Accounts Preparation
Every business has a statutory obligation to produce annual accounts for the appropriate authorities, namely HM Revenue & Customs and Companies House. Whether you are a limited company, partnership, sole trader, charity or a non-profit making organisation, accurate accounting is essential for the management and control of your business.
Accounts preparation is a core function of our firm and we pride ourselves on being able to fulfil all your requirements in a timely and efficient manner. Our key objectives in accounts preparation is to identify areas where we can assist in minimising your tax liability, whilst ensuring the accounts comply with statutory regulation. We strive to attain a greater insight into your business allowing us to give you the best advice and recommendations on achieving your targets.
We also provide bookkeeping services and maintenance of VAT records including submissions of VAT Returns allowing you to concentrate more on conducting your business.
Audit & Assurance Services
As Registered Auditors, we appreciate that well organised businesses require prompt reporting to the management and shareholders in addition to the delivery of business assurance reports within agreed timescales. It is also important to note that a well-prepared report can enhance your external image and have a considerable positive impact on investors, potential finance sources, customers, and prospects among others.
We provide Statutory and Non-Statutory Audits as well special regulatory reports professional practices, charities, and non-profit making organisations.
Taxation
As tax advisers, our objective is to work closely with you to ensure you pay the minimum tax required by law. We will assist you to understand the tax implications of your actions, to allow you to plan ahead and conduct your affairs in a tax efficient way.
Our Service provision includes:
- Determining the most tax effective structure for your business
- Taking full advantage of tax opportunities and relief’s
- Assistance in preparing tax provisions for financial statements
- Preparation of tax computations and company tax returns
- Acting on your behalf in discussions with the tax authorities
- Advice in connection with VAT, NIC and director/employee benefit legislation
- Reviewing the tax implications of the purchase or the sale of a business
Tax & VAT Investigations
Being the subject of a tax investigation by the HMRC can be a tense and worrying experience. With Shabbir & Co, clients who have to undergo a tax investigation (business or personal) are reassured that they have a specialist on their side. We assist in dealing with the HMRC, and also aid by
- Minimising the tax liability and interest due
- Negotiating the lowest possible penalties
- Negotiating to avoid prosecution
Self Assessment
Our Service provision includes:
- Preparation of Self Assessment Returns
- Advice on the amount and timing of Self Assessment payments
- Acting on your behalf in discussions with the tax authorities
Tax for Non-Resident
For the individual or business that is contemplating a move abroad or expand overseas, or for those planning an extended stay or setting up a base here in the UK, there are a number of important taxation issues to consider. We will be able to help you with:
- Tax residence
- Non-domicile claims and minimising UK tax on overseas assets and income
- UK tax compliance
- Setting up your business in the UK
Payroll Services
Efficient operation of your business’ payroll system is essential. It is important that this routine yet vital operation is correctly carried out and PAYE & NIC payments are made promptly to avoid penalties.
Our Service provision includes:
- Accurate administration, processing and reporting
- Advise and operating SSP and SMP payments
- Production of payslips
- Completion of End of Year Returns P14 P60 P35 and P38A end of year returns
- Liasing with tax authorities and DSS on all matters regarding payroll
Construction Industry Scheme (CIS)
Due to the new legislation with affect from 6th April 2007, it is vital to ensure returns are filed promptly in order to avoid any penalties.
Our Service provision includes:
- Administration and processing of CIS monthly returns
- Liasing with tax authorities on your behalf
- Advice on the amount and timing of tax payments
Financial Consultancy
Every business must continuously analyse both their current financial and non-financial information in order to successfully plan the future direction of the organisation. With our vast knowledge and experience, we can assist in this process and provide expert advice on how best to achieve these long-term goals.
Business Plan & Start-Ups
We can assist by evaluating your objectives and help you develop them into a viable business by:
- Determining the most suitable structure for your business - sole trader, partnership, or limited company
- Prepare a business plan, cash-flow forecasts, budgets, and trading forecasts
- Assess your finance requirements, recommend suitable sources of finance, and arrange the necessary proposals
- Establish a valuable working alliance with the bank.
- Assist with all aspects of business compliance and administration including any registration procedures
Company Formation & Secretarial Duties
We provide facilities to form a limited company and in addition to this we provide full company secretarial service to ensure that statutory records are correctly maintained and that statutory documentation is filed in accordance with Companies Act requirements. These include:
- Company formations
- Preparation and filing of statutory returns
- Registered office facility
- General advice on company law
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