Get an accountant and a bookkeeper for one competitive price-

Accountancy Champs, the Chartered Certified Accountant UK, provides Accountancy, Bookkeeping, Tax and Payroll services at competitive prices to entrepreneurially-led owner managed businesses that are small, medium and large businesses based local, national and international.

It offer a wide range of services for e.g. limited company formation, company secretarial services, tax consultancy, Bookkeeping, Business start-up packages, Inhouse Accounts Department, Accounting Software, Annual Accounts, Personal Tax, VAT Reclaim, Cash Flow, Credit control, Consultancy, Payroll, Company Formation, Training, Contractor Solutions, Self Assessment, Tax and CIS Rebate, Assist with HMRC Investigation, Budgets, Audits, Access to Business Finance, Business plans, Finance Director/Manager on Demand, General Business Advice, VAT, Corporation Tax, NI Rebate, Management Accounts, Forecast and HR services.

With over 15 years extensive commercial experience, working for businesses like yours, you get real advantage over other firms of accountants, many of whom have only ever been accountants and never been in the same as the small business man.

Accountancy Champs helps entrepreneurs create, protect and enhance personal wealth, and also give directors and shareholders the assurance they need to manage their organisation effectively and the proactive support they demand to help them stay ahead of competition.

Accountancy Champs work with clients who have a desire to grow their business save tax, reduce tax bill, improve cash flow and improve their profit margin.

Accountancy Champs team comprise of 2 Partners.
Accountancy Champs founding partners are FTSE 100 trained ACCA qualified accountants with over 15 years experience working for household names in the CITY OF LONDON.

Partners’ skills and experience are broad and varied in bookkeeping, VAT, corporation tax, annual accounts preparation, payroll, management accounts, budgets, forecast, tax saving initiatives, improving cash flow, profit margins, Self assessment, Consultancy, IT audits, Risk and assurance, Personal tax, Corporation tax and training having worked from entry level accountants to senior management positions managing teams of accountants at various levels and reporting to Board of Directors. Household names fall within the following industries and are not an exhaustive list:

Asset management
Corporate finance organization
Investment banking
Private banking
Insurance
IT and E-Commerce
Top 3 Accountancy Firm
Consultancy
Publishing and Media
Recruitment
Marketing
Manufacturing
Travel and Tourism
Various other service industries

Accountancy Champs’ current team comprise of a strong team of bookkeepers, accountants and payroll staff at various stages of their professional accountancy studies. The team member includes the members of the Institute of Bookkeepers, Institute of Payroll, CIMA and ACCA.

The team has broad skills and very good industry knowledge as a result of working for a range of industries.

Accountancy Champs are specialist for the following business categories Business Start up, Sole Trader, Limited companies, Limited Liability Partnerships, Partnerships, PLC, Charity and not for profit organizations.  Clients include those in Manufacturing, Retail, Building and Construction, Transport, Property, Financial Services, IT and e-commerce, Marketing, Recruitment, Hospitality, Catering and Tourism, Medical and Healthcare, Food, Professional practices, Rural and Estates, Social Housing, Education, Entertainment(Media and Sport), International clients, Entrepreneurial and OMB, Consultancy, Aim Listed, Mid Corporate, Services industries, Garages/Automotives.

At Accountancy Champs, our accountancy teams are friendlily, approachable and our doors are always open.

http://www.accountancychamps.co.uk/

Use Tax Accounting Software to Product Tax Income!

Tax accounting software has three elements. Accounting being the production of the financial accounts in a template format suitable for the tax system. Tax and tax software denotes the inclusion of the tax rules with software being a description of the fact that the process is automated.

Self employed accounting

To be most effective the self employed accounts should be in a format that can eventually be used by the accounts program to produce the financial information required to complete the tax returns. Tax returns vary in individual countries and the tax accounting software shpould account for all variations.

Database accounting software is frequently based upon a chart of accounts which is not necessarily tax return friendly. Accounting template spreadsheets being more fixed in nature do offer an opportunity to be tax friendly.

A means to distinguish between revenue transactions and fixed assets is required as fixed assets are subject to capital allowances which written off against the net taxable profit according to the tax rules as opposed to being able to deduct the whole cost of that asset in the one financial year.

Income Tax and Vat Tax Return Software

In the UK the self employed accounts need to supply the numbers for up to three different variations of the self employed tax return. With effect from the financila year 2008-09 the self assessment tax return has been replaced with the self employed tax return short and full versions.

The short tax return is completed according to the sales turnover of the business. Less detail then the full return is required with only totals required for businesses with a sales turnover under 30,000 pounds.

Where sales exceed the vat threshold the accounting package has to produce vat tax returns. For more details visit to www.pure-profit-software.com with various types of vat schemes available the accounts package and tax software should be capable of dealing with different vat schemes.

Database accounting packages invariably have the facility to deal with value added tax and various schemes where other types of accounting software may be limited. Tax accounting software is a serviuce provided for the self employed client and must meet that clients requirements.

Tax Software

To be effective in satisfying the description of tax accounting software the system should also include the tax rates and rules applicable. For more details visit to www.software-designers-pro.com the tax accounting can then take those tax rates and produce an estimate of the potential tax liability which is a principal concern of all self employed business when the time for filing taxes approaches.

The term software indicates automation based upon data input which the computer package then processes to produce the desired output. Tax software produces the tax requirements of the user.

A tax accounting software package takes the prime financial transactions, converts those numbers to the format required to produce the year end self employed tax returns and quarterly vat returns as required. In addition the tax software function would also use the tax rates to automatically calculate the income tax and national insurance liability.

New York Times reporter David Cay Johnston asked IRS Commissioner Mark Everson, “What law requires Americans to file or pay income taxes?” His answer: Blah blah blah blah blah; dodge dodge dodge dodge dodge. The IRS Assistant Commissioner’s answer: Blah blah blah blah blah; dodge dodge…
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Basic Accounts Bookkeeping At Home Saves Assessment Tax

The financial benefits of preparing basic accounts bookkeeping records and producing the self assessment tax return can be overlooked. Starting bookkeeping at home is an option for anyone self employed and is important as the self assessment tax paid each year is typically the highest financial outgoing. Bookkeeping home accounts is worth the effort and does not require a high level of technical accounting or tax knowledge. Sole Trader Basic Accounts Bookkeeping Sole trader basic accounts require the simplest form of bookkeeping. Sole trader basic accounts bookkeeping require little more than retaining supporting documents of sales income and expenses and creating two lists of financial transactions. Producing the basic accounts in the format of an income and expenditure statement is sufficient to complete the self assessment tax forms. An income and expenditure statement is the total sales made during the financial year with the expenses listed by type of expense and deducted to leave the balance as the net taxable profit or loss. Starting Bookkeeping Home Accounts The first stage in starting bookkeeping is to collect together all documentary records of receipts or sales received. Review the documents and if incomplete use other sources of third party evidence such as bank statements and deposits t achieve an accurate total. Stage two to producing the home accounts is a similar process of collecting together the supporting evidence of purchases made and expenses incurred. Again if incomplete examine other potential sources of evidence such as bank and credit card accounts. Bookkeeping home accounts is just that, keeping books at home which is the home accounts. Bookkeeping is a function that many self employed business people can benefit from financially. Basic Accounts Bookkeeping Can Save Accountant Fees A significant proportion of a bookkeepers fee or the accountant fees for small business is the sorting of receipts and listing them in order, in effect doing the basic accounts bookkeeping. Accountant fees are better spent on financial advice and tax matters than producing the basic accounts themselves. The basic bookkeeping task of sorting the sales and purchases documents can produce real savings in the accountant fees. Most accountancy firms would actually prefer to receive their client records in a basic accounts presentation to enable the accountant provides a higher level of accountancy services. Save Self Assessment Tax by Understanding Basic Accounts When a sole trader adopts a positive attitude in preparing the bookkeeping basic accounts other benefits accrue. Preparing the basic accounts increases the perception of profitability and may encourage the small business owner to prepare the bookkeeping more often. By being aware of profitability financial problems may be noticed earlier and low profits will stimulate the competitive nature of sole traders and self employed businesses to improve the financial performance. The self assessment tax liability for self employed people is a major annual issue. Understanding the basic accounts will pose tax questions in regard to capital allowances which need to be claimed in the self assessment tax return. The increase in tax knowledge should maximise tax allowance claims thereby reducing the self assessment tax liability.

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