Makesworth Accountants

Most people starting up in business do so because they have a good business proposition and the enterprise and commitment to see it through.

However, they may not be experts in the legal and financial aspects of running a business and such matters often appear daunting. Fortunately, you do not need to be an expert in these fields to succeed in business but you do need the support of a team of trained experts.

Makesworth has designed a streamlined structure to guide you towards the simplest procedure of company formation.

We will not overload you with any technical jargons rather make it crystal clear for you to decide on what exact information you would like to register for your new company. We have a panel of specialists who will guide you through this process to get your new business on track.

1. Self Assessment Tax Return
2. Capital Gain Tax
3. Tax Inquiry Insurance

Statutory Accounts are the legal obligation for all companies to be declared to Companies House and HM Revenue & Customs
Makesworth takes its profession seriously enabling their clients to comply with the laws and regulations. We can understand that these processes are administrative and can be ambiguous for the clients to prepare. Our team of Accounts Experts can guide you to a streamlined process of accounts preparation where the only co-operation we would request from our clients is to provide us the financial records.

IR35 is tax legislation that is aimed at identifying people who are termed ‘Disguised Employees’ by HMRC and avoid paying tax by trading through their own company. By offering services through a company you can benefit from certain tax breaks. The IR35 legislation is there to make sure you’re a genuine company rather than an employee disguised as a company just to be able to take advantage of these tax breaks.

If HMRC considers you a disguised employee and come under IR35 regulations, they will not recognize that you – as a contractor – are self-employed from a taxation perspective. You will then be subject to the same rate of tax as an employee.

We provide a tailored increase, decrease, sub-division or consolidation of share capital.

A newly drafted set of Memorandum and Articles of Association are supplied with any change in share capital.

All resolutions and filings are prepared on your behalf.

A limited company has responsibilities that it must fulfill under the Companies Act; these include keeping statutory registers on Directors, Shareholders, Debentures etc. and filing an Annual Confirmation Statement etc.

Any business that has employees will need to run a payroll and submit RTI (Real Time Information) Returns to HMRC on each payday. Unfortunately, penalties starting at £100 per missed RTI return are payable to HMRC and any underpaid tax and NI due will also accrue interest.

If you choose us to complete your payroll you will receive all of the following benefits for a low monthly fixed fee

Since April 2019, VAT registered businesses with a turnover above the VAT threshold need to keep digital records for VAT purposes using the Making Tax Digital (MTD) protocols. This means that businesses must keep their records digitally (for VAT purposes only) and provide their VAT return information to HMRC through MTD compatible software.

Businesses with a turnover under the VAT registration threshold (currently £85, 000) are not mandated to use the MTD for VAT service but can opt to do so if they wish. There is also an exception for certain businesses that have until their first VAT Return period starting on or after 1 October 2019 to start using MTD for VAT. This includes businesses that are part of a VAT group or VAT division, use the annual accounting scheme or that make payments on account.

Ever changing regulations and the growing demands of HMRC mean VAT compliance can be a difficult administrative process. We can help to ensure that you comply with the regulations and that overpayments are not made. To help you manage this complex area, we provide an efficient, cost-effective VAT service, which includes

With the advancement of technology, it is vital we have access to real-time financial information to be able to track how your business is faring, whilst empowering you to make the decisions needed to grow and develop your company.

Makesworth Accountants are here to help clients like you choose the most appropriate online applications and analytical techniques for your financial and reporting needs. This provides you with real-time insight into the financial and commercial dynamics of your organisation, and – coupled with our sector and commercial expertise – ensures you can plan a successful way forward.

“Registered Office is the legal address that is shown on the public register at Companies House. This is the prime address used by the Companies House and HM Revenue & Customs for the official correspondences as required for your business. ”

In some occasions, our clients do prefer to use our address as their registered office address. Makesworth does understand that businesses require this service for various genuine reasons and on the contrary, it is quite an advantageous service to make full use of.

Tax planning is the legal and complex process of arranging your affairs to minimize a tax liability.

The UK tax system is complex and subject to constant change. We offer proactive tax planning strategies for many SMEs, Corporates and even high net worth individuals.

There is a wide range of reliefs and provisions that are available to legitimately reduce a tax liability without straying into the rather more challenging area known as tax avoidance.

At Makesworth, we have years of experience and accumulated knowledge to help you to execute the best tax planning for your business or personal incomes or wealth. We make sure you get the best of your income so that you can live a life you desire.

Our expert advice could result in potentially significant improvements to your business and personal wealth.

The Seed Enterprise Investment Scheme (SEIS) offers great tax efficient benefits to investors in return for investment in small and early stage start-up businesses in the UK.

SEIS was designed to boost economic growth in the UK by promoting new enterprise and entrepreneurship.

The scheme was introduced in the Chancellor George Osborne’s 2011 Autumn Statement which heralded a big shake-up of tax incentives for investors, with the Enterprise Investment Schemes and Venture Capital Trusts also being revamped

Now the Seed Enterprise Investment Scheme has become one of the most revered government-backed schemes ever created.

We understand the crucial role of Finance Officer in giving the business strategic direction and impacting business operations. However the cost of employing an experienced full time Finance Officer can be quite burdensome for some companies. Our Virtual Financial Officer look to fill that void and give that competitive advantage back to our clients, so they can concentrate on their business. We have been able to provide this service through partnering with cloud based accounting solution like Xero, Quickbooks and FreeAgent that enables us to have access to clients data, irrespective of where they are.

Right Advise At The Right Time Is A Crucial Part Of Running Business With Right Decisions

The most common problems faced by businesses today are bad debts, excessive borrowing and low property values where these are all not focussed on kept aside until the last moments. These risks if ignored can fuel huge problems.

The key solution to this is to seek for professional assistance as soon as the first signs of risk appears. With the help of a genuine and timely advice, a business owner can save himself and his company from the risk of committing offenses such as wrongful and fraudulent trading, misfeasance and more where the penalty might be worse.

Tax inquiries and investigations can be expensive, stressful and cause huge emotional distress. We provide a full range of tax advice to individuals, trusts, and companies and our expert team have vast experience in dealing with tax investigations and disclosures and resolving problems with HMRC. All of our consultants are highly experienced in dealing with tax issues and we are specialists in this area.

We are offering prospective clients a one-hour, no-obligation review. It gives you a chance to find out what we can do for you

Entrepreneurs thinking of expanding the business means that their initial business plan has worked very well and therefore they are ready to grow now. So having the hard-work paid off, you need to be proud of your achievements and also be ready for more hard-work to gain more growth in your business.

Business expansion will involve a lot of time, money and effort in regards to planning, cash flow management, growth strategy development. All types of investment come with risk and therefore, the right team of professionals is required to guide you through every step and ensure that your plans are designed for a smooth implementation.

Makesworth Accountants offers first-class professional courses on Accountancy, Payroll, Bookkeeping and many more. These training packages are available through our sister company, ‘SVS College of Professional Education London Ltd’.

SVS College of Professional Education London Ltd is the UK registered training provider offering a unique blend of training packages and various seminars for professionals. The seminars would cover some really useful issues relating to;

Anti-Money Laundering
Taxation
Payroll Management
Pension Auto-Enrolment Duties
HMRC Tax Investigation
Practice Management and many more

Have You Missed Out On Some Tax That Could Have Been Saved? Here we have a designed a simple guide for you to understand the usefulness of Research & Development Tax Credits.

UK Government has initiated the incentive to encourage innovation in various industrial sectors where it is an opportunity provided to companies to use their financial resources in research and development (R&D) and claim the expenses against your corporation tax bill.

It is a misconception that people have in their minds today by being put off with the thought such that R&D Tax Credits can only be claimed by scientists and such related researchers. But this is not the case. This area is open to all the businesses who wish to invest their valuable time in researching for the growth and development of their business using their business hours and resources.

The current economic climate has re-emphasized to the business world the importance of keeping costs to a minimum and being as efficient as possible within each area of your business. This has encouraged the growth of the market for business process outsourcing in accounting and other sectors.

For businesses setting up for the first time, space and the ability to invest in an accounts team may not be within their budget. Many new and smaller companies are unable to afford their own internal finance teams or financial controller, despite needing to have these functions and financial expertise readily available to them. This highlights the importance of being able to outsource specific functions, with the ability to draw on these resources when required.

Auto Enrollment is a government initiative to encourage the people to save for their retired life through pension scheme at work. Auto Enrollment is taken seriously by the government where all the employers legally need to automatically enroll their eligible employees into a pension which could come up with escalating penalties if not fulfilled on time.

I am a chartered certified accountant, having earned a respected reputation in the field of accounting, with more than 15 years of experience in working with small and medium-sized enterprises.

Having worked with business owners ranging from one-man start-ups to large companies requiring different level of services, I have developed a passion for the profession and I am driven by the success of my clients.

I have spent many years in business working at boardroom level, holding various positions before being motivated to start my own practice, Makesworth Accountants, where I have blended my technical skills in accounting and tax with my business skills derived from my time in the industry.

I have embraced the changing times and technologies and strongly agree that accountants are moving from being number crunchers to being reliable and trusted advisors. Throughout this process, Makesworth has been able to secure various affiliations:

IPSE Endorsed Accountants
Investors In People Accredited
ICAEW Training Employers/ACCA Approved Employers/AAT Approved Employers
Institute of Certified Practising Accountants (ICPA)
The Society of Professional Accountants (SPA)
2020 Group

My objective is to add value to my clients’ businesses through the application of my extensive experience and knowledge in accounting, tax, HMRC investigations, business start-ups and much more.

You can expect us to provide expert solutions for your business needs no matter what business model you have. You will receive a cost effective service and a free initial consultation.
For more information Book a Free Consultation: https://makesworth.co.uk/book-free-consultation/