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Accountancy Services

Sole Traders / Partnerships

  • Preparation of financial statements.
  • Preparation of income tax and capital allowances
  • Computations; including calculation of tax liabilities and repayment.
Sole Trader Accounts
  1. The big question for any new business - 'what legal entity to be?'
    • sole
    • partnership with wife or friend
    • limited
  2. The type of books and records to keep.
  3. How to save for tax / register with the Inland revenue and National insurance.
  4. How to run a business; advice on all matters including collecting debts, credit control and limits etc.
  5. Funding and banking; advice on where to go, overdraft implications or borrowing from family etc.
  6. Staff - the legal implications. Wages - contracts of employment etc.
  7. Health & Safety Law - the guidelines.
  8. Purchasing equipment - do you lease, hire purchase or hire? The tax implications of varying methods and the cash flow benefits.
  9. Should you be preparing management accounts quarterly, half yearly etc. to assist with your cash flow, tax planning and future borrowing considerations?
Sole Trader Accounts
© Mike Ramsey Accountants. 2003
Sole Trader Accounts