No, it will not be a waste of money. When establishing a business, it is essential that you know exactly which records you are legally obliged to keep according to the type of business you are setting up, e.g. sole trader, partnership or a limited company. Forte Accountants & Business Advisers can help you by giving you professional advice on all your legal obligations ensuring that you are able to keep on top of all requirements.

Furthermore, as we provide a business planning service, we will be able to offer you expert assistance in establishing your business in the correct manner. In addition, because we will have been with you from the onset, year-end accounts and cash-flow projections will be more precise. .

Interest rates fluctuate according to the Bank of England Base Rate. By managing your finances Forte accountants & Business Advisers will ensure that you remain aware of the interest rates you are being charged and the consequences of these changes on your business.

Furthermore Forte Accountants & Business Advisers have up-to-date information about which banks are offering the best deals and can offer you expert advice on changing banks as well as on effective credit management.

Computerising your records is a great idea; however the following factors need to be considered: There are many types of software in the market, make sure you choose the appropriate software for your company and its requirements.

Make sure that all staff are comfortable with the new system - extensive training may need to be provided.

It makes business sense to keep costs at a minimum; however you will still require the services of an accountant for the following: Assistance with record-keeping and record-keeping software; To deal with VAT and tax issues including inspections by HMRC; Payroll and employment law concerns such as P11Ds, P60s and maternity pay; To ensure that accurate returns are made to HMRC in order to circumvent interest and penalties; Identify issues regarding business performance from financial records; Take part in meetings with finance providers; For general business advice and expertise.

Forte Accountants & Business Advisers are your one stop shop for impartial advice and advice on how to raise funds to develop your business. We know all the right questions and can help you to make informed decisions about the route you should take to ensure that your business prospers.

The total tax and National Insurance (NI) costs to a small limited company are more likely to be less than the costs to an unincorporated business of a similar size when taxable profits surpass the rate at which income tax is levied at the highest rate which is 40%. Company profits do not attract NI which is another advantage. Although there are many advantages to incorporate your venture, there are also disadvantages which include capital tax implications upon transfer of assets to a limited company from an unincorporated business. Other issues which need to be considered include increased paperwork as a consequence of having to file accounts at the Registrar of Companies. Forte accountants & Business Advisers can look at your business proposal if you are just starting up or you existing plan and advise you on what type of business is best for you.

A business is obliged to register for VAT at the end of any month prior to which the taxable turnover for the previous year was more than £67,000 within thirty days. Once a business submits a form, it is allocated a unique VAT registration number notification. Businesses which have been VAT registered for over a year, with a taxable turnover which is less than £1,350,000 have to make a tax return once a year. However newly registered businesses and businesses with a turnover of over £1,350,000 are obliged to complete returns quarterly by the completion of the following month. The Flat rate Scheme is often utilized by small businesses to work out their VAT liability as a percentage of their turnover as opposed to working out their liability according to individual purchase invoices and sales.

If you would like HMRC to calculate your liability and you have income which is not taxed at source, then you should file our Tax Return by the deadline of 30th September. It is possible to file your tax return after this date; however you will either have to make the calculations yourself or will have to attain professional guidance. The Tax return has to be filed by the final date of 31st January; any tax returns not filed by this date will have to pay penalties.

You should contact HMRC for a calculation at the end of each tax year via you local tax office. This is easy to obtain if you have a single source of income such as employment. However if you have various income sources or have your own business, calculating tax is a little more difficult. Ensure that you keep systematic tax records; this will help keep costs down when you seek advice from accountants.

Forte Accountants & Business Advisers provide services which generally fall into the following two categories: Traditional accounting: tax planning, financial statement preparation and tax preparation.

Outsourced Accounting: business assessment, financial controllership program, complete remote bookkeeping, “CFO as you Grow” functions and business coaching and consulting.

At Forte Accountants & Business Advisers we pride ourselves on providing a personalized service which is tailored to your requirements. Therefore we do not simply input your information for tax purposes but, provide a complete service which answers your questions and takes your concerns into account. We also look at your business as a complete picture and offer you the professional advice of a financial planner and a tax advisor. Furthermore, only our senior accountants who partake in continuous professional development are involved in compiling tax returns and they are able to highlight where you can tax savings.

We are an independent firm and are not paid by any other financial product or service organisation. As a consequence we are in an excellent position to offer you impartial advice.

According to the particular service you require you pay an hourly or a flat rate fee.

Our trained bookkeepers have extensive skills in helping businesses to set up the most popular accounting programmes and can help you to choose the most appropriate programme for your requirements. We can also help you to tailor it to your particular business requirements. As part of our after care service, we will help you to maintain your records though helping you to save money and time.

The benefits of utilising the services of an accountancy firm are numerous. You save money on having an in-house accounting department as it entails: wages, benefits, holiday pay, down-time, PC costs, office space, stationery, hiring and firing costs.

We offer the alternative. By utilising our services you don’t have the hassle of running an accounts department. Forte will provide you with an experienced, reliable and professional service when you need it