Hexham 01434 604031

Gateshead 0191 4619300

Corporate and personal tax planning

As part of your tax planning team we fully embrace the principle that you are entitled to plan your tax affairs in a way that makes sure you do not pay more tax than you have to.

Both Stephen and Paul have many years experience (possibly more than they would like to admit to) ensuring our clients’ tax affairs are organised in the most efficient and cost effective way possible.

We offer a wide range of solutions to any taxation issues you may have and would welcome the opportunity to discuss how we can help.

Audit & Assurance

In many cases clients have a statutory or commercial need for audited accounts or other assurance work. We have a highly trained partner led team who perform this work in the most targeted and cost effective manner possible.

We take a risk based approach to our audits so that we do not do work that is unnecessary, whilst still maintaining the highest standards expected of a professional firm.

Limited company, partnership, charity and sole trader accounts

We offer a complete accounts preparation service for all clients, irrespective of business size or complexity. Our clients range from sub-contractors through to sole traders, partnerships, clubs, pension schemes, charities and limited companies.

All annual accounts are discussed with our clients to ensure they are maximising the potential of their business and obtaining the best possible tax planning and profit extraction advice.

If you would like to hear more about this area we would welcome the opportunity to discuss how we can help.

R&D Taxation Incentives

During the last few years there has been a huge growth in the opportunities for companies to make claims for enhanced expenditure under the Research and Development tax incentive scheme.

These claims often along with a reduction in the current years tax charge, result in a repayment of corporation tax and are therefore seen by some clients as a vital part of their business funding.

Both Ian and Paul have a great deal of experience in this area, having generated millions of pounds of tax savings for clients in sectors as diverse as travel agents, heating engineers and vehicle repairers.

It is fair to say that many accountants are not maximising their clients potential savings in this area and we would welcome the opportunity to discuss how we can help.

Making Tax Digital

The government have announced a complete change to the way businesses currently report their income and expenditure to HMRC.

Under the new system there will be a quarterly online reporting of income and expenses and then a further annual declaration making a minimum of five submissions to HMRC each year.

This compares to the current system of one submission with an annual tax return.

The new system is currently expected to start in April 2019, although the start date has already been amended by the government a number of times.

It is vital that businesses plan for these changes well in advance and we would welcome the opportunity to discuss how we can help with your record keeping and reporting requirements.

Self Assessment Tax Returns

The UK taxation system is known as the “Longest in the World” in terms of number of pages of tax legislation.

For individuals, this means that there are an increasing number of taxes or reliefs that need to be considered each year as part of self assessment.

We have a dedicated partner led personal tax team who can help you navigate the complex requirements of the UK taxation system, ensuring your affairs are organised in the most tax efficient and cost effective manner.

Our team offers a full and comprehensive personal tax compliance and tax planning service advising on every aspect of your tax needs.

If you would like to know more we would welcome the opportunity to discuss how we can help.

Management Accounts

It is vital for any business that they have accurate and timely information in order to make the correct decisions.

If this is not the case then a wrong decision, or perhaps more dangerously, no decision may be made.

We strongly believe that clients can benefit from monthly or quarterly management accounts, the savings generated from up to date and relevant business information can far outweigh the costs.

We have a highly skilled team of staff who are very experienced in producing management accounts using many software packages (predominantly Sage and Xero), and just as importantly ensuring that these figures are presented in a way that is meaningful to the business owners.

If you would like to know more we would welcome the opportunity to discuss how we can help.

Payroll

With the introduction of RTI and auto enrolment, along with the increasing complexity of the UK tax system, payroll has become a more complicated area than ever before.

Our dedicated payroll department, headed up by Ross, use the latest software to ensure your employees receive the right pay at the right time and that the correct taxes are reported and paid to HRMC.

We offer a comprehensive service including auto enrolment set up, CIS returns and attachment of earnings and would welcome the opportunity to discuss how we can help.

Business Plans and Projections

During many stages of a business’s life there may be a requirement for a business plan and projections.

This may be at the start of the business when you are trying to turn an idea into workable business proposal, during periods of funding, or during periods of rapid growth or decline.

We have highly skilled team of staff who are very experienced in both producing business plans and perhaps more importantly having the commercial knowledge to ensure that they make sense in the real world.

When producing these plans a close involvement with the business owners is vital, we often find that the process doesn’t just produce a set of numbers, but also ensures the business owners critically question the assumptions that the proposals are based upon.

If you would like to know more we would welcome the opportunity to discuss how we can help.

Business Sales and Acquisitions

One of the most complicated and involved areas of accountancy can be the sale or acquisition of a business.

Ensuring that the correct tax structure and ownership structure is in place is often key to ensuring a smooth transaction with the minimum of direct and indirect taxes for all parties.

Both Stephen and Mark have a vast amount of experience in advising on these areas and would welcome the opportunity to discuss how we can make what is a very complex area, as straightforward for the client as possible.

VAT

VAT is possibly the most complicated single tax in the UK tax system.

The rules are far from straight forward and this is often an area when mistakes can be very costly.

We have access to a number of highly skilled VAT specialists who can offer advice on any VAT issue, ensuring the client is fully compliant with all relevant legislation.

We also offer a review service, if you currently have any issues in dispute with HRMC.

If you would like to know more we would welcome the opportunity to discuss how we can help.

Bookkeeping

With the many pressures inherent in running a business, it is sometimes the case that bookkeeping is an area which our clients prefer to be done by their accountants. They do this in the knowledge that the records will be maintained to the best professional standards and that all relevant rules and regulations will be adhered to.

We have a highly skilled team of staff who are very experienced in bookkeeping using many software packages (predominantly Sage and Xero).

If you would like to know more we would welcome the opportunity to discuss how we can help.

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