Essentially, we keep our clients’ affairs in order and make sure they're paying as little tax as possible, subject to the law, of course. More specifically, we do these things. Click on the areas below to find out more:
You may have just one job and simple savings and investment income, or you may need to fill in all the boxes of a tax return. Either way, we’re happy to prepare your tax return and submit it online to HM Revenue & Customs.
We'll advise you of your tax liabilities and help you to make the proper payments. The sooner you give us the information after 5th April, the sooner we can complete your tax return and let you know what you owe.
Individual tax returns
We can help you with all stages of running a small business including:
We’re happy for clients to do as much or as little bookkeeping as they wish- we can support you in either spreadsheet based bookkeeping or cloud accounting.
If you don’t want to do your own bookkeeping, we are happy to do it in-house using QuickBooks Online or your preferred accounting software.
Advice and planning for small businesses
Sometimes a limited company is the best vehicle for your business. If this is the case for you, we will help you set it up and offer advice at every stage, including:
Advice for limited companies
Taxes always hurt. But with a little planning they can hurt a lot less. We regularly advise clients on the following areas of tax planning:
You don’t want to get this wrong. We deal with:
VAT and MTD
We operate a payroll bureau for many of our clients that fall into one of the following categories:
Either way, we’ll make sure you comply with RTI and PAYE regulations. We also help clients comply with the new workplace pension legislation (Auto-Enrolment).
PAYE and payroll compliance
It’s not that hard to call yourself an accountant. But to be a firm of Chartered Accountants is an entirely different matter.
We are bound by the ethical guidelines of the Institute of Chartered Accountant of England and Wales. What does that mean?
We’re required to carry out ongoing and extensive continued professional development to make sure we remain up-to-date with the latest legislation and practice.
As ICAEW members, we comply with Practice Assurance – a practice review scheme that ensures the highest standards.
We’re members of the tax faculty of the ICAEW which gives us access to the best current information and expertise on taxation.
We’re also members of the Entertainment and Media Industry Group, so we're on top of key industry issues
The difference between a Chartered Accountancy firm and an ordinary accountancy practice
If HM Revenue & Customs decides to conduct an enquiry into your affairs, it can cost a lot in accounting fees. You should be aware that enquiries can be time consuming and expensive even when there is no significant adjustment to tax.
We usually recommend that you take up our Fee Protection Policy which is offered by an external provider at a reasonable cost. It also gives you access to a business legal helpline.
Our fee protection policy
We’re constantly in touch with all our clients and are keen to help them make useful contacts. For that reason, we’re happy to put clients in touch with each other where there is a mutual interest (assuming both parties consent).
We frequently introduce clients to our mortgage broker and IFA contacts.
© Copyright Farrow Accounting 2019