Services

Our comprehensive range of financial and business support services and ongoing strategic advice has helped many of our clients to grow and develop their businesses over the years.

Our aim is to provide a professional, personal, effective solution to all of your day to day accounting and taxation needs.

We provide a range of services to support all aspects of business administration.

We will ensure everything is in the right format, in the right place and at the right time, meeting any regulatory requirements and deadlines.

Accounts Preparation

Bookkeeping

We can help you with all your bookkeeping requirements, either at your offices or at our office.

You may require help to write up books or need us to add the finishing touches to information on bookkeeping systems in order to create your own management information.

If you do not employ a bookkeeper then we can take up the role or help you recruit the right person for your business.

Management information

Regular management information is vital to the continued success of any business. We work closely with you to get to know your business so we can make suggestions to help improve profits or to develop and grow your business. We can prepare your monthly or quarterly management accounts to ensure you always have reliable and accurate information on which to base your business decisions.

Annual Accounts

Our dedicated team will ensure that your accounts are prepared accurately and comply with all relevant regulations. Our team of experts can help enhance opportunities for your business and minimise any risks which have been identified.

In accordance with ACCA’s professional ethics guidelines, at KBMD we ensure a reliable and honest service.

Business Consultancy

We will help you to:

decide on the most suitable structure for your business
prepare a business plan, cashflow projections, budgets, and trading forecasts;
assess the finance requirements, advise on the best sources of finance and draw up the necessary proposals;
establish a good working relationship with your bank;
complete any registration procedures with Companies House, HMRC and Customs & Excise;
deal with company secretarial issues;
set up a recording system for your internal use and for complying with statutory requirements;
decide on what computer hardware to buy and help with the installation of accountancy software;
keep on top of bookkeeping, VAT, payroll and other accounting requirements; and
help with all aspects of business compliance and administration.

Business planning and forecasts

Every business should plan ahead to ensure success but daily business pressures often conspire to delay the strategic planning process. Financial forecasts are a crucial part of any business plan and we will ensure these are both meaningful and robust.

Liaising with banks and institutions

We offer support when liaising with banks and other financial institutions. Drawing on our wealth of experience we can support our clients through this often daunting experience.

Compliance services

We provide a range of compliance services to support all aspects of business administration. We can help you by making sure accounts are prepared in the correct format, statutory books and other company secretarial records are kept up-to-date and that all statutory returns are prepared. Our experienced team will relieve you of the regulatory burden and leave you more time to concentrate on other areas of your business. In short, we will make sure everything is in the right format, in the right place and at the right time. Our range of compliance services includes:

annual accounts;
company secretarial services;
payroll procedures;
tax returns

Support services

The combination of your business knowledge and our support services will help your business to grow and increase profitability.

Running a payroll can be time consuming and complicated and divert resources from the core activities of your business. We can address this by installing payroll software and training your staff.

Outsourcing your payroll is a strategic decision. Ask yourself – is your company able to do the calculations and deal with the details of the payroll with almost 100% accuracy, timeliness and compliance to tax, law and government legislation?

Even if you have a few employees, you will make savings by engaging us to administer your payroll.

Our confidential and comprehensive service includes:

computer generated payslips
completion of statutory forms (including year end returns)
administration of PAYE, NIC, sick pay, maternity pay, etc
summaries and staff cost analysis

Business start-up

Most people starting up in business do so because they have a good business proposition and the enterprise and commitment to see it through. However, they may not be experts in the legal and financial aspects of running a business and such matters often appear daunting. Fortunately you do not need to be an expert in these fields to succeed in business but you do need the support of a team of trained experts. We can help. Just bring us your business ideas and we will help you to make them a reality! We will help you to:

decide on the most suitable structure for your business – sole trader, partnership, limited liability partnership or limited company;
prepare a business plan, cashflow projections, budgets, and trading forecasts;
assess the finance requirements, advise on the best sources of finance and draw up the necessary proposals;
establish a good working relationship with your bank;
complete any registration procedures with Companies House, Inland Revenue and Customs & Excise;
deal with company secretarial issues;
set up a recording system for your internal use and for complying with statutory requirements;
decide on what computer hardware to buy and help with the installation of accountancy software;
keep on top of bookkeeping, VAT, payroll and other accounting requirements; and
help with all aspects of business compliance and administration.

Sole trader This is the simplest method of operating your own business. This will entail registering as self employed with HMRC using a CWF1 form or you can do it online and paying Class 2 National Insurance contribution, usually by direct debit. Partnership If there are two or more people in your business, you might want to consider this structure. Each partner pays income tax, through the self assessment systems, as well as class 2 and class 4 National Insurance and the business pays VAT once you reach the registration threshold. Limited Liability Partnership (LLP) An LLP is an alternative corporate business vehicle, introduced on 6 April 2001, which gives the benefits of limited liability but allows its member the flexibility of organising their internal structure as a traditional partnership. An LLP is different from the traditional partnership in that it is a legal person separate from its members. In many ways it is a partnership in name only. It has “members” rather than partners and must be formally incorporated to exist. Limited Company Trading through a Limited Company has become increasingly popular, due to flexibility and tax efficiency. Whilst there are other options as detailed above, these rarely prove to be as tax efficient and/or compliant with tax laws. If you are contemplating starting your own business, this might be enough to put you off. However with the benefit of our experience you will find it more straightforward than it may first appear.

Tel: 020 8909 1110 info@kbmd.co.uk