S. Kainth offers a variety of professional financial services –

Statutory Accounts Self Assessment Tax Returns Bookkeeping
Payroll Value Added Tax Business Tax Planning
Personal Tax Planning Starting New Businesses Management Consultancy
Management Accounts Business Plan Tax Investigation

Statutory Accounts

Preparing accounts, for internal and external reporting purposes, is one of our main areas of expertise. This process can begin from a bag of invoices and bank statements, or fully reconciled computerised data being e-mailed to us or indeed anywhere in between.

Although the primary aim of such statutory accounts is to report the performance and financial position to the stakeholders of a business, we shall also advise you on the following other factors:

  • The resulting taxation consequences,
  • The view the accounts present to bankers, potential investors, credit rating agencies, your competition,
  • Industry standards for the accounting policies followed to prepare these statutory accounts.

We will prepare your statutory accounts and we shall unburden you of the worry of correctly calculating how your business has performed and we shall take away the complication of ensuring all technical disclosures are correct. We shall also ensure that they are prepared in sufficient time to be filed with the relevant Authorities by the statutory filing deadlines, so that no late filing penalties are incurred. When preparing these accounts, we shall be mindful that your tax liability is related to these results and we shall actively seek proven techniques to save you tax.

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Self Assessment Tax Returns

Any person who is required to make a Tax return is obliged to keep tax records. Every year thousands of taxpayers are penalised because deadlines are missed, incorrect returns are submitted or appropriate records are not retained or presented. We are happy to take away all paperwork and complete your return on your behalf.

We aim to spare you all these headaches and free up your valuable time by offering a comprehensive Individual Self Assessment service, including:

  • Liaising with your bank, building society, stockbrokers etc to gather the relevant data for your annual returns
  • Calculating your tax liability
  • Completing and filing your tax return on your behalf
  • Advising you when various payments are due and how much to pay
  • Advising on appropriate record retention
  • Introducing you to any relevant tax saving ideas
  • Representing you in the event of your being selected for investigation by the Inland Revenue.

We offer a fast and efficient Tax Return Service. You will rest assured once you have instructed us to complete your return; we would endeavour to give a professional personal service.

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The last thing you want in your business is to have valuable time and resources tied up with routine bookkeeping and accounting. That’s something we can do for you, either at your office or at ours. We begin by discussing your specific requirements with you and then we set up appropriate accounting procedures and controls and ensure your accounts are kept fully up-to-date and in compliance with statutory regulations. But we don’t stop there. We can also provide you with regular management accounts to keep you informed on essential areas such as

  • Cash flow
  • Profitability
  • Performance ratios
  • Customer activity
  • Credit control
  • Budget comparison

Good bookkeeping of your records and transactions has the following advantages:

  • Keeps your accountancy fees relatively low
  • Avoids the penalties from Inland Revenue associated these chores.
  • Enables the management to see how the business is performing and to take timely decisions to counter adverse effect.
  • Assists in raising further business finance as at and when required.

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Administering payroll is becoming increasing burdensome for many businesses, taking more and more time resources away from core business functions. Fortunately payroll can easily be separated from your other accounting activities and outsourced to S Kainth & Co. where our specialist payroll professionals, will be able to provide a completely confidential to deal with matter such:

  • Starters and leavers
  • Code number changes
  • Customised and generic payslips
  • Taxable benefits and P11D’s
  • Company, personal and stakeholder pension schemes
  • Student loan recovery
  • WFTC and DPTC
  • SMP, SPP, SSP and SAP
  • Child maintenance orders
  • Give as you earn
  • Pay in lieu of notice redundancy
  • Advice on tax and NIC payable
  • Processing Payments through BACS
  • Dealing with employee enquires
  • Standard payroll reports
  • Production of year-end P60’s
  • Preparation and electronic filing of forms P14 & P35

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Value Added Tax

By UK law it is an obligation to register your business for VAT if you have made more than £70,000 (as at Sept 2010) of the VAT taxable turnover (the sum of all goods or services you have provided) in the previous 12 months. In case your turnover has not exceeded the threshold but it looks likely that you will out strip it in the next 30 days you will need to register for VAT. We can advise you if you need to register for VAT by monitoring your turnover and ensuring registration is on time.

We can take on the responsibility with your permission to register your business voluntary or when you are required by law to do so. Once you are registered you must keep all required VAT records and issue VAT invoices. We can then complete and submit a VAT Return at regular intervals, along with your payment if one is due.

If you are VAT registered and need your VAT returns completing we can do these for you. We are experts in completing VAT returns and we can provide you with further VAT services including:

– VAT Tax Advice
– Register you for VAT
– Complete your VAT Accounting
– Prepare and file your Tax Return and submit it to the HM Customs and Excise

– Advise on various types of VAT schemes including annual, cash accounting

– Advise on all other VAT matters such as inspections and enquire

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Business Tax Planning

Corporation tax represents a substantial part of your trading costs. Moreover, the increased reporting obligations, robust investigation policies on the part of the tax authorities, and harsher penalties for non-compliance mean that an undue amount of your time and resources can be taken up collecting revenue for the Government.

We are specialist Tax Advisors and offer a range of services to help you minimise your corporate tax exposure and relieve you of the administrative burden of complying with tax legislation. These include:

  • Determining the most tax effective structure for your business
  • Taking full advantage of tax opportunities and reliefs
  • Achieving the optimum capital or revenue tax treatment
  • Reducing tax on disposals and maximising relief on acquisitions
  • Making the most of tax opportunities specific to your industry
  • Meeting the rigorous demands of compliance including corporation tax self assessment
  • Acting on your behalf in discussions with the tax authorities
  • Efficient corporate tax planning can result in potentially significant improvements in your bottom line.

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Personal Tax Planning

We offer a specialist personal tax planning service tailored to your individual needs that includes:

  • Advice on minimising tax liability for all personal taxes including:
    • Income tax
    • Capital gains tax (CGT)
    • Inheritance tax (HT)
    • Non-domiciliary taxes
  • Completion and filing of relevant returns
  • Advice on what payments are due and when
  • Advice on trusts and estates

We can offer you personal tax planning advice to help you optimise your taxing position and ensure you meet all the compliance requirements. Clients who benefit from this service attest to the value of an independent adviser who can look at their situation within the larger picture. As your personal Tax Adviser I will also be available to advise on issues such as:

  • How best to handle benefits such as company cars and accommodation
  • Whether directors should be paid by salary or dividend
  • How to minimize CGT liability on disposal of assets
  • How to optimise your tax position when living o working abroad

With the complex nature of tax and finances today, we also encourage our clients to develop a comprehensive personal finance plan that, in addition to general tax planning covers including:

  • Provision for education costs
  • Mortgage planning
  • Saving & investments
  • Insurance planning
  • Healthcare provision
  • Retirement planning
  • Estate planning

Decisions made in any of these areas are likely to affect one or more of the others, which is why we recommend working within an overall plan. We can help you draw up comprehensive personal financial plan.

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Starting New Businesses

If you are thinking of starting up or buying a small business, we are delighted to offer you a free initial consultation so that we can introduce ourselves, you can tell us your plans, and we can tell you how we can help. We can then register your company with HMRC & National Insurance offices, we can provide you with advice on setting up PAYE schemes for employees and we also register the company for Vat
The initial consultation can be a meeting at our premises or yours, via the telephone or an email exchange and is entirely without obligation or commitment.

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Management Consultancy

The principle partner Sanjev Kainth has a proven track record in providing financial management support for a wide range of services. Clients appreciate that good financial planning and management are often at the heart of successful business.
With this in mind, he can offer all the expertise necessary to plan your business’s future – and devise integrated financial systems designed to meet your company’s individual needs and priorities. we can work together to combine our financial expertise with your detailed knowledge to assist you in building your business.

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Management Accounts

Management accounts are prepared with the aim of helping managers make important business decisions, whilst having the benefit of full financial information. Companies cannot always rely on the end of year accounts to understand their financial situation as they can miss a number of opportunities or make bad decisions, simply because they did not have access to accurate, timely, financial information. Management accounts can be produced monthly, quarterly, half-yearly or any other period that is relevant to you.

How can management accounts help improve your business-

  • Many business have commercial loans with retails banks, our service means you meet your contractual obligations of providing management accounts on a quarterly basis.
  • Having regular reports allows you to examine your cash flow, observe trends and seek additional capital injections (should it be required), based on accurate forecasts
  • By looking at a profit and loss statement you can very quickly see where your business stands in terms of profitability, on a regular basis, giving you the right information to make changes, if necessary.
  • Allows you to predict future events based on historical trend information, giving you an edge over your competitors.

Some of the formats of management accounts we can provide:-

  • Profit and Loss Statements
  • Balance Sheets
  • Cash Flow Forecasts
  • Debtor Listings
  • Creditor Listings

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Business Plan

In order to plan ahead successfully, it is important for you to have the clearest possible picture of your company’s current financial status. This is achieved by undertaking an initial review, so that the many inter-connected financial pressures on your business can be assessed and acted upon. The review will provide the foundations on which further plans can be built – and will help you to identify trends that may call for corrective action in the future.

Producing a business plan is crucial to ensuring that resources are used to the greatest possible benefit of your business – and provide a clear sense of direction. The plan will, for example, help you to monitor cash flows and profit forecasts so that you know when to inject new capital.
S Kainth will work with you – your bankers or other investors – to prepare an in-depth business plan, which will provide all the information required to assess your forthcoming cash requirements and profitability. By adopting such a far-sighted approach, and producing thorough financial projections, you can ensure that adequate working capital is in place to support expansion plans.

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Tax Investigation

When HMRC open an investigation into you they will send you a letter and normally ask you to supply them with particular business records, in such scenarios it is adviseable that you appoint a professional adviser to insure your interests are protected.

Sanjev Kainth is an expert in this field and is are able to provide you with advice on how to best deal with the situation. Once you appoint him as your representative he will endeavour to take away the stress of dealing with the HMRC and will deal with their requests during the course of the investigation, you can then get on with living your life without the added stress of waiting for the next letter from HMRC to come through your door.  He will be in regular contact providing you with updates and to request any documentation which is required by law to supply for the investigation.

Sanjev Kainth will personally negotiate with HMRC the outstanding tax due and a fair tax penalty. If you do owe additional tax you will be liable for a penalty but it is our job to get you as low a penalty and a fair penalty. If you do not owe HMRC then we will prove that! If we feel that HMRC are issuing incorrect assessments to you then we will appeal them on your behalf. We will NEVER agree a tax settlement if it is not legal and enforceable.

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