1. General Bookkeeping
Efficient and accurate bookkeeping is the foundation of any successful business. I offer comprehensive bookkeeping services, including:
- Recording Transactions: I meticulously record all financial transactions, ensuring that your books are always up to date.
- Bank Reconciliation: I reconcile your bank statements with your records to ensure accuracy and identify any discrepancies.
- Expense Tracking: I keep a detailed record of all business expenses, helping you manage your cash flow effectively.
- VAT Returns: If your business is VAT registered, I will prepare and submit accurate VAT returns on your behalf, ensuring compliance with HMRC regulations.
- C.I.S. preparation and filing with HMRC
Small business bookkeeping
Small business bookkeeping is a crucial function that involves tracking, recording, and analysing all financial transactions to ensure the financial health and stability of your company. From monitoring cash flow and reconciling bank statements to preparing financial reports, bookkeeping encompasses a wide range of important tasks. Staying on top of your bookkeeping helps you make smart, informed decisions about budgeting, spending, and investing in your business’s growth. Accurate and timely bookkeeping is also essential for tax purposes, as it ensures you keep proper records and comply with all relevant laws and regulations. While some small businesses can handle the books themselves, enlisting in the help of a skilled bookkeeping professional can save you time, reduce errors, and give you greater visibility into your company’s financial standing. With expert small business bookkeeping you’ll have reliable, well-organized financial records and reports that give you vital insights into your cash flow, profitability, and opportunities for growth.
2. Tax Preparation and Filing
Tax season can be stressful, but it doesn’t have to be. I offer comprehensive tax preparation and filing services, including:
- Self-Assessment Tax Returns: I prepare and file your self-assessment tax returns accurately and on time, helping you avoid penalties and ensuring you only pay what you owe.
- Sole/Trader and Partnerships.
Construction Industry Scheme
The Construction Industry Scheme (CIS) is an essential tax deduction framework established by HMRC to oversee and manage payments made from contractors to subcontractors within the construction industry. This scheme aims to streamline tax collection and prevent tax evasion in the sector. Under CIS, contractors are required to deduct money from subcontractors’ payments and pass it to HMRC. The deductions serve as advance payments and pass it to HMRC. As well as this, The deductions serve as advance payments towards the subcontractor’s tax and National Insurance. Registering for CIS is compulsory for contractors in the construction industry unless they meet certain exemptions. Subcontractors must register with HMRC and be verified by contractors before receiving payments. The verification process ensures subcontractors and deductions are taken. Failing to adhere to CIS regulations can result in hefty penalties from HMRC. For construction businesses, navigating CIS compliance can be complex and time-consuming. That’s where professional bookkeeping services specializing in CIS come in – to handle the intricacies, keep accurate records, and ensure all HMRC obligations are met. With expert CIS management, contractors can focus on their core operations with confidence, knowing their business is fully compliant.
3. Financial Reporting
Understanding your business’s financial health is crucial for making informed decisions. I offer a range of financial reporting services, including:
- Profit and Loss Statements: I prepare detailed profit and loss statements, giving you a clear picture of your business’s profitability.
- Balance Sheets: I provide accurate balance sheets, helping you understand your business’s financial position at any given time.
- Custom Reports: I can create custom financial reports tailored to your specific needs, providing insights that are relevant to your business goals.
4. Accounts Receivable and Payable Management
Keeping track of what you owe and what’s owed to you is vital for maintaining a healthy cash flow. I offer complete management of accounts receivable and payable, including:
- Invoicing: I generate and send out invoices promptly, ensuring timely payments from your clients.
- Debtor Tracking: I monitor outstanding invoices and follow up on late payments, helping you maintain a steady cash flow.
- Bill Payments: I manage your accounts payable, ensuring that all bills are paid on time and helping you avoid late fees.
- Aging Reports: I provide aging reports that give you a clear view of your receivables and payables, helping you manage your business finances more effectively.
Caroline helped with my annual CIS return which resulted in a tax rebate. Very satisfied.
