LTD Company accounting services

 

  • Accountancy
  • Bookkeeping
  • VAT
  • Company secretarial
  • Payroll Administration
  • Corporation Tax
  • HMRC Enquires/Investigations
  • CIS (The Construction Industry Scheme)
  • LTD Company formation
     

Accountancy

We are able to adapt our accounting procedures to fit the individual needs of our clients, rather than sticking rigidly to one process. This principle underpins our accounting approach, which you can expect to be tailored to suit your needs and those of your business.

As with all areas in which we operate, our aim is to ensure that your business derives optimum value from the process in a very practical manner. We aim to create a transparent and open relationship in which, where necessary, our people are able to support your in-house teams in a manner that mirrors your structure. Our firm operates with all major software packages and, again, we are able to match and adapt our technical processes with your requirements.

  

Bookkeeping

Our bookkeeping service will ensure that you never have to worry about the accuracy of your accounting records again. We will prepare all of your basic accounting records so that you can concentrate on the business.

  

VAT

Legislation governing this area is extremely complex and ever-changing - but the failure to comply risks penalties being imposed. We can prepare all VAT returns accurately and ensure that VAT has been accounted for.

Our services include:

VAT Registrations

VAT Returns

Assist with enquires/investigations

  

Company secretarial

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:

Preparation and filing of statutory returns

Preparation of all documentation related to minutes and resolutions

Maintenance of statutory books

General advice on company law

  

Payroll Administration

Our company consists of a dedicated team who provide a full and integrated payroll service to a wide range of clients operating large and small payrolls. We provide a guarantee of confidentiality and the assurance of special attention to all aspects of your payroll function. We can release the burden of needing to understand changing legislation relating to employee tax codes and personal allowances. Monthly calculations of PAYE tax and NICs, which need to be passed on to HMRC consistently, and the issuing of payslips to your employees can all be handled by our company in a completely confidential manner.

Our services include:

Calculation of PAYE and NIC

Submission of PAYE and NI contributions to HMRC

Administration of statutory sick pay, maternity pay

Customised payslips provided to you/your employees

Administration of incentive schemes and termination payments

Completion of your Annual Returns

  

Corporation Tax

Our specialist tax team know that it is only with careful tax planning that companies will be able to minimise their tax obligations and maximise their profits.

We advise many companies on the most tax-efficient ways to structure their affairs and ensure that all available reliefs are utilised. In many sectors and areas of business, tax legislation has tended to be an area of regular change and in such cases our firm regularly helps clients stay abreast of the latest opportunities, as well as any potential pitfalls.

Our services include:

Advise on a structure for your company that will be most tax effective

Undertake careful tax planning in order to help you to improve your profits

Determine whether you can take advantage of any tax breaks specific to your industry

Ensure that your company meets UK corporate compliance requirements

Represent you effectively when dealing with the tax authorities

Provide advice on how to maximise the benefits of sale of assets and purchasing of new assets.

  

HMRC Enquires/Investigations

Most businesses fear the thought of HMRC enquiries/investigations. However, with legislation increasing the HMRC powers and HMRC increasing its resources in this section, an increasing number of businesses are finding themselves in this precarious situation.

Through our decades of experience of dealing with HMRC, we have developed a methodical way of working to address clients’ concerns. We begin by understanding clients’ issues and the nature of the enquiry and investigation in detail. We then proceed to use our in-depth knowledge to quickly assess the situation and formulate pragmatic, strategic solutions to help bring the matter to a swift conclusion. Protracted negotiations are to no-one’s benefit, however, should they be required, then we will invest the resources necessary to ensure that we represent you as best as is possible. 

Our team of experts can confidently represent clients, because of their intimate knowledge of tax legislation, HMRC rules and regulations and decades of experience of dealing with HMRC.

  

CIS (The Construction Industry Scheme)

The Construction Industry Scheme sets out the special tax rules for subcontractors who work in the construction industry and how payments must be handled by contractors.

Contractors: As a contractor, you are required to meet specific obligations under the scheme, including registering with HMRC (HM Revenue & Customs), checking whether your subcontractors are registered with HMRC, paying subcontractors, deducting tax and submitting monthly returns and statements confirming these payments. 

Services we provide for contractors:

Register you with HMRC as a contractor

Verify your subcontractors with HMRC

Ensure you pay your subcontractors correctly within the scheme

Supply deduction statements to the subcontractors

Keep your records in good order and supply HMRC with monthly returns 

Make sure you do not incur penalties by failing to submit your monthly returns to HMRC. Klevas Consulting Ltd works with numerous contractors and are equipped to deal with your needs efficiently. By making sure we are always up to date with any changes to the CIS regulations we can notify our clients quickly of any changes that may affect them. 

Subcontractors: If you are a subcontractor, your main obligation is to register with HMRC. You must also keep HMRC informed of any changes to your business such as changes to your business address, business name, business partners and other relevant information. 

Services we provide for subcontractors:

Determine your status as a subcontractor or employee, (or both) and register you with HMRC accordingly

Verify you with HMRC on behalf of your contractor

Manage and organise your business records

Prepare your end of year self assessment tax return and calculate your tax liability/ refund where applicable 

Any contractor that you work for must determine whether or not you are to be treated as employed or self-employed for each and every contract. If you are an employee for the purpose of the contract, the contractor will need to operate a PAYE scheme whereby tax and National Insurance Contributions will be deducted from the payments made to you. 

If you are self-employed, HMRC will register you as a subcontractor under the CIS scheme and they will set you up to receive payments 'under deduction'. This means contractors must make a deduction of tax at 20 per cent (30 per cent for unverified subcontractors) from the labour element of your invoices and pay it over to HMRC. 

Whether you are the contractor or the sub-contractor, Klevas Consulting Ltd can help you keep your CIS affairs in order. 

 

LTD Company formation 

Advantages and Benefits of a Limited Company. 

Limitation of Liability: First and foremost, the principal benefit of trading via a limited company has always been the limited liability bestowed upon the company's officers and shareholders. As a sole trader or other non-limited business, personal assets can be at risk in the event of a failure of the business, but this is not the case for a limited company. As long as the business is operated legally and within the terms of the Companies Act, directors or shareholders personal assets are not at risk in the event of a winding up or receivership. 

Lower Taxes: Lower corporation tax offered a private limited company advantages over self employment in recent years. Incorporation does still offer tax saving advantages dependent upon the net profit before tax. 

The private limited company advantages come from the flexibility of being able to determine the proportions of salary and dividends taken compared with a sole trader whose basic accounts are subject to tax at fixed tax rates and thresholds. 

The following documents will be sending to you upon formation of your company: 

Certificate of Incorporation

Memorandum and Articles of Association

Minutes of First Meeting

Share Certificates

Combined Register

Register of Members

Register of Directors & Secretaries

Register of Director's Interests

Register of Charges

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