Our extensive range of services.
You can rest assured we will aid you through every step of the way.
Year End Accounts Preparation
Year-end accounts are a statutory requirement whether you are a Sole Trader, Partnership, Limited Company, LLP & C.I.C. We ensure that you remain compliant with HMRC and Companies House meeting all key filing dates. For Limited Companies, we will prepare your Corporation Tax Return in good time to meet the statutory payment date.
Self Assessment Tax Returns
We offer a wide range of Tax Return services from investment income, to Sole Traders, Partnerships, Rental, Capital Gains, and Director Returns. Tax is calculated in advance allowing you to budget for your tax payments with a clear view of what Payments on Account HMRC will be expecting in the following year. With the prospect of M.T.D (Making Tax Digital) rolling out in 2019 it is increasingly important to make sure your tax affairs are brought up to date and correct before MTD arrives.
VAT Returns are completed automatically on behalf of our clients who choose our Bookkeeping Service. We can review your data and prepare a VAT Return on your behalf based on the information you provide to us. A Schedule can either be returned to you for your own filing once we have reviewed it or we can file the return on your behalf.
We offer a full Payroll service to all our clients who fall within the requirement to operate a payroll scheme. This can vary from employing a nanny to part-time or full-time staff within an un-incorporated and incorporated business. Our Payroll team ensure that you remain compliant with the National Minimum / Living Wage, Statutory Payments, and general HR Queries. RTI Submissions are sent on time in the required format directly to HMRC. Our service operates seamlessly with the requirements of the CIS Industry so, should you fall under the scope of CIS this can be operated under the payroll service.
Whether you are a Contractor or Sub-Contractor it is your responsibility to ensure the correct tax treatment is applied and deducted against your earnings. If you are a contractor who engages sub-contractors under the scope CIS then it is your responsibility to ensure tax is deducted and paid to HMRC in conjunction with a monthly CIS Return. We can offer a complete CIS Package delivered to you by our Payroll Team.
For Landlords, we can prepare accounts and can advise you on the expenses and loan interest that is allowable against Rents Received. If you are thinking of disposing of a property we would be pleased to give you an estimate on the likely Capital Gains Tax that will be due and if there is any way to reduce the amount payable.
Having HM Revenue and Customs conduct an investigation on your personal or business affairs can be lengthy, stressful, and costly – no one is immune, or exempt from the tax authorities taking a more detailed look at your accounts or tax returns. It is essential that we work alongside you throughout any enquiry which experience shows can last for a considerable amount of time.
We work closely with you and HMRC so that any enquiry is brought to a speedy conclusion and to minimise any tax, interest or penalties that may occur should HMRC determine there are further liabilities.
In recent years HMRC have developed a team of tax inspectors whose primary role is to raise additional tax. HMRC tax team are there to discover where income or gains have been understated.
The professional fees for attending to all aspects of the work – discussing this with you, responding to HMRC’s enquires and keeping you informed regarding likely outcomes can be substantial, so our Fee Protection service is an important aspect of ensuring you do not have to concern yourselves with our fees.
To find out more about our Fee Protection service and how the small annual premium could protect you and your business from unwelcome additional costs contact email@example.com for further information and advice.
Bookkeeping & Management
Day to day running of your business can be stressful and time consuming. Here at Dury & Co we offer tailored bookkeeping and account management packages to ensure you are provided with Real time financial information, allowing you to concentrate on other important aspects within your business. If you are VAT Registered, this information enables us to complete your VAT Return. We will discuss your individual requirements with you and suggest the appropriate accounting procedures to ensure your accounts are kept fully up-to-date and compliant with Statutory Regulations.
We can also provide regular Management Accounts to keep you informed on key areas such as Cashflow, Credit Control, Profitability, and budgeting.
Budgeting & Cashflow
We will work alongside you to produce budget reports and cash flows to assist you should you be looking to obtain Credit or a Business Loan. Our services include working with the underwriter, or loan company to ensure you achieve the best results.
We provide the most current and relevant tax advice for businesses and individuals to allow you to plan your affairs before the taxable event takes place. We may be able to suggest a more tax efficient way to handle the taxable event.
Free Initial Consultation
Your first meeting with us can be free of charge for the first 30 minutes, if you decide to use our services we are quite happy to enter into an arrangement whereby you pay us monthly.
We offer a personalised quote to every client we see, every client has needs different to other clients and we will tailor our package accordingly.
New Start Up Advice
There are tax advantages to be considered when starting up a new business. We will be able to advise you whether it is preferable for you to be a Sole Trader, Partnership, Limited Company, or LLP.
Making Tax Digital
Making Tax Digital is intended to bring the UK tax system into the 21st century by providing businesses with a modern, streamlined system to keep their tax records and provide information to HM Revenue & Customs (HMRC). The timetable for rolling Making Tax Digital has been amended to ensure that small businesses have more time to prepare for the changes.
The first to be affected will be small businesses and individuals with a turnover above the VAT threshold of £85,000, who will be required to keep digital records for VAT purposes from April 2019. Making Tax Digital is intended to help you better keep track of how much tax you owe – or how much you are due back – throughout the financial year.
Replacing paper-based bookkeeping with digital tax accounts will let you check the information HMRC holds about you is 100% correct. Making Tax Digital’s new reporting function will allow HMRC will to look at your tax information almost immediately, reducing human error from data input. HMRC anticipates taxpayers will better understand how much tax is owed within the digital tax account – much like online banking
HMRC announced that it would be amending the original timeline for rolling out Making Tax Digital to give businesses more time to prepare for the changes once it completes a pilot scheme that began in April 2017:
Late 2017 – HMRC begins small-scale private testing of Making Tax Digital
Spring 2018 – HMRC starts a wider, live pilot of Making Tax Digital
Spring 2019 – Businesses with a turnover above the VAT threshold (currently £85,000) will have to keep digital records and only for VAT purposes
2020 – Further roll out of Making Tax Digital is expected to affect small businesses under the VAT threshold.