Business Services

 

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Bookkeeping Services

When you’ve got all the pressures of running a business on a day to day basis weighing heavy on your shoulders the last thing you want to be doing is updating all the bookkeeping records. It’s understandable that you would rather spend the evenings and weekends with your family and friends rather than pouring over the books. No wonder this necessary evil becomes one of the lowest priorities. 

However keeping accurate records of your business is not only vital to the well being of your business but also a statutory obligation, an absolute requirement laid down in law by HMRC. A necessary evil.

HMRC are moving to Digital Record Keeping  from 2019 with those with a turnover above the VAT threshold (£85,000) the first to be affected. But, from 2020 most other businesses and many landlords will be required to electronically deliver figures to HMRC on a quarterly basis. My bookkeeping service will of course ensure that there is a system to accurately record your business transactions and ensure that the necessary figures are submitted and if you wish to keep the records yourself I will help you choose the right software and guide you as to how to use it effectively.

Digital records also means that you have access to live data about your business which enables you to make effective decisions about your business. You can also give me instant and ongoing access to this data which means I can offer advice as well.

I can provide you with as much or as little help as you might require whether you are simply recording transactions,  invoicing on a daily basis or just from time to time. 

What I aim to do is remove the bookkeeping burden and the worry about the compliance with HMRC from your shoulders and let you get on with the important task of growing your business and making money.

My rates are honest, open and competitively priced on a monthly basis to assist with affordability and cashflow.

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Payroll Services

Paying employees and calculating remittances due to HMRC is an essential component of running a business with a workforce. Whether payments are made on a weekly, monthly or ad-hoc basis, it is vital that the calculations are exact and that the information is presented instantly under the Real Time Information reporting obligations to HM Revenue and Customs.

My payroll service is comprehensive and capable of dealing with every aspect of UK wages and salaries requirements. From registering you as an employer my payroll service can adapt to account for changes in the workforce, hours, changes to tax rates, holiday entitlements, workplace pension deductions and other components which can effect the calculations. After each payroll run has been completed, I provide you with the remittance information so that all you have to do is to arrange pay the salaries and the deductions to HMRC.

I can provide your employees with online access to their payslips and when staff members leave I will deal with all the leaver administration and provide you with the employee P45.

At the end of each payroll year  I will complete the Annual Return and supply you with the P60’s to give to your employees.

If required I can also maintain employee holiday entitlements and the ongoing administration of such.

All this for an affordable monthly fee to help you with your budgeting.

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VAT Services

VAT is applicable to all business with an annual turnover in excess of £85,000 (2018/19) and is usually paid on a quarterly basis to HM Revenue and Customs.

Whilst there are both benefits and drawbacks of becoming registered for VAT, in the majority of situations, the option whether or not to register is removed by reaching the mandatory figure of turnover.

Each business registered for VAT can benefit greatly from being on the most appropriate scheme, whether it is the cash accounting scheme or a marginal scheme, which could benefit the cash flow position. 

I can register you for VAT, complete the necessary calculations, advise you of the amount due and will arrange for submission of the Return online which is now compulsory.

I am always happy to discuss your VAT requirements, from initial registration through to the administration and calculation of your returns.

Contact Balloon Accounting

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Balloon Accounting © 2018

Independent Taxation and Web Services Limited T/A Balloon Accounting.

Company Number: 11387677

 

 

Balloon Accounting is a member of the Institute of Certified Practicing Accountants

 

 

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