We specialise in small businesses from start up businesses to those with turnover of up to £5,000,000. London Bookkeeping Services Ltd can take the worry away of having to deal with all tax returns and accounting matters. Our core services include:
Whether you’re a sole trader, small business or established company, we’ll make sure everything is done quickly and efficiently to meet all HMRC and Companies House deadlines. Ensure your tax returns and Company returns are lodged on time to avoid any late penalties.
We want to keep your tax bills as low as possible. Whether it is personal tax, company tax or capital gains tax we can provide tax planning to ensure you do not pay more tax than you have to.
Year End Accounts & Management Accounts
From full statutory accounts for companies to self employed and partnerships; we can also provide cashflow planning to management accounts.
Tax VAT Investigations & Disclosures
We know how to get you the best result. From Self employed tax returns to Company Tax disclosures and investigations, we are happy to represent you.
Current Topical Tips
With effect from 1 April 2008 expenditure by trading companies will obtain a different form of FYA – known as the Annual Investment Allowance (AIA).
In general, a business can claim the AIA at 100% on the first £50,000 of Qualifying Expenditure in an accounting year. Previously this was only 25% so if you need a machine, computers (but not a car) this is a good time to buy it.
Qualifying Person – a business must be a qualifying person, i.e. a sole trader (an individual), a partnership or a company. However, a partnership must be made up of only individuals in order to qualify, hence if it has a company as a member it will not be able to claim the relief. The AIA is available to all trading entities, regardless of size.
Qualifying Expenditure – this cannot include a car and also businesses that lease out their assets cannot claim the relief (as per the old rules). The equipment must be used in the trade of the business. If an entity has more than one business activity then the AIA can be allocated amongst the equipment purchased as the business requires.
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