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We are open: Monday to Friday from 9am to 7pm and Saturday from 10am to 5pm

4 Bank Chambers
143A High Street
Bromley, London, BR1 1JD

(020) 3740-5639

At Adiva Accountants all initial consultations are free of charge, so contact us today.
For quality, competitive, and friendly accountancy services, please contact

Adiva Accountants

on 020 8313 9117 or via email at contact@adivaaccountants.co.uk.

At Adiva Accountants we have the knowledge and the experience to provide you with the kind of accounting and tax services that you are looking for. At Adiva Accountants we look forward to discuss with you, without obligation, ways in which we may be able to help your personal or business needs.

Alternatively, you can complete the contact form here and we will respond as soon as possible.

Directors of Adiva Accountants have over 10 years’ experience of providing accountancy services. They have completed Bachelor and Masters degrees in Accountancy, Taxation and Business Management. Additionally, they have completed various accountancy qualifications such as ACCA, AAT, etc. So, they hold various accountancy degrees and qualifications up to chartered certified accountant.

They can advise you on many other things, such as how to get the best price when you come to sell your business. Or on how to satisfy the banks conditions when you need help with finance. Or on how to keep creditors, insurers and suppliers happy, etc. Their expertise covers income tax, capital gains tax, corporation tax, VAT, payroll and many more.

They can help with dealing with Inland Revenue investigations also.

You can park in Sainsbury’s car park for free for up to 2 hours provided you spend £10 in Sainsbury’s. The Sainsbury’s car park address is: Walters Yard, West Street, Bromley, BR1 1TP.
After parking your car, please walk past McDonald’s, HSBC, Barclays, Costa, Primark, Argos, Starbucks and come out on the High Street. Our office is above Natwest bank in the middle of Bromley High Street, opposite of Next store. The entrance to the office is between Natwest bank and Thomas Cook, please ring the bell for number 4.

Alternatively, there is a big car park (1,500 spaces) in the INTU Bromley Shopping Centre (formerly The Glades) just behind our office. Parking costs £1.10 per hour for every day of the week. The shopping centre car park address is: The Glades, High Street, Bromley, BR1 3EF.

If you drive to our office in Bromley, please enter this address in your Satnav 143 High Street, Bromley, BR1 1JD. From Orpington, you can take A232, then A21. From Beckenham, you can take A222. From Eltham, you can take A208, B226, A2212, then A21. From Lewisham and Catford, you can take A21. From Croydon, you can take A232, A233, then A21. From Kent, you can take A21. From North and East London, you can take the Blackwell tunnel southbound, A2, A2213, A20, South Circular Road, A2212, then A21. From West London, you can take South Circular Road to Catford, then A21.

We are situated in Bromley High Street, which is served by Bromley South and Bromley North train stations, they are about 5 minute’s walk away. There are direct trains from London Victoria, London Bridge and London Blackfriars to Bromley South station. Bromley South is connected by direct trains to major towns around London and in Kent such as St Albans, Orpington, Sevenoaks, Ashford, Gillingham, and Ramsgate.

The main bus routes serving Bromley High street are 61, 119, 138, 146, 208, 227, 246, 261, 269, 320,336, 352, 354, 358, and 367.

Call us: 020 8313 9117 contact@adivaaccountants.co.uk
We're currently closed.We're open again on Thursday (19th September 2019) from 9:00 am to 7:00 pm

At Adiva Accountants we will do everything we can to support you and help you to grow your business. As our team, expertise and services we offer grew, we created these factsheets to pass our knowledge and help our clients even more. We believe these factsheets, will give you invaluable insights into everyday business issues. Simply click on the links below to access the relevant topics.
If you have a question which is not listed below, then please contact us on 020 8313 9117, or email at contact@adivaaccountants.co.uk and we will be happy to help.
Below you will find answers to questions that we are frequently asked.

Where can I find your offices?

We are located in  Bromley High Street. Our office is above Natwest bank in the middle of Bromley High Street, opposite of Next store. The entrance to the office is between Natwest bank and Thomas Cook, please ring the bell for number 4.

Are you hiring?

We are not hiring for the moment, but please keep checking as we are continually growing and will be expanding our team in the near future.

What are your hours of operation?

We are open:

Monday to Friday from 9am to 7pm and Saturday from 10am to 5pm.

What are your most popular services?

The most popular services are company accounts, personal tax returns, CIS, payroll and VAT returns.

Which is your nearest train station?

Our office is in the middle of Bromley South and Bromley North train stations, they are about 5 minute’s walk away. There are direct trains from London Victoria, London Bridge and London Blackfriars to Bromley South station. Bromley South is connected by direct trains to major towns around London and in Kent such as St Albans, Orpington, Sevenoaks, Ashford, Gillingham and Ramsgate.

Which are the nearest bus routes?

Our office is in the middle of Bromley High Street and is served by 15 different bus routes. The bus routes serving Bromley High street are 61, 119, 138, 146, 208, 227, 246, 261, 269, 320,336, 352, 354, 358 and 367.

PERSONAL TAXATION

This group of factsheets covers concise information on a variety of topics relevant to an individual. It covers taxes on the disposal of capital assets and the inheritance taxes. It covers self employed, partnerships and CIS (Construction Industry scheme). Property investment and tax is covered too.

Please do get in touch if you would like further information about the Construction Industry Scheme (CIS). Whether you are a contractor or a subcontractor, at Adiva Accountants in London we can advise on the CIS for your business in Bromley, Kent and London.

The whole CIS system is backed up by a series of significant penalties. These penalties cover situations in which an incorrect monthly return is sent in negligently or fraudulently. Or for failure to provide CIS records for HMRC to inspect and incorrect declarations about employment status. Penalties are triggered by late returns under the CIS scheme as follows:

  • a basic penalty of £100 for failure to meet due date of the 19th of the following month
  • where the failure continues after two months after the due date, a penalty of £200
  • after six months, the penalty rises to the greater of 5% of the tax, or £300
  • after 12 months, the penalty will again be the greater of £300, or 5% of the tax
  • where information is withheld deliberately, the penalty is 70% of tax, or £1,500 if greater
  • where the withholding of information is deliberate and concealed, it will be 100% of the tax, or £3,000 if greater
  • where the return is 12 months late, but the information only relates to persons registered for gross payment (so no tax deduction was due). The penalty will be £1,500 for deliberate withholding without concealment, and the penalty will be £3,000 for deliberate and concealed withholding of information
  • where a person has just entered the CIS scheme penalties will be restricted to a maximum of £3,000 in certain circumstances

If you need help with penalties, or for anything else in relation to CIS scheme, please contact us at Adiva Accountants in London and we will be happy to help you.

There are three requirements for subcontractors to be paid gross. They include a business test, a turnover test and a compliance test. To qualify for gross payment a subcontractor must:

  • have paid their tax and National Insurance on time in the past
  • do construction work (or provides labour for it) in the UK
  • run the business through a bank account.

The turnover for the last 12 month (ignoring VAT and the cost of materials) must be at least:

  • £30,000 for a sole trader
  • £30,000 for each partner in a partnership, or at least £100,000 for the whole partnership
  • £30,000 for each director of a company, or at least £100,000 for the whole company

If your company is controlled by 5 people or fewer, you must have an annual turnover of £30,000 for each of them.

Subcontractors not registered with the HMRC will suffer the higher rate deduction (30%) from any payments made to them by contractors.

The contractor has to contact HMRC to find if he should pay a subcontractor gross or net. You don’t have to verify all the subcontractors all the time. You would normally verify only the new ones. The verification procedure will establish which of the following payment options apply:

  • gross payment (no deductions made)
  • a standard rate deduction of 20%
  • a deduction made at the higher rate of 30%, if the subcontractor has not registered for CIS with HMRC. Or cannot provide accurate details to the contractor and HMRC cannot verify them.

HMRC will give the contractor a verification number for the subcontractors which will be matched with HMRC’s own computer. This number will be the same for each subcontractor verified at any particular time. Subcontractors who cannot be verified will have special suffixes for the numbers. The numbers are also shown on the payslips issued to the subcontractors and on contractors’ monthly returns.

These numbers are important and contractors have to ensure that they have a good system in place for obtaining and retaining them. It is crucially important to give precise details to HMRC. As the higher rate deduction (30%) will have to be made, if their computer does not recognise the subcontractor. Mandatory online verification of subcontractors will be introduced from 6 April 2017.

The contractor will not have to verify the subcontractor if they have already included them on any monthly return in the two previous tax years.

Payslips

All subcontractors have to be provided with at least a monthly ‘payslip’. It should show the total amount of the payments and how much tax, if any, has the contractor deducted from those payments. Payslips can have different styles, but certain specific information has to be provided including the:

  • contractor’s name and their employer tax reference
  • subcontractor’s name, unique tax reference or specific subcontractor reference
  • tax month to which the payment relates
  • the gross amount of the payment
  • cost of any materials which have reduced the gross payment
  • amount of any tax deductions made and
  • verification number where deduction has been made at the higher rate of 30%.

If contractors include such payments as part of their normal payroll system, it has to be clear that they are classed as self-employed.

If you need help with the payroll of the subcontractors, or for anything else in relation to CIS scheme, please contact us at Adiva Accountants in London and we will be happy to assist you.

Not always. The items below should be excluded when entering the gross amount of payment on the monthly return:

  • VAT charged by the subcontractor (if the subcontractor is registered for VAT)
  • any Construction Industry Training Board levy.

Furthermore, when working out the amount of payment from which the deduction should be made, the following items should be deducted from the gross amount of payment:

  • what the subcontractor paid for materials including VAT paid (if the subcontractor is not registered for VAT). Plus consumable stores, fuel (except fuel for travelling) and plant hire used in the construction operations
  • the cost of manufacture or prefabrication of materials used in the construction operations.

The gross amount of payment and the amount from which the deduction is made should include any travelling expenses (including fuel costs) and subsistence paid to the subcontractor.

The deadline for paying over the deductions

The deadline for the contractors to pay over all deductions made from subcontractors is by the 19th following the end of the tax month to which the deductions relate. The deadline would be 22nd, if payment is being made electronically, or the next earlier banking day when the 22nd is a weekend or holiday. Often the contractor is a company which operates as a subcontractor and has deductions made from its payments as a subcontractor. In these circumstances, the deductions made may be set against the company’s liabilities for PAYE, NI and any CIS deductions it is due to pay over.

Subcontractors

A subcontractor will need to register for the CIS when first starts working in the construction industry on a self-employed basis. The registration is carried out by the subcontractor who needs to contact HMRC by phone or online.

If you need help with the registration of the subcontractors, or for anything else in relation to CIS scheme, please contact us at Adiva Accountants in London and we will be happy to help you.

BUSINESS TAXATION

This group of factsheets covers the taxation issues you need to consider for both unincorporated and corporate businesses. It covers company accounts and the VAT issues you need to consider when running your business. It covers business expenses and capital allowances.

We highlight here the key VAT areas you need to consider when running your business. If you are starting or have started a business in Lewisham, Bromley, Kent and London areas we, at Adiva Accountants in Lewisham, can help you comply with the VAT regulations.
The VAT registered businesses act as unpaid tax collectors. They are required to account both accurately and promptly for all the tax revenue collected by them.
The VAT system is policed by HMRC with heavy penalties for breaches of the legislation. Ignorance is not an acceptable excuse for not complying with the rules.

Below we cover some of the areas that you need to consider.
However, it is important for you to seek professional advice appropriate to your circumstances.

APPENDIX: Table of sectors and rates in Flat Rate VAT Scheme

Trade Sector Appropriate %
Accountancy or book-keeping 14.5
Advertising 11
Agricultural services 11
Any other activity not listed elsewhere 12
Architect, civil and structural engineer or surveyor 14.5
Boarding or care of animals 12
Business services that are not listed elsewhere 12
Catering services including restaurants and takeaways 12.5
Computer and IT consultancy or data processing 14.5
Computer repair services 10.5
Dealing in waste or scrap 10.5
Entertainment or journalism 12.5
Estate agency or property management services 12
Farming or agriculture that is not listed elsewhere 6.5
Film, radio, television or video production 13
Financial services 13.5
Forestry or fishing 10.5
General building or construction services* 9.5
Hairdressing or other beauty treatment services 13
Hiring or renting goods 9.5
Hotel or accommodation 10.5
Investigation or security 12
Labour-only building or construction services* 14.5
Laundry or dry-cleaning services 12
Lawyer or legal services 14.5
Library, archive, museum or other cultural activity 9.5
Management consultancy 14
Manufacturing fabricated metal products 10.5
Manufacturing food 9
Manufacturing that is not listed elsewhere 9.5
Manufacturing yarn, textiles or clothing 9
Membership organisation 8
Mining or quarrying 10
Packaging 9
Photography 11
Post offices 5
Printing 8.5
Publishing 11
Pubs 6.5
Real estate activity not listed elsewhere 14
Repairing personal or household goods 10
Repairing vehicles 8.5
Retailing food, confectionary, tobacco, newspapers or children’s clothing 4
Retailing pharmaceuticals, medical goods, cosmetics or toiletries 8
Retailing that is not listed elsewhere 7.5
Retailing vehicles or fuel 6.5
Secretarial services 13
Social work 11
Sport or recreation 8.5
Transport or storage, including couriers, freight, removals and taxis 10
Travel agency 10.5
Veterinary medicine 11
Wholesaling agricultural products 8
Wholesaling food 7.5
Wholesaling that is not listed elsewhere 8.5

The only way to establish whether your business will benefit from this scheme is to carry out a calculation and comparison of the normal rules and the flat rate rules.

If you are starting, or have started a business in Lewisham, Bromley, Kent and London areas we can advise as to whether the VAT flat rate scheme would be beneficial for your business and help you to operate the scheme. Please do not hesitate to contact us at Adiva Accountants in Lewisham.

In the flat rate scheme, you must keep a record of your flat rate calculation showing:

  • your flat rate turnover
  • the flat rate percentage you have used
  • the tax calculated as due

You must still keep a VAT account. There will only be one entry for each period, if the only VAT to be accounted for is that calculated under the scheme.

The VAT due is calculated by applying a predetermined flat rate percentage to the business turnover of the VAT period. The turnover will include any exempt supplies, so it will not be beneficial to join the scheme where there are significant exempt supplies.

The percentage rates are determined according to the trade sector of your business and range from 4% up to 14.5%. In the first year of VAT registration, a further 1% reduction applies off the normal rates for businesses. If your business falls into more than one sector, you should use the percentage of the main business activity as measured by turnover. This can be advantageous if you have a large percentage rate secondary activity and a modest major percentage trade. You should review the position on each anniversary. If the main business activity changes or you expect it to change during the following year you should use the appropriate rate for that sector.

Despite that you pay VAT at the flat rate percentage under the scheme, you will still be required to prepare invoices to VAT registered customers showing the normal rate of VAT. This is so that they can reclaim input VAT at the appropriate VAT rate.

If you are starting or have started a business in Lewisham, Bromley, Kent and London areas we, at Adiva Accountants in Lewisham, can advise on whether the VAT Flat Rate scheme would be suitable for your business. Please do not hesitate to contact us at Adiva Accountants in Lewisham for further advice.

Capital assets treatment

Capital goods are excluded from the flat rate scheme. If you purchase capital assets costing more than £2,000 (including VAT), you can claim input VAT on such items on your VAT return in the normal way. You must then account for VAT on a subsequent sale of the asset at the normal rate, instead of the flat rate.

European Community transactions

Income from sales of goods is included in your turnover figure. Where there are acquisitions from EC member states you will still be required to record the VAT on your VAT return in the normal way. Even though you will not be able to reclaim the input VAT unless it is a capital item as outlined above.

The rules on services are complex. Please get in touch if this is an issue so that we can give you specific advice.

BOOKKEEPING

This group of factsheets covers information on employment law related topics relevant to both employers and employees. It covers bookkeeping, payroll and company secretarial.

If you would like further information about the new register of persons of significant control or the implications of keeping your statutory information on the public register, please do contact us. We are able to provide comprehensive assistance with company secretarial matters such as:

  • the maintenance and safekeeping of the company registers
  • the processing and filing of minutes
  • the preparation and filing of resolutions
  • the completion and filing of statutory forms
  • the filing of the annual accounts
  • filing online

Despite that a private limited company is not required anymore to appoint a company secretary, still there are a number of statutory procedures that companies must continue to comply with. If your company is in Hayes, Bromley, Kent and London areas we, at Adiva Accountants in Hayes would be pleased to discuss company secretarial duties with you. Please do not hesitate to contact us at Adiva Accountants in Hayes.

In the recent years increasing levels of fraudulent filing of information is reported by Companies House. Often the fraud starts with changing the company’s registered office by submitting the appropriate form to Companies House. After the change of address has been accepted, the fraudsters can change directors or file false accounts. All this happens without the company having a clue that they have been hijacked. The fraudsters can then buy goods or obtain credit based on this false information.

To avoid this Companies House is keen that companies file their information online. This can be a very secure method, particularly if the company signs up for the enhanced security arrangements offered by their PROOF (protected online filing) system. This system prevents the paper filing of certain forms, making it very difficult for the fraudsters to hijack your company.

Many of the more common types of information can be submitted online by first registering at www.companieshouse.gov.uk. Alternatively, Companies House currently has a series of over 200 statutory forms to allow paper filing.

The company must ensure that their record at Companies House is always up to date. This record contains current details of various statutory matters.

The company secretarial duties would extend to ensuring that, for example:

  • The company’s annual accounts are filed on time at Companies House. For a private limited company, this must be within 9 months of the end of the accounting year. A fine will be levied if the accounts are late.
  • Once each year Companies House will send each company a confirmation statement showing a snapshot of the information they hold. The company must ‘check and confirm’ that the information held at a given due date is accurate. The information must be checked, and amended if necessary, within 14 days. If this information is returned late or not returned at all, the company, director(s) and secretary (if appointed) may be prosecuted. This confirmation statement replaced the annual return from June 2016.
  • All changes to the way the company is organised need to be notified to Companies House. And this within a specified period of between 14 and 28 days, depending on the change. The annual confirmation statement cannot be used to change this information and a separate form should be used. The most common forms include:
    • changes in directors, secretaries and their particulars
    • a change of accounting reference date
    • a change of registered office
    • allotments of shares
  • If a company does not complete its confirmation statement, the Registrar might assume that the company is no longer carrying on businesses. Steps might be taken to strike it from the register.
  • The current version of the company’s Articles of Association is filed whenever a change in the company’s internal rules is made.

Statutory charges

The lender or borrower should notify Companies House within 21 days when a company gives security for a loan. This is done by filling in the appropriate form and paying the statutory charge. Without timely registration, the charge will be void. That means the loan will still be repayable but the security given will not be valid. This does not apply to property acquired which is subject to a charge.

Companies should ensure that any charges created are registered and that the company’s credit profile is protected. This is by removing the charge from the register as soon as the loan is repaid.

Meetings and resolutions

The company law sets out procedures for conducting certain aspects of company business. This is done through formal meetings where resolutions will be passed. When resolutions are passed, the company is bound by them.

The company secretarial role here would be to ensure that proper notice of meetings is given to those who are entitled to attend. The proceedings should be recorded and copies of resolutions which affect the way the company is run are sent to Companies House. This should be done within the relevant time frame.

Company meetings

Members and auditors are entitled to a notice of company meetings. A general meeting notice of at least 14 days is required. Notice can be in writing, by email or by means of a website. However, a private limited company is no longer required to hold one. Unless the company’s Articles of Association make express provisions for holding an Annual General Meeting.

A company with an existing express provision for an AGM might want to abolish this requirement. Then a special resolution is needed to change the articles of the company.

Resolutions

There are two types of resolutions that may be passed. The ordinary resolutions, which are passed by a simple majority of the members. Or the special resolutions, which are passed by a 75% majority of the members. In general, resolutions will be voted on by any members present at a meeting.

Private limited companies can take most decisions by written resolution. Such a resolution does not require a hard copy and can be passed by email. However, these resolutions need to be passed by a majority of all members of the company, not just by those who return the voting form.

Whether they are taken at a meeting or by written resolution, it is important that companies retain copies of all important decisions taken in the management of the company. In cases when these decisions change the way a company is run, a copy needs to be filed at Companies House.

The company secretary

A company secretary, or the person responsible for company secretarial duties, will have regular dealings with Companies House. Companies House is where public records about the company are held. Most communications with Companies House are through Companies House Webfiling or their Software filing facility. Companies House is moving towards 100% online filing.

The duties of the company secretary or the person responsible for company secretarial matters are not defined specifically within company law. But they may be divided generally into three main areas:

  • maintaining statutory registers (keeping the company’s records up to date)
  • completing and filing statutory forms (keeping the public record up to date)
  • meetings and resolutions (making sure the company abides by both its internal regulations and the law)

Maintaining statutory registers

All companies must maintain up to date registers of key details, these include:

  • a register of members
  • a register of directors
  • a register of charges
  • a register of persons of significant control

A person with significant control is an individual who ultimately owns or controls more than 25% of a company’s shares or voting rights. Or who otherwise exercises control over a company or its management.

The details in these registers include, for example, names, addresses, dates of appointment and resignation (for directors) and for members, the number and type of shares held. This is not an exhaustive list.

The general public has the right to inspect these registers, which must be made available at the company’s registered office. Or at a single alternative inspection location (SAIL) which must also be recorded at Companies House.

Directors may choose to keep their residential addresses private and to record a service address for them. In these circumstances, the company has to keep an additional register. It will show the directors’ residential addresses which is not open to inspection by the general public.

Maintaining the statutory information at Companies House

Private companies may also choose to keep some of the information normally kept in the statutory registers at its registered office or SAIL on the public register at Companies House. This will include their registers of directors, directors’ usual residential addresses, secretaries, members and persons of significant control. While this election is in force the company does not need to keep its own separate statutory registers updated.

The general public can access company information through Companies House instead of visiting the registered office, whilst this election is in force. This will include some information, such as members’ addresses or directors’ full dates of birth, which is not generally available on the public record for private companies.

If your company is in Hayes, Bromley, Kent and London areas we, at Adiva Accountants in Hayes, can provide assistance with company secretarial matters. Please do not hesitate to contact us at Adiva Accountants in Hayes.

There is no longer a requirement for all companies to appoint a company secretary. The private limited companies do not generally need to appoint a company secretary to deal with this paperwork. This is unless they either wish to do so, or their Articles of Association requires them to do so.

The public limited companies must still have a company secretary who must have specialist, up to date knowledge of company law.

The company secretary is an officer of the company. Due to that they may be criminally liable for company defaults. For example, failing to file a document in the time allowed, or to submit the company’s annual return.

If a private company decides not to have a company secretary, then first it should check its Articles of Association. This is to ensure that its own regulations do not require it to appoint one. After that the company should inform Companies House of the resignation of any existing company secretary.

Where a private company chooses not to have a company secretary, any item that would normally be sent to the company secretary is treated as being sent to the company. Any duties which would normally be the responsibility of the company secretary will be carried out either by a director or a person authorised by the directors.

If your company is in Hayes, Bromley, Kent and London areas we, at Adiva Accountants in Hayes, can provide assistance with company secretarial matters. Please do not hesitate to contact us at Adiva Accountants in Hayes.

BUSINESS STARTUP

This group of factsheets covers the issues to consider when starting up in business. Management accounts and year end accounts are covered too.

We have the expertise to help you at all stages of the preparation of your year end accounts. If you are starting, or have started a business in Bickley, Bromley, Kent and London areas we, at Adiva Accountants in Bickley, would be happy to assist you. So please do not hesitate to contact us at Adiva Accountants in Bickley for further advice.

In addition to the above records the following schedules will assist us in completing your end of year accounts. We can prepare these schedules ourselves but if you will prepare them, it would reduce the time we spend preparing your accounts:

  • A list of fixed asset additions with copy purchase invoices provided
  • A stock list at year end. This should be at the lower of cost and net realisable value
  • Details of work in progress at the year end
  • A list of debtors at the year end, their age and an indication of any that unlikely to pay
  • Sales ledger control account reconciliation
  • Reconciliations for all bank and cash accounts
  • A list of trade creditors at the year end and their age
  • Purchase ledger control account reconciliation
  • Details of PAYE owed at the year end
  • Details of VAT owed at the year end
  • Schedules of key and tax sensitive profit and loss accounts such as repairs, sundry expenses, entertainment, etc

 

Please talk to us about your own circumstances. If needed let’s discuss what you can do to improve your records. Let’s decide together what records to provide to us at the end of your financial year.

Not all the business will have all of the following records. But if you do, you should provide them to us covering the year (plus one month after that):n• If your records are computerised, we need a back up copy of your accounts software for the year n• Your cash bookn• Sales and purchase day booksn• Any ledgers that you keepn• Bank statements (in PDF or CSV format) n• Purchase invoicesn• Sales invoicesn• Petty cash recordsn• Cheque books and paying in stubsn• Copies of VAT returns covering the year together with any workingsn• Copies of any new loan or HP agreements taken out during the yearn• Details of any business income or expenditure that didn’t go through your business bank accountn• Your payroll records for the year together with details of PAYE calculations for payments to the Inland Revenuen• Anything else you feel may be relevant, if in doubt, include itnWe have the expertise to help you at all stages of the preparation of your year end accounts. If you are starting, or have started a business in Bickley, Bromley, Kent and London areas we, at Adiva Accountants in Bickley, would be happy to assist you. So please do not hesitate to contact us at Adiva Accountants in Bickley for further advice.n

We, at Adiva Accountants in Bickley, summarise the preparation of year end accounts and how we can help if you are starting, or have started a business in Bickley, Bromley, Kent and London areas.

We will provide here an overview of the information to provide to us to enable completion of your end accounts. The more you do, the less the time we have to spend on the routine compliance aspects of your business. So, the lower will be your accountancy fees and more time we will be able to assist you with developing your business. However, every client is different and we should discuss your particular requirements. Then we can decide what you can prepare for us and what we will have to prepare ourselves. We will be able to tailor our service to your specific requirements.

We will agree a time schedule for when you will provide the records and for when we will have your accounts ready for discussion.

There are a few ways in which you may find you can help us:

  • Adding up and balancing your books such as cross casting of column totals
  • analysing your payments and receipts in spreadsheets provided
  • filing your invoices in sensible system so that relevant invoices can be easily found

If it is possible you can also assist further by:

  • Reconcile the bank. This is done by reconciling the balance on your bank statement to that derived from your records after adjusting for unpresented receipts and payments
  • Reconcile the debtors and creditors. This is done using control accounts for nominal accounts such as debtors and creditors that reconcile to your year end list of debtors and creditors

The regular use of reconciliations and control accounts during the year, help to ensure that there are no errors in the records.

We have the expertise to help you at all stages of the preparation of your year end accounts. If you are starting, or have started a business in Bickley, Bromley, Kent and London areas we, at Adiva Accountants in Bickley, would be happy to assist you. So please do not hesitate to contact us at Adiva Accountants in Bickley for further advice.

We have the expertise to help you at all stages of your business development including management accounts. If you are starting, or have started a business in Bickley, Bromley, Kent and London areas we, at Adiva Accountants in Bickley, would be happy to assist you. So please do not hesitate to contact us at Adiva Accountants in Bickley for further advice.