Tax & Accounting

Tax & Accounting

Sole Trader Accountancy - Gold Service

As a Sole Trader, you are entirely responsible for your business. You would be self-employed. With our dedicated team, we would always be on hand to support you. 

Our monthly fee for the below services is from £60 + VAT per month payable by standing order.

Set Up

 We will register your business with HMRC and for VAT. 

We will assess your businesses, and if required register your business for the VAT Flat Rate Scheme.

Our team will assist you to open a new business bank account with Carter Allen, withing 5 working days.

We will guide and assist your business with finding Professional Indemnity insurance, Public liability and Employers liability insurance.

Monthly

We will operate your payroll with payslips for each employee and online filing with HMRC including RTI (real time information). Max 2 employees (£9 per month for each additional employee above 2).

We will calculate and issue you a profit and loss statement for your business.

Quarterly Bank reconciliation. 

We will calculate and offer advice of VAT returns and payments.

Annual calculation and advice of PAYE payments. 

Issue and file P14’s/P60 and P35 with HMRC.

Issue and file P11d and P11d(b) with HMRC.

Calculate and advise you of Class 1A NIC payments.

We will prepare and file business accounts with HMRC.

We would deal with your personal and Partnership Tax Return - standard return plus employment and self-employed pages.

Ongoing

We will give you a dedicated Account including their direct phone number & email address.

There will be unlimited telephone and email support. We guarantee you a reply within 24 hours and same day if before 4pm.

We will establish ongoing book-keeping.

We will personally deal with any general HMRC correspondence and queries.

Any change of addresses for the business will be dealt with by us.

Mortgage and tenancy references.

We would complete National Statistical Office questionnaires.

We would deal with HMRC investigations where we have done the work. This is provided you have followed our advice and never concealed anything from us.

If you decide to cease using our services, your only commitment is to give us one month notice.

If you choose to move to another accountant, we would never make a charge for the transfer.

What you must do:

Send us with copies of your invoices.

Send us your details of your expenses.

Send us a copy of your business bank statements.

Respond to letters and emails from us.

Pay our fees each month.

Partnership Gold Service Summary

As a business model, a partnership is similar to that of a sole trader.  When more than one person wishes to own a business, a partnership would be used to own the business equally.

Using the Self Assesment system, the partners would individually pay income tax.  Each partner would also pay Class 2 and Class 4 National insurance, whilst the business itself pays VAT if it is registered. 

The partnership business model creates joint liability for any debts of the partnership. If one partner fails to pay their share of the debts, the debt would become the responsibility of the other partners. 

If this business model feels right for you, then we can help.  Our dedicated team will assist you with HMRC, VAT registration, record keeping, all the way to setting up a bank account. With RHJ Accountants the process would be easy and simple.

Our charge for this service (2 partners) is £120 + VAT added per month, additional partners are charged at £60 + VAT added per month. This is payable by standing order.

Set Up

 We will register your business with HMRC and for VAT. 

We will assess your businesses, and if required register your business for the VAT Flat Rate Scheme.

Our team will assist you to open a new business bank account with Carter Allen, withing 5 working days.

We will guide and assist your business with finding Professional Indemnity insurance, Public liability and Employers liability insurance.

Monthly

We will operate your payroll with payslips for each employee and online filing with HMRC including RTI (real time information). Max 2 employees (£9 per month for each additional employee above 2).

We will calculate and issue you a profit and loss statement for your business.

Quarterly Bank reconciliation. 

We will calculate and offer advice of VAT returns and payments.

Annual calculation and advice of PAYE payments. 

Issue and file P14’s/P60 and P35 with HMRC.

Issue and file P11d and P11d(b) with HMRC.

Calculate and advise you of Class 1A NIC payments.

We will prepare and file business accounts with HMRC.

We would deal with your personal and Partnership Tax Return - standard return plus employment and self-employed pages.

Ongoing

We will give you a dedicated Account including their direct phone number & email address.

There will be unlimited telephone and email support. We guarantee you a reply within 24 hours and same day if before 4 pm.

We will establish ongoing book-keeping.

We will personally deal with any general HMRC correspondence and queries.

Any change of addresses for the business will be dealt with by us.

Mortgage and tenancy references.

We would complete National Statistical Office questionnaires.

We would deal with HMRC investigations where we have done the work. This is provided you have followed our advice and never concealed anything from us.

If you decide to cease using our services, your only commitment is to give us one month notice.

If you choose to move to another accountant, we would never make a charge for the transfer.

What you must do:

Send us with copies of your invoices.

Send us your details of your expenses.

Send us a copy of your business bank statements.

Respond to letters and emails from us.

Pay our fees each month.

Taxi Accounts & Self Assessment

TAXI ACCOUNTS AND SELF-ASSESSMENT FOR ONLY £150

In a modern world, there are many 'DIY' computer programs claiming to allow taxi drivers to compile their own accounts. However, it is far easier to allow an expert to take the stress and do this for you. As specialist taxi accountants, we have years of knowledge and experience that can not simply be put in a computer program. With us, you will get the support and guidance which cannot be obtained from a simple computer system. 

Recording Income and Expenses for a Taxi Driver can be considered easy. Income is simply cash takings. All cash takings should always be recorded daily.  However, it is important to consider the expenses a taxi driver will incur. 

A taxi driver will incur some or all of the following:

Fuel, Annual Overhaul, Repairs and Services, Taxi Rental, Road Tax, Insurance, Licences, Congestion Charges, Cleaning and Valeting, Airport Parking, Parking Charges Generally, Toll Booth Charges, Communication Costs, Stationary, Trade Subscriptions, Loan or HP Interest, Bank Charges, Accountancy Fees and meals while working. 

The cash flow of a taxi driver should be recorded daily. Many of the above would be paid by a bank which would have a bank statement or invoice as a referral document. However, some are also paid by cash, which must be recorded, using the receipt as a reference document.  

What can we do for you?

We are here to help. With our years of knowledge, we are able to advise and guide you on the more complicated matters. Our dedicated service is committed to ensuring the smooth running of your business, without all the stress and hassle.

Within our competitive annual fee, we will accurately complete your Tax Return. We will ensure HMRC receives it within their strict deadlines and ensure there is no stress or panic. 

In addition, we will assess your annual fee whether you are trading in the most tax efficient manner. We will advise you on which business model would be most tax effective to ensure your outgoings are always consolidated.  a

We price the more complex returns individually. This allows us to offer the most competitive prices with the best service. Our customer is paramount to us, unlike a computer program. 

We can also offer a complete accountancy service with personalized business advice, to clients who need more. From business start-ups to property accounts, or even tax efficient advice on investment property, we will assess your requirements and always be happy to help. Whatever your situation, we can assist you. 

REFER A FRIEND OR FELLOW TAX DRIVER AND RECEIVE £25 OFF YOUR FEE AND REFER MORE THAN 4 FRIENDS IN THE SAME TAX YEAR AND YOU RECEIVE FREE ACCOUNTANCY!

For full details of all our services please visit the services page on the website below:

Accounts and tax returns for a taxi driver are not difficult. As experienced accounts, we appreciate that advice and a stress-free method is required. Our customer is at the forefront of everything we do.  

We, therefore have a special charge for all taxi drivers of only £150!

Your next step:

Please contact us if you need further advice, have any questions about our services. We are happy to provide you with a free consultation or a fixed fee quote.

You can alternatively go to the website and use the join us page and complete sections 1 & 2 website below:

We look forward to seeing you soon.

Due Dates and Deadlines

The tax year runs from 6th April to 5th April each year. This will be the period covered by the tax return, for example, the 2014/15 tax year runs from 6th April 2014 to 5th April 2015.

The SATR is due by the later of 31st October and three months after the date the SATR was issued. 

Late returns will incur automatic penalties, varying in size depending on how late the return is. The penalties are as follows:

1 day late: £100 penalty

3 months late: £10 penalty per day, up to a maximum of 90 days

6 months late: £300 penalty or 5% of the tax due, whichever is greater

12 months late: £300 penalty or 5% of the tax due, whichever is greater

In serious cases, you may be asked to pay up to 100% of the tax due as a penalty instead.

The payment of any taxes due for the year needs to reach HMRC by 31st January following the tax year end i.e. any tax due for 2013/14 is due by 31st January 2015. You may also have to make payments on account in advance of the next year's liability, for further details please ask.

Personal / Private Individuals

Don't let taxes such as income tax, capital gains tax and inheritance tax erode your wealth significantly.

RHJ Accountants and associates will let you know just how important it is to maximize and protect your personal wealth. 

We strive to help minimize the impact of these taxes on your finances and enable you and your family to enjoy more of your wealth. Whether you have your own business, you're looking to exit your company, or you want to provide for your loved ones, we can help you achieve your goals. We assess our client's individual needs and tailor a personalized service. 

We will secure your wealth for generations with our private client services:

Capital gains tax advice

Exit planning and shareholder planning areas

Inheritance tax advice

Pension advisory

Personal tax self-assessment compliance

Trust compliance and advisory

Wealth management

Please call us today and arrange a meeting to discuss your private client needs. We are here to help and offer you the best possible future.

Insurance

As a provider of services via a limited company, we cannot stress the importance of holding adequate business insurance in place at all times – notably professional indemnity, public liability and employers’ liability.

Why should I be insured?

The majority of agencies require contractors to have appropriate insurance cover which will normally form part of your contract with them.

If your actions lead to anything being damaged or someone being injured; or any advice you provide or work you complete results in a client losing money, a claim could be made against you. Having appropriate insurance cover could be what keeps you in business.

Holding business insurance is also a key IR35 indicator, indicating to HMRC that you are operating as a legitimate business

If for any reason you do not hold the appropriate insurances, we would suggest you contact our insurance partner Kingsbridge Contractor Insurance, a specialist insurance broker specifically for contractors.

Kingsbridge provide a comprehensive, competitive and fully compliant package that includes all the key insurances you may require, meaning you only need one policy to cover your main exposures and meet your contractual obligations.

You can get in touch with their team directly on 01242 808740 or via enquires@kingsbridge.co.uk. You can also get a quick quote at

https://rhjaccountants.kingsbridge.co.uk/buy

Our bespoke Accounting services are crafted for you and your needs.