Expert accountancy services for small and micro businesses.
Services
We are here whenever you need us!
We offer a range of accounting services, including regular Bookkeeping & Management Accounts, VAT & CIS returns, Payroll, Year End Accounts and CT600 Returns, Self-Assessments, Sole Traders and Subcontractors management.
We are more than just accountants. We work alongside you to set up systems and processes, digitalize your accounting solutions, and streamline your operations. Our team is dedicated to supporting you in achieving sustainable growth and profitability, allowing you to focus on what you do best.
Bookkeeping
At Busy Bee, we recognize that meticulous bookkeeping is the foundation of any successful business. Our approach is distinctively personalized and proactive. We believe in sitting down with you to gain a comprehensive understanding of your business and its unique goals.
Our process begins with a thorough analysis of your income and expenditures. By capturing each transaction with precision, we ensure that your financial records are not only accurate but also insightful. This detailed recording enables you to access critical financial information that empowers you to make informed decisions, effectively measure performance, and strategically plan for the future.
Partner with us to transform your bookkeeping from a mere compliance task into a powerful tool for financial clarity and business growth.
Corporation Tax Return
Running a business is hard enough without losing sleep over corporation tax returns. As a business owner, you're responsible for filing a self-assessment Company Tax Return with HMRC, ensuring it’s done by the correct date to calculate any tax you may owe. This complex procedure comes with hefty penalties and interest charges if deadlines are missed, and you must keep comprehensive records of your company’s income and outgoings for tax purposes.
How Can Busy Bee Help with Your Corporation Tax?
At Busy Bee, we offer a range of services to simplify the corporation tax process for you:
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Prepare Your Company Accounts: We ensure your company accounts are accurately prepared, reflecting your financial performance and position.
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Prepare the Company Tax Return (CT600): Our experts handle the preparation of your CT600, making sure all relevant details are included.
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Calculate the Rate of Corporation Tax: We determine the correct rate of corporation tax you need to pay.
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File Your Company Tax Return: We file your Company Tax Return on time, ensuring compliance with HMRC requirements.
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Discuss Payment Methods: We advise on the best methods for paying any corporation tax due, ensuring you pay the right amount on time.
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Handle HMRC Correspondence: We manage all communications with HMRC, so you don’t have to worry about it.
Avoiding Missed Deadlines
Corporation tax deadlines can be confusing, with different dates for various requirements:
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Payment Due: 9 months and 1 day after your year-end.
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CT600 Filing Due: 12 months after your year-end.
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This means your tax payment is due before your CT600 is filed.
Paying your corporation tax early can earn you interest, while missing the deadline incurs interest charges.
Why Choose Busy Bee?
At Busy Bee, we adopt an informal and relaxed approach, making everything straightforward, simple, and clear for our clients. We help take the hassle out of corporation tax, allowing you to focus on what you do best – running your business.
Limited Company Accounts
The importance of accurate and timely annual accounts cannot be overstated, as they play a vital role in the financial health and compliance of your business. That's why we offer our exceptional accounting services to handle this critical task for you.
By partnering with us, you can avoid the hefty fines and complications associated with missed deadlines and errors in your annual accounts. Our dedicated team is here to support you every step of the way.
VAT Returns
At Busy Bee Accountancy, we specialize in providing VAT preparation and review services tailored for small businesses. Our dedicated team ensures you are on the correct scheme and that all details are accurately accounted for, guaranteeing your returns are submitted on time. With our comprehensive VAT services, you can focus on running your business with confidence, knowing that your VAT returns are handled correctly and efficiently.
Businesses with a taxable turnover exceeding the VAT threshold (which can change annually) are required to register for VAT with HMRC. Voluntary registration is also possible if a business's turnover is below the threshold, offering potential benefits. Once registered, businesses must charge VAT on taxable sales, typically added to the sales price. The VAT rate varies depending on the goods or services provided, including standard, reduced, and zero rates.
VAT-registered businesses must file periodic VAT returns with HMRC, detailing the VAT collected from customers (output VAT) and the VAT paid on purchases and expenses (input VAT). The difference between output and input VAT is the amount payable to HMRC, or in some cases, a refund. Accurate VAT compliance is crucial, as incorrect calculations, late filings, or other errors can lead to penalties, interest charges, or legal consequences. Maintaining proper VAT records and submitting accurate and timely VAT returns is essential.
Some businesses may qualify for special VAT schemes, such as the Flat Rate Scheme or the Annual Accounting Scheme, simplifying VAT reporting and payment processes. Additionally, businesses providing a mix of taxable and exempt supplies may be subject to partial exemption rules, requiring complex calculations to determine recoverable input VAT.
Choose Busy Bee Accountancy for reliable and thorough VAT support, ensuring your business meets all VAT requirements efficiently and accurately.
Management Accounts
Management Accounts are financial reports that provide a current and comprehensive view of your business’s financial health. Unlike end-of-year accounts, which offer a retrospective look at your finances, Management Accounts give you timely insights throughout the year, enabling you to make informed and strategic decisions that can shape the future of your business.
Many small businesses rely solely on end-of-year accounts to assess their financial position. While these annual reports are essential, they often highlight missed opportunities or poor financial choices when it's too late to take corrective action. With regular Management Accounts, you can access relevant financial data and key performance indicators (KPIs) in real time, allowing you to act promptly to improve profitability, manage cash flow effectively, and address any issues before they escalate.
The information contained in Management Accounts typically includes a breakdown of income and expenses, profit and loss statements, cash flow forecasts, and balance sheets. These reports also allow for comparative analysis, helping you track performance against your budget, previous periods, or industry benchmarks.
At [Your Firm Name], we use dedicated accounting software that integrates seamlessly with your business systems to provide real-time access to your most critical financial data. This technology ensures that the information you receive is accurate, up-to-date, and reliable. With this data at your fingertips, you can monitor business performance closely, make data-driven decisions, and ultimately steer your business toward growth and success.
Management Accounts are not just about reviewing past performance; they are a proactive tool to help you plan for the future, maximise profits, and avoid potential pitfalls. Whether you're looking to expand, improve operational efficiency, or simply maintain a healthy financial position, our Management Accounts service can give you the insights and control you need to make the right decisions for your business.
Construction Industry Scheme (CIS)
CIS – the backbone of the UK construction industry. Whether you're already in the game or gearing up to start your own construction business, CIS is something you need to wrap your head around.
Here at Busy Bee, we've got your back. We'll walk you through the ins and outs of CIS, explaining how it affects your tax situation and ensuring you stay on the right side of HMRC by handling the nitty-gritty stuff for you. No need to stress about navigating the complexities of CIS alone – let us handle it while you focus on building your dreams!
Self Assessment Tax Return
Are you getting all the tax deductions you deserve? Whether you're a sole trader, a company director, or just about anyone who needs to file a tax return, we're here to help you maximize your savings while staying on the good side of the rules.
Get in touch today, and let's make sure you're not leaving any money on the table!