We help you to concentrate more on managing your business rather trying to do all by yourself?
We are here to help you with your day-to-day paperwork. Let us take the worry off your shoulders.
We produce accounts for
We work with you to comprehend your business and then tailor our best possible quality approach to meet your needs. Our staffs are expert in preparing profit & loss, balance sheet and other schedules as required by the specific needs of clients.
Services we provide for contractors:
As a contractor, you are required to meet specific obligations under the scheme, including:
Make sure you do not incur penalties by failing to submit your monthly returns to HMRC. Success Masters Accountants work with numerous contractors and subcontractors. By making sure we are always up to date with any changes to the CIS regulations we can notify our clients quickly of any changes that may affect them.
If you are a subcontractor, your main obligation is to register with HMRC. You must also keep HMRC informed of any changes to your business such as changes to your business address, business name, business partners and other relevant information.
Services we provide for subcontractors:
Any contractor that you work for must determine whether or not you are employed or Self-employed for each and every contract. If you are an employee, the contractor will need to operate a PAYE scheme.
If you are self-employed, HMRC will register you as a subcontractor under the CIS scheme and they will set you up to receive payments 'under deduction'. This means contractors must make a deduction of tax at 20 per cent (30 per cent for unverified subcontractors) from the labour element of your invoices and pay it over to HMRC.
Whether you are the contractor or the sub-contractor, your local SUCCESS MASTERS Accountants can help you keep your CIS affairs in order. We have 4 offices across the UK, making us easily accessible to you.
We educate you to understand which expenses can be claimed as a contractor working through a limited company.
Note! You must keep your evidence for the expenses if in case HM Revenue and Customs ever ask you; this is usually achieved by keeping receipts.
We help our clients to meet all deadlines especially in regards to statuary requirements. Directors of the companies are responsible for sending the annual return to the Registrar of Companies. Late filings penalties would be payable if these are not submitted on time.
If you are self-employed, a director or sole trader you have to fill in the self-assessment tax return and send it to HMRC in time otherwise you are charged heavy penalties.
We offer both self-assessment and sole trader's compliance and advice. This will include preparation of:
We also provide compliance and advisory services to the following areas
Corporation tax is the tax paid by the corporations/companies on their income less allowable deductions. Many clients unnecessarily pay higher corporation tax liability. In this area we offer the following:
We help our clients to prepare VAT Returns as well as we advise them in the rule and regulations and record keepings. We can also represent your organisation when VAT officer makes a routine visit to your office.
We have expert colleagues to assist our clients with all payroll matters including Employer PAYE registration, running of weekly/monthly payroll including tax and national insurance calculations and production of payslips, P45, P60 together with all year end filing requirements.
We help our clients with day to day accounting in our office or we do offer bookkeeping services at your premises. The bookkeeping and accounting can be a headache for any business.
Our well trained and qualified book keepers also help our clients to educate their staff to complete simple spreadsheet methods to keep clients books in order.
Summary of our services:
Management Accounts, Profit & Cash-flow Forecasts, and Budgets
As your business grows, so does your need for sound financial advice and control. This fundamental requirement is often neglected and as a result many talented people see their businesses fail. Many small businesses just are not in a position to retain a full-time finance professional. Hence we are here to help you.
Businesses have different needs depending on the size and complexity of their operation, but a set of management accounts can include any or all of the following:
If you are thinking to start your business we can be of great help. We advise our clients the best possible route to start with, as Ltd, sole trader or self-employed. Our other services in related to start up entrepreneur are as follows:
Start-ups and Business Plans
There are 3 core areas where we can assist you:
While there is much activity carried out under the umbrella of "business development", there is not a consistent picture to guide business practitioners and other stakeholders in the understanding of what effective business development actually is. This may hamper effective management of business development and, critically, it does not enable scientific scrutiny and tests of when and where business development activities actually contribute to superior performance across firm types and across industries. Hence the Business Development service is important. By providing this service we will work with you to develop a coherent and sustainable new business strategy that reaches across not just the "cold" channel but across all of your new business activity.
You might be working as an individual and have aspirations to setup your own company or in the process of starting up a new business. Therefore we are there to help you with:
If lack of UK practical work experience in accountancy is stopping you from getting your ideal accountancy job, Success Masters Ltd can help you get the right experience.
Summary of our services:
Information technology (IT) is one of the key resources available to every business to achieve its short and long-term objectives in a smart way. Our IT team has rich experience of systems and is capable of providing effective IT solutions. We can install software, provide training and help you to obtain the best from your chosen system. Using the knowledge gained from our own systems and those designed for other clients. We are able to advise on IT related matters with first-hand experience. We can help you to obtain the best from your chosen system.
If you are spending too much time writing up books, typing invoices and chasing debts we help to take control by computerising your accounting system. We can help you to make the best use of IT resource to produce financial information that is accurate and appropriate for running your business effectively. With the correct accounting software you will save hours of hard work leaving you more time to deal with the more important areas of the business.
In short, whether you are investing in new technology, reviewing existing systems or have simply outgrown your current resource, we can help.