B W Whiffin and Co Ltd

As well as general accountancy and tax skills, our staff also have specialist skills which enables us to provide clients with a premium service as and when required.

In addition to traditional accounting and tax services we also provide advice on how to improve and develop your business. Whether you need an integrated business strategy, access to corporate finance or specialist tax advice we are here to help you achieve your goals.

Over the years, we have developed an excellent reputation for a prompt, reliable and professional service giving you that peace of mind that all of your financial requirements are in good hands.

We pride ourselves on client relations and we are always available to take a phone call. We are always happy to see clients whether it be for a meeting, bringing in records or just a word of advice.

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Accounts

Our accounts service provides…..

Preparation of accounts to help in completion of self-assessment tax returns;

Production of financial statements to file at Companies House and abbreviated accounts to ensure the minimum amount of your financial information is made public.

Accounts are prepared to agreed timescales and deadlines.

But we can do more than just report the history of what has already happened…

Identify areas where we can assist in minimising your tax liability;

Identify areas of the business that give you the most opportunity to make improvements;

Use the accounts to help you measure where you are in meeting your goals and what actions you need to take.

We take the time to explain your accounts to you so that you understand what is going on financially within your business, helping you to plan for the future.

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Management Accounts and Information

Up to date, relevant and quickly produced management information allows you to make the right decisions.

Our management accounts and information services include…

Monthly or quarterly management accounts;

Reporting of key performance indicators that are the underlying drivers that run your business;

Help with in-house systems for you to produce your own information;

Training on how to get the most out of your information;

Supplying management information to lenders;

Actual performance compared to budget and/or comparative periods

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VAT Returns

Compliance with VAT is complex. Investigations by HMRC can be intense – all the more important that your VAT returns are completed correctly.

There are three methods we can use to assist in completion of VAT returns…

Let us do your book-keeping and we complete the return from there;

Give us your books and we will complete the return for you;

Provide training on how to complete your return.

We complete VAT returns in good time to ensure you avoid any penalties.

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VAT Registration

For VAT registration we can assist with…

Advising if you need to or if it would be beneficial to register;

Completion of the VAT registration forms and formalities;

Advising on the best VAT schemes to use suitable to your business – some you have to notify HMRC you are using and some you do not.

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Company Secretarial

Ensuring that your company is legal and that the interests of shareholders are properly protected may not be the highest item on your list of business priorities. Get it wrong however and you could be on the receiving end of an order to strike your company off the register at Companies House or worse. We can help you fulfil this role and offer the services of a Chartered Secretary to undertake the following and more.

• Registered office facilities;
• Maintenance of statutory registers;
• Submission of statutory documents;
• Giving notice of General Meetings;
• Drafting agendas for company meetings;
• Preparing Minutes of Meetings;
• Completion of share transfer forms;
• Preparation of share certificates;
• Carrying out company searches;
• Filing of Annual Return;
• General Company Law advice;
• Advice on protection of minority interests.

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Payroll

Everything seemed fine running your own business until the day you took on your first employee and became an unpaid tax collector. This is when you found out what red tape was all about.

Let us take the strain away from you and let you get on with running and growing the business. Payroll is complicated and has to be done on time and you as the employer are responsible for the mistakes.

We run payrolls on time and can provide a tailor made service for your business including…

Employee payslips;

Monthly summaries;

Departmental reports;

Dealing with leavers and starters;

Provision of analysis of staff costs;

PAYE returns for the Revenue;

Assistance with automated payment set-up to your employees;

Auto enrolment.

You will never have to worry about calculating statutory sick pay or maternity pay and dealing with tax credits and student loan deductions ever again!

And at year end…

Employer end of year return;

Employee summary P60’s and P14’s;

P11D and P9D benefit and expenses returns.

And the related tax planning advice…

Beyond the payroll compliance service, we offer comprehensive advice on all employment tax issues including…

Tax efficient remuneration strategies;

Planning for retirement;

Termination payments;

Inducement payments;

Company car and van strategies;

Benefits planning.

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QuickBooks

We are QuickBooks Professional Advisors and have used QuickBooks for over 20 years. We have trained people in its use and we use it every day in our business. Why not email us now and find out how our training can help your business prosper.

We can offer whatever you need from system installation onwards. For larger businesses we specialise in fine tuning the system to get exactly what you want from reports and documents. We can either come to you and give you only what you have requested or we can fix things over the internet if you so wish. This saves you money and time. If we notice anything along the way we will be sure to tell you.

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Troubleshooting

We often get calls from people who through no fault of their own have run into accounting problems with the use of QuickBooks. We offer a service which either entails a personal visit, internet intervention or you can come to us. We guarantee to get you out of the situation in which you find yourself. This is not a sticking plaster approach; you get full examination, diagnosis and remedial action.

What do you get?

• You get a real, live, accountant
• Who is an expert QuickBooks Professional and user
• Who really understands accounting systems and how they should work
• Who knows what to look for and recognises when things are wrong
• Who will work quickly and effectively to save your time and money
• And knows how to fix things properly

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Company Start Ups

With our combined years of experience, we can provide extensive direction and advice on starting up a business to ensure that the process runs as smoothly as possible and hassle free for you.

Whatever the size of business you are considering starting up we can provide vital advice on the form the business should take, sole trader, partnership, LLP, limited company, PLC.

• Company formation packages can include…
• Advice on the pros and cons of incorporation in your own situation;
• Appointment of directors;
• Appointment of company secretary;
• Issue of subscriber shares;
• Registered office services;
• Completion of all necessary minutes and resolutions;
• Assistance in opening a bank account;
• Tax review with regard to company formation – forming the company yourself and  getting this wrong can be very costly.
• VAT registration;
• Company registration for Corporation Tax;
• Set up of Company PAYE scheme;
• Book-keeping set-up advice;
• Business plans;
• Assistance with raising finance.

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Tax Returns and Self-Assessment

Tax Returns can be completed for…

• Individuals and sole traders;
• Partnerships;
• Limited Companies.
• The self-assessment regime is full of penalties and HMRC enquiry powers are extensive. It is important that…
• Returns are correctly completed;
• They are filed on time;
• All backup records are retained for the appropriate period of time.
• As well as the completion of your return we can assist with…
• Advice on your tax liabilities;
• Negotiating with the Collector if necessary;
• Identifying suitable tax planning opportunities;
• Completing all the necessary tax computations;
• Dealing with all correspondence from HMRC, taking the worry away from you.

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Inheritance Tax Planning

Tailored wealth succession planning enables a smooth transition to the next generation as well as minimising tax liabilities.

We can advise…

Individuals whose estate planning is close to the nil rate band or many times larger;

Techniques to mitigate inheritance tax on family homes, family businesses and investment portfolios;

On both lifetime transfers and wills.

However, estate planning is not solely about tax and we adopt a common sense approach, helping you to ensure your own financial needs are met and to avoid “giving away too much too soon”.

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Personal Tax

Need help with your Tax Return or want to pay less tax?

Personal tax services are available both for business owners and private individuals including…

• All aspects of Self-Assessment;
• Dealing with Tax Returns;
• Computation of liabilities;
• Correspondence with HMRC;
• Inheritance tax planning;
• Inheritance Tax angles.

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Tax Planning

You are entitled to arrange your affairs to pay the absolute legal minimum amount of tax.

Whilst completion of tax returns and statutory tax obligations are important jobs, all accountants should be capable of completing them and advising you of your tax position and liabilities.

We try to do more than just this and are interested in maximising your tax planning opportunities.

We all have to pay our taxes but within the legal framework there are numerous ways of saving tax and making sure you do not pay a penny more than is absolutely necessary. We have extensive experience in this area of work and always fight as hard as we can for our clients.

We can help with tax planning in relation to…

• Personal taxes;
• Business taxes;
• Tax efficient employee remuneration strategies;
• VAT planning;
• Inheritance Tax strategies;
• Capital Gains;
• Profit extraction strategies;
• Exit strategies;
• Employment status;
• IR35 advice.

New clients are often surprised at how much can be done to help with their tax position. We are always willing to go that extra mile to offer advice on the areas where tax can be saved.

It is important that this work is done in advance and you should contact us as soon as possible.