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Audit
If you are a limited company and your annual turnover
is in excess of £5.6 million then it is a
legal requirement to have your annual statutory
accounts audited. Even if your turnover is below
£5.6 million then there could be occasions
when you are still legally required to have an audit.
You can also have an annual audit voluntarily. Our approach to an audit assignment is not based
purely on helping a business fulfill its statutory
obligations. An audit gives us an ideal opportunity
look inside a business to see what makes it tick.
We can then use this knowledge to work with the
Company's management team to help them get the most
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Bookkeeping
We can relieve you
and your business of a significant burden by taking
care of all your bookkeeping and accounting needs.
This ranges from making use of our inhouse bookkeeping
bureau to the preparation of your annual accounts.
We will treat every business individually so that
we can tailor our approach to your requirements.
Besides the core bookkeeping,
we can also maintain your VAT records, prepare your
payroll and take on ad hoc projects to free up valuable
time for your staff.
We believe that our high level
of IT literacy can help improve our efficiency and
help our clients to set-up their accounting systems
to be efficient and effective. We are Sage Accountants
Club Members and can supply software and hardware. |
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Business
planning
Every business must plan ahead in order to
ensure success, but it is too easy to succumb to the
daily pressures of work and delay or ignore strategic
planning. The result of poor planning is often rushed
and misinformed decisions, over/under capacity, inefficiency
and missed opportunities.
Every business owner needs to invest time in developing
a long-term plan, starting with what you want to
achieve from your investment and what your reasons
for being in business are, and then developing a
plan to help achieve these objectives.
We are well placed to help you develop these plans
and have a considerable pool of experience and expertise
to draw on. The financial aspects are usually the
backbone to any business plan and you need to ensure
that this aspect has been adequately dealt with
in your plan.
Contact us today for a strategic planning review. |
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Business start-up
Most people who start up in business do
so because they have a good business proposition,
not because they are experts in the financial aspects
of running a business. These factors can often be
quite daunting to the entrepreneur and this is where
we can help by evaluating your ideas and helping
you develop them into a feasible business.
We can also help you:
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decide
on the most suitable structure for your business
(i.e. sole trader, partnership or limited company)
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prepare
a business plan, cashflow projections, budgets
and trading forecasts to prove the financial
viability of your ideas and demonstrate this
to the bank / potential investors
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assess
your finance requirements and access the most
appropriate source of finance
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help
you establish relationships with banks, solicitors,
etc via our well established network of contacts
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carry out registration procedures with Companies
House, Inland Revenue or Customs and Excise
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set
up an internal accounting system which complies
with statutory requirements
Call
us for a free initial consultation to find out how
we can help your ideas become reality. |
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Business valuation
One of our key objectives is to help our
clients increase the value of their business. Each
year we can carry out a valuation of your business
using software developed by the Added Value Network.
We will produce a detailed report showing the current
value of the business and ideas on how you can maximise
its worth. |
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Company
secretarial
When running a hectic business you cannot afford
to use valuable time making sure you are complying
with the Companies Act. However you do need to be
aware how this legislation affects your company and
its directors. We can help by carrying out the company
secretarial duties for you. Our services include:
- company formations
- preparation and filing
of statutory returns
- preparation of all documentation
(such as minutes and resolutions)
- maintenance of statutory
books (share register, minute book, etc)
- general advice on company
law
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Financial
performance review
We will carry out a financial performance
review of your business. This will be in the form
of a detailed report which includes:
- graphs and charts illustrating
how your business has performed this year
- ratio analysis to highlight
areas of strength and weakness
- detailed commentary advising
you which areas of the business can be improved
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Management accounts
The most important part of our compliance services
is the preparation of periodic management accounts.
Monitoring and controlling the financial performance
of your business is of paramount importance and
regular management information is vital to the continued
success of your business. We can either carry out
this function for you or help you set-up internal
systems to generate the information.
We will also take this service one step further
by interpreting these figures for you and making
suggestions to help you improve your profits or
to help your business grow. |
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Payroll
Running your own payroll can be time consuming
and complicated, particularly with the ever increasing
complexity of taxation and employment legislation.
There is an increasing burden on business to comply
with these issues and non-compliance can lead to substantial
penalties.
We can prepare payrolls for businesses with 2
to 200 staff.
Our service is comprehensive and confidential and
includes:
- computer generated payslips
- administration of PAYE, national insurance,
statutory sick pay, statutory maternity pay, etc
- completion of statutory forms (including year
end returns)
- summaries and analysis of staff costs
- administration of incentive schemes, bonuses
and ex-gratia termination payments.
Even if you only have a few employees, you will make
savings by engaging us to administer your payroll. |
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Statutory
accounts
If you are a limited company then you are
required to prepare accounts that must be filed with
Companies House in a statutory format. We can help
you by preparing your statutory accounts and filing
them with Companies House for you.
As registered auditors we are also able to conduct other audit and assurance work, such as Law Society, RICS and grant claim reports.
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Taxation
Despite political pledges to the contrary, the complexities
of taxation systems in the UK have increased significantly
in recent years and penalties introduced for non
compliance have become a serious concern.
Our experienced personnel can provide comprehensive
assistance with planning and compliance in the following
areas:
- Personal Tax
- Business Tax
- Value Added Tax
- Capital Gains Tax
- Inheritance Tax
- Payroll Services
Our aim is to protect our clients from the compliance
burdens of taxation systems and by reacting quickly
to legislation changes, to maximise the use of tax
saving opportunities.
We believe that we have a great deal to offer the
business community and individual tax payers in
the region, so why not talk to us about your needs.
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All
the Things you Need to do Every Year
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We offer a full range of compliance
services........ all the things you
need to do every year. These are our
traditional accountancy services.
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All
the Things you REALLY Need to do Every
Year!
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We also have a range of new consultancy
services designed to help small and
medium sized firms grow and become more
profitable, click
here >
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OnTrack
Review
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We will gladly carry out an OnTrack review
for you at no extra charge. The OnTrack
review process contains 6 mini-reviews
designed to make sure you and your business
are on track to achieve everything you
have set out to do. The 6 mini-reviews
are:
- a growth review
- a taxability review
- a wealthbuilder review
- an accounting systems review
- a finance options review
- an exit planning review
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| Accounting
Records Quality Report |
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We want to help you get the most out of
your accounting systems. So, we will prepare
a report setting out any weaknesses, the
consequences and our suggestions on how
to improve them. And, the better your
accounting systems - the lower your accountancy
fees! |
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| Benchmarking
Report |
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One of the most powerful management tools
is benchmarking - this is where we compare
the performance of your business against
other businesses within your industry
sector.
This will tell you how you are performing,
in which areas you excel and those areas
where there is room for improvement.
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| I.T.
Services |
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I.T. has become an integral part of the
business world and Gilchrist Tash is no
exception to this. Our business is totally
computerised and our staff are I.T. trained
and literate. The knowledge gained from
developing our systems enables our staff
to advise our clients on I.T. related
matters from first hand experience.
We are members of the Sage Accountants
Club and provide software, training
and support to Sage Instant Accounting,
Sage Line 50 and Sage Payroll.
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Company
Car Tax Planning
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Whether to have a company car or not is
the most common question that we get asked.
The next most common question is how to
finance the purchase of the car. It is
an area for confusion, particularly with
the recent changes in the basis of taxation
of company cars.
We will gladly carry out a planning
exercise each time you consider
buying a new vehicle to ensure you are
aware of the most appropriate method
of finance and the minimisation of tax
liabilities.
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Flexibility
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