Stephens | Tax Investigation

Tax Investigation

Stephens Accountants, have been serving local businesses with any HMRC Tax Investigations inPontefract, Castleford, Normanton, Knottingley and South Kirkby and surrounding areas, for over 26 years.

In April 2009 things changed for your business. HM Revenue & Customs (HMRC) were granted increased powers of investigation and a stricter penalty regime, which is expected to substantially increase the amount of extra tax and penalties collected, how would your business fair if your affairs were investigated?

HMRC have the ability to investigate and challenge the tax returns of any company or individual. Such tax enquiries are, at the very least disruptive, but can become extremely labour intensive and costly as well as very stressful for the parties involved.

So How Can We Help You?

Stephens Accountants have launched a new Tax Investigation Insurance Cover scheme, with the sole aim to protect you from the stress and expense of a tax enquiry.

Until now these matters were tackled on a case by case basis but this fresh approach is aimed at providing comprehensive protection to you, thus ensuring you do not get burdened with high fees to combat any tax investigation or tax enquiry.

Stephens Accountants have invested in providing a comprehensive tax investigation support service which includes:

• Full Enquiries (All aspects of the business tax affairs)
• Aspect Enquiries, (individual points queried on any tax return)
• Pre-dispute costs, (replies to seemingly simple questions)
• Compliance visits and business inspection notices,
• Personal tax affairs of all directors, partners and spouses.

Experience You Can Count On

Stephens Accountants have established an extremely good record in dealing with, and managing tax enquiries over the years. This success has allowed us to secure you the best possible cover with a very reputable insurer all at a very low price. This service is designed to protect you and your business from the huge financial implications of an investigation or dispute with the tax authorities.

This service covers the full cost of our fees and any specialist consultants required for a tax investigation or tax enquiry.

This comprehensive tax investigation insurance allows us to recover the full cost of representing you under this policy, so in most cases you pay nothing at all. There is also no excess to pay either on each claim made.

This policy also provides us access to external experts in all fields of tax legislation and Revenue practice so you can be assured that the best man for the job is always on hand if matters get complicated or should be required.

Your Peace Of Mind Is Important To Us

By subscribing to this low cost policy with Stevens Accounting, you can save thousands of pounds in fees and will give you the confidence that any tax enquiry or tax investigation will be defended vigorously without you having to worry how much we are going to charge you.

Whilst some of our clients may be members of the FSB and other similar trade groups that may appear to offer a similar service as part of their membership, it is highly unlikely that you will have the same level of benefits as our service offers.

More importantly, should you decide to go with their service, we must point out that Stephens Accounting will not be able to act for you in the event of an enquiry.

Want To Chat Please Get In Touch

The cost for Tax Investigation Insurance is ordinarily 5% of your annual fees with us, but please contact us for a quotation or speak to us about your requirement. Don’t delay in making this important decision that could save you thousands of pounds.

For further information on our Tax Investigation services for businesses in Pontefract, Castleford, Normanton, Knottingley, South Kirkby and the surrounding areas please Contact Us.

Stephens - Southgate Business Centre.

Rooms now available! For rent at our superb facility Southgate Business Centre.

• -  Manned reception Mon to Friday, meet and greet.
• -  Free meeting room by appointment
• -  Kitchen and canteen area
• -  DDi numbers available. Free message service if you are out.
• -  Free dedicated secure fibre broadband (small set up fee)
• -  Free telephone line rental, just pay for the calls.
• -  24/7 access with security fob and CCTV
• -  Limited free parking.
• -  Secure storage cellar, by arrangement.
• -  Franking machine postal service and office bureau services at extra cost.

Rooms from £300 plus VAT per month.

Flexible licence agreement 1 months notice only.

Stephens | Sage One Accounting

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Gemma uses Sage One Accounting to manage her business on her Mac, Macbook Air, iPad or iPhone and says "I like Sage One because wherever I have access to the internet, I have access to the company's finances. Sage One is in my handbag, in my pocket, wherever my tech is - and that's why it's perfect for the business."

Find out more and take a free 30 day trial today at

 http://uk.sageone.com/products/

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 Sage One is the simple online  accounting software for small  businesses from Sage. 

Find out more and take a free 30 day trial at:

http://uk.sageone.com/accounting/

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VISIT OUR WEBSITE   

CALL ON: 01977 791757

Stephens Accountants | Tax Planning

If you're looking for specialist Tax Planning services in Pontefract, Castleford, Normanton, Knottingley, South Kirkby and surrounding areas, then Stephens Accountants can certainly help. We offer specialist tax planning advice for small businesses just like yours.

Tax can be a substantial cost to profitable businesses and individuals. Tax planning for small business is imperative as these costs include the tax itself as well as the costs of complying with reporting obligations, dealing with enquiries from the tax authorities and penalties for non compliance.

We can help by relieving you of the administrative burdens and can advise you on how to minimise your tax liabilities with our tax efficiency advice

If you are starting out in business we can help you ensure that all of the initial registration requirements are met and help you to plan for future liabilities by explaining the tax system in plain language. We can provide you with a report on all of the tax consequences for any particular transactions you are considering with suggestions for mitigating liabilities, indeed a complete tax planning service for small business.

We can offer advice on a wide range of topics including:

Business Tax Planning And Tax Strategies

• Pre-Year End Tax Planning: We recommend a review of the company’s position shortly before the accounting date to advise you of the tax saving measures that can be put in place before your year end to mitigate the company’s and your personal tax liabilities.
• Tax strategies: We actively investigate opportunities to take advantage of advanced tax mitigation, reduction and elimination strategies. As part of our wide range of services available, we have arrangements allowing our clients to access through us the services of the country’s leading providers of innovative tax strategies which can offer significant tax savings in all areas of taxation, such as income tax, profit extraction from your company, capital gains tax and stamp duty. Please note that due to the nature of tax law the available strategies are constantly changing so please contact us with your particular requirements.

Capital Gains Tax

Whether you are selling shares, property or other assets we can explain how capital gains tax works, calculate the liability and advise you of any reliefs available to reduce the bill.

Corporation Tax

To comply with your corporation tax obligations we will prepare the company tax computation and tax return, submit these with your accounts to the Inland Revenue and advise you of corporation tax liabilities due. We will point out any opportunities for savings, from claiming additional reliefs to restructuring your affairs in a more tax efficient manner.

We can, at your request, conduct a review of the companys position shortly before the accounting date to advise you of any tax saving measures that can be put in place before your year end.

HMRC Enquiries

Enquiries into your tax affairs by HM Revenue & Customs can be a very intimidating experience. The Revenue is entitled to enquire into your tax affairs at random, and as such, they never say why they are investigating.

Their random enquiries are generated by computer so they may investigate without even a suspicion of anything being wrong, but none of this eases the stress.

We can help by acting as an intermediary between you and the Revenue, reviewing their interpretations of your financial transactions as well as their interpretation of tax law.

We will handle correspondence with the Revenue, keeping you informed at all stages, and negotiating on your behalf so as to minimise the disruption to you.

Income Tax And National Insurance

We can prepare your Self Assessment Tax Return and calculate liabilities to income tax and national insurance each year. We will advise you of the due dates for payment and we will point out any opportunities for savings, from claiming additional allowances or credits to restructuring your affairs in a more tax efficient manner.

Inheritance Tax

Even after changes and anti-avoidance legislation in recent budgets, there are still a number of actions you can take to make sure more of your estate reaches your desired beneficiaries rather than the treasury. Contact us to arrange a free initial review.

International Tax Planning

We are experts in advising non-UK domiciled individuals in all areas of taxation on coming to and leaving the UK. We can also advise those who have lived in the UK all their lives, who suddenly find themselves with an opportunity to work outside the UK.

We can give you the basics of the tax system in the country you are travelling to, keep your UK tax affairs in order while you are away and make contact with advisers in your destination country who can advise you on the local position.

Stamp Duty

Stamp duty applies to certain share transactions, while transactions in property is now subject to Stamp Duty Land Tax. If you have a transaction in mind (whether a sale, purchase, gift or company restructuring) we can advise you of the tax due, the reporting requirements and offer advice on how to keep the tax charge as low as possible.

Value Added Tax

We will assist in the preparation of VAT returns, advise on the rules and assist with VAT visits and the response to queries. We will advise on elections such as option to tax, use of specific schemes and assist with any other VAT matters.

For further information on our Tax Planning services for businesses in Pontefract, Castleford, Normanton, Knottingley, South Kirkby and the surrounding areas please Contact Us

Stephens Accountants | Business Plans

Stephens Accountants have been helping local businesses in Pontefract, Castleford, Normanton,Knottingley, South Kirkby and surrounding areas, for over 26 years, with their business planning.

Fail to plan or plan to fail with our business plan services we will put together the solid foundation you need for success!

Whether you need to prepare a business plan to present to the bank or to a potential investor or for purely internal use, doing it well is crucial, using our business plan help we will ensure your foundations are put in place for a solid future. To write a business plan is imperative as its an essential tool for the successful management of your business, and is particularly relevant in times of economic uncertainty or downturns in the business cycle.

If you are starting a business then a business plan is the first thing you should consider to keep you on track during the critical first few months and years.

Business plans should aim to give more than a snapshot of the future. Because circumstances, people and opportunities change, a good business plan will help you to understand and share the moving picture, an ever evolving situation. Business plans therefore need to be dynamic, regularly reviewed and updated, becoming an invaluable aid to good management. They prove to others that your business is well thought out and much more likely to succeed.

The Benefits Of A Good Business Plan

By planning ahead many benefits will accrue, for example, you can:

• Step back from the day to day working and consider the overall direction of your business, facilitating decisions regarding strategic goals and the route to success
• Make better-informed judgements having previously considered the impact of a particular cause of action on profitability for your business
• Ensure the decisions you make on behalf of your company drive you in the right direction
• Help you ensure that there are adequate resources and working capital to achieve your objectives and business goals

Additionally, a properly documented business plan should:

• Provide the necessary vision and direction for you and all your stakeholders to share and hence focus on building your business
• Inspire confidence and belief in your business potential and direction
• Provide a document recognised by lenders and investors as a basis for financing decisions
• Enable key staff to participate in the long term future of the organisation by setting out clear business objectives which help your staff define their own career paths

There is no definitive guide as to the precise form and content of a successful business plan, but the rules below are valuable. Your plan should be:

Simple: for the user to understand and for you to follow
Focused: on the business needs and where you want the business to go
Relevant: to the users interests and your personal goals
Accurate: be prepared to justify your analysis
Realistic: information must be believable

For further information on Business Plans for businesses in Pontefract, Castleford, Knottingley, Normanton, South Kirkby and surrounding areas please Contact Us.

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Stephens Accountants | Business Start-up

Research shows that 80% of new businesses fail within the first five years and a large percentage cease trading within their first year, starting a business is tough, we can give you a helping hand.

Business Start-ups with a good accountancy firm behind them, enhance their chance of business success significantly. Stephens Accountants offer business start up services in Pontefract, Castleford, Knottingley, Normanton and South Kirkby and have helped many of the new businesses in the 5 town areas for over 25 years.

So if you are thinking of starting a business or you have recently made those initial steps, then our business start up service has been developed with you in mind.

The effective planning of your business start up is critical and the team at Stephens Accountants have been supporting business owners like you for over 20 years with our knowledge, expertise and first class service.

So How Can We Support You In Starting Your Business?

The decision about the format of the business is key. Limited Company, Sole Trader, Partnership, all offer different advantages and dependant on your business type may determine how your business should be set up to maximise tax efficiency, business flexibility, corporate red tape and ultimately less cost. This is a discussion we need to have BEFORE you do anything!

If appropriate, we can discuss the options, have the business set up with, for instance, a company name, registration number, registered office, directors, shareholders and bank account within 7 days. Websites, branding, stationery, marketing etc all available from our partners.

Of course we offer a traditional range of services designed to support your business thereafter , such as:

• Accounts preparation
• Business planning
• Tax advice including tax planning, compliance and VAT
• Raising finance
• Bookkeeping
• Company secretarial services

We will be able to help with those how to questions and help you set up a business that best suits your products, services and personal circumstances. You’ll have lots of questions that we have the answers too.

For further information on our business Start-Ups in Pontefract, Castleford, Knottingley, Normanton, South Kirby and the surrounding areas please Contact Us.

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Stephens Accountants | Company Secretary Services

Many local businesses, in the Pontefract, Castleford and surrounding areas use our Company Secretary Services not simply to meet their legal obligations but to also in the knowledge that they have a dedicated professional available to them when needed to help guide their business.

At Stephens Accountants, based in Pontefract, we provide an extensive Company Secretary service and can assist in all areas ranging from the inception of a limited company to easing the day to day running and administration burden. Although not all businesses need a Company Secretary it is important to keep all statutory forms up-to-date so it might be that you need one on a consistent but infrequent basis.

Completion Of Statutory Forms

Running a business is difficult enough without all the red tape. Our Company Secretary service takes care of the day to day administration and form filling on your behalf, leaves you free to concentrate on what really matters, growing your business.

Maintenance Of Statutory Books

Rather than spend hours each week worrying about records and never really being totally sure you have done everything right, Stephens Accountants offers a cost effective and efficient service so you can sleep easy in the knowledge that your books are being managed by experts who are always up to date on the latest requirements of company law as they apply to your business.

Provision Of Registered Office Service

To ease the burden of day to day post and administration, your could use our business address at Pontefract as your registered office address and let us deal with all correspondence on your behalf. This ensures only relevant correspondence is forwarded to you and your directors and any junk mail is dealt with on your behalf, helping you to work more efficiently, not harder.

Company Formations

Either over the phone, or via our on-line service for quick company formations so you can secure a company name in less than 24 hours. We deal with everything involved and always have a number of shell companies that are available at low cost off the shelf.

To help you further we can also assist in checking for website domain name registration and any other areas related to business formation and starting a business that you may need.

For further information on our Company Secretary Services in Pontefract, Castleford, Knottingley, Normanton, South Kirkby and the surrounding areas please Contact Us.

Stephens Accountants | Payroll Services

Payroll Services

Stephens Accountants, have been providing Payroll Services for over 25 years in the five town areas of Pontefract, Castleford, Knottingley, Normanton and South Kirby, as well as the surrounding areas.

Keeping up to date with the latest payroll legislation, holiday calculations and PAYE calculations can be a real headache for small business owners. Stephens Accountants specialise in helping you ease the pain with our dedicated payroll services that help you navigate the maze of legislation while making payment of wages less of a burden for you.

Do you need support keeping up with payroll legislation and paying your employees? Then you need our Payroll Business Services.

If you wish to discuss the benefits of having Stephens Accountants provide you with your payroll business services with a professional, confidential and reliable payroll service then please Contact Us.

Unlike some payroll service companies, this service is available for any size of business on a weekly, fortnightly, four weekly or monthly basis and includes the following:

·         Redundancy calculations

·         Holiday pay calculations

·         SSP/SMP calculations

·         Record student loans and payment of tax credits

·         Production of management reports

·         Production of payslips

·         Transfer of monies into company bank accounts

·         Inform client of PAYE to be sent to Inland Revenue on a monthly basis

·         Production of P14, P60 and P35 at year end

·         Online filing of year end returns, attracting HM Revenue & Customs incentives

·         Email payslips and reports

·         Payroll journals.

This competitive and comprehensive payroll business service will provide you with the confidence that all your payroll needs and legislative commitments are being met, releasing you to spend your time developing your business.

Employment Legislation

Our payroll department can offer expert advice on all aspects of employment legislation, including:

·         Maternity rights

·         Employee and employer rights

·         Contracts of employment.

Employer Compliance

We can help you to meet your year end reporting obligations for expenses and benefits on form P11D. We offer advice on what items should be included on the forms, we can help you complete the forms or simply check them on your behalf, as well as advising you of any class 1A National Insurance liability.

For further information on our Payroll Services in Pontefract, Castleford, Knottingley, Normanton, South Kirby and the surrounding areas please Contact Us.

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Stephens Accountants | Accounts Preparation

Accounts Preparation

Our Management Accounts Preparation service is one of our most popular services for small business owners in Pontefract, Castlelford, Normanton, Knottingley, South Kirby and surrounding areas, we have clients in a variety of businesses that use our accounts preparation services before each year end (and also throughout the year) to make their life that little bit easier.

After working with you to understand how best we can help your business, you will benefit from our friendly and efficient accounts preparation service. You will receive a service tailored to suit your individual needs.

Limited Companies

We offer an efficient and competitive accounts preparation service for limited companies in Pontefract and the five towns region

We strive to ensure the service we provide to our clients is first class. We produce accurate financial statements to suit the directors needs and meet legal requirements. We ensure that we work to your required timescale and assist in the understanding of the content of these statements. The extent of our work is tailored to the size of your company and your specific requirements.

Sole Traders and Partnerships

We offer an efficient and competitive accounts preparation service for self-employed individuals. We strive to ensure the service we provide to our clients is first class. Our specialised accounting department provides a speedy service no matter how good (or bad!) the quality of your accounting records are. Our accounts preparation service includes a full review of the accounting records with suggestions and recommendations to improve the quality of the records.

Limited Liability Partnerships

We will prepare accounts to meet your statutory filing obligations. Our efficient service is tailored to the needs of you and your business.

CIS Subcontractors Self-Assessment Accounts

This service involves the reconciliation of contractors’ payments, income and expenditure accounts and income tax refund claims.

Income and Expenditure Accounts

The absolute minimum requirement for self-employed individuals is the preparation of a statement of their income and expenditure for self-assessment purposes. However, we generally recommend that full accounts are prepared for the majority of businesses, due to the added assurance this provides both to you and HM Revenue & Customs. If you are unsure what the best option is for you, then please call.

Rental Statements

We can prepare profit statements of income and expenditure relating to the letting of properties for inclusion on the self-assessment tax returns. As part of the service we will discuss with you all expenses you may be able to claim to reduce your tax liabilities.

For further information on our Accounts Preparation services for businesses in Pontefract, Castleford, Knottingley, Normanton, South Kirby and surrounding the areas please Contact Us.

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