- Payroll – advising on remuneration structures, ensuring benefits have been calculated correctly and reported appropriately.
- VAT – Identifying if any of the specialist VAT schemes are appropriate to adopt, and ensuring any special rules that apply are implemented. VAT rules are complex and sometimes specialist in this area need to be consulted.
- Cash flow and Asset Management – Working with the client to prepare forecasts of income and expenditure. Warning of legislation changes that will potentially result in higher future liabilities – ie pension auto enrolment. Reviewing capital expenditure requirements and when would be a good time to do so.
- Financial Accounts – normally prepared annually for use in tax returns.
- Property rentals – maintaining income and expenditure details for use in tax returns.
- Capital gains tax calculations – when assets are disposed of.
- Tax return preparation and submission for individuals, partnerships and small companies.
Taxation involves knowing everything about the client, so that decisions can be made as to which rules can or have to be applied. Looking at the interaction of all interests, often high lights opportunities for non aggressive tax planning. External specialists will be consulted for assistance when required. Timing of events is important, for example the same transaction may be taxed differently between, married, separated and divorced couples.
Company Secretarial Duties –
- Filing of annual returns
- Filing company accounts
- Updating share holder and office holder records
- Setting up companies.