WHO WE HELP?

We help a number of clients including : Sole traders , Partnerships, LLPs, Limited Companies , Company Directors , the Employed & Self- employed , Landlords , Builders & Contractors , those Buying and Selling businesses, CIS contracors and more.

Sole traders

Sole traders– Any business that is owned and controlled by one person, although they may employ workers, such as a newsagent’s shop, Specialist service like hairdressers, plumbers or photographers, builders are also sole traders. Unlike a Limited Company ,Sole traders do not have a separate legal existence. The owner is personally liable for the firm’s debts and other liabilities.

LLPs

A limited liability partnership (LLP) is a partnership in which some or all partners have limited liabilities. The LLP consists elements of both partnerships and corporations. In an LLP, one partner is not responsible or liable for another partner’s misconduct or negligence.

Partnerships

 In a partnership, the partners personally share responsibility for running the business. This includes:
• any losses made by the business
• prompt settlement of bills for things you buy for your business, like stock or equipment
• Partners share the business’s profits and losses , and each partner pays tax on their share of the profits.
• A limited company counts as a ‘legal person’ (Legal entity) and can also be a partner.
• A ‘nominated partner’ is responsible for managing the partnership’s tax returns and keeping business records.

Limited Companies

 Limited, is a suffix that follows the name of a company, indicating it is a private limited company. This is an incorporation available under British, Irish and some Commonwealth countries’ laws. In a limited company, shareholders’ liability is limited to the extent of the capital they originally invested.

We offer a bespoke service for Medium and established Companies with a turnover of £500k upwards, to suit your business needs.

Company Directors

A director is a person from a group of managers who leads or supervises a particular area of a company, program, or project. If a company have more than one Director, each of them will have different business functions or roles (e.g. Managing director ).Many small companies has only one director.

Landlords

 Has to prepare a Statement of Income and Expenses for the rent collected by the Land Lord from his tenants .Rental income is the amount of money collected by a landlord from a tenant or group of tenants for using a particular space- eg his house or flat.

Buying and Selling businesses.

You don’t have to start a business from scratch to be an entrepreneur. In fact, buying a business might be a better decision. Creating, selling, and buying businesses are all part of the entrepreneur’s journey.
We can assist you in working out how viable a business is if you want to buy one. We can work out the cash flow, the profitability of the business considering the past performance records .Also we will provide you with the necessary assistance when you want to sell your business as a going concern either for upgrading your business activities or for purpose of your retirement.

Both Employed and self employed

Self-employed is a situation in which an individual works for himself instead of working for an employer who pays a salary or a wage. A self-employed individual earns his income through conducting profitable operations from a trade or business that he operates directly.

Builders and Contractors

 Person or group of persons that contracts to build and supervises building operations. We can assist persons running small or medium sized building operation in their accounting , VAT, Paye ,SATR matters.

CIS contractors

The Construction Industry Scheme (CIS) is a scheme created by HM Revenue & Customs (HMRC) for tax from contractors and subcontractors. The scheme is designed to minimize tax evasion within the construction industry.
CIS applies to all contractors and subcontractors, whether sole traders, partnerships, or companies, who are working within the mainstream construction industry. In addition, many non-construction businesses or organisations, must also comply with CIS. The type of work that falls under the term ‘construction’ includes groundwork, general building (such as bricklaying, plastering, and roofing), alterations, repairs and demolition. If in doubt about whether or not a specific activity falls under CIS, it is recommended to refer to HMRC’s guidance.
CIS rules apply to all payments made by a contractor to a subcontractor under a construction contract, but does not apply to employees. Failure to comply with the Scheme may result in expensive penalties.

Registration
All contractors and subcontractors must register with the Scheme before any construction starts. Contractors can register using HMRC’s online tax registration service. They will need to provide standard information such as the company name, contact details, and the date of the first payday. Partnerships and limited companies will need to supply additional information. HMRC will then set up a contractor scheme for the business.

Landlords

A landlord is the owner of a house, apartment, condominium, land or real estate which is rented or leased to an individual or business, who is called a tenant.
• Landlord and Tenant. An association between two individuals arising from an agreement by which one individual occupies the other’s real property with permission, subject to a rental fee mutually agreed. The agreement between a landlord and a tenant is called a lease or rental agreement.

Employed individuals

 An individual who works part-time or full-time under a contract of employment, whether oral or written, express or implied, and has recognized rights and duties. In general terms a worker.

Buying and Selling businesses.

You don’t have to start a business from scratch to be an entrepreneur. In fact, buying a business might be a better decision. Creating, selling, and buying businesses are all part of the entrepreneur’s journey.
We can assist you in working out how viable a business is if you want to buy one. We can work out the cash flow, the profitability of the business considering the past performance records .Also we will provide you with the necessary assistance when you want to sell your business as a going concern either for upgrading your business activities or for purpose of your retirement.

Selling your business

The website ‘small business.co.uk’ provides helpful guides and tips on how to sell or buy a business in the UK and how to prepare your business for sale, covering contracts and valuations. Additionally we will assist you to achieve your target prices and ownership at competitive prices.

Builders and Contractors

 Person or group of persons that contracts to build and supervises building operations. We can assist persons running small or medium sized building operation in their accounting , VAT, Paye ,SATR matters.

FSB members-Federation of Small Business

 FSB offers their members a wide range of vital business services including advice, financial expertise, support and a powerful voice in government. Their aim is to help smaller businesses achieve their ambitions. They are not formed to make profit. FSB is led by a team of active members, and exist to serve the business owners of the UK