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We realise starting a new business gives you many questions.
Click here for answers
Personal or Business Tax Difficulties?
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We are often told our rates are very reasonable.
Click here for some examples
69 Sinclair Street
Helensburgh
Argyll & Bute
G84 8TG
Tel: 01436 671477
Fax: 01436 674410
email: info@hammondca.co.uk
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GLOSSARY
Accounts preparation every company, including partnerships, sole traders and limited ventures, has to prepare finalised accounts relating to their yearly income, expenditure and tax liability. We can help prepare end of year accounts and, using our expert knowledge, help to minimise tax liabilities.
Audit
For companies above a certain turnover level, and some other organisations such as charities, there is a legal requirement for a report on the accounts to be carried out by an independent auditor, registered with the Institute of Chartered Accountants or another Recognised Supervisory Body. This we can do.
Audit exemption
Some companies with a turnover of less than £5.6million do not have to conduct an audit.
Back duty
We can help sort out any problems over back duty demands by accessing and negotiating with the Inland Revenue with regards to tax underpaid in previous years as a result of failing to provide adequate information.
Benefit-in-kind
A benefit in kind is 'consideration' that may be offered by an employer to an employee in lieu of cash. Typically it can be a company car, private medical insurance plan or a cheap loan to assist in paying for travel season tickets.
Book-keeping
Every company is required by law to keep a record of their income and outgoings. We can help advise clients on how to do some or all of this themselves effectively, or take over the responsibility for the task as a whole.
Business plans
Every business needs a plan forecasting expected profits and cash flow to keep investors and financial backers acquainted with the future expectations of company performance. We can offer advice on all aspects of starting a business and drawing up a sound plan to take that business forward.
Capital gains
We can provide advice on taxation gains or losses arising from liabilities incurred by the disposal of personal or business interests.
Company formation
Starting a business requires advice on whether it should operate as a sole trader, partnership or limited company. Each company needs to check the availability of suitable names, register them for protection and establish a record of directors and articles of association. All of these we have years of experience in doing.
Chartered Accountant
Not every ‘accountant’ is a Chartered Accountant. Members of the Institute of Chartered Accountants Scotland are qualified to use the letters CA after their names. To become members they had to spend several years in on-the-job training, and pass tough exams covering taxation, company law and accounting principles.
Before setting up in practice offering their services to the public, they need to have gained several more years of experience, and have adequate insurance to protect clients against professional negligence.
They also have to show each year that they are keeping up to date by committing to our scheme of continuing professional development.
Company secretarial service
We can provide on going advice and assistance with the keeping of statutory records of shareholders, directors and other company information.
Customs duty
We can advise on the reliefs available on tax paid on goods exported or imported
Employment
Every company which employs staff needs to comply with legislation relating to the collecting of tax and national insurance along with understanding of other employer’s liabilities. We can keep you on the right side of the law.
Loan finance and leasing advice
At some time or another every company has to consider the best way of financing the purchase of equipment or expansion of their assets. We can advise on the best options available such as whether it is better to borrow, buy or lease an asset and how to finance the deal.
Management consultancy
The administrative side of business is often time consuming and complicated for the less experienced. We can help with all aspects of establishing an efficient system of management accounting to fulfil all legal obligations along with giving advice on specific, financial and operational aspects of your business.
PAYE
We offer assistance with the Pay As You Earn system of tax collection
Self assessment along with all other payroll matters.
Self Assessment
Self-assessment
We can offer advice about record-keeping, tax returns and the payment of tax to help you keep personal liabilities to a minimum.
VAT
We can also provide advice on complying with, the incidence of and the recouping, where possible, of Value Added Tax on business transactions.
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