Most people start up a business because they have a good business proposition, commitment and the enterprise to see it through. However, they may not be experts in the legal and financial aspects of running a business and such matters can often appear daunting.
Fortunately you do not need to be an expert in these fields to succeed in business, but you do need the support of well-qualified and experienced support.
We can help you to:
• Decide on the most suitable form of ownership for your business - Sole Trader, Partnership, Limited Liability Partnership or Limited Company
• Prepare a detailed Business Plan, develop cash flow projections, budgets, and trading forecasts
• Assess your finance requirements, provide advice on the best sources of finance and draw up necessary proposals to secure lending and establish a good working relationship with your bank;
• Complete registration procedures with Companies House and HMRC
• Deal with company secretarial issues
• Set up a recording system for your internal use and for complying with statutory requirements
• Keep on top of bookkeeping, VAT, payroll and other accounting requirements
• Help with all aspects of business compliance and administration
Whether you have an idea that you would like to turn into a potential business or are trying to grow your existing one, Jamal sons associates can help you turn your ideas and dreams into reality with careful advice and planning.
One of our specialist areas is Taxation. Some of our most popular services are income tax, capital gains tax and inheritance tax. We use HMRC approved software to calculate and submit Tax Return. We can advice you in tax related areas and plan the available options with you. We advise client about the different types of tax return such as Short Tax Return and Full Tax Return if necessary. Where short Tax Return is for very simple Tax Affairs and the Full Tax Return is more complex with many different supplementary sections to fill up which are related to the clients. In tax return, we start our work from the beginning to the end of these procedures. We start it from the advising a client to the preparation of a Tax Return.
Lists of the services are given below:
• Assess individuals situation and advise them about Tax Return
• Advice client about the income received from self-employment or a partnership
• Relevant advice on other income such as land and property
• Any other income received in Gross and how to calculate them in Tax Return
• The implications of different tax rate and how to give priority one over another etc. In our practice, we use HMRC approved software to make sure we calculate the TAX Liability correctly.
The process of our work:
• We calculate Client’s Tax Liability
• We complete the Tax Return
• We file the Return online
• Advise the client about the amount to be paid with due dates
We guarantee a fast, flexible and accurate payroll service that removes the pressure and risk of running your own whatever frequency you pay, whatever the size of your payroll.
• PAYE registration
• Weekly, forth-nightly, monthly payroll
• Managing payment to employees/HMRC via BACS
• Bonus, commission and overtime payments
• Guidance on Real Time Information (RTI), auto-enrolment and salary sacrifice schemes
• Complying with maternity and sickness regulations
• End of year returns including P14/P60/P35
• UK payroll provider for overseas/international businesses and UK subsidiaries of overseas companies
Importantly, all our business support services are fully scalable and flexible, allowing you to ‘pick and mix’ from a comprehensive range of services to best suit the needs of your requirements. Moreover, all financial data can be instantly uploaded to Sage Online, a cloud based accounting package that allows you real time access to key financial information.
• Outsourced accounting services
• Weekly/monthly/quarterly bookkeeping
• Management accounts
• Multi-currency accounting
• Budgets and cash flow forecasts
• Processing payments and receipts
• Bureau supplier payments
• Maintaining fixed asset and general registers
• Value Added Tax (VAT) compliance
• Outsourced payroll services
• Company secretarial services
• Credit control and debt collection
• Sage Line 50, Sage Online and Xero
Maintaining accounts for a small business is a time consuming job. Again focusing on calculating VAT could be more time consuming and wasting your valuable time where you can make more money doing your day-to-day business. We can help you with all the given relevant areas:
• Provide VAT Advice
• Help you registering for VAT
• Calculate your VAT
• Prepare and file your VAT Return
• If necessary we can deregister you from VAT
The mostly discussed schemes are:
• Cash accounting
• Annual accounting
• Retailers schemes
• Flat Rate scheme
Our advice to our client regarding VAT:
• Always take your time to prepare your VAT Return
• Never submit VAT Return late
Management Consulting & Corporate Finance
Your professional and personal goals are central to our consulting services; we take the time to get to know you better so we can offer the best advice tailored to your individual requirements.
With our management consultancy service we can review your credit control, stock control, budgeting and financial reporting systems helping you to take full control of these business critical areas. We can also help you identify and address specific problem areas in your business such as margin, cost control, cash management etc.
Effective management information will allow you to seize opportunities when they arise or identify problems quickly so you can take effective corrective action.
Whether yours is a new or a mature business, ensuring that you have the necessary finance is essential for achieving your objectives. Indeed, one of the most common causes of business failure is badly structured or inadequate financing.
We can help you by:
• Looking at the feasibility of your projects; carrying out forecasts and analysis to help you refine and refocus your plans
• Deciding on the most suitable sources of finance - personal capital, bank overdraft, long-term commercial loans and mortgages. We can also help to negotiate as may be required on your behalf
• Preparing business plans, forecasts and models to help you in your decision making process
• Presenting your proposals to your chosen finance source
Corporate finance is all about advising a company, its management or its stakeholders on a broad range of financial issues arising from the growth, development and financial needs of the business and its owners and the demands that the ever-changing economic environment places upon it.
Compliance with financial rules and regulations is an important responsibility of any business. Both large and small businesses often require assistance with this, meaning that the number of accounting positions in this field is increasing. Many of these positions concentrate on tax, focusing on efficient filing of taxes and carefully ensuring that firms don’t pay more than is needed.
• Investigating complaints of customers.
• Monitoring sales processes.
• Advising business on how to maintain compliance.
• Approving advertisements.
• Communicating company policies to other members of the organisation.