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FAQ's
FAQ's
How can The Accounts People help me start up
in business?
We can help you from the start. The procedures will depend on
whether you want to start up as a Sole Trader, Partnership or
a Limited Company. The issues that usually determine what setup
is best for you are Tax Implications, Personal Liability, Capital
etc. Top 
How can you advise me on keeping my records
to keep Revenue and Customs happy?
There are many different records that have to be kept by a business
– VAT, PAYE, accounting records of sales and purchases –
to name but a few. If the records are inadequate in any of these
areas, you could fall foul of the law. All businesses have to
submit accounts to the tax authorities. All limited companies
and limited liability partnerships also have to file annual accounts
with the Registrar of Companies which follow specific guidelines.
Companies with a turnover of more than £5.6m are required
by law to undertake an annual audit, carried out by a registered
auditor
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Can you help me improve my Profits?
Our team has many years experience as Accountants and Management
Consultants to examine your Business Processes and evaluate your
Profit Potential. We can prepare Break-even Analysis, Budgets,
Financial Ratios, Cash Flows, Profit Projections etc to help you
set realistic Financial targets for your business. Other factors
which would determine your Profit potential is your current Financing
situations, Tax implications, interest Rates etc.
To know more about how The Accounts People can help you maximize
your profits, please browse through our Services on Offer
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How can you help me with my Corporation Tax
Return?
We can assist you with the Corporation Tax Returns. We can also
help you with the completion of P11D returns which have to be
completed for all Directors and Employees who earn over £8500
per annum. Top
Can you help me with raising finance for my
business?
We have close working relationships with several banks, Business
Angels, Venture Capital Trusts and can negotiate the best deal
for you. To find out more about how we can raise finance for your
Business, Please visit the Banking and Finance section of our
services. Top
How can The Accounts People help me with my
Tax Liabilities?
Filling in tax forms can be complicated. Whatever the tax assessment
involved - income tax, corporation tax, VAT, etc, we can help
to collate the necessary information and prepare the return on
your behalf. Where there is a dispute over a tax liability, we
can provide advice on the detailed issues raised by Revenue and
Customs. If too much tax has been paid in the past, it may be
reclaimed in certain circumstances. Typical examples of overpayments
include a non-taxpayer’s investment income being taxed at
source, incorrect PAYE coding or the omission of allowable expenses
from a tax return. Top
Can you help me with minimizing my Business
Tax?
The dates chosen for starting or ending a business and for its
accounting year end can make an important difference to the tax
position and cash flow. Similarly, the timing of important transactions
or purchases of capital equipment can have a significant effect.
From our experience we have found out that whenever our clients
have invested their time in us for a Consultation on Tax Issues
it has payed off for them.
We can help to ensure that all legally available tax allowances
have been claimed and that maximum benefit has been achieved from
the timing of capital allowance claims.
Please feel free to contact us on +44 (0) 207 263 2226 for an
initial consultation.
Top
Can you assist me in the capacity of an Insolvency
Practitioner?
No, we cannot. However we have close working relationships with
experienced Licensed Insolvency Practitioners whom we can recommend.
We will also assist you and mentor you in the process of a CVA,
Administration Order or if your company is going into liquidation
and ensure that your best interests are protected.
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