How it works
How it works
We provide easy to use Mac or PC friendly software known as FreeAgent and full on-line training in its use. All you have to do is fill in basic information like the number of hours you work and your expenses, and we do the rest. The package has been put together based on the requirements of the majority of our clients, but we are happy to discuss any additional services you might need and offer you a different solution, if required. Here’s what’s included in our standard package:
- Simple online accounts package
- Quarterly VAT return prepared and filed online
- Year-end accounts completed, agreed and submitted
- Filing of CT600 company tax returns
- Monthly payroll calculation and RTI filing
- All statutory Companies House filings, including Annual Return
- Registered Office service available for £50 p.a., if required
- Reference letters (for rental, mortgage and financial applications, etc.) from £25, if required
- Self-assessment personal tax return available from £100 (basic return)
- NO HIDDEN EXTRAS
Easy online operation
We set you up with your own secure online portal, which allows you to:
- Input new contract details, edit existing contracts and view all current contracts. Invoicing weekly or monthly is then a very simple process where you input your time worked and the software will then generate the invoice for onward posting or emailing. If set up to, the system will even email your invoice automatically once you are happy that it is complete. The programme also helpfully provides a section for you to claim any reimbursements such as train travel outside your agreed contract rate. If you are VAT registered, VAT is automatically added to your Invoice total.
- Store any details relating to your company such as directors and shareholders.
- View your earnings to date and monitor your personal tax situation.
- Calculate your “real time” profitability and calculate what is available from your company for distribution as a dividend.
- Record expenses and review your expense history.
- Access a library of useful information related to your own business or general guides on areas like self-assessment.
As a company director you have certain responsibilities when it comes to filing documentation with both HMRC and Companies House and paying your taxes. We’ll keep you informed of due dates during the trading year and advise you of what needs to be sent and when, and who and how much needs to be paid. In most cases, we prepare all forms for filing and even file them on your behalf with the appropriate authorities.
Our sophisticated accounts package software allows you to view your real time Profit and Loss and Balance Sheet so that you can determine exactly how much is available for a dividend. It’s a very easy and intuitive system, which is updated in real time so you always have the latest information at your finger tips.
Before you start using the system, you will need to set up a Direct Debit to pay us in advance of every month. We will provide you with details of where payments should be made.
We understand that every contractor’s business is unique and while our package comprehensively accounts for most of your company’s statutory obligations there may be other areas where you’d value our support. Contact us to discuss your requirements and we can provide you with costs. E.g.
|Complete your Personal Tax Return (SATR);||£100 per director/shareholder|
|Registered Office service;||£50 p.a.|