Companies and Partnerships

Ltd Companies

It is a legal requirement for incorporated entities to submit annual Tax Returns along with their accounts. Tough penalties and fines are raised by HMRC and Companies House if declarations are not kept up to date. Alongside the Tax Return we will prepare Statutory Company Accounts and ensure your corporate compliance while offering optimum tax efficiency advice.

Our clients value the opportunity of sitting down and reviewing the statutory accounts each year to ensure the accounts are understood and that they can be interpreted in a way that will improve their business. When preparing your accounts, we will also look for ways to improve your systems and processes, giving you clear, detailed feedback.

Partnerships

There are several different kinds of Partnerships and we will help you select the right set up for your business. Partners pay Income Tax and National Insurance on all the taxable profits allocated from a partnership. It is important to note that the amount of profit allocated to a partner can be different to the amount paid to them as a drawing from the Partnership.

In a professional partnership, there is a substantial difference in the way partners and employees pay tax. For many promoted to partner, it will be their first experience of self-employment. Therefore, it is important to be aware of the change in tax status and requirements that such a promotion brings.

Charity Accounting Services

There are special rules for each types of charity including registered non-company charities; registered charitable companies; excepted charities, and exempt charities

Your charity’s governing document may also contain specific rules on accounts and reports and we can help the Trustees prepare accounts which comply with the rules. For the medium sized charity we can carry out an Independent Examination of the Charity Accounts.

Trustees’ annual report

The basic contents of the trustees’ annual report are mandatory. The report need not be lengthy but explains the charity’s aims and is an opportunity to highlight the main activities undertaken in order to carry out the charity’s purposes for the public benefit.  

CIC Accounts preparation

In addition to having to comply with HMRC & Companies House regulations, CIC accounts have to comply with the CIC regulator. The often complicated process of preparing CIC accounts will be handled efficiently by the team at Wyatts resulting in accounts that will comply with the law and meet statutory duties.

Contact us to find out more about our Company Tax services. A Schedule of our Services and Fees is available upon request.