ACCOUNTS PRODUCTION

Financial management, from VAT returns and payroll, to budgeting and forecasting, is a key function in every business but very rarely a key competency. Done well and it is un-noticeable, performed poorly and the whole company could be jeopardised.

Although important, the time-consuming nature of financial management work means that it is rarely efficient for it to be completed by the management team. Often it is outsourced, leaving management free to concentrate on what they do best. This ensures that 'best practice' management information systems are set up - ensuring all financial decisions can be made from an informed perspective - without consuming precious management time and attention.

H & O Accountants  offers a tailored service to suit your needs. We work with various businesses, from small firms to listed companies, who outsource to us, to varying degrees, aspects of their financial management function - from data processing, VAT returns and payroll, to reporting on key performance indicators, budgeting and forecasting, management accounts and variance analysis. With our emphasis on a flexible service, we can expand, contract or change our service depending on your needs.

By taking an interest in our clients' businesses, we are able create regular management accounts and reports that give you the information you require and the peace of mind that what need to be done is complete.

For more information please contact us at haron@hoaccountants.co.uk.

TAX AND TAX PLANNING

Taxation responds as well to good planning and control as any other business cost. We believe that all clients are different and need individual tax strategies. These strategies ensure that liabilities are known in advance and that maximum benefit is made of allowances and reliefs.

Tax compliance
The UK tax system continues to grow increasingly complex and confused with self-assessment bringing only more pressure to bear. We aim to ensure that our clients submit correct tax returns on time, avoiding penalties. Advance notice of rules and deadlines is our watchword and notification of liabilities, payment dates and amounts naturally follows. Additionally, we handle all Inland Revenue enquiries negotiating with the Revenue where necessary.

Tax planning
At H & O  we don’t help our clients plan to pay tax, we help our clients plan how to mitigate their tax liabilities. Like all planning, early involvement is a hallmark of a successful outcome.

Our tax planning operation cuts right across the main UK tax codes which is to say income tax, capital gains tax, inheritance tax and corporation tax. Different clients require individual tax planning strategies. We are skilled in advising across the spectrum of situations arising regularly or as one-off transactions. Planning not to pay tax can be applied just as effectively across the business and personal arena.

Inheritence Tax

Inheritance tax is the most aggressive tax in our tax system. It applies to gifts of capital and is levied upon the value of assets transferred.

We are well placed to review a client’s asset base, personal circumstances and requirements for life. Together with clients, we work to develop a comprehensive plan, which empathises with their objectives and maximises tax mitigation opportunities.

VAT
The first impression of VAT is that it is a simple tax to administer but behind the apparent simplicity lurks complexity beyond the wildest imagination. The unwary can become trapped in its intricacies. Hardly surprising then that this labyrinth of law leads to inaccuracies in returns and the penalties that flow from them.

BUSINESS START UP

H & O  works with clients from the very beginning throughout the growth of their businesses, adapting services as and when necessary. Drawing upon diverse experience gained from involvement across a broad range of businesses we can work in partnership with you to develop your business to its full potential.

Trading vehicle
We can advise on the most suitable trading vehicle for your business be it a limited company, partnership or limited liability partnership.

Compliance
The next steps will be to develop a business plan with financial projections, after which we can help clients’ open bank accounts and advise on suitable mandates for cheque signatories. All necessary compliance matters will be undertaken too as will the establishment of the right accounting systems, procedures and internal controls.

VAT
In any business deal or start-up you need to consider the VAT consequences. To avoid the sting of retrospective charges and penalties it is essential to obtain comprehensive VAT advice. H & O Accountants is committed to minimising VAT costs to you, offering skilled advice on registration, compliance and planning.

Payroll
Providing a bespoke service, we tailor the payment of wages and salaries on a weekly or monthly basis to clients’ individual needs. Given details of the company’s employees, the service is structured accordingly with relevant compliance matters dealt with alongside the provision of necessary documentation to employees, directors and bookkeepers.

Bookkeeping and management accounting
Many businesses are unable to support the high cost of establishing a proper bookkeeping department and management accounting system. H & O Accountants specialises in assessing individual clients’ needs then recommending and implementing the appropriate level of service. From providing cashflow forecasting and analysis of financial results to preparing cheques for approval and liaising with banks, we are experts in delivering a total service at a fraction of the cost of an internal accounts department.

We can also advise on the selection of accounting software.For more information and helpful advice about starting your own business, please email haron@hoaccountants.co.uk