Licensed Trade Service Details

• Accounting system
• Detailed new business / new client registration and review
• Quarterly VAT Returns
• Annual income and cash flow planning
• Annual financial services review
• Annual accounts
• Business tax computations and agreement of liabilities
• Companies House compliance where appropriate
• Personal Tax Returns for 2 people
• Unlimited telephone access and hotline
• Accountant's References
• Comprehensive tax monitoring and advice

Accounting system

We strongly recommend that you supply your weekly business information on a monthly basis with our user-friendly Excel cash sheet which is tailored specifically to the licensed trade.

This enables not only the fastest current means of information flow between us, but also removes the 'lost cash sheet in the post' problem and substantially reduces the amount of input required from you, our client compared to the traditional paper-based weekly cash sheet system.

Detailed new business / new client registration and review

Once you have become a client we conduct an in-depth review of your circumstances. This aspect of our service is key to developing an understanding of what is now and will be required in the future.

• Obtain and record key information and facts relevant to your business (e.g. key wet and dry supplier details)
• Discuss and agree any specific business service requirements
• Conduct any training on excel or manual cash sheet completion
• Explanation of the level of service required along with additional services available
• In the case of all new businesses completion of registration forms with HMRC for VAT, business tax and PAYE

Quarterly VAT Returns

We assist you with the preparation of VAT Return from the information you have submitted to us. Your return is drafted and then provided to you for approval and submission.

In addition we also assist you with:

• changes in VAT registration arrangements
• VAT compliance visits
• general VAT advice & dealing with routine correspondance
• any penalty and surcharge assessments

Annual income and cash flow planning

Taxation of income does not follow the same pattern as the total amount of money withdrawn by you from the business (be this by drawings, director's salary etc) and therefore it is extremely important that sufficient money is left to meet future taxation liabilities payable by the business on its profits.

Annual income planning is intended to set a basis for the withdrawals from the business that considers all aspects of both business and personal needs.

Annual financial services review

We provide a free personal financial review covering all aspects of pensions, investments, business & personal insurances through our affiliate business Quay Financial Services (QFS).

QFS are fully independant & authorised financial advisors who are conversant with the needs of small businesses & their owner managers.

A review is available annually and offered on a non-obligatory basis.

QFS are also able to arrange personal mortgages & other fund raising activities through their contacts with numerous finance providers.

Annual accounts

Preparation of business year end accounts for statutory and taxation purposes and assisting you with presenting them in the appropriate format for the type business, including:

• Sole traders
• Partnerships
• Limited companies
• Limited Liability Partnerships

Submission of annual accounts approval and submission.

Business tax computations and agreement of liabilities

The completion of business tax computations, the completion of the business tax returns (Corporate or Partnership, and the personal supplementary pages) and their submission to HM Revenue & Customs.

We will advise you of tax due and the payment dates.

We correspond on normal compliance issues with HM Revenue & Customs to reach agreement of tax liabilities payable.

We are not responsible for penalties on late or incorrect submission of Returns or interest on late payment of tax due.

We deal with all general correspondance with HMRC on business tax, VAT and PAYE matters as your appointed agent. You simply send all correspondance to us and we respond as appropriate and advise you of what is required and when such action should be taken.

Unlimited telephone business tax advice during normal office hours.

Companies House compliance (where appropriate)

We assist you with the:

• preparation and filing of statutory accounts
• preparation and submission of Annual Returns Form 363
• preparation of minutes and resolutions
• share issues and changes in share structure
• notification and filing of changes in circumstances concerning company officers
• routine correspondance & online filing where practicable

Personal Tax Returns for 2 people

We include the completion of a Self Assessment Tax Return for you and one other person connected with your business within our service.

Each person will have to complete a detailed questionnaire once a year to provide us with the detailed information required for us to complete your Return.

Draft returns and tax calculations are prepared and sent to you for approval and submission to HM Revenue & Customs. You are responsible for making any payments of tax by the dates we advise at the time. We are not responsible for penalties arising from late submission of Returns or interest on late payments of tax due.

Routine enquiries by HM Revenue & Customs following submission of Returns may arise. We include dealing with these enquiries within our service. Investigations arising from undisclosed income or other omissions from any Return and the resultant back duty enquiry are specifically excluded from the service.

If additional individuals require a tax return we offer that service via our Personal Tax Service.

Please note that if your tax affairs are out of date then we may need to deal with the arrears. We will advise you of the work required and the expected cost should you choose to appoint us to handle that work.

Unlimited telephone access and hotline service

As all of our services are provided 'in house' you will be provided with one qualified and dedicated point of contact to provide a personal as well as professionally regulated service.

You will have a free contact facility, with an unlimited weekday telephone help line during normal office hours as well as an SMS messaging service for all other times.

Accountant's References

• Provision of mortgage reference letters
• Provision of landlord /tenant reference letters
• Income references for banks & other lending institutions

Comprehensive tax monitoring and advice

No one wants to pay more than the correct amount of tax and national insurance liabilities.

Quay's service includes providing guidance and assistance with understanding the complexities of tax legislation and avoiding the pitfalls that often present themselves and result in unnecessary tax liabilities or penalties.

Effective monitoring and advice depends upon having a detailed understanding of your affairs. We achieve this by ensuring only one person is responsible for a client.

We always ensure that our tax monitoring and advice is both practical and cost effective.

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