+44 (0)208 337 4465
+44 (0)208 337 4465
UK’s changing tax regulations make on-going tax planning an essential part of doing
business in the UK. Tax planning and organisation is essential to avoid uncertainty
or disagreement with the local tax office.
CAP has extensive experience in providing tax services to foreign and domestic enterprises, as well as individuals and representative offices. Through its long, close working relationship with the tax authorities, CAP offers comprehensive taxation services. These services include the development of tax optimisation structures, transfer pricing policy aligned with corporate strategy, compliance with UK tax regulations, liaising with tax authorities and preparation and submission of tax returns.
Individual income tax (PAYE) is know as PAYE that needs to be paid over your salary in the UK. This is completed through the employer who should deduct the correct amount of income tax before payment of the salary, to make it easier for staff. Another form of individual income tax is known as self-assessment system. This is for self-employed businesses and partnership who needs to complete self-assessment tax return once in a tax year. We can help you achieve the most efficient way to structure your tax payments and we offer this service to anyone, whether you are a self-employed director of a new enterprise, sole-traders, contractors or an employee at a foreign multinational.
Tax planning is vital to optimise tax liabilities in the UK. CAP offers extensive tax planning and encourages the ideology that your business must be commercially viable and balanced to yield tax efficiencies and mitigate the risk of challenge to you by the tax authorities. At CAP our clients have the opportunity to exercise many taxation services. These include developing tax optimisation structures, tax restructuring for mergers and acquisitions and negotiating with tax authorities for a suitable preparation and submission of tax returns. We have a vast knowledge of transfer pricing policies in line with both corporate international strategy and in compliance with UK tax regulations. From CAP’s extensive network of professional services, firms we are able to assist companies in effectively planning and structuring.
With UK’s fast-paced accounting sector, it is challenging for many firms to keep on top of new legislation and accounting standards. At CAP, our staffs are adept in providing financial accounting and bookkeeping services to both local and multinational clients. In addition, we seek to add real value to your business, working closely with you to provide quality management accounting information on top of regular Accounting & Bookkeeping services that are required to uphold basic accounting laws and regulations.
Accounting & Bookkeeping standards in the UK differ from other countries even though most countries’ GAAP have been modified to similar to the International Financial Reporting Standards (IFRS). However they are still many countries that operate within their own GAAP regulations. At CAP, with our years of experience, we are familiar with IFRS, UK GAAP and others individual countries’ GAAP. Outsourcing your accounting and bookkeeping to our Practice gives you access to our professional and long standing accounting team. We enable you to save money through an efficient and specialised service that is fast, accurate, clear and concise. We can offer a flexible, tailor-made solution to any developing issue – providing the very foundations to grow a successful business. CAP can assist you with your Accounting & Bookkeeping, Outsourcing Services, Budgeting & Forecasting, Financial Statement Preparation and Head Office Reporting.
Every accounting and bookkeeping GAAP has its own standards and sometimes allows for more than one way to report. For example, there are different rules for impairment of assets, inventory costs & reversal, capitalisation of development costs, depreciation expenses, interest & dividend expenses and asset valuation. Those different methods can have an impact on your business ratios, profitability and tax burden. Our team have strong knowledge of these differences in reporting in regards to your country standards, thus we can help you choose the method that is the most profitable for you businesses.
Head Office Reporting/Corporate Reporting is vital in the management and performance of a company’s accounting/ book keeping activities. Managing the production and publication of accurate and timely financial reporting under the International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP) is a key role in head office reporting. This task requires keen communication, efficiency, organisation and analysing of financial statements. The provision of accuracy is fundamental in head office reporting. enquiry@choacca.co.uk
For business purposes, a financial statement consists of all the relevant financial information, presented in a structured manner and in a form easy to understand. Financial Statements always include a statement of financial position, statement of comprehensive income, statement of changes in equity and statement of cash flows. For large corporations, these statements are often complex and may include an extensive set of notes to the financial statements and an explanation of financial policies and management discussion and analysis.
Preparation
The preparation of financial statements is one of the final steps in the accounting cycle, which can help to measure the success of business operations over a period of time. Financial reporting is focused on providing entities with useful financial information about a company. For business partners, managers, prospective investors and lenders, the preparation of the financial statement is vital as it is often used to assist them to facilitate future economic decisions and evaluate the financial condition of the company. The utmost care and attention should be taken to ensure that all information in the financial statements is reliable and presented in a concise and structured manner. If ill-prepared with incorrect information or incoherently published, the financial statement could affect investors’ trust and consequently impact the funding of that business or impact the investors themselves who are crucial to the economic system. Bankers, suppliers or investors may also request statements and use the financial information to create different ratios.
Many companies investing into the UK are finding that their internal departments, including finance, are too small to generate the critical volume and efficiency that is demanded by an effective business strategy. In order to play a key role in the company’s development, the CFO needs to have a deep understanding of the business environment in which the company is operating. This is particularly important in the UK market, which is characterised by constantly evolving laws and complex regulations.
CAP International Accountants’ CFO services team is extremely heterogeneous, being formed by people presenting knowledge in different sectors. This enables us to provide a high standard across a variety of industries and assist companies in development strategies for many different operations. To make an enquiry, please contact us at enquiry@choacca.co.uk
Many businesses in the UK have gained benefits from outsourcing the Finance Manager function of their business. The financial activities of a firm are among the most complex and important activities in the business operation. It follows, therefore, that a Finance Manager ensures all the requisite financial activities are performed to ensure survival, profitability and growth of the enterprise. Applying general management practices to financial resources is known as Financial Management. It is paramount for the Finance Manager to remain level-headed to ensure monetary funds are allocated and utilised in the most efficient manner. There are four main roles that a Financial Manager must perform:
1.Raising of Funds 2.Allocation of Funds 3.Profit Planning 4.Understanding business process
CAP can provide accurate accounting data to the Finance Manager, in order for them to aid them in making the best decisions for the future of the enterprise. Furthermore, by providing key information about specific factors effecting the profitability and financial situation of an enterprise, target areas for action are made obvious to the Finance Manager. Through years of experience, CAP has acquired knowledge in a wide array of methods in corporate financing and therefore can tailor financing strategies individually to each company’s needs, ensuring the business operates efficiently.
• Accounting and Bookkeeping • Payroll Services • Treasury Management • Restructuring Debt • Cost saving • Creating and sustaining relationships with capital providers • Financial Ratios • Dividends Distributions
Corporate establishment in the UK is common for three main business structures. This includes; Private limited company, UK establishment of overseas companies and charitable company. CAP provides company registration and maintenance services.
Incorporation of private limited company
Incorporation is the process by which a new or existing business registers as a limited company. A company is a legal entity with a separate identity from those who own or run it. The vast majority of companies are limited liability companies where the liability of the members is limited by shares or by guarantee.
It may be worthwhile seeking professional advice from a solicitor or accountant before deciding whether an incorporated company is the best way for you to run your business.
Limited company has 100% of shares owned by shareholders with limited liability, offshore or holding companies. Capital requirements in the UK is relatively generous which starts from ￡0.01 per share. Benefits are being eligible to become employer in the UK, invoicing to customers and raise investment as a private limited company.
UK establishment is the phrase used in the Overseas Companies Regulations 2009 to refer to a place of business or branch of an overseas company in the UK. The use of UK establishment in the law has ended the different registration and disclosure regimes for places of business and branches that were in place before 1 October 2009. All places of business and branches registered before 1 October 2009 have become UK establishments and given a ‘BR’ prefix to their registered number. If you were a branch or place of business before 1 October 2009 you may need to file a Transitional Return form (OS TN01) to ensure Companies House holds the correct information for your UK establishment.
You may register an overseas company using its corporate name (its name under the law of the country of incorporation), or an alternative name under which it proposes to carry on business in the UK. If an alternative name is registered it is treated for UK legal purposes as a company’s corporate name and must be used on any forms that ask for the ‘company name’. There are a number of controls and restrictions which apply to your choice of company name. These are explained more fully in our ‘Incorporation and Names guide’.
A business inevitably comes into contact with the law, often in the two legislation: Company Act and Employment. Both legislations are of equal importance which is why at CAP we have professional serivces to help you navigate these fields as well as in other, less common, legal fields.
With members who are ready to dive into a problem and to find you a solution, we at CAP are equipped to support clients with their legal support requirements across a variety of industries. Being a firm that works with a diverse group of companies we are able to tailor to your individual needs. In the UK we have been accountants and advisors for companies to grow their businesses and being able to provide legal advisory service that plays an important role in the field. We also understand that legal situations can often be highly sensitive. Our members handle your case under strict confidentiality.
It may be worthwhile seeking professional advice from a solicitor or accountant before deciding whether an incorporated company is the best way for you to run your business.
To make an enquiry about Legal Advisory service, please contact us at enquiry@choacca.co.uk
CHOACCOUNTANCY
& PRACTICE
Tel : +44 (0)208 337 4465 l
Email : enquiry@choacca.co.uk