Account Preparation

There are several factors we take into consideration while preparing annual accounts for our clients to make it a simple and cost-effective process. We prepare your reports to ensure accuracy, minimise tax liabilities, and much more to give peace of mind to our clients.

In the UK, submitting annual accounts is a statutory requirement for businesses. These must be presented annually to Companies House.

Filing the first accounts with Companies House must be done within 21 months after the date you registered with Companies House. Publicly traded companies are expected to file reports at more regular intervals (as per the rules of HMRC involved). If a company fails to file accounts by the deadlines, Companies House can issue penalties and fines.

The Director’s Report The report summarises the principal activity of the business and information about directors. It also contains the approval of the signatory director. Profit and loss account and Income statements Direct costs, operating expenditures, taxation, write-offs (e.g., depreciation/amortisation of different properties, bad debts), and other incomes or losses (e.g., interest, currency gain/loss) are all included in the profit and loss statement. Financial statement

A statement of financial position or a balance sheet is a list of an entity's financial balances. It is basically a "snapshot of a company's financial status." The three parts of a traditional company statement of financial status are assets, liabilities, and equity and are listed as of a given date.

Our experts will prepare your company's financial statements that will be accurate and detailed. Our work will give you peace of mind that you have been longing for when it comes to paying HMRC the correct amount of tax.

Furthermore, business decisions based on the reports we prepare are so much better. Business owners who try to prepare their accounts themselves to save money are often penalised with fines and interest or refuse to claim all permissible expenditures due to a lack of information that results in a much higher cost.

What services do FBS Account Preparation services include?

1. We prepare annual accounts under accurate accounting standards.
2. We use your business’s financial records to prepare both the accounts and corporation tax returns.
3. We send reminders ahead of deadlines to give you the time to collect all quarterly details needed, including guidance on the projected corporate tax liability.
4. We apply the correct depreciation or amortisation form.
5. We offer quarterly guidance on minimum wages and dividends so you can get the most out of your income without paying extra taxes.
6. We send your records to directors for approval before submitting them to Companies House and HMRC.
7. We work with you to field any questions HMRC may have about a set of accounts or company tax return we’ve prepared and resolve disputes.

Our packages (INSERT accountancy package)

Please note that the price of our account preparation services varies depending on the exact services you require.

Get in touch with our team for a quote on our Accounts Preparation Services today.

Payroll

FBS Accountants has helped hundreds of clients with specialist, cost-effective payroll services. We specialise in handling all aspects of the payroll process, from learning and training staff on payroll systems to printing and distributing pay slips, creating tax documents, and more.     

Why does keeping track of your payroll costs you and your employees so much time that you can’t focus on other business cores? Sign up for payroll services in the UK with us and have your payroll needs meet online using stable, high-performance software.   

What are Payroll processing and Payroll management?    

Any corporation or business with workers must have a payroll system that ensures employees are compensated for their efforts on time. Payroll is a simple process, but it entails several activities, like ensuring that each governing department is paid the correct amount of money and withholding taxes from each paycheck.    

Filling out payroll information incorrectly, filing taxes improperly, or missing payroll deadlines as a small business owner can result in undue stress and severe consequences.    

Outsourcing payroll services just makes sense – delegating this work to us frees up your time, gives you one less thing to keep an eye on, and reduces problems on payday.   

How do FBS Accountants work?    

Payroll processing and administration are complex and time-consuming because it needs to capture all available data. As a small business owner, it should be your priority to ensure that your payroll system recognises all regulatory complexities and that you pay your employees on time. Managing your payroll system can be difficult because you have so many other obligations in the company.   

Our payroll system is designed to manage and file employee payments and taxes, allowing you more flexibility. We will tailor a system that meets your company's cultural and organisational needs, like time monitoring, salary estimation, tax deductions and withholding, paying government taxes on behalf of workers, and printing and distributing paychecks.    

FBS payroll experts work online with you, so you keep the system up to date by entering employee hours and salary details, and it can calculate wages automatically. We'll assist you in managing your payroll system and amend it on your behalf if the legislation changes. We will also fill out your tax forms on time to prevent penalties.    

The benefits of having FBS handle payroll   

Maintain your payroll system   

We ensure you don’t make mistakes when tracking employee work hours. We aim to provide accurate data entry to avoid incorrect tax returns and penalties. Our payroll calculator speeds up payroll estimates by sorting payroll taxes and deducting student loans, sick days, and other deductions. Pay slips are printed and sent to HMRC. We also provide automated end-of-year reports.   

Save time   

Payroll processing needs to be done right but shouldn’t be a distraction from growing your business and doing what you excel at. We save you valuable time so you can focus on other essential tasks like sales and marketing, customer service, and workflow productivity.    

Increase data security   

Processing and handling the payroll in-house carries several threats, including identity fraud, money laundering, and interfering with confidential files for personal gain. There's also the network or server device risk beyond employee data. Your payroll system is vulnerable to data theft if your server or network system has security vulnerabilities. Letting us handle your payroll processing system allows your sensitive information, like pay stubs and annual reports to be in a safe and secure location.   

Our outsourced payroll solutions are delivered to businesses across the UK. Contact us today at +44 20 7866 2412 or via the contact form.

Bookkeeping

Keeping track of your accounting records can influence your company's success, and most small business owners need help keeping track of everything. The accuracy of your financial books determines the success of your small business. Accounting records with errors can prevent corporate shareholders from losing faith in the company.    

If you want to take the stress out of managing your bookkeeping, consider hiring an online bookkeeper to help you manage your daily account transactions so you can focus on other responsibilities. Small businesses are hesitant to outsource these services, but FBS Accountant provides customised bookkeeping services for small businesses.    

The FBS bookkeeping process   

Why should you hire FBS accountants’ bookkeeping services?   

FBS bookkeepers are careful, precise and detailed and are known for bringing order to what can quickly become an overwhelming tidal wave of paperwork. We provide a transparent, structured, technology-led approach built around your business. We manage all essential responsibilities for your small business, including payroll administration, tax services, cost analysis, basic bookkeeping, uploading sales and expense receipts, raising invoices and checking reports.   

Let us help get your bookkeeping right the first time with our latest cloud systems and uncompromised data security, so you feel more in control and focus your time and energy on the aspects of running your business that excite you. We are your go-to accounting service supplier if you need double-entry bookkeeping in the UK. Our team consists of highly skilled and experienced accountants who guarantee that your business' future transactions are correctly recorded to provide transparent financial statements.    

When you choose us to address all your accounting and bookkeeping needs, we'll be able to give you special reports to help you make better business decisions.    

Our bookkeeping services are available to clients in London and online services to businesses across the UK. To get started, call us today on +44 20 7866 2412 or via the contact form.

Tax Advisory

Tax can be an enormous burden, a source of confusion and the cause of massive stress when handled poorly. FBS Accountants allows you to meet all your statutory obligations without getting lost in the dark. Our cost-effective and time-saving solutions ensure our clients and businesses are fully compliant and minimise all taxes.   

In many cases, the tax system can even give businesses a leg up, especially in the creative and technology sectors, because the Government offers valuable tax relief to boost specific industries. We provide practical advice and compliance help to businesses in all areas of taxation, company law, and accounting. We can prepare and submit your VAT Returns, manage PAYE National Insurance and Taxes, Corporation Tax, CIS Returns, Self-Assessment Tax, and all other taxes.   

What do we do as tax experts?    

• Help in preparing tax returns, payments, and reports while keeping current with industry changes, tax rules, and regulations   
• Help clients and internal company divisions with a thorough understanding of company processes and tax information requirements   
• Identify tax savings and recommend profit-boosting strategies   
• Identify solutions to challenging tax issues by assessing and researching    
• Ensure all financial operations and records adhere to generally recognised accounting principles   
• Provide tax forecasts to senior management   
• Provide assistance  

Our tax specialists use their extensive experience and industry knowledge to provide clients with insights and innovation to add value to their businesses. The corporate tax, structuring, human capital taxes, stamp taxes, VAT, and capital gains tax are some of our strategic tax planning specialities.    

FBS Accountants recognise the necessity of timely tax filings. Our tax investigation team can advise you, negotiate with HMRC, and defend you before tax tribunals during a tax disclosure, dispute, or investigation.    

We offer a range of tax advisory services. Contact FBS Accountants today at 0204 256 5195, and one of the staff members can help you.

Corporation Tax

Ensuring your company is tax compliant is vital to operate legally. All limited corporations must pay corporation tax calculated on the profits made by the firm. These profits are any money left over after deducting costs and expenses or the amount left over after overheads, wages, and other expenditures incurred in doing company, such as raw materials or marketing costs.    

It's a never-ending challenge to ensure your company is tax compliant and as tax effective as possible. FBS Accountants provides corporation tax assistance to businesses in the United Kingdom.    

With our help, you can concentrate on operating your core business and accomplishing your long-term growth goals while maintaining complete control and making educated decisions. There isn’t anything more important than filing accurate corporation tax returns on time, and that’s what FBS corporation tax accountants specialise in making happen.   

We’ll work with you and ensure your company can take advantage of all available funds and reliefs, including Capital Allowances, R&D, deferment opportunities, etc. We will swiftly handle all statutory corporate tax compliance difficulties and guide you in reducing the tax you pay.   

What do we do as tax experts?   

• Provide returns and calculations on a computerised basis   
• Ensure remuneration planning is tax efficient   
• Examine capital allowances like annual investment allowance (AIA) and enhanced capital allowances (ECA)   
• Help in tax planning for the future   
• Manage buyouts and company sales   
• Provide incentives to staff   
• Register with the EIS   

Talk to a corporate tax consultant at our office in London or online if you’re based elsewhere in the UK. Drop us a call on 0204 256 5195. today.

VAT

VAT is a transaction tax, and as such, it is likely to affect your business daily. All companies must follow the ever-changing VAT requirements to keep maximum cash flow and profitability. VAT is a complicated tax that affects businesses in the United Kingdom and the European Union.   

What is VAT?  

VAT (Value Added Tax) is a consumption tax levied on a product whenever its value is increased, whether during the manufacturing process or at the point of sale. The taxpayer must ensure that the correct tax is paid at the right time. HMRC conducts inspections at various periods, and finding an unpaid VAT mistake might result in an assessment that goes back four years or more, including interest and penalties. Our tax accountants in London, UK, can assist you in managing your VAT returns and ensuring that you follow the rules.   

What do we do as VAT experts?    

FBS Accountants offers a full range of VAT-related services, from VAT registration through dispute resolution to submitting returns. From initial VAT registration, we support our clients in choosing and administrating the correct VAT scheme for their business from Flat Rate, Cash Accounting, Margin Schemes, Partial Exemption, or other applicable procedures.    

As VAT experts, we have experience in the following:    

1. Advising some of the UK's leading real estate businesses and urban developments.    

1. Helping companies in the fintech and insurance industries to maximise VAT recovery in the UK and create adequate worldwide expansion arrangements.    

VAT returns might be complex for a VAT-registered company to complete, but FBS Accountants can ensure that your VAT return procedure is free of difficulty, hassles, and risk. We also offer VAT health checks for your company.    

Our VAT Services   

• Assist you in determining whether your company must register for VAT   
• Assess if it can save money or give long-term benefits for development if you're considering voluntary registration   
• Help with VAT returns or guidance on any other VAT-related issues   
• Advise on approaches to VAT that might benefit your business, like cash accounting, flat rate, or margin schemes   

We will complete your VAT registration and review while considering all your concerns and doing all necessary inspections. Let us know how we can assist you by dropping us a call at 0204 256 5195. today. 

Personal Tax

Seek professional counsel and help safeguard your – and your family's – future for years to come with FBS Accountants. We can assist you in inheritance reception, purchasing your first house, and managing all your tax affairs correctly.    

Our tax service is digital, making it efficient, accessible, and inexpensive. We aim to provide high-quality, personalised tax advice based on your needs. FBS Accountants in the UK can assist you through a review of your tax issues so you can gain confidence in your tax affairs as the UK tax system gets increasingly complicated.    

FBS Accountants covers all personal tax and compliance matters under Self-Assessment. Our team is here to guide and advise on all aspects of personal tax, including income, capital gains, inheritance tax, and more, to help minimise overall tax liabilities at a price you can afford. Our tax professionals will help you manage your money, protect your family's wealth, and avoid needless personal tax obligations.    

Our Personal Tax Services    

We provide personal tax services to various enterprises and people in the UK as tax accountants.   

• Landlord taxes for residents and non-residents    
• Personal tax returns for a wide range of income    
• Filings for domicile and residency    
• Family business tax planning  
• Personal tax investigations    
• Support loan charge help   
• Services for advanced taxation    
• Taxation services for corporations    

We have the experience and expertise to assist you with any personal tax issue or concern. Please tell us how we can help you by calling us on 0204 256 5195.

Income Tax

When dealing with income tax, our team prioritises understanding our client’s financial affairs, family circumstances, and personal finances to tailor our services to their needs. Our financial advisors are on duty to guide and advise on all wealth management, lifetime tax, and asset planning inquiries. We work to reduce your tax responsibilities however feasible while preparing and filing tax forms.     

Our Income Tax Services    

We collaborate closely with financial services advisers to advise on asset management concerns and tax and wealth planning for the long term. Our income tax service covers:    

1. Assessing your personal tax affairs to ensure that you comply with all regulatory obligations and advise you on the most effective method to reduce tax while increasing your income   

1. Assisting you in gathering the information you will need to file your self-assessment tax return    

1. Putting together and submitting your self-assessment tax return    

1. Calculating your tax obligations for the year as well as your account payments    

1. Using HMRC's online service to file your tax return    

1. Assisting with tax payments and repayments.    

1. Contacting HMRC on your behalf to agree on your tax status and to address important topics    

1. PAYE coding notices are checked and agreed upon.    

A yearly evaluation of your income tax situation will guarantee that you are not subject to HMRC fines or penalties. Making pension payments, offering gift aid payments, equalising income between spouses or civil partners, and investing in the Enterprise Investment Scheme are all strategies to decrease your income tax liability. Our expert tax services will keep you one step ahead by identifying what you need to do to reduce your income tax burden.    

If you require a Tax Accountant in the UK for income tax returns or self-assessment, please contact us, and we will respond as soon as possible. Please tell us how we can help you by calling us on 0204 256 5195.

Capital Gains Tax

When you sell or forward an appreciated private asset, if you own a corporation, one of the many taxes you must be aware of is capital gains tax.    

What assets are taxable?    

The term "chargeable assets" refers to assets subject to Capital Gains Tax. Chargeable assets in the United Kingdom include:    

• Investing in stocks or bonds that are not held in an Individual Savings Account (ISA) or Personal Equity Plan (PEP)    
• Any land that is not your primary or only residence   
• The majority of personal belongings are valued at over £6,000. This may include jewellery, antiques, artwork, or collectables, but it rarely includes automobiles.   
• Vehicles, land and property, equipment, and registered trademarks or any business property    

All individuals, corporations, and multinational corporations in the UK require advisors who will assist them in determining their Capital Gains Tax return. Anything from gifts to insurance claims for properties has CGT consequences. It is a vast area of taxation that encompasses anything from an individual's principal private residence to chattels and partial dispositions, from paintings and moveable properties to fixed assets and land.    

Note: All purchases in the United Kingdom are subject to CGT estimates in some way. Selling real estate, business properties, and even gifts, capital gains will result in significant liabilities for you.    

It is essential to consider the plans ahead of time and arrange them to minimise liabilities regarding CGT planning.    

Capital Gain Tax Guidance for Limited Companies:    

Limited companies face the consequences of CGT as a share disposal, necessitating tax, finance, and sharing capital accounting knowledge. Concerns like component disposal require the assistance of trained and knowledgeable advisors. When a company is involved in an accident, it is necessary to consider the Capital Gain Tax effects of the insurance claim. FBS Accountants can help you reduce your tax burden.    

Why choose FBS Accountants    

Since the Capital Gains Tax refund should be charged to HMRC in instalments, there are problems in preparing the instalments. These instalments should be planned with the whole scenario of chargeable individuals in mind. These issues require a team of Accountants and Tax Advisors who have a diverse understanding of all the issues related to Capital Gains tax returns and experience dealing with HMRC. It also needs a knowledge of various markets and institutions, including trusts and political parties, which the trades contribute to Capital Gains Tax. This is followed by understanding specific unique asset and antique valuation instances that result in capital gains tax.    

FBS Accountants has a team of tax advisors and expert accountants who can handle all your CGT-related matters effectively and efficiently while respecting your status as a responsible UK taxpayer.    

Need capital gains tax experts in the UK? Please contact us, and we will answer as soon as possible. Let us know how we can assist you. Call us on 0204 256 5195.

Inheritance Tax

Inheritance Tax (IHT) is a tax imposed on a deceased person's assets, including all their land, belongings, and money. Even if you don't have any Inheritance Tax to pay, you must always report it to HMRC. Inheritance Tax can include some wealth distributed before death, especially in the seven years preceding death. Generally, it is always sensible to seek advice and monitor significant transactions as almost all Inheritance Tax can be prevented by careful estate management.    

Inheritance tax is often referred to as a "voluntary donation" because of the tax planning options available. Having a Will and preparing for inheritance means you have power over your wealth and how much tax is charged. It also ensures you don't leave loved ones with administrative headaches, prevent family feuds, and possibly sell off family properties to cover unforeseen tax bills. You can do many things with the proper preparation to pass on as much money as possible.    

Who handles paying the inheritance tax?    

If there is a will, the executor of the will usually pays the Inheritance Tax (IHT). The estate administrator handles this if no will is left behind. Inheritance tax may be charged from the estate's funds or earnings from selling assets.    

Why choose FBS Accountants     

HMRC's claim on your assets may be reduced by structuring your estate tax-efficiently, allowing your loved ones to earn more of your money. This will minimise the need for your heirs to rapidly sell your assets to pay inheritance taxes. It can also help them save time and money by reducing the paperwork they have to deal with and avoiding expensive HMRC conflicts.    

Our services allow investors to invest in the shares of one or more unquoted UK businesses contributing to the country's economic development and aim for a consistent, predictable, modest return.    

We choose businesses eligible for Business Property Relief (BPR), a government-approved exemption from inheritance tax. If the investment has been kept for at least two years at the time of death, it may be passed on to the beneficiaries tax-free.    

Our Inheritance Tax Services    

Our inheritance tax preparation services include:    

• The use of trusts in IHT preparation and the impact of capital gains tax (CGT)    
• Putting life planning into action     
• Current IHT exposure and make recommendations for IHT prevention strategies    
• Will clauses that are tax-effective    

After evaluating your assets and family circumstances, our inheritance tax specialist will determine your contribution to inheritance tax. Don't hesitate to contact us if you need other details or assistance from one of our tax experts. Call us right now on 0204 256 5195.