Many small business owners prefer a one-stop shop for services such as websites, financial matters or marketing. After all, we’re busy people who don’t have time to waste chasing several different people for the help we need.
Here at Safehands, we’re proud to be know as more than just limited company accountants! We provide a jargon-free solution for ALL your financial needs; including some you may not have considered before.
As a director of a limited company there are a range of accounting services you might need, which could begin with something as simple as monthly bookkeeping. This helps keep your finger on the pulse of your business and turns that box of receipts thrown into a shoe box into an ordered set of data that you can make sense of.
Annual accounts preparation
Once your monthly bookkeeping is up and running, you might find you need help with your annual accounts. Many business owners feel they need help with getting this right, because the cost of getting it wrong can be big – both financially and time-wise. At Safehands we’ll take care of everything from filing with Companies House or HMRC to preparation, reviews and discussion so you know exactly what’s going on and can take advantage of early tax planning opportunities.
Imagine your business is running smoothly, profits are increasing, your business is expanding and you’re VAT taxable turnover is more than £83,000. Now you must register for VAT and this is another service we provide. VAT is possibly the most complex tax levied on your business, so we’re on your team to ensure you do not pay more than you need to. We’ll help with everything from setting yourself up to negotiating with HMRC on your behalf.
Bookkeeping, annual accounts preparation and VAT returns may well be services you are aware of, but we can help with further ideas. Not only do we provide accounting services, but we provide financial services too. While you might not be thinking about your retirement, as with all things, it’s good to plan in advance. Did you know, for instance, that your pension could provide you with a fantastic way to extract cash from your business in a tax efficient way? You can think of a pension contribution a bit like a tax-free salary that you don’t get straight away.
Additionally, while none of us enjoying thinking about the morbid things in life – like the necessity for Life Insurance- directors of a limited company can pay life insurance contributions as a legitimate business expense. Read more about tax deductible limited company expenses with our blog post on Relevant Life.