How and When To Grow Your Company’s Accounting Function

The area of company finances is one that’s often shrouded in mystery, with many business owners believing that company information on other companies is simply not possible to get. However, thanks to a wealth of Companies House information being on the public register — this is not the case.

Company information, and company accounts information in particular is actually very easy to get — and at minimal cost too.

Companies House checks or company checks through company search services allow you to get a large amount of company information — ideal if you’re:

  • Considering partnering with another business
  • About to accept a large order from another business
  • About to place a large order with another business
  • Keeping tabs on a competitor
  • Just feeling nosey

What’s more, these company checks are completely anonymous — no one from the company that is being looked into will ever know that you were completing research on them.

Companies House checks and company checks can typically provide you with the following information:

General company information (such as number, type, registered office, SIC code)

  • Credit risk overview
  • Financials overview
  • People overview
  • Group structure
  • List of documents filed

The list of documents filed is where completing company checks can get very interesting. This means you can see virtually every document a company has ever filed with Companies House, including trivial documents — such as a company director updating their service address — to extremely revealing documents such as… company accounts.

This means all the information that company directors may not want you to know, is actually available.

Source: http://brandwz.com

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How To Manage Self Business Accounts – Get The Experts Advice

Chartered Accountants For You Finance

When you decided to become self employed, you made the executive decision to be for own boss and handle everything that came your way. There were some benefits to this decision, like customizing your own working hours and deciding how much you charged for a job, but with every upside there is a downside to counter balance things. Any time spent not working by things out of your hands means that you don’t get an income, dry spells between jobs due to a lull in advertising or lack of general interest from the general public will also result in more finance issues. Worst still is having to do the dreaded taxes by yourself which can spell disaster if you make a single mistake on them.

accountants in London

For the many out there which face these worries every day, fear no longer as there are people that are willing and able to help you if you so much as say the word. If your business requires the aid of London chartered accountants for charities, personal reasons, or forensic purposes, it’s time that you were introduced to the many that live within the city because what you really need right now is a team. A team that will assist and support you through the rough stuff and see you through to the there side clear and safe.

Every year the business world grows a little bit more turbulent. Things get a little bit more complex, and the whole operation goes a little bit faster than it had done the year before. Everyone is clawing at each other’s throats to become the top dogs of their sectors, which is a very hostile environment to be in if you’re self employed, which is all the more important for those that need help get it as soon as possible so that their business expanding and growing with success again. An easy way to think about it would be to picture your business as a life raft on the water and the finance team as an air pump inflating a life raft after said team of people helped plug the holes and fix the leaks.

debating and struggling finances

That aside, for those who are more confident with their abilities to do their own finances but may need access to some information that they could use for a later date, you’re in luck. They can also give you general advice or information pieces direct from their general databases to help you with whatever issue you may be experiencing.

If any of what you’ve read applies to you and your business, then it’s time for you to pick up a phone or get emailing those accountants in London right away. The sooner you do, the sooner you’ll be enjoying the benefits of self employment once again.

Originally published at globalaccessibilitymap.com

How To Choosing A Business Structure

Choosing a business structure

After the start of a brand new year, changing something about the way you do business can make you feel like you’ve turned a new page. This could be anything from launching a new product or service, redesigning your company logo to ordering new office stationery.

Starting Up A New Business

Switching your business’s structure is one such way of changing the way you do business. Sole traders, having recently struck up a good relationship with another like-minded individual, might be thinking about entering a partnership. Having eyed up the potential tax advantages, existing partnerships may be looking into the process of incorporation.

However, changing the structure of your business is not something that should be done on a whim. Uprooting a business from its foundations can have dramatic effects if your planning is insufficient or if there are no tangible benefits to changing in the first place.

How to Choosing a business structure

Before you embark on any structural changes, you should ask the question: is this really necessary?

Becoming a sole trader

Working as a sole trader represents the most rudimentary form of doing business. There is minimal paperwork involved, organising tax affairs is simple (at least compared to limited companies) and there are few statutory obligations to meet.

Things get slightly more complicated if you earn more than £82,000 a year, at which point you’ll need to register for, collect and pay VAT.

business world grows faster

Employing other people will also mean that you’ll need to set-up suitable payroll infrastructure and submit separate returns.

The degree of freedom attracts many to the idea of being a sole trader. You are your own boss, and you alone control the direction of the business. The downside is that you are solely responsible for your business’s liabilities; if debts remain unpaid or if you make significant losses your personal assets will be at risk.

Contact us today to talk about sole trading.

Forming a limited company

Incorporating your business is an entirely different process to setting up as a sole trader. The opportunities for tax planning are more comprehensive but administration can be complex and there are additional regulations to comply with.

A limited company is owned by its shareholders and run by its directors. Unlike sole traders, a limited company is legally separate from its owners. Directors therefore only take on limited liability, meaning that they are only liable for what they have invested in the business.

Compliance with the Companies Act can seem intimidating for those thinking about incorporating their business. After registering with Companies House your business will need to:

  • File and maintain statutory accounts
  • Pay corporation tax, PAYE and national insurance (NI) bills
  • File VAT returns if applicable
  • Comply with auditing requirements (if your business is above the small business auditing threshold).

While limited companies face the additional burden of corporation tax, various tax reliefs are able to mitigate this and extracting profits via dividends and salaries can lower exposure to income tax and NI for directors and shareholders.

Contact our team about limited companies today.

Entering a partnership

Partnerships offer an alternative for those who want to go into business with other people, but don’t want to set up a limited company.

Running the business and paying tax are responsibilities shared by partners, as are the profits. Partners pay income tax and NI on their individual shares of the profits, and each partner must send separate self-assessment tax returns.

There are 3 main types of partnership:

Business partnership

Business partnerships (also called ‘ordinary’ partnerships) are the simplest way for 2 or more people to go into business together. All partners in a business partnership are personally liable for losses incurred by the business.

Limited partnership

In a limited partnership (LP), debt liability is unequally shared among partners who fall into 1 of 2 categories: general partners and limited partners.

General partners are those with primary responsibility for managing the business and take on personal liability for all of the business’s debts.

Limited partners are only liable for their initial investment in the business.

Limited liability partnership

Limited liability partnerships (LLP) function also allows partners to assume limited liability on unpaid debts; they will not be held personally liable for the business’s debts, only for the money they have put into the business.

LLPs are more complex and cost more to set up than other types of partnership; limited liability means that you will need to maintain accounts and submit them to Companies House and a legally-binding LLP agreement will need to be drawn up by a solicitor.

There are different rules for Scottish partnerships.

Contact us for further information.

Sole trader vs partnership vs limited company

This guide has provided an introductory overview of the main differences between common business structures, and should not be the sole basis of your final decision. Your situation should be professionally assessed and proper expertise should be sought before you decide to change your business’s structure.

Contact us for further information.

How We Can Help You And Your Business – Chartered Accountants In London

It can be notoriously tricky starting up your own business and becoming one of the many self-employed individuals ready to fight their way to the top and stay afloat in today’s rough economical environment. There are many things to consider on top of keeping yourself supplied with the materials you might need, and maintaining your daily workloads evenly, mainly with managing and correctly filing your taxes, and when you’re at your busiest, it can be a real big handful finding the time to crunch your numbers. Thankfully, there is an easy solution for you out there!

Accountants in London will take care of confusing tax returns

If you need London chartered accountants for charities, for personal, or even for forensic reasons, then you’d needn’t look too far to find a place out of the many existing companies that has everything and everyone you need under one roof.

The business world grows faster, more complex, and immensely competitive with each day that goes by. With an unstable environment like that surrounding you at all sides, and at all times of the day, having a team at the ready to respond to your needs and work alongside you to help you and your business succeed at every step is going to be critical to your survival success. Reliable, approachable, and proactive, these accountants will fight to keep you on top.

With a team like that behind you who are ready and able to tackle any corporate assignment from corporate tax planning and minimization to enterprise investment schemes and from share option planning, you’ll be save and insured knowing you’ve picked the right one to help you with your finances.

Alternatively, if you prefer sorting out your own financial issues but just need some free and friendly advice on how to perform a certain task in the correct manner, the world wide web will be a god send for you. Just like everything else you could search for, tap in what sort of advice you’re looking for and you’ll have hundreds of pages of up to date information and advice provided by those companies to help yourself develop on your current finance plans.

It’s as simple as that! So if you’re a business owner who needs the help of professional accountants in London who provide quick, effective solutions to help you business move forward, get on the horn to them now, they’re always just a stones throw away.

Originally published at: https://goo.gl/WBFu35

Property Accountants London |The Personal Approach

Best accountants in London

Tax planning is something many people need to think about now, not just the extremely wealthy. Chartered accountants London will maintain your finances and help you to make money, rather than just save it.
Accountants Quality London

You want an accountant London who has the latest technology, offers the highest professional advice, and has an advisory team that is personal and approachable. They will help you with a financial plan for personal and family wealth building and management,taking the stress of finance away so you can get on with life and enjoy your money.

Between government tax reforms and new regulations there’s just too much for the average person to keep track of. Accountants stay up to speed with all the changes in the legal and financial world to ensure your affairs are always in the best condition. Better still, they’ll know how to make smart tax investments to boost your wealth – particularly while rates are so low for savers.

Accountants in London will take care of confusing tax returns

Accountants will complete all the detail work for you, even down to your self-assessment if that’s giving you a headache. Accountants in London will take care of confusing tax returns and will deal with the Inland Revenue/HMRCon your behalf, so you will have nothing to worry about. An added bonus of getting the pros in is that they will find ways to minimize your tax liability.

Property accountants London are skilled at achieving efficient tax situations for rental income and property investment. They can also help you deal with capital gains tax. The best firms to choose are those with experience in UK resident and non UK domiciled taxpayers. They can advise on how regulations and law changes affect different situations.
comfortable retirement a chartered accountant
As you plan for a comfortable retirement a chartered accountant will give you advice on writing or updating your will, helping you with estate planning and probate. They can set up trusts to protect your beneficiaries from a nasty sting from inheritance tax liabilities, and when the time comes they can act as trustees or executors to ensure your family is taken care of.

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