It is essential that a new business starts with the right advice. It is vital that a proprietor of a new business is aware of all the issues that it will face in the early days and planning for this gives a business a much greater chance of success. All of the following will have to be considered :-
These are the main issues and if they are not handled correctly the business can soon find itself in difficulty and possibly in a penalty situation if statutory deadlines are not met.
We can help you in all of these matters and if we are involved at the early stages we can advise on what we consider to be the best course of action.
For many businesses the keeping of records can be a nightmare. We will first of all advise on the simplest method of record keeping and if required we can offer you a bookkeeping service be it manual or computerised.
We will agree with you how often the records would need to be written up and provide the appropriate staff at an agreed price.
Requests for business plans are a common occurrence today , be it for a new venture, a need for additional finance or to support the existing borrowing facilities.
We have considerable experience of the preparation of business plans and cash flow forecasts and our involvement may be the difference between success or failure.
We operate a full bureau payroll service which can be specifically tailored to your needs. We will calculate the wages on a weekly or monthly basis and provide the appropriate payslips and also calculate the payments due to the Inland Revenue each month. All the statutory requirements will be dealt with including statutory sick pay and maternity pay and the working family tax credit . All the annual returns to the Inland Revenue will also be completed.
We operate our own stocktaking department for the licensed trade. We take and value stocks as required and also offer a more detailed stock control service by way of full computerised reports (normally on a monthly basis) This will enable a business to monitor wastage levels and ensure that pilfering is not taking place.
Value added tax is a very complex tax and it is essential that any business receives the correct advice as the penalties for non compliance can be very high. We will if requested prepare your VAT returns for you and deal with all compliance and planning issues.
We offer a full accounts preparation service for sole traders, partnerships and limited companies. We will produce these accounts from your business records.
We are registered as auditors with the Association of Chartered Certified Accountants . We can offer a full audit service for all private companies and also other organisations who each have their own auditing requirements .
We have extensive experience of auditing businesses governed by the Industrial and Provident & Friendly Society Acts such as Royal British Legion Clubs and similar types of organisation.
For many businesses the requirement of management accounts is an essential tool in the running of the business. We will discuss your requirements with you and produce accounts specifically tailored to suit your business needs. The production of these accounts should highlight critical performance areas where business decisions will need to be made.
Self Assessment Tax Returns
The advent of self assessment has brought a major change in an individual's tax affairs. For many the term self assessment meant that they could no longer use an accountant to complete the form and actually had to complete the return themselves. This was a terrifying prospect and fortunately the Inland Revenue has not dispensed with the tax return preparation services of accountants.
We prepare tax returns for not only sole traders and partnerships but literally anyone from a individual in receipt of just a small pension to a much larger return involving a substantial investment portfolio. No return is too small or large.
With the penalty provisions in place it is essential that every return is treated with care.
We deal in all matters in relation to corporate taxation . With corporate tax self assessment now in place there are more detailed statutory returns to be made . We will handle all of these requirements and ensure that all deadlines are met and penalty provisions are avoided.
In early 1993 a government minister stated in Parliament "any taxpayer is entitled to order his affairs within the law to reduce to a minimum the amount of tax which he is likely to pay."
With that in mind we offer a full tax planning service to minimise tax liabilities. For the most complex technical issues we have arrangements with some of the largest accountancy practices to the provide the appropriate technical advice.
Unfortunately due to the advent of self assessment and now corporate self assessment there is a greater risk of your business being investigated . We have considerable experience in dealing with the Inland Revenue and can help protect yourself and your business from a over zealous tax inspector and ensure that you are correctly represented. There are also many penalties levied for non compliance with a request by an inspector for records or information.
We can assist you in forming a new company be it an off the shelf company for which we can offer a same day service or registering a new company in the name of your choice which will usually take 7 to 10 days. We will complete all of the necessary forms and also advise on the amount of share capital to be issued. If required our offices can be used as the registered office of the company.
We also offer a full company secretarial service.
For a standard package you will find that our charges are extremely competitive.
Douglas Fairless Partnership
is the trading name of Douglas Fairless Partnership Limited
Registered in England No. 3852275
Registered as Auditors and authorised to conduct Investment Business by the Association of Chartered Certified Accountants
Registered with the Chartered Institute of Taxation as a firm of Chartered Tax Advisers