Statutory Tax Compliance and VAT Advice
Bookkeeping is a vital business function but company owners and sole traders can find this task a real burden, as well as incredibly time-consuming. Businesses in the start-up phase may not have the finances to fund the role of a staff member whose remit is to cover book keeping, and therefore looking after the accounts and tax compliance can fall to them to keep on top of, along with every other aspect of business operations.
This is a function that can be outsourced, either wholly or in part. Whilst this may seem like a costly thing to do, many business owners will probably be quite pleasantly surprised by how cost effective the solution is. It holds real value in terms of the time it can give back to them to concentrate on the running of the business and its development.
At Adams Moore, we can tailor the service to meet varying business requirements, acting as a freelance bookkeeper while also advising on statutory tax compliance. In the event that it is preferred to continue to handle bookkeeping in house, we can help with the appropriate business accounting software to make the task easier and more efficient.
The pitfalls of getting VAT calculations and returns wrong, leading to over or under payment to HMRC, can be a real issue for businesses. The rules and regulations from HMRC around VAT are ever-changing and keeping up with them can be a time-consuming activity for business owners.
Seeking VAT advice and support service from a professional is worthwhile for all aspects of this element of business tax, from registration and guidance on which schemes to adopt, through to filing returns. The cost in outsourcing this function is outweighed by the benefits of the accuracy in calculations, knowledge of relevant legislation and all-round expertise in what can be an incredibly complex area.
For more information about the statutory tax compliance and freelance bookkeeper services offered by Adams Moore, get in touch to arrange a free consultation. While we are based in Tamworth, we have clients in Sutton Coldfield, Lichfield, across Birmingham and even further afield.