Business Start-up Advice

We would be delighted to discuss your current and future business plans with you. Starting your own business is an exciting but often daunting time. There are a number of factors to take in to consideration to ensure success. Our initial free consultation allows us to develop an early understanding of you and your business, in turn enabling us to provide the best advice to suit your needs. By building close working relationships from the outset we can work more effectively for you, saving you money on your accountancy spend and helping to make your business as profitable as possible.

Bookkeeping to Final Accounts

Bookkeeping can be a time-consuming process, but one which must be undertaken. Through our bookkeeping health check review we suggest ways to set up your systems allowing you to operate this function as and when it suits you, not the other way around, thus freeing up your time to focus on the core of your business. It also helps to provide sufficient accurate information in a format which enables us to prepare final accounts in the most efficient way possible, thereby reducing our time and costs.

Sole Trader, Partnership and Company Accounts

There are many issues to consider when deciding on the best vehicle for your business, ranging from limited liability matters to the availability of any trading losses incurred in the early part of the businesses life. Ever changing tax rules and rates play a crucial part in this decision making process and could turn out to be very costly if not addressed early. We will spend time getting to know you and your business activities enabling us to advise on the best vehicle for you.

Corporate and Personal Tax Returns

Tax compliance is a critical area of any business. It is just as important to file accurate and complete tax returns as it is to file returns on time. Our technical knowledge together with diarised systems allows us to assist you to achieve both.

Close working relationships enable us to highlight the different tax options available. Our goal is to achieve the most tax efficient extraction of profits for you, by taking into account simple matters such as whether to use a limited company, whether your car / mobile phone contracts should be held personally, to more client specific matters such as tax relief for childcare.

‚ÄčSalary Calculations with Payslips

We provide accurate, complete and timely salary calculations, including starter and leaver forms, weekly and / or monthly payslips, tax payment advice on amounts and due dates, as well as the preparation and submission of end of year forms including P35, P14 and P60.

VAT

Ensuring all your business activities are compliant with VAT legislation is crucial. At McElhinney & Co we can provide training to help you to prepare and submit your own business VAT returns, or alternatively we would happily prepare and submit these on your behalf. In addition, we provide an annual review as part of our accounts preparation process ensuring your business calculations are accurate and complete and in-line with any recent technical VAT changes.

HM Revenue & Customs have a number of schemes in place designed to ease the administration of VAT. We would gladly work with you to determine whether any of these schemes could be of benefit to your business, taking into account potential VAT savings as well as any additional costs of running such schemes.

CIS Tax and Accounts

We will assist you to ensure your business activities are compliant with HM Revenue & Customs' construction industry scheme rules for both contractors and sub-contractors.

‚ÄčTailoring your business procedures to incorporate subcontractor verifications will assist with the preparation and submission of accurate CIS tax returns and payment calculations.