGT) & Inheritance Tax (IHT) mitigation and deferral planning
It goes without saying that a key objective in our role as both accountants and independent financial advisers to our clients is to minimise tax in whatever planning we undertake.
There are many opportunities to reduce your exposure to Income Tax, Capital Gains Tax (CGT) and Inheritance Tax (IHT). All can be achieved with the benefit of a combination of foresight and the right professional advice.
Effective planning begins with establishing a desire to reduce a potential liability and taking one or a series of steps. This can often be as simple as ensuring appropriate tax allowances are utilised or ensuring timing is considered and actions are accelerated or delayed as appropriate. Where investments are being undertaken, whatever they may be, it is crucial to effective tax planning that regardless of what the underlying investment is, careful consideration is given to the most appropriate investment wrapper. Clearly the effectiveness of such should not only be assessed based upon a current tax position but also with thought to that in the future when the investment will likely be realised.
Our advice is tailored specifically to individual circumstances. Please feel free to contact us to see how we can help you mitigate any potential tax liabilities.
Sole trader and partnership accounts preparation
We can prepare sole trader and partnership accounts to the required formats for the inclusion in your self assessment tax return.
We can assist and provide guidance on tax matters for sole traders and partnerships and provide tax planning advice on how to reduce your liability.
There is a good chance that at some point in your business or personal life you will find yourself involved in a legal dispute over money. It could be any of the following: -
- Personal injury claim
- Contractual dispute
- Insurance claim
- Contested business loss
- Matrimonial dispute
- Professional negligence claim
- Tax enquiry
- Royalty or copyright dispute
- Fraud investigation
In such cases we can work with your lawyer to study and interpret the facts of the case in a professional manner. Often our involvement at an early stage can result in the matter being settled out of court. If there is a need to pursue litigation we can: -
- Provide the necessary information and documentation to support your case
- Produce valuations in support of a claim
- Act as an expert witness in court
These services can considerably strengthen your case and cut your litigation costs.
Business start up
Most people who start up in business do so because they have a good business proposition, not because they are experts in the legal, financial, and fiscal aspects of running a business.
These factors can often seem daunting to the entrepreneur and this is where we can help by evaluating your ideas in a constructive manner and help you to develop them into a feasible business. We can also help you: -
- Decide on the most suitable structure for your business - sole trader, partnership, limited liability partnership or limited company
- Prepare a business plan, cashflow projections, budgets, and trading forecasts to prove the financial viability of your business and demonstrate this to potential investors / bank
- Assess your finance requirements and advise on the best sources of finance
- Help you establish relationships with banks, solicitors etc via our well established network of contacts
- Complete any registration procedures with Companies House and HM Revenue and Customs
- Deal with company secretarial issues
- Set up an internal accounting system for complying with statutory requirements
Start your new venture on a sure footing - feel free to call us for an initial consultation.
Limited Company formations
We can incorporate your company for you within the same day as your instruction.
Our formation service includes;
Electronic copies of: -
- Memorandum and Articles of Association
- Certificate of Incorporation
- Full set of the statutory company register including share certificates
- Minutes of first meeting.
Hard copy of: -
- The official Certificate of Incorporation
All the above for a fixed fee of £150 excluding VAT.
Please follow the attached link and provide the necessary information in order to proceed with the formation of a limited company.
Clearly, an important starting point is the company name. You can search for available company names by clicking here which will direct you to the free web search facility on the Companies House website.
Business plan preparation & profit / loss forecasting
Should you be looking to secure additional finance or set targets to work to, Warr & Co can help you prepare a Business Plan suitable for your requirements.
We can prepare your budgeted cashflow, profit and loss and balance sheet for six, twelve or even sixty months.
By having extensive knowledge of most industries we can ensure your forecasts are a reasonable expectation of your projection and include all the necessary overheads.
Maintenance of accounting records / bookkeeping
We can provide training and advice to enable you to keep the required statutory accounting records. Whether these are manual records, spreadsheet based or computerised we have the expertise to advise on the most suitable solution for your business.
We are a member of the Sage accounting club. This enables us to sell the full range of Sage accounting software. We can also provide ongoing training and advice to enable you to understand and utilise to its full potential.
Should you wish to use the services of a self employed bookkeeper, we can assist with finding someone suitable.
VAT compliance and preparation of VAT return information
Value Added Tax (VAT) is one of the most complex and onerous tax regimes imposed on business - so complex that many businesses inadvertently overpay or underpay VAT.
The ever widening scope of VAT, the constant stream of detailed changes to the regulations and the ever growing demands of HM Revenue and Customs call for a trained professional eye to ensure that you do not fall foul of the regulations and do not pay the Exchequer more than you need to!
We can provide the following services: -
- Assistance with VAT registration and cancellation
- Advice on VAT planning and administration
- Use of the most appropriate scheme
- VAT control and reconciliation
- Help with completing VAT returns
- Negotiating with HM Revenue and Customs in disputes and representing you at VAT tribunals
Payroll can be time consuming and burdensome, diverting energy and resources from the core activities of your business. The task is made all the more difficult by the growing complexities of tax and employment legislation, and a regime of substantial penalties for non-compliance.
We can relieve you of this burden, providing comprehensive and confidential payroll service such as: -
- Weekly and monthly payslips
- Administration of PAYE, national insurance, statutory sick pay, statutory maternity pay, etc
- Completion of statutory forms including year end returns and online filing
- Summaries and analysis of staff costs
- Advice on new employees and leavers
- Administration of incentive schemes, bonuses and ex-gratia termination payments
- Tax Planning - leaving you with more!
Completion and online submission of PAYE returns
Should you operate your own payroll you may find the year end return submission a minefield. Should you inadvertently omit any documentation, hefty fines can be incurred.
We can complete the payroll year end submission for your business. We utilise internet filing and obtain the online incentive refunds available to you.
Preparation of annual accounts and Corporation Tax returns
If you are a limited company then you are required to prepare accounts that must be filed with Companies House and H M Revenue and Customs in a statutory format.
We can help you by preparing your statutory accounts and filing them for you.
Should your accounts require auditing, as registered auditors we can carry out an objective and cost effective audit in a timely manner.
We deal with all business tax matters, including preparing corporation tax computations and preparing and submitting your corporation tax self assessment return.
Preparation of management accounts
The most important part of our compliance services is the preparation of periodic management accounts. Monitoring and controlling the financial performance of your business is of paramount importance and regular management information is vital to the continued success of your business. We can either carry out this function for you or help you set up internal systems to generate the information.
We will also take this service one step further by interpreting these figures for you and making suggestions to help you improve your profits and to help your business grow.
Company secretarial services
The last thing you need as a busy business owner is to use up valuable time and resources making sure you are complying with the Companies Act.
Moreover, with company legislation changing at the rate it does, you need to be sure you are fully aware of how the changes affect you and your fellow directors.
We can give you complete peace of mind in this area by carrying out your company secretarial duties for you.
Our services include: -
- Company formations
- Preparation and filing of statutory returns
- Preparation of all documentation related to minutes and resolutions
- Maintenance of statutory books
- General advice on company law
Our Guide to...Company Secretarial Duties provides a valuable insight into the role of a Company Secretary.
Completion of forms for Companies House
We can assist with the completion of the following returns, however, most forms will require a Director or Company Secretary’s signature: -
- Annual return
- Change of address
- Share capital changes
- Company formation forms
- Appointment and resignation of a Director and Company Secretary
- All other Companies House documentation
Corporation Tax planning
Corporation Tax represents a substantial part of your trading costs. Moreover, the increased reporting obligations, robust investigation policies on the part of the tax authorities, and harsher penalties for non-compliance mean that an undue amount of your time and resources can be taken up collecting revenue for the Government.
We offer a range of services to help you minimise your corporate tax exposure and relieve you of the administrative burden of complying with tax legislation. These include: -
- Determining the most tax effective structure for your business
- Taking full advantage of tax opportunities and reliefs
- Achieving the optimum capital or revenue tax treatment
- Reducing tax on disposals and maximising relief on acquisitions
- Making the most of tax opportunities specific to your industry
- Meeting the rigorous demands of compliance including Corporation Tax self assessment
- Acting on your behalf in discussions with the tax authorities
Efficient Corporate Tax planning can result in potentially significant improvements in your bottom line.
Specialist banking services
Whether you are a cash business with daily banking requirements or a small business with only have a few banking transactions each month, we can advise on which bank would be suitable for your requirements.
We can assist with opening high interest bearing, internet access, business current and reserve accounts or introduce you to a business banking relationship manager suitable to your company.
We can assist with raising finance and have an established network of contacts to access the most appropriate source of finance.
Limited Company dissolution
Should the time come to close your business, we can provide the complete service to dissolve your company.
Our service includes: -
- Assistance with cancellation of your VAT registration
- Closure of your PAYE and payroll scheme
- Accounts completion to cessation of trade
- Liasing with HM Revenue and Customs to close the company and gain extra statutory exemptions
- Completion of necessary Companies House forms
- Tax planning to establish the most tax efficient way to extract profits on dissolution of the company
Whether you’re an independent community pharmacy or a locum pharmacist we can provide the support necessary to successfully grow your business and remove all the accounting and tax headaches from you. Find Out More
Flat Management Accountants
Warr & Co is a leading firm of Chartered Accountants specialising in Flat management Companies. Our friendly team offers a unique client focused service to ensure all your accounting requirements are dealt with as smoothly and efficiently as possible. Find Out More
If you would like further information about any of our services or wish to discuss how we can tailor our service to your personal requirements, please do not hesitate to contact Tim Warr, Peter Edwards or Suresh Dhokia at our office.