The Cheltonian > Articles

New Firm

Opens Its Doors For Business crack

How much extra money could you make in the time it takes you to complete your accounts?

While small businesses and sole traders are the back bone of the British Economy, too much of their valuable time is spent needlessly trawling through the paperwork that is required, whether it be meeting the deadlines for VAT and Tax returns, payroll execution or general book keeping. It makes sense to delegate these tasks to a qualified book keeper.

Jeanette Price and Sally Mundiñano have joined forces to form Bay Tree Book keeping and Accounting Services to provide a trustworthy and reliable service that will take all the hassle out of your records. Having both qualified through the International Association of Book keepers and The Association of Accounting Technicians, they met while embarking on the Association of Certified Chartered Accountants course at The University of Gloucestershire.

They have got sixteen years combined experience in the sectors of: hospitality, construction industry, wholesalers, social housing, aviation and ecclesiastical sectors.

Bay Tree Book keeping and Accounting Services have the advantage of being linked to a qualified accountant and so can offer a service from day books to the signing off of year end financial statements.

The services offered by Bay Tree Book keeping and Accounting Services include:

• General book keeping – getting this day to day task right in the beginning can save a lot of time at the end of your company’s accounting period. We can offer manual or Sage accounts depending on your requirements.

• Sage - The advantage of Sage is the compilation and correlation of your businesses data which can, at the touch of a button, produce reports tailor made to help you M.O.T your business.

• VAT Returns – When your turnover reaches the VAT threshold for registration, you will be required to charge VAT on your sales and reclaim VAT on your purchases. We can complete and submit your VAT return and payment electronically. We also have experience in cash and flat rate accounting systems.

• CIS Returns – If your business coincides with the construction industry, then you will be required by HMRC to submit monthly online CIS returns detailing the tax deducted from registered sub contractors.

• Self Assessments and Tax returns – As a sole trader or partnership, HMRC require you to complete a self assessment and tax return for the tax year, which has to be submitted by 31 January. HMRC are currently encouraging us to submit all our returns and payments online in keeping with the general trend towards a paper free society. This can be a stressful exercise, unless like us, you submit regularly!

• Profit and Loss Statements – A profit and loss account prepared more often than annually can be a useful tool for a business that needs to closely monitor income and expenditure.

• Year End Financial Statements – Limited companies should be registered with Companies House and must make an annual return for the previous year’s trading. Sole Traders and partnerships also need to compile annual accounts to comply with law.

Bay Tree Book keeping and Accounting Services can liaise with your independent Accountant or we can arrange for our Accountant to sign off end of year financial statements leaving you with peace of mind that your accounts are taken care of.