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tax-returns

Tax Returns

We are here to relieve you and your staff from the troubles and burdens of in-house bookkeeping and accounting, including your annual accounts.

We work very closely with our clients in order to gain a full understanding of your business and how you run it.  We have the capacity and flexibility to then tailor our approach to your needs in order to deliver the most appropriate service we can for you.

One of the most important aspects of this service is the preparation of management accounts in Essex.  We see these as vital and integral to the continuity and success of your business.  Again, we discuss your requirements with you and provide you with tailored information and constructive advice on a regular basis.

payroll services

Payroll Services Essex & London

Paying your staff accurately and regularly in accordance with the latest payroll legislation could be a tedious and time consuming task. But it’s extremely important to get this right otherwise you could be looking at upset employees, over-payments or HMRC fines.

We will use our expertise and knowledge to deal with every aspect of payroll for you – from setting up systems to suit your business to PAYE and NI deductions, so that you can spend more time on developing and growing your business.

Our Payroll services include:

  •  Latest advice on setting up a payroll system suitable to your business.
  •  Payslip preparation.
  • Completing your end of year returns.
  • Dealing with PAYE and National Insurance deductions.
  • Dedicated account manager for all your payroll queries.
  • Auto enrolment processing and compliance
accounts-preparation

Accounts Preparation

We are here to relieve you and your staff from the troubles and burdens of in-house bookkeeping and accounting, including your annual accounts.

We work very closely with our clients in order to gain a full understanding of your business and how you run it.  We have the capacity and flexibility to then tailor our approach to your needs in order to deliver the most appropriate service we can for you.

One of the most important aspects of this service is the preparation of management accounts.  We see these as vital and integral to the continuity and success of your business.  Again, we discuss your requirements with you and provide you with tailored information and constructive advice on a regular basis.

AUTO ENROLLMENT

Auto Enrollment

Legal obligation to provide manage and contribute to a pension scheme for all eligible staff lies with the business and practise owner. Even if your business employs only one member of staff you still need to check if auto enrolment applies to you or not.

It is the employer’s responsibility to ensure that all eligible staff are auto enrolled in a scheme by the date issued to them by the Pension Regulator.

If you already have a pension scheme for your staff its worth confirming with your pension provider if you can use it for auto enrolment.

Failure to comply might lead to an immediate fine of £400 which can escalate to daily fines of anything from £50-£10,000, depending on the number of staff you employ.

JR Accounts can

  • Assist you in identifying the employees that fall under this scheme.
  • Help you in choosing a scheme suitable to your business.
  • Ensure that your Payroll is in line with Auto Enrolment.
  • Submit your declaration of compliance to the Pensions Regulator.
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VAT

Value added tax is not an easy subject to talk around.  Our aim is to make as simple as possible for you to handle and understand.  It is seen as one of the most complex tax areas to be imposed on businesses. The VAT “goalposts” are constantly being moved as well as the ever changing stream of regulatory details. HMRC is constantly demanding more and more from businesses which add more stress on top of what you already have to manage.  It is our expertise and expertly trained eyes that help you make sure you do not miss anything and do not fall foul of the regulations.  We make sure your do not pay the chancellor any more than you need to.
Our efficient and cost-effective VAT service includes:

•    Assistance with VAT registration
•    Advice on VAT planning and administration
•    VAT control and reconciliation
•    Help with completing VAT returns
•    Processes put in place to avoid future issues with HMRC
•    Representing you at VAT tribunals.

corporate tax planning

Corporate Tax & Planning

Corporation tax is a major part of your trading costs.  It is the increased reporting obligations, thorough investigation policies imposed by the tax authorities and tough penalties for non-compliance that means that a lot of time and resource is taken up collecting revenue for the Government.

We can assist you and your business by completing and filing business tax returns as well as preparing and submitting end-of-year payroll Tax Returns.  By using us for your corporate tax and planning, means we can act as intermediaries for any disputes with the tax authorities.

As part of this service, we can help you with determining the most tax effective structure for your business by taking full advantage of tax opportunities and reliefs.  It is our job to make sure that you achieve the best capital or revenue tax treatment as well as reducing your tax on disposals and maximising relief on acquisitions.  There are also many tax opportunities specific to certain industries and our in-house expertise to help you tackle these.

company secretarial

Company Secretarial

The company secretarial function for any business is often seen as an arduous task normally overseen by a family member or senior employee as Company Secretary.  This can be met with issues as the designated Company Secretary may not have a full understanding of the duties they are required to undertake.

With our in-house expertise, we can ensure that statuary deadlines are met; we will handle all your statutory obligations including the filing of accounts, annual returns as well as changes of directors and secretaries.  As part of the service, manage all the paperwork required for the payment of dividends and dealing with share transfers.
Our full company secretarial services include:

•    Company formations
•    Preparation and electronic filing of statutory returns
•    Preparation of all documentation related to minutes and resolutions
•    Maintenance and storage of statutory books.

corporate finance uk

Corporate Finance

Any strategic growth or finding the funding for acquisitions is rarely possible by solely relying on your cash-flow.  It doesn’t matter whether you have a start-up business or are well established, it is essential that you have the necessary finance to achieve your objectives.

We can help you with everything you need by helping you decide on the most appropriate sources of finance.  We will look through all the best options suited and help you make those difficult decisions.  As part of our corporate finance service, we help prepare the necessary business plans and forecasts.  Because of our expertise, it means we are best positioned to present your proposals to your chosen financial source.  This also means that we can arrange any disposal, M&A or MBO/MBI.

We have an extensive network that is here to help you and introduce you to the correct people to help you get where you want to be.

business plan and adequate finance

Business Start Up

The essentials of starting a new business are always based on a realistic business plan and adequate finance.

Most new business owners when starting-up will no doubt start with a foundation of a solid business proposition and plenty of entrepreneurial spirit.  We help look after the legal and financial aspects of running a business or company formations.

With our combined years of experience, we can provide extensive direction and advice on starting up a business to ensure that the process runs as smoothly as possible and hassle free for you.

Whatever the size of business you are considering starting up we can provide vital advice on:

•    The form the business should take, sole trader, partnership, LLP, limited company, PLC.
•    Company formation procedures.
•    Preparation of projections, cash flow and business plan.
•    Arranging finance.
•    Bookkeeping tuition and implementing management procedures and systems.
•    Tax planning.

We advise that you do not risk getting caught out by any unexpected problems and come and see us from the start.  Coming to see us to present your business proposals means we can evaluate them in a constructive and realistic manner.

Book-Keeping and Accounting

Bookkeeping & Accountancy

We are here to relieve you and your staff from the troubles and burdens of in-house bookkeeping and accounting, including your annual accounts.

We work very closely with our clients in order to gain a full understanding of your business and how you run it.  We have the capacity and flexibility to then tailor our approach to your needs in order to deliver the most appropriate service we can for you.

One of the most important aspects of this service is the preparation of management accounts.  We see these as vital and integral to the continuity and success of your business.  Again, we discuss your requirements with you and provide you with tailored information and constructive advice on a regular basis.

audit regulations

Audit

There is much more to an audit than the annual year end and compliance visit. Accounting and audit regulations are arduous and our aim is to deal with them with as little hassle so that you can get on with running your business. We are qualified to deal with all statutory and bespoke audit assignments. Aside from fulfilling all legal audit necessities, our audit approach gives us the chance to really see how your business is run because we spend time finding out about it and then plan our work to test the systems you have in place. We have a set criteria and pre-agreed timetable to work with your accounting staff so that your annual audit process is as speedy and efficient as possible. This process also helps us offer effective and constructive feedback on your accounting and other in-house systems and in offering advice on how to improve.

 

trusts executorships

Trusts & Executorships

Trusts are relatively easy and very tax-efficient way to set aside assets for future beneficiaries outside the inheritance tax thresholds. We can advise on the most suitable type of trust for you, set them up and provide a full range of accounting services for trusts.

We can also advise you on the preparation of your will, single or mirror.

Where appropriate, we can act as trustees or executors.

Payroll Services to London & Essex

Self Assessment

Many taxpayers struggle to understand the complex tax returns and complete them correctly. In the first year of the Self Assessment regime alone, 775,000 taxpayers received £100 penalties for failing to submit their returns on time, and some 400,000 incurred further penalties because their returns were still outstanding six months later!

The constant flow of changes to tax legislation means not only that the returns are becoming even more difficult to understand but also that taxpayers risk incurring more penalties through failing to complete their returns on time or correctly.

We can save you a lot of time, worry, and money by handling your self assessment tax return for you. We will do all the necessary computations, complete your return, and even offer advice on how you can minimise your tax liability.

We can act as your agent, dealing directly with the HM Revenue and Customs on your behalf and, should you be selected for a self assessment enquiry, act for you at any meetings.

 

retirement-strategies

Retirement Strategies

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:

1)       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?

2)        Pension provision

Do you have an adequate pension in place? Do you have the right type of pension? Are you aware of all the pension possibilities open to business owners and directors? Are you making full use of all your allowances?

3)       Savings and investments

Do you have the right balance between savings and investments, and is your portfolio split adequately between exposures?

4)        Life assurance and long-term care

Do you have adequate life assurance, and have you made provision for long-term care and medical insurance for you and your family in your later years? We can help you answer all these questions and recommend solutions tailored to your particular needs.

personal-tax

Personal Tax Planning

With the tax regime becoming more complex, and more focus being put on taxpayers’ individual responsibilities, everyone who is subject to taxation needs professional advice and support if they are to optimise their tax position and ensure they meet all the compliance requirements.

We can provide you with year-round tax advice on:

•    income tax
•    capital gains tax
•    inheritance tax
•    trusts and estates
•    non-domiciliary tax issues

Every pound of income tax you save means more income at your disposal, every well planned disposal of assets means minimal loss of capital gains, and every inheritance tax saving means more benefit for your beneficiaries.

Make sure you take full advantage of the tax saving opportunities open to you – call us today for a personal tax planning review.

estate-planning

Estate Planning

Few of us like to think about dying, but equally few of us could live with the thought that we have not made adequate provision for family and friends who survive us.
The legislation that governs passing on your estate to your chosen beneficiaries requires you to plan well in advance. Since none of us knows when we shall die, this means making the necessary provisions now.
The earlier you make the arrangements, the greater your chance of taking full advantage of the tax opportunities available and thereby maximising the amount that goes to your beneficiaries. Nothing is more demoralising than the thought that a substantial slice of the wealth you have worked hard to accumulate will end up in the Government’s coffers!
It is equally important when planning to transfer your estate that you make adequate provision for yourself and your spouse in your later years. Striking this balance calls for considerable skill and foresight – and a detailed knowledge of the tax regime.
We provide a discreet estate planning service that includes:

•    help with drawing up and reviewing your will
•    making full use of exemptions and lower tax rates on lifetime transfers
•    optimising lifetime transfers between spouses
•    transferring agricultural or business property
•    transferring assets into trust
•    arranging adequate life assurance to cover potential inheritance tax liabilities.

We strongly advise you to begin your estate planning right away by contacting us for a preliminary review.