Accounting Services

Accounting

ABC Accounting Services can prepare your statutory accounts to assist directors and incorporated companies in fulfilling their obligations to report on the financial position of the business. We have the latest accounts software enabling submissions in iXBRL to HMRC.

ABC Accounting Services can set up your new business, whether it be a Sole trader or Limited company or LLP. We will register you with all relevant government bodies, incorporate LTD companies & LLP’s at companies house and provide advice on new business start up’s. We will discuss what legal requirements you have as sole proprietors or Directors, and advise you on the records you need to keep and maintain.

We’re able to deal with books in any format, from the clearly itemised data of the smarter corporate to the ‘bulging envelopes’ of the multi-tasking owner-manager.

Using ABC Accounting Services will allow you more time to do the things for your business that only you can do.

We’re interested in helping you and your business succeed.

Bookkeeping

All businesses are required to keep accurate records for both taxation and VAT (Value Added Tax) purposes, but good bookkeeping practices also benefit the business by
helping you to manage and control the finances of your business, helping with planning for future growth of the business, helping to ensure that your accounts are completed more efficiently .

ABC Accounting Services provide a professional bookkeeping service Using the latest Sage software, ABC Accounting Services can process your bookkeeping and/or payroll data quickly and professionally.

We can calculate your VAT returns, run your purchase and sales ledger, reconcile your bank accounts and run and send statements to your debtors if required.

We can run any reports from the supplied record and prepare electronic copies.

ABC Accounting Services can complete your Self Assesment tax returns, and all goverment returns on-line and direct with HMRC.

Management Accounting

Whether your financial information is handled through computerised accounts packages or by more traditional methods: having the numbers is one thing, interpreting them is another.

ABC Accounting Services can put a set of figures into perspective. We’ll be able to discuss them with you to determine what the management accounts actually say about the state of your business.

We can identify with you the key performance indicators for your business and together decide what other factors are significant.

Payroll

ABC Accounting Services can offer a fully comprehensive RTI & Pensions Auto Enrolment payroll service unique to each client’s individual needs. This can begin with setting up PAYE schemes for new companies as well as the appropriate workplace pension scheme so you fully comply with the new pensions regulations effecting all employers. We will also deal with closure of schemes for clients who have ceased trading.

We deal with all the day-to-day aspects needed to pay your employees and have up-to-date knowledge of Statutory Sick Pay (SSP), Statutory Maternity Pay (SMP) and Statutory Paternity Pay (SSP) Construction Industry Scheme (CIS) Student loans, and Auto enrolment.

All we need is your input every month, week or whatever frequency your staff are paid and we can deal with everything else, including montly and year end returns, filed on -line direct with HMRC.

We will produce payslips, summary sheets and monthly summaries of PAYE and NIC for each employee. Payroll service can be provided on a weekly, monthly or quarterly frequency, as required. We use the very latest Sage software to manage your payroll.

We also have the set-up to provide tailored reports designed specifically to your requirements.

The process is operated in whichever way you prefer and we strive to ensure that the components we handle will be accurate and dealt with in a timely and professional manner, and submitted live to HMRC using Real Time Information (RTI).

Construction Industry

ABC Accounting Services have in-depth experience on dealing with this complex scheme.

If you are self-employed or a Limited company, HMRC will register you as a subcontractor under the CIS scheme and they will set you up to receive payments ‘under deduction’. This means contractors must make a deduction of tax at 20 per cent (30 per cent for unverified subcontractors) from the labour element of your invoices and pay it over to HMRC.

Services we provide for contractors:

• Register you with HMRC as a contractor
• Verify your subcontractors with HMRC
• Ensure you pay your subcontractors correctly within the scheme
• Supply deduction statements to the subcontractors
• Keep your records in good order and supply HMRC with monthly returns

Services we provide for subcontractors:

• Determine your status as a subcontractor or employee, (or both) and register you with HMRC accordingly
• Verify you with HMRC on behalf of your contractor
• Manage and organise your business records
• Prepare your end of year self assessment tax return and calculate your tax liability/ refund where applicable