Most people starting up in business do so because they have a good business proposition and the enterprise and commitment to see it through. Most however are not experts in the legal and financial aspects of running a business and such matters can appear daunting. Fortunately you do not need to be an expert in these fields to succeed in business, but you do need the support of a team of trained experts.

We can help. Just bring us your business ideas and we will help you to make them a reality!

We will help you to:

• decide on the most suitable structure for your business – sole trader, partnership, limited liability partnership or limited company
• prepare a business plan, cashflow projections, budgets, and trading forecasts
• assess the finance requirements, advise on the best sources of finance and draw up the necessary proposals
• establish a good working relationship with your bank
• complete any registration procedures with Companies House and HMRC
• deal with company secretarial issues
• set up a recording system for your internal use and for complying with statutory requirements
• decide on what computer hardware to buy and help with the installation of accountancy software
• keep on top of bookkeeping, VAT, payroll and other accounting requirements and
• help with all aspects of business compliance and administration

We can prepare accounts to help in completion of self-assessment tax returns and produce financial statements to file at Companies House and abbreviated accounts to ensure the minimum amount of your financial information is made public.

All of our accounts are prepared to agreed timescales and deadlines, with the work performed by high quality staff with the appropriate specialist training.

But we can do more than just report the history of what’s already happened, we will identify areas where we can assist in minimising your tax liability, identify areas of the business that give you the most opportunity to make improvements, use the accounts to help you measure where you are in meeting your goals and what actions you need to take.

We take the time to explain your accounts to you so that you understand what is going on financially within your business, helping you to plan for the future.

Webb and Company are registered to carry on audit work in the UK and Ireland by the Institute of Chartered Accounts in England and Wales. Details of our audit registration can be viewed at www.auditregister.org.uk for the UK and for Ireland at www.cro.ie/auditors under reference number C001442879.

All of our audits are conducted in accordance with the International Standards on Auditing (UK and Ireland) and include such tests of transactions and of the existence, ownership and valuation of assets and liabilities as we consider necessary.

We can advise you if you need an audit and if not, you can save on accountancy fees!

However, we aim to deliver hassle free audits and there are good reasons for having an audit even if you are not required by law to have one. An audit involves a detailed review of the company’s accounting systems and systems of control and also requires a detailed understanding of the company’s business. Such a review and knowledge can provide increased opportunities to provide proactive business advice on many matters.

An unqualified audit report can improve the status of the accounts in the eyes of banks and commercial lenders, the Taxman and suppliers who may be seeking credit references. A history of accounts with clean audit reports can also be a factor if you ever wish to sell the company or, perhaps, take it to the market.

We can help you fulfil this role and offer the following services…

• Registered office facilities;
• Maintenance of statutory registers;
• Submission of statutory documents;
• Giving notice of General Meetings;
• Drafting agendas for company meetings;
• Preparing Minutes of Meetings;
• Completion of share transfer forms;
• Preparation of share certificates;
• Carrying out company searches;
• Filing of Annual Return;
• General Company Law advice.

Management Consultancy

Our management consultancy service can review your credit control, stock control, budgeting and financial reporting systems and allow you to take full control of these key areas of your business. We can also help you address specific problem areas in your business such as gross profit, cost control and stock valuation.

Effective management information will allow you to seize opportunities when they arise or identify problems quickly so you can take effective corrective action.

Information technology

Information technology (IT) is one of the key resources available to every business to achieve its short and long-term objectives.

Using the knowledge gained from our own systems and those designed for other clients, our in-house IT team are able to advise on IT related matters with first-hand experience. We can install software, provide training and help you to obtain the best from your chosen system.

Our expertise enables a complete range of services to be offered, including:

• software selection
• installation and training
• management reporting solutions and
• payroll systems

If you are spending too much time writing up books, typing invoices and chasing debts we help to take control by computerising your accounts system. We can help you to make the best use of IT resource to produce financial information that is accurate and appropriate for running your business effectively. With the correct accounting software you will save hours of hard work leaving you more time to deal with the more important areas of the business.

In short, whether you are investing in new technology, reviewing existing systems or have simply outgrown your current resource, we can help.

Management accounts and information

Obtaining regular reliable management information is vital to the continued success of any business. Let us work closely with you to get to know your business so we can make suggestions to help improve profits or to develop and grow your business. We can prepare your monthly or quarterly management accounts to ensure you always have reliable and accurate information on which to base your business decisions.

Payroll

Running a payroll can be time consuming and complicated and divert resources from the core activities of your business. With the implementation of Real Time Information, HMRC require information generally on or before the date of payment to the employee. We can help by installing payroll software and training your staff. Outsourcing this activity also helps relieve the pressure and we can offer cost-effective solutions. We are able to provide the complete service, whatever the size or complexity of your business, or simply provide support when needed.

Bookkeeping

We can help you with all your general bookkeeping requirements, either at your business premises or at our office. Maybe you need help writing up the books or just want us to add the finishing touches to the information in order to create your own management information. If you do not employ a bookkeeper then we can take up the role or help you recruit the right person for your business.

Business planning and forecasts

Every business should plan ahead to ensure success but daily business pressures often conspire to delay the strategic planning process. Financial forecasts are a crucial part of any business plan and we will ensure these are both meaningful and robust.

We are specialists in income tax, capital gains tax and inheritance tax.

We have the expertise and software to take the headache out of the form filling and compliance aspect of Self Assessment. We can provide you with practical advice on personal tax and the planning opportunities available to you. Over recent years HMRC have increased the penalties for failing to file a return on time and for errors. We can complete tax returns, calculate any tax liability and advise you on exactly when to make payments and how much to pay.

Personal tax planning

Everyone who is subject to taxation needs professional advice and support if they are to optimise their tax position and ensure they meet the compliance requirements. Our specialist tax team can provide you with year-round advice on all aspects of personal taxation.

Estate planning

Few of us like to think about dying; however the relevant legislation requires us to plan well in advance. This means making the necessary provisions now. There are many tax opportunities available and the earlier arrangements are made, the greater the chance of taking full advantage of our complicated tax system.

It is important when planning to transfer an estate that adequate provision is made and getting the right balance requires considerable skill and foresight – along with a detailed knowledge of the current tax regime. We provide a discreet comprehensive estate planning service that includes:

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

Trusts

We also have expertise in dealing with trusts; a very tax efficient way to set aside assets for future beneficiaries outside the inheritance tax net. We can advise on the most suitable type of trust to fulfil your wishes, assist in setting up the trust and provide the full range of accounting services required for trust management.

Vat

Ever changing regulations and the growing demands of HMRC mean VAT compliance can be a difficult administrative process. We can help to ensure that you comply with the regulations and that overpayments are not made. To help you manage this complex area, we provide an efficient, cost-effective VAT service, which includes:

• assistance with VAT registration
• advice on VAT planning and administration
• use of the most appropriate scheme
• VAT control and reconciliation
• help with completing VAT returns
• planning to minimise future problems with HMRC
• negotiating with HMRC in disputes and representing you at VAT tribunals if necessary.

Hmrc Investigations and Enquiries

Being the subject of a tax investigation or enquiry by HMRC can be a stressful and worrying experience. We have a wealth of experience in dealing with HMRC investigations, whether they are enquiries into an individual’s Tax Return, more detailed enquiries into a company’s affairs or employer-related investigations into PAYE and P11d compliance. If you the subject of an investigation, we can provide expert help and support.

Tax protection

With the increased risk of such investigations it may be worth considering taking out our annual insurance policy to protect you and your business from unexpected costs; an investigation will undoubtedly result in additional accountancy work being undertaken. The amount of work will depend upon the complexity of the case but the cost could be substantial.

Under Corporation Tax Self Assessment (CTSA), the legal responsibility for correctly calculating the corporation tax liability falls on business owners. We understand the issues facing owner-managed businesses and can prepare tax returns in a timely and efficient manner. We will also calculate your company’s tax liability and assist with the calculation of any quarterly instalment payments due.

The increased reporting obligations, investigation policies on the part of the tax authorities and harsher penalties for non-compliance mean that your time and resources can be taken up with tax administration. We will help to minimise corporate tax exposure and relieve the administrative burden of compliance with current tax legislation. Effective corporate tax planning can also result in significant improvements in your bottom line.