For sole traders and partnerships, accounts form the basis of the self assessment tax return.

For companies or limited liability partnerships the preparation of accounts is a statutory responsibility.

In preparing accounts for our clients we are now able to offer THREE options for the accountant's report that we attach:

Compilation Report

This is the traditional accountants report attached to unaudited accounts. This is sufficient for most of our clients and applies where we have compiled the accounts from our clients' books and records.

Companies with turnover in excess of £6.5m or charities with turnover in excess of £0.5m require an audit but many of our clients below that threshold voluntarily undergo an audit.

The scope and nature of a statutory audit is significant and would be better discussed in
person. Please contact us for a detailed proposal and fee quote.

Assurance Report 

This is a new option which provides clients with a greater degree of assurance over the figures in their accounts. The work involved is not as rigorous as with a statutory audit but is more involved than a simple compilation report. We recommend this service to all of our clients who do not require an audit but would like to add greater credibility to their accounts.

Whether you require help with a personal self assessment tax return or need to submit a corporation tax return, we provide a comprehensive range of annual compliance taxation services.

Again, we have invested in the latest technology making full use of electronic filing. Clients’ tax returns submitted electronically are typically processed within a day or so, compared to several weeks or months using traditional methods.

We are also able to advise on other taxation matters such as:

• VAT
• PAYE & national insurance
• Capital gains tax
• Inheritance tax
• International tax advice
• Tax planning
• Remuneration planning
• Enquiries by HM Revenue & Customs

More and more clients now like us to be more involved in their accounts with regular assistance throughout the year, leaving them to get on with what they do best.

We have a dedicated bookkeeping and payroll department which can take care of all aspects of bookkeeping.

Typically we provide monthly or quarterly accounts that tie in with the VAT quarter for which we prepare and submit the VAT return.

Weekly or monthly payroll support ensures that employees are paid accurately and that HMRC deadlines are met.

Our rates for bookkeeping, VAT and payroll are extremely competitive and in most cases lead to a reduction in the annual accounts and tax return fee.

There are many other areas where we are able to offer advice. Please contact us to discuss more specialist matters such as:

• Due diligence
• Business valuations
• Computer accounting systems
• Forensic and investigative work

A substantial part of our work involves advising owners of new businesses. Almost all of them are overwhelmed by the number of issues they need to address. These include:

• Limited company or self employed?
• Dividend or salary?
• VAT registration
• PAYE scheme registration
• National Insurance contributions
• Treatment of husband and wife companies

These are all areas where we help our clients. If you are thinking of starting a new business or have recently done so please contact us to discuss these matters.

We will not charge for the meeting nor will you be obliged to use Chapman Worth Goddard & Broadley in the future.