With the ever-changing regulatory framework and new financial reporting standards being introduced, keeping up with the reporting requirements for your accounts can be time consuming. We have experienced accountants who can assist you in preparing your accounts in line with the latest disclosure requirements.
More than simply ‘accounts preparation’ we can also help you make informed business and personal decisions by putting the figures into perspective to help you fully understand and get the best out of your business. Our accountants can explain:
- How profitable and stable your business is
- How to use your financial information to make the right business decisions.
- How best to finance things in the future
- How to manage your business for success.
Our Accountants can assist you with the following company secretaries works:
- Company formations
- Completion statements
- Directors appointments and terminations
- Company Closures
Self Assessment Tax Return
Our self-assessment service for individuals helps to ensure that your tax return is completed in a timely and efficient way, whilst at the same time ensuring the right amount of tax is paid. You may choose to complete your own self-assessment tax return. However, you may find using our services has a number of benefits. These include:
- Ensuring all tax allowances and deductions are claimed
- Easing the burden of additional paperwork
- Specialist tax knowledge which can help you minimise or even mitigate fully any tax liability, now or in the future.
With the increasing complexity of business tax, we can help you to remain compliant with the rules, whilst taking advantage of the numerous tax reliefs and allowances available.
We are here to guide you through the minefield of tax compliance and help you minimise your tax liabilities, whilst keeping in mind commercial considerations. Some of the areas we can advise on include:
- Determining the most tax-efficient structure for your business
- Minimising tax on acquisitions and disposals
- Maximising the use of tax allowances and reliefs
- Tax-effective remuneration strategies
- Retaining more profit or extracting more value
- Accessing finance for development
Running a business as well as keeping track of finances can mean you often have a lot on your plate. If you feel like you’ve bitten off more than you can chew, WCCA Accountants offer the perfect solution to your problems. We ensure everything is properly recorded so you can get on with the important part of your business – running it!
Bookkeeping is time consuming and it is impractical to take it all on yourself. Outsourcing your bookkeeping services to WCCA Accountants is quick and easy, all you have to do is supply us with your records and we’ll take care of everything else.
VAT has become increasingly complex over the years and is far from the simple tax we were promised in the early 1970’s when it was introduced. Thankfully, we’re experienced at handling it, so we can help you.
To assist and support clients in dealing with the complexities and vagaries of VAT, WCCA Accountants can provide pragmatic and effective advice on VAT relating to business transactions.
Advice and support is provided on all aspects of VAT including:
- VAT registration
- VAT accounting
- VAT appeals, enquiries and disputes
- VAT planning and consultancy
- Partial exemption
- International issues
- Specialist sectors
Cloud Accounting & Support
How do you know which accounting system to buy, when there’s such a bewildering choice of business accountancy software available? We don’t believe that ‘one size fits all’ is a phrase that can be associated with accounting software. The choice for your business will depend on its size and structure, and also your personal preferences.
We feel that, as accountants, we are best placed to provide a software solution which will make your accounting function as simple as possible, leaving you more time to focus on running and developing your business.
If you’re choosing an accounting system for the first time or upgrading, we offer a variety of products that will make account keeping as straightforward as possible. We’re a QuickBooks Certified Advisor and we can suggest products from the entire QuickBooks range which covers Self-Employed, Essentials and Plus.
We also work with other cloud-based accounting software like Xero.
Making Tax Digital
What is Making Tax Digital?
Making Tax Digital (MTD) is part of HM Revenue & Customs (HMRC) wider digital strategy to make it easier for individuals, businesses and other organisations to ensure their tax affairs are in order.
The driving force behind MTD is the belief within HMRC that taxpayer errors result in a significant proportion of the tax gap, the difference between the tax paid and tax due, and that poor record keeping is a major contributing factor to these errors.
MTD will therefore require businesses, other organisations and individuals to keep their records digitally, using either bookkeeping/accounting software or at the very least on spreadsheets. By doing so, HMRC believe that errors will be reduced and, with them, the tax gap.
When does it come into effect?
From April 2019 VAT Registered businesses/organisations with a turnover of more than £85,000 will be required to adopt and comply with Making Tax Digital.
Will it affect you or your organisation?
If you currently do a tax return or VAT returns, then the simple answer is yes.
Even if you or your organisation or business do not fall within the criteria for digital record keeping and quarterly submissions in April 2019 or April 2020 then your interaction with HMRC will still become more digital.
More and more interaction will be through your Digital Personal or Business, Tax Account.
How can WCCA Accountants help you prepare for and comply with Making Tax Digital?
We can advise you of the steps you need to take to comply with Making Tax Digital. Please contact us for more information.
One of the greatest stresses of owning your own business is paying your employees. At WCCA Accountants, we do the hard work for you, leaving you to concentrate on more important aspects of your business.
Payroll can be tricky as it must be on time and mistake-free. At WCCA Accountants, our payroll team takes you through all the fine details and help make payroll a breeze for your business.
We offer you:
- Processing of all basic pay details such as time sheets, salary, overtime and bonuses.
- P45-P46 starter and leaver processing.
- Tax & National Insurance calculations.
- Processing of Statutory Sick pay (SSP)
- Processing Statutory Maternity Pay (SMP).
- Attachment of earnings orders, pensions and student loans.
- Calculation of net pay.
- Full reports to summarise periodic payroll in simple terms.
- RTI submission
- Full auto enrolment service.
Auto enrolment has been the biggest change to the pension industry for many years, and all organisations with employees have a responsibility to comply with the new legislation.
Every employer must automatically enrol workers into a workplace pension scheme if they:
- Are aged between 22 and State Pension age;
- Earn more than £10,000 a year (2018/2019), and work in the UK.
If you are an employer with staff working for you in the UK then Auto Enrolment (AE) does affect you and there are things you will need to do.