We’ve helped clients build successful business in some of the following industries:
- Tech companies
- Property investors
- IT Specialists
- Contractors and freelancers
- Self employed
- CIS works
- Optometrist (Dispensing opticians)
- HR Specialists
- Business/Personal coaching
- Health and wellbeing
- Recruitment specialists
- Interior decorators
- Financial advisors
- Estate agents
- Live in Carers
- Plumbers and Electricians
- Hair dressers
- Wholesale and retail companies
- Restaurants and coffee shops
- E-commece companies
We can help you make the most out of research and development claim:
- Calculate maximum tax credit available;
- Prepare and include your R&D tax relief claim in your annual corporation tax return;
- Safeguard the success of your claim by producing a detailed report for HMRC to explain how the claim was calculated and why the relief is due.
- If you choose to write your own report, we can check it complies with current legislation.
- Make the process quick and painless, as the claims we prepare and submit are processed by HMRC and payments issued within a matter of weeks.
If you are engaged in innovation – be it technology, engineering or manufacturing – you can gain maximum benefit from combining our R&D tax relief.
We can also help with advice on patent box relief and the preparation of your corporate tax return.
For all your bookkeeping needs, our team can help with the following:
- Processing and allocating transactions
- Assist with picking the right bookkeeping system for your business
- Preparation of supplier remittances and payments
- Help produce real time management reports, outstanding debtors, creditors, cashflow forecasts etc
- Customer invoicing and credit control
- Bank and key balance sheet account reconciliation
- Active week-to-week cash flow management
Before we start processing information, we like to review our client’s processes, procedures and systems to establish if there is any way of making the data flow for bookkeeping more efficient. We’ll be able to identify if we can automate some of the processing of information for you, leaving you with more time to spend on your business and less time needed for capturing data.
Working efficiently and effectively together (client and bookkeeper) can reduce bookkeeping time significantly, resulting in less fees and producing management information quicker to the business owner.
Need to get your accounting done?
We have a genuine interest in you and your business, taking time to understand your needs and tailoring our services to your requirements.
We have qualified accountants that can help you will all sorted of accounting needs such as:
- Drawing up financials and submitting company tax returns
- Helping and advicing you about which company structure is best for you
- Things to consider when buying and sealing shares
- Help you with SEIS and EIS applications
- Submitting company tax returns.
- Help and explain complicated tax rules in lament terms
- Help and assist you with finding the best financing solutions
- Ensuring that you are paying yourself as tax efficiently as possible
What makes us different, is that we love working alongside our clients to find out what level of service they need and what will be best suited for them. Once we have established that, we further align their processes and systems to come up with a strategy to enable us to deliver the services required within a budget that suits client.
Management accounts help keep you on track with your business goals
Management accounts are a vital part of keeping track of how a business is performing, comparing actual performance with pre-set goals and targets.
They include forward-looking projections to aid business decisions and for these reports to be relevant, we need to produced them quickly and accurately.
We work with you to identify what is important to track in your business and then compile a set of accounts that help you measure the business performance
- Typically, management accounting services include the following items:
- Profit and loss per period
- Actual results vs budgets (present goals)
- Cash flow forecasts
- Key performance indicators
- Reports that analyse significant changes
- Profitability of projects
- Product or marketing activities
Our management accounting reports are tailored to your specific needs and requirements, enabling you to make informed strategic decisions.
We can help you with your VAT requirements
Some of the ways we can help:
- Advice when you need to register for VAT
- Which VAT scheme to register for e.g. flat rate VAT, standard VAT, cash or accounting etc.
- Registering your business for VAT
- Submitting VAT returns
- Deal with EC sales/purchases
- HMRC VAT audits and enquiries
- Advice on record keeping for VAT
- Advice on more complex areas of VAT e.g. exempt sales, sales outside VAT scope, partial exemption and VAT margin schemes
VAT is a complex area, but it is very important to get it right as you are more than likely to get an audit from HMRC about VAT than anything else.
We prepare payroll on a weekly, fortnightly or monthly basis – depending on your requirements.
We take care of the following:
- Processing and submitting RTI (Real Time Information) report to HMRC.
- Generate pay slips for each payment period
- Submitting P11d reports (if required)
- Preparation and submission of year-end payroll returns
By using outsourced payroll services to handle your payroll, you can rest assured that all employees will be paid on time, all filing obligations will be met and all payroll queries will be resolved swiftly.
Everyone needs tax planning, whether you’re doing it yourself or using a tax advisor
This is probably the work that we enjoy most doing for clients.
There is nothing more satisfying that help clients save £1000’s in taxes by structuring their income more tax efficiently.
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 we continuously look out for clients on ways we can help them pay themselves more tax efficiently.
We can help with all the following:
- Business tax
- Personal tax
- Capital Gains
- VAT planning
- Profit extraction strategies and options
- Business Exit strategies
- Research and development claims
- What expenses you can and can’t deduct
- Claiming relevant capital allowances. e.g Annual investment allowance
- best corporate structure for your business, based on your personal circumstances.
- Claim entrepreneur’s relief when you sell or close your business
We don’t take the approach of one solution fits all, we take the time to make sure we understand your specific business strategy to work out and determine the best structure profit extraction strategy for you
Need to raise finance for your start-up business?
We work with business start-ups and company owners looking to raise finance through an EIS or SEIS investment, providing structuring advice and support, obtaining advanced assurance from HMRC that the scheme will qualify under the strict rules and criteria, introducing and liaising with potential financiers and fund raisers and providing advice on the various tax reliefs available.
We can help clients with:
- Structuring advice and support
- Advising on qualifying business activities
- EIS / SEIS advance assurance and clearance requests
- Cash flow and profit forecasting
- Raising of finance
- Company secretarial services – issuing share certificates etc.
Having the support of a financial director on board can have a huge influence on steering your business in the right direction
We can help you control your finances and plan your affairs for maximum efficiency.
We can support and guide you whether you’re starting out a new venture or expanding your existing operations.
- Improving your profitability of your business
- Performance monitoring including use of key performance indicators
- Setting goals and an action plan to get you where you want to be
- Removing the blocks that are stopping you from getting where you want to be
- Getting the best systems in place to allow your business to grow
- Marketing strategy
- Raising finance to allow you to invest in growth
- Improving the potential of your team members
- Measuring and testing results so that you can continually improve
- Advise on tax structures
- R&D tax reliefs and patent box relief
Are you on top of all you statutory obligations?
To alleviate the administrative burden of complying with the requirements of the Companies Act, our team can help you keep up to date with all your statutory obligations by assisting with:
- Performing the role of company secretary
- Preparing and filing the annual confirmation statement with Companies House
- Filing of changes to company officials, addresses, shareholders, etc with Companies House
- Preparing board minutes and passing resolutions
- Preparing share and dividend certificates
- Fulfilling the role of registered office
- Notifying Companies House of any changes in share capital
- Preparing the documentation to appoint and resign directors
- Informing you of all changes to company legislation and how these might affect you and your directors
Received a HMRC tax enquiry?
HMRC tax enquiries and investigations can be very stressful and expensive to carry out and it is vital that you get expert advice in dealing with theses.
Anyone can be subject to a tax enquiry or investigation. With continued confusion as to what constitutes acceptable tax planning and what constitutes tax avoidance or evasion, HMRC have further increased the volume of their investigations and are taking full advantage of their considerable power to collect as much tax as possible. As a tax payer, you may be targeted with an enquiry into historical VAT, PAYE, corporation tax and personal tax
We can help you with the following:
- Self-assessment enquiries
- VAT enquiries
- Corporation tax enquiries
- PAYE enquiries
We can also offer tax investigation insurance, which means should you get an enquiry,
We cannot prevent you from being investigated by the Taxman, but we can help to ensure that you get the best possible support and advice.
Need training in how to manage your finances?
Yes, you have read that right, from time to time we offer training in a variety of areas.
We like to develop and improve our selves all the time and we like to share our knowledge and skills with our clients as we want our clients to be successful.
So if we come accros a course or we can idintify areas where that our clients can leanr form then we would look to organise a workshop
- Software training – Xero and Breanbalance
- Settings business goals and Forecast
- Outlining vision and mission of your business
- Workshops about Staff management
- Events that will offer guidance on industry specific topics
- Workshops on IT related Issues for SME’s
- Business development courses
To run a successful business, you need to stay on top of your numbers and have a good control over data and processes
We specialise in making accounting and bookkeeping easy and simple for our clients and the single biggest tool that help us achieve this is using the correct software.
We predominantly use the following software packages for our clients:
We use Xero for all our SME clients or those with a more complex business structure. It is a powerful tool that can significantly reduce time to process large quantities of invoices and receipts. In addition it has over 500 plugins which can help you with:
- Producing real time management accounts
- Showing profitability per cost centre, sales rep, sales platform etc
- Raising invoices on the go from your mobile.
- Take photos of receipt to be instantly processed and uploaded into Xero, which is the easiest way to move to a paperless system
- Use your unique email address and ask your suppliers to email your invoices straight to your Xero account with NO data capturing required.
Beanbalance is a free bookeeping specific for contractor and freelancers:
Ideal for clients with 1 to 3 directors, with a handful of employees and no more than 40 transactions per month.
With the fast pace of technology development and the number of technologies launched daily, a new industry has been created in the accounting and bookkeeping world, and this is system integration.
Your accountant has now become a key partner in helping you decide which system is best for you. At EOACC we now have systems accountants that specifically look at finding the best process automation and system integrations for your budget, that will also meet your accounting and bookkeeping requirements.
More automation and less errors, mean less chances for mistakes or the manipulation of information. In turn, it means quicker and more accurate reports and less accounting fees!
If you need to start from scratch and find the right systems and processes, we can certainly assist you with this provide you with the necessary training to get you setup and ready to hit the ground running . Perhaps you’re already setup and are having trouble getting everything to work as it should? No worries, we can also do a system analysis to cleanup and tweak whatever is needed to make it all work again.