We offer a bespoke service to our clients, as we recognise that what works for one client may not work for the next. With this in mind, in addition to our bespoke service we also offer fixed price packages that assist with the management of your accounting functions and the cash flow of your business. Contact us for details of our fixed packages and how this can complement the different needs of your business
Fill out our enquiry form for more information on how to reach your accounting solution.
Computerised Accountancy Services
HMRC Making Tax Digital (MTD) new regulation currently affects all VAT registered businesses with a turnover of over £85k. This means that digital records must be kept for all transactions, and HMRC recognised software is required for the submission of VAT returns. The requirement for digital record keeping, and submission of tax returns using HMRC recognised software will be rolled out to all businesses over the next few years.
We provide accountancy software that assists with the above requirements, leaving you confidence for the filing of your VAT return, and that your records are stored safely within a digital vault.
We are certified pro advisors for Intuit, providers of QuickBooks Online accountancy software. As such, we are able to provide these services direct to you at discounted rates of up to 25% against a subscription direct from Intuit.
QuickBooks Online allows real time information at any time, be you at your desk or on the go using your mobile. With allowances of more than 1 user, access to your accounts from different locations is available to you, members of your team and your accountant at the same time.
We provide both group and individual training, both at our office and on site at your own office. See our training page for more information on our QuickBooks Online training provisions
Subscribe directly through us for discounted offers.
Receipt Bank
We can offer this service at a discounted rate to that you would receive by subscribing directly to Receipt Bank. Many of our fixed priced package deals include free access to Receipt Bank.
Contact us for more details.
Other supported accounting packages include SAGE and VT Transactions software. We are unable to subscribe these packages to you, but can assist with the training of users on these systems.
Payroll
Regardless of the size of your business, we can assist with your payroll responsibilities.
Where required, we will assist with your registration as an employer with HMRC, set up new employees on your payroll system and process payroll providing details of all payments due.
Along with this, the required submissions to HMRC are made on your behalf, payslips are issued for your employees and detailed reports are provided for your information.
Financial Accounting
The preparation of these statutory accounts reflect the accounting period of a business and are a requirement of Companies House for registered companies. ‘Financial Statements’, ‘Annual Accounts’ and ‘Published Accounts’ are also terms used for Financial Accounts.
These accounts show the profit and loss of your business and gives details of assets and liabilities held at the end of your financial accounting period. Often, details of business activity are included within the accounts.
The legal status of your business will dictate if you are required to produce financial accounts for public view. Although some of our clients do not have a legal requirement to produce these accounts, they find the information presented in this way very useful in viewing how their business is operating financially.
Management Accounting
Management Accounting is the collation of financial information that is related to the activities of the business. Reporting of this information enables management and business owners to use detailed information for both short, and long term, planning and allows reflection on the operation of the business.
Our easy to follow reports, and client review meetings, provide detailed information that include budgets, forecasts and cash flow. These are provided in a timely manner appropriate for your business.
Taxation
Personal, Business Tax
As your HMRC agent we can take the worry out your hands and collate the required information and make submission of your return online to HMRC. Information from these reports are used in our year end annual reviews, in which we meet with you to discuss your return in detail.
Disclosure of all income received by an individual (earned outside of the PAYE system) is to be reported to HMRC annually, and includes income from savings interest, dividends and property rentals. The submission of these are not only a requirement for those carrying out a business as a sole trader or in a partnership, but also include individuals who have received any profits from the sale of a personal asset, who have an annual income of over £100,000 or who are a director.
There are other areas in which an annual tax return may need to be submitted. Don’t worry if you are not currently registered with HMRC but feel you should be. We can take care of registration for you.
For contact from one of our team, fill out the enquiry form on our contacts page providing a description of your enquiry.
Corporation Tax
Corporation tax is for incorporated businesses and relates to the tax liability due to HMRC following the operations of your business. Whilst a period of 12 months following the end of your financial year is given for the submission of the required annual tax return, payment of tax liability is due 9 months and 1 day following the last day of the financial year that you are reporting.
As your HMRC agent we can take the worry out your hands and collate the
required information and make submission of your return online to HMRC.
‘Contact us’ for more details of our fixed packages that include this service
VAT
Businesses with a turnover exceeding the VAT threshold in the past 12 months of their business are required to register and submit VAT tax returns to HMRC. VAT tax liability is due to HMRC if the total amount of VAT charged for sales exceed the total amount of VAT paid for purchases. A VAT refund is issued by HMRC where the total paid for purchases exceeds VAT charged for sales.
There are areas of business that may qualify for fixed VAT rates. This scheme provides a benefit to the business, as this applied rate is used for the calculation of your liability to HMRC and is lower than the standard VAT rate.
Feel free to fill out our enquiry form should you feel you may benefit from this scheme or require further information.
Capital Gains Tax
This tax is charged for any profit made on the disposal of personal assets. These could include antique items, paintings and the sale of a property that is not your main residence.
Fill out our enquiry form with details of your enquiry for more information.
Inheritance Tax
We at TE BAN & Co appreciate the sensitivity of the circumstances that may bring you to be enquiring about Inheritance Tax. We are considerate to this and our service is tailored to your individual need.
Inheritance tax becomes payable when the value of the estate of a person who has died is above the inheritance tax threshold. Benefits of any gifts received from the person who has died, but at a time when they were alive, may also be subject to inheritance tax dependent on the date of the gift.
This complex issue comes at a time when you may be unable to give it the attention required. We meet with you to discuss the best plan of action for you, and throughout our engagement you are supported every step of the way.
Fill out our enquiry form, giving details of your circumstances and one of our team will be in contact with you.
Bookkeeping
Bookkeeping is the recording of the actual transactions relating to the day to day activities of your business, capturing details of all expenditure and income. This can often be a time-consuming task that you could do without. We discuss the needs of your business and together decide on the frequency that your paperwork should be submitted for process by us. We can also arrange collection for those clients with larger quantities.
Within our process, we record all your day to day sales and purchases, provide you with a list of outstanding payments that you are awaiting from your customers and those payments outstanding to your suppliers, and reconcile these records to your bank account.
As well as providing a bookkeeping service to suit your individual requirements, we have packages with our other service areas that will compliment this service.
Company Outsource
If you need help keeping up to date records for your company, we can assist with our services. It may be a small segment of your accounting department, or pulling all of
your functions together, we will help you find ‘your accounting solution’.
We initially meet to discuss your individual needs. Within this meeting, we will discuss
your business requirements, agree on the frequency for collection of paperwork from
your office to ours, and agree a package that will give you the confidence that your
accounts are in good hands.
Company Secretarial Services
Our company secretarial services support you throughout your company’s whole life cycle.
Starting a business from scratch is not easy. We are here to help ease the pressure and assist with all your requirements. We will assist with business plans, helping you with your financial forecasts. We will take care of your company formation and registration with other relevant bodies. We don’t just get you started and leave you, we continue to assist with your secretarial responsibilities as you progress your business.
One never likes to see a business close its doors…..but should this be the end of the company’s journey, we assist with the process of dissolving your company.
You can contact us no matter what point you are at on your company’s timeline. We can assist with your whole company journey, or just a portion of it.
Give a description of your requirements in our enquiry form and one of the team will be in touch with you.
Independent Examination
If you are a charity you may be subject to an independent examination of your accounts depending on your level of income for the financial year. We review the detail of your financial statements for the year, commenting on the preparation in accordance with the relevant sections of the Charity Act.
‘Contact us’ for more details should you feel you may be in need of an examination for your accounts.
We act as agents with HMRC for all our clients. This allows us to communicate and progress tax affairs on your behalf, thus removing the confusion of information received that is not always easy to understand.
Compliance checks from HMRC can be a daunting area for many and anyone can become subject to a tax inspection. Should you be subject to one of these checks, we take the pressure off and will assist you with all areas of your investigation, including direct communications with HMRC
