Total Accounting Network is licensed, regulated and supervised by the AAT, which is one of the largest of the professional accounting bodies. Therefore you have the reassurance of knowing business is conducted to the highest standards of professionalism and ethics. We offer a variety of services at reasonable cost including;
You are obliged to submit tax return to HMRC if you are running a business. There are however often other circumstances where it will be necessary to do so, and in addition you may well be able to claim for work related expenses if your employer does not reimburse these. Please contact us for advice.
Accounts are standard legal documents that follow strict format rules. Preparation is a step by step process, and they must show a true and fair view of the results (profit or loss) made by the business. We will produce your fully compliant accounts for submission to HMRC and any other purposes that may be required – for example your bank or loan provider.
With our depth of knowledge and experience in dealing with small business we are well place to advise on taxation matters. Circumstances differ so we will suggest the most effective structure, and ensure that all the allowable expenses and deductions are taken into account, to ensure you pay no more tax than necessary.
Payroll has changed dramatically in recent years, with the advent of RTI and now Auto-Enrolment. Employers now also need to ensure they comply with Auto-Enrolment legislation, as penalties are being imposed where there’s a failure to do so. We look after the Payroll and Auto-Enrolment obligations for those clients employing staff, who benefit from our knowledge and experience in this area.
Bookkeeping is fundamental to the production of accurate and useful accounts, and is part of the services provided. In the long term HMRC want businesses to submit a quarterly return of income and expenditure, so it becomes vital to ensure your record keeping is fully geared up to enable compliance. We are able to help and advise to ensure legislative compliance.
We are very familiar with HMRC and the way they work. In dealing with HMRC on your behalf, as an agent we have access the UK-wide team of Agent Account Managers (AAMs), which allows us to deal with the department speedily and more effectively.
The income you receive as rent is taxable, and has to be declared. However, you can minimise your tax liability by deducting certain allowable expenses. Rules are constantly changing and whether you receive income from a normal residential let or a Furnished Holiday Let, we will guide you through the maze and minimise your liability. New legislation restricts the tax relief on mortgage interest, and may well impact on your affairs. We will be happy to advise and review the effect on your own situation
Where appropriate we will deal with the registration process, advise on the best VAT scheme for your business, and can complete your returns. We use functionally compatible software in line with the new making tax digital (MTD) rules. Should it no longer be appropriate to be registered we will also handle the de-registration process.