Have you heard about auto-enrolment? It is the term for the automatic enrolment of employees into workplace pension schemes and it will affect all businesses.
Auto-enrolment has already started for larger organisations and by 2018, every business must operate a pension scheme for qualifying employees, with employee and employer contributions being paid.
Though 2018 may seem like a long way off, there is a lot to do – so in order that employers meet their requirements for auto-enrolment, they should start planning now.
We can help your business prepare for auto-enrolment compliance, providing help and guidance throughout the whole process; from helping you assess the cost for your company and providing assistance in setting up or reviewing your pension arrangements, to managing your payroll function so that you are fully auto-enrolment compliant.
So don’t delay – start your preparation today.
ABP can help prepare and produce your monthly contractor returns. Along with submitting these returns online, we can also produce your subcontractor certificates for you to distribute.
Each time a contractor engages a new subcontractor, they must verify them with HMRC. Our team can assist you in that process or can complete it for you.
Our team also works alongside many subcontractors and assists them registering for CIS and making sure that the tax deducted from them is at the correct level.
The certificates given each month to subcontractors need to be retained by them and used to complete their self-assessment tax return which needs to be completed each tax year. The certificates are proof that tax has been deducted from the gross payments and therefore can be offset against their annual tax bill.
Subcontractors commonly suffer more tax deductions than their actual liability. As such we can assist you in reclaiming this tax back from HMRC.
One of the first things to do when setting up your new business is to establish the type of trading vehicle you will use. We can help you assess the pros and cons of the various options.
We can assist you with Companies House limited company registrations and are able to form your new company within 24 hours.
Once your company is registered, your company directors are legally responsible to file the company's annual accounts and annual return on time, ensuring that the information held by Companies House is correct.
Companies that are late in delivering their accounts or annual returns receive a late filing penalty. Furthermore, as Companies House display filing dates on the public record, late filing can damage your company's reputation.
We can assist with these filing requirements and meeting deadlines for annual returns by using the latest online filing systems.
On an on-going basis, we can assist with all other company secretarial matters, such as changes to company officials and shareholdings and keeping your company records up to date.
At ABP we recognise that the increasingly complex tax framework can be a burden on many businesses and we aim to provide a service which enables business owners to feel confident that they are compliant with tax legislation yet mitigating tax liabilities as much as possible.
We can assist you and your company in planning for capital expenditure and make sure that you obtain the maximum amount of tax relief you can.
In addition, companies may be entitled to claim other reliefs such as enhanced Research and Development expenditure. This can help minimise your corporate tax liabilities and in some circumstances can be sacrificed for tax repayments.
We will also look at changing company structures in order to minimise tax bills and assist with planning profit extraction in order to minimise potential liabilities for the company and also the individuals being remunerated.
The decisions made by the directors or owners of a company can lead to the success or failure of a business.
In order to make the correct decisions, it is important that concise, reliable and accurate information is given on a timely basis to those making the decisions.
ABP use the latest computerised software to ensure that management accounts can be prepared promptly at our clients request or at regular intervals.
We can tailor these accounts to suit your needs.
The staff at ABP have the knowledge to help you understand what the accounts show and how to identify areas of concern and areas where improvement is possible.
We can relieve you of the burden of calculating your PAYE and NI liabilities using our Payroll system and have staff onsite who specialise in all payroll matters.
Real Time Information (RTI) payroll came into effect in April 2013. We had many clients involved in the pilot scheme which ran from late 2012 to early 2013 and were therefore ideally placed to assist our clients with the full transition.
Our bespoke service enables us to process your payroll as often as you wish, with common choices being monthly, fortnightly or weekly. We can also assist you in setting up your PAYE scheme, if you have not previously been an employer, and explain your obligations under the RTI system.
The RTI process involves making a submission when an employee is paid. We can ensure that both the filing requirement and payment is made in accordance with the RTI guidelines.
There is always somebody available to talk to you during normal office hours and we can easily deal with any payroll problems or queries you may have from day to day, whether RTI related or not.
Our aim is for clients to feel confident that they are compliant with tax legislation yet paying the minimum amount possible.
At ABP we have a qulified accountants and therefore our clients can be confident that they are getting the best possible advice.
Our team help clients prepare personal tax returns on a daily basis and has a wealth of experience in all aspects of personal tax.
We work closely with clients to ensure that their tax returns are correct and filed on time.
We don’t only concentrate on minimising income tax liabilities. We always consider the wider picture and can advise clients on any knock-on effects with other taxes.
We always listen to our clients and make sure we have a full understanding of their current circumstances before planning for the future.
At ABP we believe that although statutory accounts are necessary to keep limited companies compliant with the requirements of Companies House and HM Revenue & Customs, they have the potential to offer the owners and managers much more.
The accounts report on the performance and activities of the company during the period to which they relate. Lots can be learnt from past results and the accounts therefore can be used to plan for the future. They can also identify areas where cost control is required and thus can be a significant tool when making business decisions.
ABP use the latest computerised software to ensure that the accounts prepared are compliant with current legislation and can prepare your statutory accounts from your source documents or your bookkeeping summaries.
The staff at ABP prepare accounts on a daily basis. We can therefore assure you that there is always someone here who will be able to give you the advice you need regarding your statutory accounting requirements.
At ABP we realise how important it is to be proactive in tax planning.
We have been dealing with individuals and owner-managed businesses over the years and in that time have gained a wealth of knowledge on both common and not so common tax issues.
Our team includes a qualified accountants and thus you can be assured that you are getting the best possible advice.
We specialising in owner-managed businesses means that tax efficient profit extraction is at the forefront of any plans we make.
We always consider how each of the direct taxes interact with each other and thus can consider both short and long term tax plans for our clients.
Many people see VAT as a burden on businesses but at ABP we aim to reduce this burden.
Many people are unaware that VAT schemes are available to assist their business and they have the potential to increase profits.
At ABP we process VAT returns on a daily basis and are well positioned to advise you on different schemes which may be beneficial to your business.
Our team can talk you through your VAT registration requirements or alternatively can complete the registration process for you.