Your Strategic Business Partner For Handling Accounts And Taxes

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Preparation of Statutory Accounts

For compliance purposes, all the companies registered with Companies House are required to file accounts at the end of every financial year. Annual accounts should be prepared in accordance with the format devised by the Companies Act and the rules of Companies House. While detailed annual accounts must be submitted to HRMC; all companies will take the exemption, regardless of the tax values, and file only abbreviated accounts.

Besides this, annual accounts act as a supporting spine for stakeholders to get an idea about the company’s financial condition. Preparing full-fledged year-end accounts can be a time-consuming process. That’s why companies prefer to outsource the task to reliable and cheap accountants.

Having prepared accounts for all types regardless of the sizes of business, SKATAX ensures that the annual accounts we prepare will be error-free and in accordance with the Companies Act. We also work as online accountants to make sure that our clients can get in touch with us whenever needed.

We deploy project management strategies along with quality control procedures to ensure that your Annual Accounts are prepared timely with an enormous emphasis on superior quality. Our team is dedicated to helping the clients to stay ahead of due dates and jurisdiction requirements.

Self-Assessment

If you are self-employed, have a rental property, owns a personal limited company or received income during the tax year on which tax is still due, then you need to complete and submit the HMRC tax returns.

Failure to complete the self-assessment and filing the tax return on time to HMRC can result in heavy penalties and fines. If you are looking for the cheap accountants in East London, then SKATAX is the right choice for you. We take off the hassles of self-assessment and tax returns from you and will put it on our shoulders.

Our expert online accountants calculate the taxable income and give you reliable accounting advice. We let you know if you need to pay any taxes, or you are entitled to a tax refund. We provide expert assistance to our clients in analysing any tax-saving opportunities under the code of law for saving your valuable money. Self-assessment is essential to file self-employed tax returns as it helps you in calculating your tax liabilities.

If you are going to file self-employed tax returns, you need to provide the records of your sales and takings along with purchases and business expenses. We will handle the rest of the process on your behalf.

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Registration for Sole Trader with HMRC

Are you starting off your career as a sole trader and don’t know exactly how to register with HM Revenue and Custom (HRMC)? SK Accountants and Tax Consultants Ltd. can help you in this regard. Registering as a sole trader with HMRC offers many benefits for the organization. You need to inform HRMC that you pay due taxes through self-assessment.

Registering with HRMC is a hassle for entrepreneurs as they don’t have much time to focus on these aspects. Thus, it can result in penalties and huge fines. If you want to build your own business and will be filing self-employed tax returns, then registering with HMRC is an advantage.

SK Accountants and Tax Consultants Ltd. employ professional accountants for self-employed persons who are experts in what they do. With our top-notch accountancy services and legal advice, you can complete the process timely and smoothly.

The procedure of registration is complex and involves numerous phases. We ensure that the execution of the process will be error-free, which reduces the possibility of HRMC interference in any case. Our expert online accountants with extraordinary knowledge will help you in simplifying the process while ensuring that each step is error-free.

Tax Planning

At SK Accountants and Tax Consultants Ltd., the main objective of tax planning is to help businesses and individuals in reducing their tax liability as much as it is possible and allowed by the tax law. Our tax planning services intend to keep our clients cautious and acquainted with the complicated tax laws. 

We develop tax plans strategically to minimize your personal, corporate, future, and dividend tax liabilities. Our deliberate and efficient tax planning services are modified and validated to reduce your tax burden. SK Accounting and Tax Consultants Ltd. have the specialized expertise to execute the tax planning and tax-saving processes without any hassle.

As a reputable accounting and tax consulting firm, we have comprehensive knowledge and required experience of working with small, medium, and large businesses. Our expert accountants have the specialized expertise to handle the tax cycle, including all the features, be it tax planning, tax preparation, submission, and controversy. Our well-founded tax planning strategies provide accurately prepared tax returns, related opinions, and specialized consultation.

Being among the top accountants in East London, we also help in identifying the new practical and legal drawbacks that you may have ignored. We strive to make a noticeable difference in the tax process of our clients.

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Bookkeeping service

Poor bookkeeping and accounting are the reason most of the businesses fail. Bookkeeping helps you in maintaining accurate financial records of your business, and you are required to maintain accurate records/books by the law.

Still, many businesses fail to implement this integral process accurately. Providing reliable bookkeeping services in London, SKATAX creates ease for the clients by taking away the hassles of all their accounting processes. While keeping updated and error-free records pertaining to all the financial transactions and proactive reporting, our bookkeeping services enable clients to make an informed decision.

Tedious daily financial transactions are recorded carefully by our specialists, and under the books are prepared under strict supervision. We have some experienced Xero Certified Accountants onboard to ensure the quality of our services. Our QuickBooks Certified Accountants have specialized expertise in recording all the financial transactions properly.

In order to streamline the financial records, our Xero Certified Accountants and QuickBooks Certified Accountants work side by side to provide all needed support to give better results. SKATAX is rated among the top bookkeeping services in London, with its risk reducing benefits and minimizing the monetary embezzlements. Our team experts help clients with VAT returns, bookkeeping, daily financial management, and payroll.   

Management Accounts

Management information plays a pivotal role in managing your business successfully and moving it forward. Imagine having a certified and cheap accountant with real-world experience to analyse and translate your financial as well as non-financial data every month to help you in making informed business decisions. Our approach goes beyond merely data evaluation and focuses on value creation.

We offer the flexibility of choosing monthly or quarterly management accounts, depending upon your personal preferences and how closely you want to monitor your business. Our Cloud expert accountants help you to quickly analyse the information available from other sources.

As a minimum, the generic management accounts service of SK Accountants and Tax Consultants Ltd. includes a profit and loss account along with the balance sheet. We ensure that your management report will be easy to understand, simplifying the analysis of your progress, supporting decision making, and management planning.

Our management accounts service helps businesses in keeping their finger on the pulse of the business. By monitoring and quickly assessing the impact of the changes introduced, a business can connect the dots more often and stay on track in various important business scenarios.

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VAT Returns

VAT is termed as the consumption tax, which is placed on a product after the value is added; at the production stage or point of sale. Calculating the VAT accurately and filing the Monthly/Quarterly or Annually VAT returns are the responsibilities of the taxpayer. It’s mandatory to keep digital records of the business transactions to send VAT returns to HMRC through Making Tax Digital (MTD) for the business who are VAT registered and their taxable turnover is above £85,000.

Preparing VAT returns according to current legislation, accounting them accurately, and submitting those returns on time through MTD to HM Revenue and Customs (HMRC) can be daunting tasks for any business, regardless of its size.

At SK Accountants and Tax Consultants Ltd., our small business tax accountants help you in managing your VAT returns and ensuring compliance with the regulations of HMRC. The VAT returns actually explain in detail the due amount to be paid to the HMRC.

If the turnover is higher than the HRMC’s specified VAT threshold, then you need to register the business for VAT. After registering your business, you must prepare and submit VAT returns, whether monthly or quarterly, to HMRC.

We offer cheap tax return services for enterprises that lack time and resources. Leaving the task to prepare VAT returns of your business to the shoulders of our expert accountants gives you ample time to focus on other important business aspects.

Payrolls

Calculating the VAT accurately and reporting Real Time Information (RTI) are the responsibilities of the taxpayer along with P32 and P30.

Efficient payroll processing and payroll tax administration have become a necessity for every organization in order to optimize productivity, improve administration, and to calculate the tax returns. SK Accountants and Tax Consultants Ltd. ensure smooth payroll management that will help you in calculating and administering the tax in the long-run.

Our online accountants provide you with better resource management while saving you from the time-consuming tasks of processing payrolls. Having years of experience in handling corporate payroll and tax-related matters, we help businesses submission of Real Time Information (RTI) along with P30, handling of P32, P46 form, P60, P45 form, P-8 form, and other forms handling. Our online accountants have the ability to tailor a solution according to the specific needs of any organization.

Payroll tax administration would ultimately benefit the organization, at the time of submitting tax returns, through its impact on net income. Payroll administration, in general, provides detailed information about salaries, bonuses, incentives, and with-holding taxes of the company’s employees.

We take off the hassle of maintaining the hourly work records of the employees and wages calculation to save your precious time. Our experts will monitor and maintain the record of attendance through proper timesheets in order to calculate the monthly payroll. By outsourcing the services to us, you will be able to disburse the salaries on time to garner employee satisfaction and increased motivation.

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Limited Company

Everyone wants to quit the job and get started with their own business and aspire to touch the height of success within no time. If you are planning to do so, then here is good news for you. The laws and economic conditions are quite favourable in the UK to set up a limited company with a minimum tax on dividends. The economy and business market of the UK support people to realize their dreams and accomplish their goals.

With SK Accountants and Consultants Ltd., setting up a limited by share or limited by guarantee company has been made easy and effortless as we will be there to help you and taking care of the tax-related matters.

In the United Kingdom, companies with limited liabilities are to be registered adhering to the Companies House’s rules and regulations of the law. The majority of the people in the United Kingdom prefer to set up a company that is limited by shares and getting registered with Companies House is hassle-free with our advisory services.

After the successful incorporation of your limited company, our experts will carry out the next steps of registering the company into different taxes. The registration process for limited by share or a limited by guarantee company in the UK has been simplified by our experts.

Company Formation

There is a misconception among business owners that incorporation of a company is much costly or time-consuming, but neither is the case. Forming a company through SK Accountants and Tax Consultants Ltd. provides benefits like tax savings for your business can gain.

Our exceptional company formation services provide an opportunity to invest your pre-tax trading income in a company pension scheme. SK Accountants and Tax Consultants Ltd. will accommodate you throughout the process of registering and establishing a company with Companies House.

We provide you with the certificate of incorporation, articles of association, letter of the memorandum, certifying ownership or share certificates for the shareholders, and electronic filing codes to aid you in future filings at the Companies House.

Our expert advisory services and assistance about the company formation process will make the process hassle-free. We provide professional service at each step of the procedure to carry out the process as quickly as possible.

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Landlord Taxes

The procedures of filing landlord tax returns can be depressing for the landlords living or temporarily staying outside the country. Even people living in the UK find it strenuous and that’s why the process got delayed usually. You need to seek out the services from reliable landlord accountants in London to timely submit the tax returns.

Our landlord tax return services at affordable rates will help you in enlisting ways to minimize the final tax amount that you would be liable to pay to be a Landlord in the UK. We will suggest possible measures and steps be taken for tax mitigation as well.

Being among the top landlord accountants in London, we work as a helping hand to fulfil all the requirements enlisted by the HMRC. Our experts make sure that your accounts will comply with the Landlord Taxes regulations of HMRC.

Secretarial Services

Handling all the legal matters of a limited company can be daunting. We understand that running limited companies involve various responsibilities that need to be carried out efficiently. The secretarial services can be time-consuming and include all the accounting and taxation tasks for the smooth functioning of any organization.

We, at SK Accountants and Tax Consultants Ltd., provide unlimited support and expert assistance in carrying out the statutory obligations while ensuring compliance at the same time. Being the cheap tax return service provider, we are the one-stop solution to all your accounting and tax related needs.

Our top-notch and cheap tax return services would be of great help for your organization to overcome the hurdles of HMRC compliance and delivering supreme quality results. We help in filling out 64-8 forms on your behalf to give a quick review of your company’s financial performance.

Our experts are dedicated to taking care of any aspect of the secretarial work of your company, giving plenty of time to the director to focus on the core business activities. We ensure that statutory compliance obligations have efficiently adhered to.

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