There are several things it involves:
- Further tax advice EG Director Pension
- Advice around technology and general business advice
- Recommendations for other professional services and suppliers where appropriate.
- Consideration of HMRC’s “Maxing Tax Digital”
- The latest rules and changes made by the government in annual or interim budgets.
- Regular webinars and useful website/ social media content
As well as this…
1 – We have to analyse and categorise the transactions into income and expense categories.
2 – We have to conduct a bank reconciliation.
3 – The figures need to be uploaded to our accounting software to enable submission to companies house
4 – Consideration of any additional expenses we can claim EG Home office, mobile phone, etc
5 – How this fits in with your other business activities. EG is it tax efficient to operate a payroll and what level of dividends should there be
6 – Discuss with you whether any family members can help with tax saving and work within the business.
7 – Finalise both the profit and loss plus the balance sheet.
8 – Calculate the corporation tax accounting for depreciation and so on.
9 – Articulate and summarise all this for you.
10 – Submit once approved