VAT Returns
VAT is a complex business requirement, which requires accurate book keeping and prompt settlements at the end of every quarter. As director, you are legally responsible to make correct VAT returns.
We can offer advice on whether you should register voluntarily, also if it is advantageous for you to consider Flat Rate, or Cash Accounting Scheme to maintain your cash flow.
Company Formations
We offer consultation on the right structure such as Self Employed, Partnerships, and Limited Companies. We advice which is more suitable to your business goals, and advice on regulations you must adhere to whatever way you chose to start your business.
We can offer registrations, financial statements, profit and loss accounts, and directors report. We also make sure all this is done following applicable legal requirements.
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0790 874 5295
PRACTICE AREAS
Although we cover all Tax related matters, we would like to mention few expertise where we offer advise and consultation.
Corporation Tax
Each company must report to the HMRC when they become liable for Corporation Tax.
The deadline to pay your Corporation Tax is before the deadline to file your company tax return. Generally, you must pay by 9 months and one day after the end of your company’s corporation tax accounting period and file by 12 months after the end of your company’s corporation tax accounting period.
We can support the computation, and filing in the right format to avoid any penalties.
Statutory Accounts
Each year companies need to prepare statutory accounts in compliance with Companies Act, which need to be filed within 9 months post end of financial year.
Small companies can submit abbreviated accounts, however, large companies need to file in electronically in iXBRL format.
We are always ahead of the dead lines, and can offer guidance and prepare accurate accounts for submission before dead lines.
Payroll & PAYE
We can offer comprehensive, and confidential Payroll Services, including customised Pay slips, administration of PAYE. Administration of NI & Statutory Sick Pay, completion of statutory forms including year end returns to be issues to employees, and to submit to HMRC.
Allow us to take care of employment legislation, complex requirements, and resulting penalties if you fail to comply.
Book Keeping
We offer accurate and comprehensive small business book keeping services, and if you want to retain control of Book Keeping, we can always advice you on effective systems which are both, convenient, and compliant to the HMRC requirements.
We also offer management account services to coincide with your VAT quarterly intervals.
Self Assessments
Many tax payers incur penalties failing to submit self assessments on time, even if you are self employed or a director you need to file your self assessment in time. Your profits are taxed as income and you’ll need to pay fixed-rate Class 2 National Insurance contributions (NICs) regardless of any profits you make. You must also account for and pay Class 4 NICs on your profits.
Our aim is to avoid hassles, help you with worry free self assessments in time to avoid any penalties. We can offer expert advice and computations, file in right format within the dead lines, saving you lot of time and penalties.
Statutory Filing
Companies must adhere to the statutory requirements of the Companies Act.
We at Zain Associates, offer comvenient company secretarial services to maintain all statutory requirements, and filing requirements to the Companies House.
Our services also include maintaining your books, registers, preparing tax devidend vouchers, board meeting minutes, and reviews etc freeing you up from the burden of statutory requirements.
Self Employed Tax
Sole Trader Tax
If you are Self employed, Sole trader you need to file Self Assessment. Your profits are taxed as income and you’ll need to pay fixed-rate Class 2 National Insurance contributions (NICs) regardless of any profits you make. You must also account for and pay Class 4 NICs on your profits.
As a Sole Trader you need to remember you are responsible for any Debts you incur while running your business.
As an expert in this area we can advice on how to minimise your tax liability, making sure you are availing all allowances, and reliefs.
