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There are no hidden extras or charges and a fixed budget can be agreed annually, with fees for any special work agreed in advance.

Our Business Services

If you are looking for a team of reliable, approachable, and proactive accountants who will do more than just respond to your needs but work alongside you to help you succeed you have come to the right place.

Today’s business environment is fast moving, complex, and highly competitive. Business owners need the support of professionals who provide on-time, effective solutions to help their business move forward. We aim to provide such a service, helping start-ups and small business clients to grow.

Contact Us today to discuss how we can help you stay ahead of the game in corporate tax planning.

We begin by discussing your specific requirements with you and then we set up appropriate accounting procedures and controls and ensure your accounts are kept fully up-to-date and in compliance with statutory regulations.

But we don’t stop there. We can also provide you with regular management accounts to keep you informed on essential areas such as:

• Cashflow
• Profitability
• Performance ratios
• Customer activity
• Credit control
• Budget comparisons

In addition we can also relieve your staff of the burden of preparing:

• Payroll administration
• VAT returns
• Bank reconciliations
• Annual accounts

It is often said that, “Failing to plan is planning to fail.”

As a business owner you have no doubt been reminded on more than one occasion of the importance of business planning. And no doubt you agree that planning is important.

And yet in all probability you rarely seem to find the time to sit down and develop strategic plans but end up flying by the seat of your pants, trusting your intuitions and relying on snap judgments rather than adhering to a pre-arranged strategy.

Not that we would deprecate such intuitions. Experience has taught us that it is precisely this ‘sixth sense’ that many business owners and managers seem to possess that is the driving force behind entrepreneurship – and we have learned to take it seriously.

But the planning is important. Without sound analysis, clear projections, and well thought out contingencies, businesses tend to become hostages to fortune.

Proactive management is replaced by reactive coping, and instead of following a well thought-out plan, owners and managers are reduced to responding to unforeseen events, or trying to catch up on missed opportunities.

This is why we encourage our clients to schedule regular planning sessions. We can help you:

• Formulate and implement long-term strategic goals
• Set concrete operational objectives
• Monitor performance and adjust plans accordingly

We want you to focus on what you do best – building your business – while we provide all the necessary background support.

Here are just a few of the ways we can help you get started:

• Preparing a comprehensive business plan
• Determining the best structure of your business: sole trader, partnership, limited liability partnership, or limited company
• Where appropriate, assisting with company formation and company secretarial duties
• Registering your new business with the HMRC
• Establishing relationships with banks, insurers, etc
• Preparing cashflow projections and assessing finance needs
• Preparing and submitting finance applications
• General bookkeeping, VAT, and payroll duties
• Tax planning
• Management accounts
• Annual accounts and (where necessary) annual audit

The last thing you need as a busy business owner is to use up valuable time and resources making sure you are complying with the Companies Act.

Moreover, with company legislation changing at the rate it does, you need to be sure you are fully aware of how the changes affect you and your fellow directors.

We can give you complete peace of mind in this area by carrying out your company secretarial duties for you. Our services include:

• Company formations
• Preparation and filing of statutory returns
• Preparation of all documentation related to minutes and resolutions
• Maintenance of statutory books
• General advice on company law

Finance is the lifeblood of any business. At every stage in its growth a business needs to maintain a balance between a positive cashflow and adequate working capital on the one hand and a reasonable return on investment on the other.

Directors’ drawings, shareholder dividends, and debt repayments need to be carefully orchestrated to ensure that the smooth running and continued growth of the business are not jeopardised.

Moreover, while proper provision needs to be made for possible external changes such as economic downturns or fluctuations in exchange rates or interest rates, and internal changes such as temporary or permanent loss of key employees, it is equally important that any finance raised by the business is are made to work for the business.

All these matters require a keen, professional eye to develop and constantly adjust an appropriate and flexible finance structure for your company.

Then there are the special finance requirements for business expansion, mergers and acquisitions, MBOs, and MBIs. Preparing business plans and finance applications and identifying and approaching appropriate lending sources require expertise and professional insight if the best possible results are to be achieved.

Finally there are the financial implications of ensuring a suitable exit route for the current business owners.

These are all matters on which our corporate finance experts are qualified to advise and guide your business.

We can conduct a full tax review of your business and determine the most efficient tax structure for you. Very often such reviews result in considerable tax savings, which show up as real improvements in your bottom line.

As with any other area of taxation, it is essential to be proactive and plan ahead when dealing with corporation tax.

In this way you can:

• Minimise your corporation tax liabilities
• Make the most of any available reliefs, tax losses and deferment opportunities
• Ensure you meet all your CTSA deadlines and file your returns correctly, thereby avoiding any potential penalties

In addition to helping you with your corporate tax planning we can also represent you in any communication with the tax authorities.

Why take up valuable time and resources dealing with corporation tax when we can do it for you?

If you are considering expanding your business through a merger or acquisition, we strongly recommend you seek appropriate professional advice and assistance to ensure your interests are best represented in any subsequent transaction.

Why not contact our M&A team? They can advise on and help with:

• Strategic planning to determine suitable acquisition criteria
• Identifying suitable candidates companies
• Conducting feasibility studies
• Developing a negotiating strategy
• Performing financial and operational due diligence
• Preparing the necessary financial projections
• Identifying potential finance sources
• Preparing and presenting finance applications
• Assisting with negotiations
• Assisting with post-acquisition integration

It is equally important to seek professional help and advice when disposing of a business.

We can help with valuing the assets, preparing the business for sale, finding suitable purchasers, and negotiating the sale.

Above all, we can help you time the disposal so as to minimise your tax exposure.

Administering your payroll can be time consuming and burdensome, diverting energy and resources from the core activities of your business. And the task is made all the more difficult by the growing complexity of taxation and employment legislation and the accompanying regime of penalties for non-compliance.

We have dedicated staff who can relieve you of this burden by providing a comprehensive and confidential payroll service, including:

• Customised payslips
• Administration of PAYE, national insurance, statutory sick pay, statutory maternity pay, etc
• Completion of statutory forms, including year end returns, to issue to your employees and submit to HMRC
• Summaries and analyses of staff costs
• Administration of incentive schemes, bonuses, and ex-gratia and termination payments
• Administration of pension schemes

Even if you have only a few employees, you will make savings by engaging us to administer your payroll.

VAT can be the bane of everyone affected by it.

The complex regime of regulations imposes a tremendous administrative burden on businesses.

With the rate being so high, mistakes in calculating VAT can be costly – and the rigid system of penalties and interest charges for mistakes and the late submission of returns adds to that burden.

Our cost-effective VAT compliance and planning services can relieve you of this burden.

Our team of VAT professionals will help to keep your VAT affairs in order, make sure you are collecting the right amounts for each transaction, and ensure that you make payments and file returns correctly and on time.

In addition to providing a comprehensive bookkeeping and VAT accounting service, we can also advise on and help with:

• The pros and cons of voluntary registration
• The timing of compulsory registration
• Extracting maximum benefit from the rules on de-registration
• Partial exemption
• Timing and delaying VAT payments
• Flat rate VAT schemes
• VAT on imports and exports
• VAT control visits by Customs and Excise

The very thought of an HMRC enquiry can be a daunting and all too regular occurrence nowadays but, in the event that you are chosen for investigation, we can help you at every step of the process.

We will demonstrate to HMRC that you are paying the correct amount of tax and assist with the investigative procedures. As you will appreciate this all takes time, expense, and flexibility on our behalf. All of which means that an HMRC enquiry can be a greatly time consuming and costly exercise.

For extra peace of mind, to avoid potential unexpected expenses arising from a possible tax or VAT enquiry, we offer our Tax Investigation Service. Just as you take out cover to protect against the eventuality of a possible motoring accident or potential damage to the contents of your home or business, this service protects you from the costs that arise in dealing with your HMRC enquiry.

In partnership with CCH Fee Protection, who are market leaders in this specialist field, our comprehensive service includes access to advice lines in the complex areas of Employment Law and Business Safety.

Our Personal Services

Because we establish a one-to-one relationship with each client we are able to offer timely, individual advice on how to improve your business or personal finances.

As leading edge Chartered Accountants we have developed innovative client-focused services that provide not only all the reliable background support you would expect from a professional firm but also forward-thinking advice on how to improve your situation.

When you have spent a whole lifetime building up your personal wealth, you want to think that upon your death your estate will pass into the hands of your chosen beneficiaries and not into the hands of the Taxman.

And yet, all too often we meet clients who are shocked at how much of their inheritance is taken from them before they even see it! At present rates, the Taxman can take up to 40% of your estate! Yes almost half its value!

Inheritance tax (IHT) used to be referred to as a ‘voluntary tax’ for the very wealthy, but with the recent dramatic increases in property values without a corresponding increase in the IHT threshold, many more estates have come within of the Taxman’s reach.

This makes estate planning all the more necessary – and all the more urgent.

There are a number of ways to reduce the potential tax liability on your estate, but they all involve careful planning – often over a long period.
Lifetime gifts, the judicious use of trusts, and care with transfer of agricultural and business property can all help to reduce IHT liability.

It is also possible to mitigate potential inheritance tax liabilities by arranging adequate life assurance cover.

We can help you with your estate planning, including succession planning and business exit strategies.

We can also help with the drafting and updating of your will, and where appropriate, act as trustees or executors.

We offer a specialist personal tax planning service tailored to your individual needs that includes:

• Advice on minimising tax liability for all personal taxes, including:
o Income tax
o Capital gains tax (CGT)
o Inheritance tax (IHT)
o Non-domiciliary taxes
• Completion and filing of relevant returns
• Advice on what payments are due and when
• Advice on trusts and estates

We can offer you personal tax planning advice from our experienced team.

He or she will help you optimise your tax position and ensure you meet all the compliance requirements.

Clients who benefit from this service attest to the value of an independent adviser who can look at their situation within the larger picture.

Your personal Tax Adviser will also be available to advise on issues such as:

• How best to handle benefits such as company cars and accommodation
• Whether directors should be paid by salary or dividend
• How to minimise CGT liability on disposal of assets
• How to optimise your tax position when living or working abroad

Decisions made in any of these areas are likely to affect one or more of the others, which is why we recommend working within an overall plan.

Everyone hopes to maintain the same standard of living in retirement as they presently enjoy while working, but to achieve this requires considerable forward planning. Here are some important questions you need to ask yourself:

Exit strategies

If you are in business, the first thing you need to consider is your exit strategy. Will you withdraw from the business, leaving it for the next generation, or will you hope to sell the business? If you intend to hand the business over, do you have a workable succession plan? If you intend to sell, how will you value the business, find a suitable buyer, etc.? Are you aware of all the tax implications of the timing of disposals?

We can help you answer all these questions and recommend solutions tailored to your particular needs.

Self assessment can be a time consuming and often confusing business for busy individuals.

And judging by the hundreds of thousands of taxpayers who are penalised by HMRC each year it can also be very costly if:

• Deadlines are missed
• Incorrect returns are delivered
• Appropriate records are not retained or presented

We aim to spare you all these headaches and free up your valuable time by offering a comprehensive Individual Self Assessment service, including:

• Liaising with your bank, building society, stockbrokers etc to gather the relevant data for your annual returns
• Calculating your tax liability
• Completing and filing your tax return on your behalf
• Advising you when various payments are due and how much to pay
• Advising on appropriate record retention
• Introducing you to any relevant tax saving ideas
• Representing you in the event of your being selected for investigation by HMRC

Ready to talk?

Kleintax is based in London, Dorset and East Midlands offering all the benefits of an organisation based first and foremost on relationships. To find out more about our full list of accountancy services, please contact us.

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