Annual Accounts
We're here to help you strengthen your business.
Our Accounting Service enables you to increase your interaction with financial information and progress your business.
Management Accounts can be produced to communicate the financial situation either as an overview of the business or analysed at a deeper level e.g. by department, product line or location etc.
Regarding the annual audit and preparation of annual accounts, we work hard to turn this necessary cost into a profitable process. We regularly review your financial and management systems to avoid wastage and identify opportunities to improve results.
Our Accounting Service includes:
- Accounts and any additional reporting requirements prepared to agreed timescales/deadlines
- Preparation of end of year accounts
- Production of financial statements and abbreviated accounts where required for Companies House
- Tax analysis to ensure tax liability is minimised in-line with current criteria
- Analysis/commentary in regards to the financial situation of the business and identification of any opportunities or threats
- Establish Key Performance Indicators to bench-mark performance against
- Audits as required
We provide the following key services:
- Accounts Receivable, dealing with the invoicing of customers and accounting of payments
- Accounts Payable, dealing with Payment of suppliers & keeping track of all financial transactions
- General Ledger - This enables you to understand your business capital along with other expenses
- Budgeting - Creation of a budget to forecast and track the monthly/quarterly/annual expenses
- Cash Flow - Management of bank accounts to ensure availability of funds where required
- Reporting - Based on requirements, regular reports can be updated and sent at set intervals
- Bank Reconciliation - Ensuring your bank statements are signed-off and reconciled with your accounts
Our competitive pricing structure means you could receive considerably more service without increasing your costs. See below to find out more:
Companies House Submissions I Management Accounts I VAT I Corporation Tax I Personal Tax I Strategic Planning I Management Control Planning I Tax Planning I KPI Management I Cash Flow Management I Bespoke Management Reporting I Cloud Implementation Services I KPI Coaching Services I Operational Control Services
Companies House Submissions
We can take care of the following:
✓ Preparation and submission of annual accounts
✓ Preparation and submission of Company tax returns
✓ Preparation and submission of Partnership tax returns
✓ Preparation and submission of Personal tax returns
✓ Reclaiming of tax deducted on earnings
✓ Tax related advice on various aspects of business
✓ Advice and assistance on registering with HMRC
Management Accounts
Our Accounting Service enables you to increase your interaction with financial information and progress your business.
Management Accounts can be produced to communicate the financial situation either as an overview of the business or analysed at a deeper level e.g. by department, product line or location etc.
Regarding the annual audit and preparation of annual accounts, we work hard to turn this necessary cost into a profitable process. We regularly review your financial and management systems to avoid wastage and identify opportunities to improve results.
VAT Returns
In terms of business taxation, VAT can be an area where problems arise throughout the year and not just at year end. Our service enables you to benefit from our expertise and ensure your requirements are met as you go.
Based on your business type and income/expenditure we can work out which VAT scheme will work the best for your business (standard scheme, flat rate, cash scheme and second hand margin scheme).
All businesses exceeding the revenue guidelines must register for VAT and any business can register voluntarily prior to that level so we can help calculate the impact on your business in that situation. We can help with:
Recommendation for most suitable VAT scheme
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Enrolment
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Planning
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VAT returns
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Dispute management with HM Revenue & Customs
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Attendance for VAT inspections
Corporation Tax
We can take care of:
- Preparation and submission of annual accounts
- Preparation and submission of Company tax returns
- Preparation and submission of Partnership tax returns
- Preparation and submission of Personal tax returns
- Reclaiming of tax deducted on earnings
- Tax related advice on various aspects of business
- Advice and assistance on registering with HMRC
Personal Tax
We can take care of:
- Preparation and submission of Partnership tax returns
- Preparation and submission of Personal tax returns
- Reclaiming of tax deducted on earnings
- Tax related advice on various aspects of business
- Advice and assistance on registering with HMRC
Strategic Planning
At My Controller we have helped many businesses at key inflection points such as driving growth plans and controlling cash flow in tighter times. As such, we understand what it takes to own and run successful businesses.
We've seen first-hand how important planning is and whether you need to raise finance or drive business improvement, we can help! If you are looking to raise finance via a bank then you will require a robust business plan which demonstrates to the decision maker that you have the necessary business controls in place and ultimately, are in a very strong position to meet all repayments due.
If the motivation is focused on business improvement then the motivation for the plan would be slightly different depending on the requirement, possibly; improving growth, profitability and/or cash retention. In this case, your plan may focus more strongly on people or processes within your organisation.
As part of our approach (and a result of our working experience) we will often analyse the sales cycle and sales management with our clients. First we will conduct a review of the business and evaluate any elements which may inhibit growth, profitability or cash retention. Secondly we will ascertain the return on investment of each key expenditure area throughout the business. We will then establish a plan which focuses on improving the control/analysis of spend and create a schedule to track this as required (daily/weekly/monthly/quarterly) dependent upon the sales cycle.
We have played a major role in improving various businesses in recent years. If you would like to discuss your requirements further, please get in touch.
Management Control Planning
Keeping control of your core management functions is vital to your success. We can help implement the right structure and dashboard for your business to keep you on track and driving forward. Find out more about our Pathway to Profit.
Tax Planning
We will help you:
- Take a pro-active approach to tax planning and ensure that your tax position is optimised.
- Consider these key aspects; VAT, Capital gains tax, Inheritance tax, Compliance Areas (Corporation tax, returns, Partnership tax returns, Self-Assessment),
- Avoid unnecessary penalties
- Establish the right structure:
- Sole Trader / Partnership v Limited Company?
- Group v Associated
- Dividend distribution
- Plan for VAT:
- When to sign up for VAT
- What is the most suitable VAT scheme to join
- cash v accruals
- other schemes?
- VAT planning – timing of large purchases
- Complete your VAT return
- avoiding any penalties
- Corporation Tax:
- Do you think about opportunities to Optimise your tax position?
- Do you optimise Capital Allowances
- Annual Investment Allowance (£200k)
- Profit Extraction
- Dividends – Husband & Wife (Arctic Systems Case)
- Pensions – Advantageous
- Is R&D Relief Available?
- Do you qualify for R&D expenditure?
- What is your exit Strategy?
- Are you planning for Entrepreneurs Relief?
- EIS - Seed Enterprise Investment Scheme (SEIS)
- Will you pass it on?
- E.g. If you own your business premises in a trading company, it is exempt from IHT
- Gift Share Capital & Defer Capital Gains Tax (Gift Relief)
KPI Management
We will help you:
- Establish which metrics to track regularly within your business
- Help create a dashboard for the business to help make informed decisions
- Establish the right frequency to monitor key controls
Cash Flow Management
We will help you:
- Fixed Asset Investments
- How much?
- Timing & VAT
- Return
- "Managing in the Current”
- Current Ratio
- Quick Ratio
- Does your Balance Sheet add “Value” to your business?
- Do you plan how you invest your free cash?
- Do you invest in yourself?
Bespoke Management Reporting
Based on your plans and goals we can help create a set of Management Accounts and report which help you make informed decisions. This will be entirely unique to you and your business given it's all about your goals but we will use our vast experience to help you focus on the right details at the right time.
KPI Coaching Services
Key Performance Indicators (KPIs) are vital to any successful strategy and they should be set and made accessible throughout the business, adapted by function and role to be relevant. We can help coach key members of the team on how to make this work for everyone in the company, not just the management as it's all about collective success.
Cloud Implementation Services
Moving data to the cloud has a lot of benefits but it also has risk attached to it. We can help you evaluate the right scenario to support the growth of the business by ensuring the chosen route is evaluated for security, access, accuracy and overall potential impact for your business.
Operational Control Services
We believe so much in the word control that it's in our brand. It's vital to keep control and be in control of your business as the minute you lose that, there's typically one likely outcome and it's not good. Keeping control of operations is vital for your profitability and we are experts at helping clients evaluate this throughout the business and retain control ongoing.
