Tax Planning
Good tax advice can make a huge difference to your business or personal finances. That’s why Elite Accounting offers specialist tax consultancy services. Our accreditation as a firm of Chartered Tax Advisers provides additional peace of mind in the quality of our advice.
By seeking our tax consultancy expertise, you’ll benefit from our team’s in-depth knowledge and experience in protecting and maximising wealth through effective tax planning.
Your business and personal circumstances are closely linked, so we’ll make sure we look at all aspects of your financial life and understand your current and future goals.
Then we’ll work with you to maximise the options available within the tax regime and minimise your liabilities to ensure the best outcome for you and your business.
Benefit from using our Start-up Accounting Services
So you have decided to start your own business? We can provide Tax Services & Accounting Services for all types of Start-ups. We love working with start-ups with big ambitions and have extensive experience dealing with a host of successful innovative and ambitious individuals and businesses. We have worked with plenty of start-ups from different industries (including tech start-ups & fintech companies) for several years.
Set up a Limited Company in no time at all!
Are you struggling with setting up a new limited company? Our Limited company Accountants will pull you out of the quagmire of receipts and tax fines. There are various different types of limited companies in the UK and choosing the best one for you can often be confusing. Companies can be limited by shares, by guarantee, private unlimited companies, and public limited companies. If you are looking for accountants who specialise in limited companies, will be more than happy to assist you!
Audits
Elite Accounting Solutions provide audit services for clients from a variety of industries and backgrounds. We have a targeted approach for each of our clients, with an aim of making suitable recommendations whilst also providing value for money. Audits can be seen as a bit of a headache, but at Elite Accounting Solutions, we aim to use the results of audits to add value to your business.
Our team of experienced auditors will work closely with you throughout the audit process and will make relevant recommendations in order to find the right solutions for your business.
Management Accounts
Keeping track of your finances is crucial to the well-being of your business because making informed decisions is impossible without up-to-date financial data.
Timely management accounts provide one key source of the financial information you need. Elite Accounting can provide monthly or quarterly reviews of your accounts and use key data identified to help you set financial budgets and targets.
Monitoring your business performance against these targets assists us in identifying ways to further improve your internal processes and management, while timely accounts are also a valuable tool in sourcing business finance.
Cashflow Forecasts
You need to monitor, forecast, and manage cashflow if your business is going to succeed.
Cashflow refers to money coming in as:
- payments from customers
- loans
- investment
and going out of your business in the form of:
- payments to suppliers
- rent
- wages
- and so on.
There might be times of the month or year when trade is slow, and when it is busy. Good cashflow forecasting can make that less of a struggle.
Even if this business is doing well, you might find yourself struggling to pay bills because your customers are late paying their invoices. Cashflow monitoring identifies this kind of problem so you can act.
Payroll
For many businesses, payroll management and staying up to date with ever-changing payroll regulations takes up valuable in-house time and resources that could be better used elsewhere.
By using the payroll service at Elite Accounting, you can be sure that your payroll will be prepared quickly, efficiently and accurately, keeping you compliant with HM Revenue & Customs requirements and deadlines, particularly in relation to the Real Time Information requirements (RTI) introduced in April 2013.
We’ll produce your payroll at the desired frequency, calculating tax and national insurance deductions from your staff, as well dealing with issues including bonuses, holiday pay, pension deductions, statutory sick pay, statutory maternity pay and student loan deductions.
High Net Worth Individuals
Wherever there is more wealth, there're more financial complications associated. To manage the economic issues of high-net-worth individuals, a high calibre of expertise and experience is required in the field.
Best Accountants for Landlords
Personal Tax Return Services for UK Residents and Non-Resident Landlords.
You or your company must pay tax on the profit you make from renting out the property after deductions for'allowable expenses. Elite Accountancy will also advise you on accounting records you need to keep a hold on and guide you on investing your rental gains.
Non-Resident Landlords
A non-resident landlord is a landlord who lets out property in the UK but spends more than six months in the tax year outside the UK. A unique tax scheme - the non-resident's landlord scheme - applies to these landlords. Under the UK non-resident landlord scheme, the tax must be deducted by a letting agent or tenant from the rent paid to the non-resident landlord and paid to HMRC.
CIS Tax Refund
Under the Construction Industry Scheme (CIS), contractors deduct money from a subcontractor's payments and pass it to HM Revenue and Customs (HMRC). The deductions are advance payments toward the subcontractor's tax and National Insurance. Contractors must register for the scheme.
Contractor Accountants
We have specially designed accounting packages for the contractor due to high demand. Elite Accounting Solutions is currently working with several contractors from different industries such as IT, Designers, Locum, Engineers, Oil & Gas, Project Managers, Finance & Management Consultant, Journalists and many more.
Bookkeeping & VAT Returns
Effective bookkeeping is at the heart of every efficient business, providing you with timely information on exactly where you stand with your financial commitments.
Elite Accounting offers an expert, professional bookkeeping service that includes keeping records of all your payments and receipts up-to-date and maintaining your VAT records.
Because we’ll be keeping track of your bills and invoices, you’ll be able to make payments on time, helping you to stay on good terms with suppliers, and to chase any payments that are at risk of becoming overdue.
Whether you need weekly, monthly, or quarterly bookkeeping services, we’ll provide an efficient, accurate service, designed to streamline the preparation of your annual accounts.
