LINKS
Gov.uk
HMRC
VAT
Sign in or register
Government gateway ID
Personal Tax Account

What you need to know

You can use your personal tax account to:

  • check your Income Tax estimate and tax code

  • fill in, send and view a personal tax return

  • claim a tax refund

  • check and manage your tax credits

  • check your State Pension

  • track tax forms that you’ve submitted online

  • check or update your Marriage Allowance

  • tell HMRC about a change of address

  • check or update benefits you get from work, for example company car details and medical insurance

  • find your National Insurance number

Compliance and Business Support Services

 

COMPLIANCE SERVICES

 

We provide a range of compliance services to support all aspects of business administration. We can help you by making sure accounts are prepared in the correct format, statutory books and other company secretarial records are kept up-to-date and that all statutory returns are prepared. Our experienced team will relieve you of the regulatory burden and leave you more time to concentrate on your core business activities. In short, we will make sure everything is in the right format, in the right place and at the right time.

Our range of compliance services includes:

 

  • statutory audits

  • annual accounts

  • specialist/niche audit and accounts

  • company secretarial services

  • payroll procedures including Real Time Information and Pensions Auto Enrolment compliance

  • tax returns and

  • Grant claims.

 

SUPPORT SERVICES

 

The combination of your business knowledge and our support services will help your business to grow and increase profitability.

 

Management accounts and information
 

Obtaining regular reliable management information is vital to the continued success of any business. Let us work closely with you to get to know your business so we can make suggestions to help improve profits or to develop and grow your business. We can prepare your monthly or quarterly management accounts to ensure you always have reliable and accurate information on which to base your business decisions.


Payroll
 

Running a payroll can be time consuming and complicated and divert resources from the core activities of your business. With the implementation of Real Time Information, HMRC require information generally on or before the date of payment to the employee. We can help by installing payroll software and training your staff. Outsourcing this activity also helps relieve the pressure and we can offer cost-effective solutions.  We are able to provide the complete service, whatever the size or complexity of your business, or simply provide support when needed.

                                                                    

Bookkeeping
 

We can help you with all your general bookkeeping requirements, either at your business premises or at our office. Maybe you need help writing up the books or just want us to add the finishing touches to the information in order to create your own management information. If you do not employ a bookkeeper then we can take up the role or help you recruit the right person for your business.

 

Business planning and forecasts

 

Every business should plan ahead to ensure success but daily business pressures often conspire to delay the strategic planning process. Financial forecasts are a crucial part of any business plan and we will ensure these are both meaningful and robust.

 

Liaising with banks and institutions

 

We offer support when liaising with banks and other financial institutions. Drawing on our wealth of experience we can support our clients through this often daunting experience.

 


 

CONSULTANCY

 

Your professional and personal goals are central to our consulting services; we take the time to get to know you better so we can offer the best advice.

Management consultancy

Our management consultancy service can review your credit control, stock control, budgeting and financial reporting systems and allow you to take full control of these key areas of your business. We can also help you address specific problem areas in your business such as gross profit, cost control and stock valuation.

Effective management information will allow you to seize opportunities when they arise or identify problems quickly so you can take effective corrective action.

SYSTEMS ADVICE

Information technology

Information technology (IT) is one of the key resources available to every business to achieve its short and long-term objectives.

Using the knowledge gained from our own systems and those designed for other clients, our in-house IT team are able to advise on IT related matters with first-hand experience. We can install software, provide training and help you to obtain the best from your chosen system.

Our expertise enables a complete range of services to be offered, including:

  • software selection

  • hardware selection

  • installation and training

  • management reporting solutions and

  • payroll systems

 

If you are spending too much time writing up books, typing invoices and chasing debts we help to take control by computerising your accounts system. We can help you to make the best use of IT resource to produce financial information that is accurate and appropriate for running your business effectively. With the correct accounting software you will save hours of hard work leaving you more time to deal with the more important areas of the business.

In short, whether you are investing in new technology, reviewing existing systems or have simply outgrown your current resource, we can help.

Taxation

 

As tax advisers, our objective is to work closely with you to ensure you pay the minimum tax required by law. We will help you to understand the tax implications of your actions, in order that you can plan ahead and conduct your affairs in a tax efficient way.

 

Corporation tax services

 

Under Corporation Tax Self Assessment (CTSA), the legal responsibility for correctly calculating the corporation tax liability falls on business owners. We understand the issues facing owner-managed businesses and can prepare tax returns in a timely and efficient manner. We will also calculate your company's tax liability and assist with the calculation of any quarterly instalment payments due.

 

The increased reporting obligations, investigation policies on the part of the tax authorities and harsher penalties for non-compliance mean that your time and resources can be taken up with tax administration. We will help to minimise corporate tax exposure and relieve the administrative burden of compliance with current tax legislation. Effective corporate tax planning can also result in significant improvements in your bottom line.

 

 

Personal tax services (including sole-traders and partnerships)

 

We are specialists in income tax, capital gains tax and inheritance tax.

 

Self Assessment

 

We have the expertise and software to take the headache out of the form filling and compliance aspect of Self Assessment. We can provide you with practical advice on personal tax and the planning opportunities available to you. Over recent years HMRC have increased the penalties for failing to file a return on time and for errors. We can complete tax returns, calculate any tax liability and advise you on exactly when to make payments and how much to pay.

Personal tax planning

Everyone who is subject to taxation needs professional advice and support if they are to optimise their tax position and ensure they meet the compliance requirements. Our specialist tax team can provide you with year-round advice on all aspects of personal taxation.

 

Estate planning

Few of us like to think about dying; however the relevant legislation requires us to plan well in advance. This means making the necessary provisions now. There are many tax opportunities available and the earlier arrangements are made, the greater the chance of taking full advantage of our complicated tax system.

 

It is important when planning to transfer an estate that adequate provision is made and getting the right balance requires considerable skill and foresight – along with a detailed knowledge of the current tax regime.  We provide a discreet comprehensive estate planning service that includes:

  • help with planning and reviewing a will

  • making full use of exemptions and lower tax rates on lifetime transfers

  • optimising lifetime transfers between family members

  • transferring agricultural or business property

  • transferring assets into trust

  • arranging adequate life assurance to cover potential inheritance tax liabilities.

 

Trusts

 

We also have expertise in dealing with trusts; a very tax efficient way to set aside assets for future beneficiaries outside the inheritance tax net. We can advise on the most suitable type of trust to fulfil your wishes, assist in setting up the trust and provide the full range of accounting services required for trust management.
 

VAT

 

Ever changing regulations and the growing demands of HMRC mean VAT compliance can be a difficult administrative process.  We can help to ensure that you comply with the regulations and that overpayments are not made. To help you manage this complex area, we provide an efficient, cost-effective VAT service, which includes:

 

  • assistance with VAT registration

  • advice on VAT planning and administration

  • use of the most appropriate scheme

  • VAT control and reconciliation

  • help with completing VAT returns

  • planning to minimise future problems with HMRC

  • negotiating with HMRC in disputes and representing you at VAT tribunals if necessary.

 

HMRC Investigations and Enquiries

 

Being the subject of a tax investigation or enquiry by HMRC can be a stressful and worrying experience. We have a wealth of experience in dealing with HMRC investigations, whether they are enquiries into an individual’s Tax Return, more detailed enquiries into a company’s affairs or employer-related investigations into PAYE and P11d compliance. If you are the subject of an investigation, we can provide expert help and support.

 

Tax protection

 

With the increased risk of such investigations it may be worth considering taking out our annual insurance policy to protect you and your business from unexpected costs; an investigation will undoubtedly result in additional accountancy work being undertaken. The amount of work will depend upon the complexity of the case but the cost could be substantial.

 

Hint: Your tax protection provider may have a unique offering and may have prepared text to include on your website?

 

Investments and Pensions

 

In today’s complicated and strictly regulated financial services market, providing independent financial advice requires specialist knowledge. We make use of our wide range of professional contacts to ensure you have a suitable independent adviser and we work with them to provide you with impartial advice in areas such as:

  • Pension schemes

  • Life assurance

  • Critical illness cover

  • Private medical insurance and care plans

  • Individual savings accounts and

  • Investments.

Brealey Foster & Co is not authorised under the Financial Services and Markets Act 2000 but we are able in certain circumstances to offer a limited range of investment services to clients because we are members of the (Institute of Chartered Accountants in England and Wales.  We can provide these investment services if they are an incidental part of the professional services we have been engaged to provide.

  • Facebook
  • Twitter
  • YouTube
  • Tumblr Social Icon
  • Instagram

© 2019 by Peter Brealey. Proudly created with Wix.com