ACCOUNTS
All businesses are required to produce annual accounts.
Limited companies must prepare and submit accounts to Companies House and attach full accounts to HMRC with their Company Tax Return (CT600). From an ICAEW registered practice we help support you and your business by preparing your individual set of accounts which will comply with all current UK accounting standards.
For sole traders and property landlords, there is not a requirement to publish accounts at Companies House, however you are still required to prepare a set of accounts so that this information can be included in your annual Self-Assessment tax return to HMRC. We are able to help ease some of this burden, by preparing your accounts and completing the Self-Assessment tax return for you.
The new Making Tax Digital initiative is a key part of the Government’s plans to make it easier for individuals and businesses to get their tax right and keep on top of their affairs. We are here to help and support our clients, particularly sole traders and property landlords with income of more than £10,000, to make sure they understand this new legislation and we will ensure that you remain fully compliant with all of HMRC’s new digital requirements.
SELF ASSESSMENT
Self Assessment deadline day is often accompanied by a sense of dread, particularly for those whose submissions require last minute working input.
Let Noble & Armour take away the stress of deadline day, by allowing us to prepare your Self Assessment submission and calculate your personal tax liability as early as possible to give you advance notice of your tax liabilities, allowing you to manage your budget accordingly.
Although HMRC has endeavoured to simplify and streamline the Self Assessment process in recent years, legislation relating to individual tax allowances and reliefs are subject to continual change, which makes it difficult for individuals to keep up to date.
At Noble & Armour, we pride ourselves on being able to advise you on the most efficient way of managing your tax affairs, in line with the latest HMRC guidance and legislation.
We would welcome the opportunity to discuss your own personal tax management needs and how we can best support you.
BOOKKEEPING
We understand that bookkeeping can at times be a onerous task, but there is no doubt that when it is done in a proactive and timely manner the impact on your business can be significant.
The importance of having up to date financial information for your business cannot be underestimated. It will help you assess the current financial performance of your business as well as inform those critical business decisions you encounter, such as whether you can afford to hire new staff or purchase new equipment.
At Noble & Armour we can help support you and your business, by routinely carrying out your bookkeeping on a monthly or quarterly basis, as required. In addition, we are also able to provide you with a wide variety of financial reports tailored to your specific needs, to assist you in the management and oversight of your business.
PAYROLL
At Noble & Armour, we would be delighted to support your business by offering a wide range of all payroll services, including;
• Registering new businesses for PAYE with HMRC
• Processing payroll
• Calculating holiday pay and statutory payments
• Processing new starts and leavers
• Management of Workplace Pension Schemes
• Calculate and process Employee Tax Benefits
• Processing Construction Industry Scheme (CIS) monthly returns
Please contact us to discuss how best we can support your business by offering a bespoke payroll service that is tailored to meet the needs and demands of your business.
VAT
Many of our clients are VAT registered and therefore are required to submit VAT returns to HMRC on a monthly, quarterly or annual basis.
At Noble & Armour, we are here to support your business by taking the strain out of your VAT management. We have the experience and expertise in preparing and submitting your VAT returns, or if you have prepared them yourself, we can offer to review them and provide you with insights and feedback prior to their submission to HMRC.
Whether your VAT returns are prepared, or simply reviewed by us, we will ensure that all information in your submission has been correctly categorised before making any changes necessary prior to the submission to HMRC.
For our clients whose organisations prepare and submit their own in-house VAT returns, we would be delighted to work with you and your staff, to provide additional support or bespoke training solutions to further develop the VAT management capability within your organisation.
As business owners ourselves, we understand that the HMRC VAT manual is extensive, which is why at Noble & Armour, we are always here for our clients to discuss any specific VAT queries or concerns you may encounter.
CLOUD ACCOUNTING
Advances in cloud computing have now reached the world of accountancy.
Prior to the introduction of the cloud, most traditional accounting software were desktop based, meaning that it was physically installed and run from the hard drive of your desktop computer.
Whilst cloud accounting software has the same functionality as the traditional desktop accounting packages, the cloud platform offers several advantages for our clients including being able to access accounts from anywhere and in real-time, as well as always having the most up to date version of the software.
At Noble & Armour, we would be delighted to discuss with you the benefits of cloud accounting solutions, as well as identifying optimal cloud software package to suit your business needs.
MAKING TAX DIGITAL
The new Making Tax Digital initiative is a key part of the Government’s plans to make it easier for individuals and businesses to get their tax right and keep on top of their affairs.
In response to Making Tax Digital, businesses will need to maintain digital accounting records and submit a quarterly summary of their income and expenditure to HMRC.
We are here to help and support our clients, particularly sole traders and property landlords with income of more than £10,000, to make sure they understand this new legislation and we will ensure that you remain fully complaint with all of HMRC’s new digital requirements.
At Noble & Armour we can help you and your business get ready for Making Tax Digital. We can assist with your switch to digital accounting in a seamless manner avoiding any unnecessary disruption to your business.
NEW BUSINESS START UP SUPPORT
At Noble & Armour we fully understand the challenges and demands that you are faced with when you start your journey as a new Business owner.
Choosing the appropriate trading structure for your business is a key decision for all new business owners and therefore we can help you decide whether operating as a limited company or as a sole trader, would best suit both the current and future needs of your business.
We would be delighted to help guide you through the process of setting up your new business, including the registration process with both Companies House and HMRC.
Managing the day to day aspects of setting up and running a business can easily become overwhelming for the new business owner, so let us help ease the strain by offering dedicated support to you and your business covering areas such as registering and submitting your PAYE and VAT returns, advising on appropriate accounting software and managing your accountancy records and submissions.
In response to the unique challenges that any new business venture creates, we at Noble & Armour would be happy to offer bespoke start up support packages which are tailored specifically to you and your new business.
COMPANY SECRETARIAL SUPPORT
Although historically all companies were at one time required to appoint a company secretary, recent changes in legislation have removed this requirement.
Whilst it is no longer compulsory for a limited company to formally appoint a company secretary, there remains a number of key statutory requirements that still need to be carried out, such as maintaining company registers and records, as well as ensuring that the business continues to meet its filing deadlines.
At Noble & Armour we can offer you and your business a wide range of secretarial support services that will be tailored specifically towards the unique demands of your company.
TAX INVESTIGATION INSURANCE
At Noble & Armour we understand that an HMRC enquiry into any aspect of your tax, PAYE or VAT affairs business, can be a daunting prospect.
It goes without saying of course, that any formal HMRC enquiry or investigation into your tax affairs can quickly escalate, requiring a significant amount of time and resource from business owners to produce a robust response.
We have significant experience of routinely working with HMRC, and supporting the interests of our clients, in response to formal HMRC enquiries and investigations.
In order to help mitigate the risk of having to pay excessive accountancy fees in order to respond to routine HMRC enquiries and investigations, we at Noble & Armour are delighted to offer Tax Investigation Insurance which would cover our fees in the event of an enquiry being opened.
Please get in touch with us to find out more about the Tax Investigation Insurance cover we can offer you and your business.