We can help you make the most out of research and development claim:

• Calculate maximum tax credit available
• Prepare and include your R&D tax relief claim in your annual corporation tax return
• Safeguard the success of your claim by producing a detailed report for HMRC to explain how the claim was calculated and why the relief is due
• If you choose to write your own report, we can ensure that it complies with current legislation
• Make the process quick and painless, as the claims we prepare and submit are processed by HMRC. Payments are issued within a matter of weeks

If you are engaged in innovation – be it technology, engineering or manufacturing, you can gain maximum benefit from combining our R&D tax relief.

We can also help with advice on patent box relief and the preparation of your corporate tax return.

For all your bookkeeping needs, our team can help with the following:

• Processing and allocating transactions
• Picking the right bookkeeping system for your business
• Preparing supplier remittances and payments
• Producing real-time management reports, outstanding debtors, creditors, cash flow forecasts etc.
• Customer invoicing and credit control
• Bank and key balance sheet account reconciliation
• Active week-to-week cash flow management

Before we start processing information, we like to review our clients’ systems, processes and procedures to establish if there is any way of making the data-flow for bookkeeping more efficient. We’ll identify the processing of information that can be automated, giving you more time to spend on your business.

Working efficiently and effectively together (client and bookkeeper) can reduce bookkeeping time significantly, resulting in lower fees and more rapid delivery of management information for the business owner.

Need to get your accounting done?

We have a genuine interest in you and your business, taking time to understand your needs and tailoring our services to your requirements.

Qualified accountants help you with:

• Drawing up financials and submitting company tax returns
• Setting up your company structure
• Buying and selling shares
• SEIS and EIS applications
• Submitting company tax returns.
• Understanding tax rules
• Finding the best financing solutions
• Ensuring that you are paying yourself as tax efficiently as possible

What makes us different is that we love working alongside our clients to find out what level of service they need and what will be best suited for them. Once we have established that, we further align their processes and systems to come up with a strategy to enable us to deliver the services required within a budget that suits the client.

Management accounts help keep you on track with your business goals

Management accounts are a vital part of keeping track of how a business is performing, comparing actual performance with pre-set goals and targets.

They include forward-looking projections to aid business decisions. For these reports to be relevant, they need to be produced quickly and accurately.

We work with you to identify what is important to track in your business and then compile a set of accounts that help you measure business performance.

Typically, management accounting services include the following items:

• Profit and loss per period
• Actual results vs budgets (present goals)
• Cash flow forecasts
• Key performance indicators
• Reports that analyse significant changes
• Profitability of projects
• Product and marketing activities

Our management accounting reports are tailored to your specific needs and requirements, enabling you to make informed strategic decisions.

We can help you with your VAT requirements

Some of the ways we can help:

• Advise when you need to register for VAT
• Which VAT scheme to register for, e.g., flat rate VAT, standard VAT, cash or accounting etc.
• Registering your business for VAT
• Submitting VAT returns
• Deal with EC sales/purchases
• HMRC VAT audits and enquiries
• Advice on record keeping for VAT
• Advice on more complex areas of VAT e.g. exempt sales, sales outside VAT scope, partial exemption and VAT margin schemes

VAT is a complex area, but it is very important to get it right as you are more than likely to get an audit from HMRC about VAT than anything else.

We prepare payroll on a weekly, fortnightly or monthly basis – depending on your requirements.

We take care of the following:

• Processing and submitting RTI (real-time information) report to HMRC.
• Generating payslips for each payment period
• Submitting P11d reports (if required)
• Preparing and submitting year-end payroll returns

By using outsourced payroll services to handle your payroll, you can rest assured that all employees will be paid on time, all filing obligations will be met and all payroll queries will be resolved swiftly.

Whether you’re doing it yourself or with the help of a tax advisor, everyone needs tax planning.

There is nothing more satisfying than helping clients save 1000s of pounds in taxes by structuring their income more tax efficiently.

We all have to pay our taxes but there are numerous ways of saving tax and making sure you do not pay a penny more than is absolutely necessary within the legal framework .

We have extensive experience in this area and are continuously looking for ways to help our clients pay themselves more tax efficiently.

We can help with all the following:

• Business tax
• Personal tax
• Capital gains
• VAT planning
• Profit extraction strategies and options
• Business exit strategies
• Research and development claims
• Claiming expenses
• Claiming relevant capital allowances, e.g, annual investment allowance
• Creating the best corporate structure for your business, based on your personal circumstances.
• Claiming entrepreneur’s relief when you sell or close your business

We don’t take a one-size-fits-all approach, we take the time to make sure we understand your specific business strategy to determine the best profit extraction strategy for you.

Need to raise finance for your start-up business?

We work with start-ups and company owners looking to raise finance through an EIS or SEIS investment. We also provide structuring advice and support and help with obtaining advanced assurance from HMRC that the scheme will qualify under the strict rules and criteria. With our well-established network we can introduce you to  potential financiers and fundraisers. With years’ experience, we also provide advice on the various tax reliefs available.

We can help you and your start-up with:

• Advice on structuring your business
• Advice on qualifying business activities
• EIS / SEIS advance assurance and clearance requests
• Cash flow and profit forecasting
• Raising finance
• Company secretarial services, e.g. issuing share certificates

Having the support of a financial director can steer your business in the right direction

Our financial director services help you control your finances and plan your affairs for maximum efficiency.

Whether you’re starting out a new venture or expanding your existing operations, we can help you:

• Improve your profitability of your business
• Monitor performance using key performance indicators
• Set goals and create an action plan to get you where you want to be
• Remove the blocks that are stopping you from getting where you want to be
• Get the best systems in place to allow your business to grow
• Establish a marketing strategy
• Raise finance to allow you to invest in growth
• Improve the potential of your team members
• Measure and and provide results to help your business grow and improve
• Understand tax structures
• Submit R&D tax relief claims and get patent box relief

Are you on top of all your statutory obligations?

Complying with the requirements of the Companies Act can be an administrative burden. Our team can help you keep up to date with all your statutory obligations by:

• Performing the role of company secretary
• Preparing and filing the annual confirmation statement with Companies House
• Filing changes to company officials, addresses and shareholders with Companies House
• Preparing board minutes and passing resolutions
• Preparing share and dividend certificates
• Fulfilling the role of registered office
• Notifying Companies House of any changes in share capital
• Preparing the documentation to appoint and resign directors
• Informing you of all changes to company legislation and how these might affect you and your directors

Received an HMRC tax enquiry?

HMRC tax enquiries and investigations can be stressful and expensive to carry out.t is vital that you get expert advice to navigate the process.

Anyone can be subject to a tax enquiry or investigation. With continued confusion as to what constitutes acceptable tax planning and what constitutes tax avoidance or evasion, HMRC have further increased the volume of their investigations to collect as much tax as possible. As a taxpayer, you may be targeted with an enquiry into historical VAT, PAYE, corporation tax or personal tax.

We can help you with the following:

• Self-assessment enquiries
• VAT enquiries
• Corporation tax enquiries
• PAYE enquiries

We can also offer tax investigation insurance.

We cannot prevent you from being investigated by the taxman, but we can help to ensure that you get the best possible support and advice.

Need training in how to manage your finances?

We offer training in a variety of areas.

We like to develop and improve ourselves all the time and we like to share our knowledge and skills with our clients as we want our clients to be successful

So if we come across a course or we can identify areas where that our clients can learn from then we would look to organise a workshop training

• Software training: Xero and Beanbalance
• Settings business goals and forecast
• Outlining the vision and mission of your business
• Staff management workshops
• Events that will offer guidance on industry specific topics
• Workshops on IT related issues for SMEs
• Business development courses

To run a successful business, you need to stay on top of your numbers and have control over data and processes

We specialise in making accounting and bookkeeping easy and simple for our clients. The right software is the single biggest factor in achieving this. 

We predominantly use the following software applications for our clients:

Xero

We use Xero for all our SME clients or those with a more complex business structure. It is a powerful tool that can significantly reduce time to process large quantities of invoices and receipts. In addition it has over 500 plugins which can help you with:

• Producing real-time management accounts
• Showing profitability per cost centre, sales rep, sales platform etc.
• Raising invoices on the go from your mobile device
• Take photos of receipts to be instantly processed and uploaded into Xero, which is the easiest way to move to a paperless system
• Use your unique email address and ask your suppliers to email your invoices straight to your Xero account to cut out the need for data capturing

Beanbalance

Beanbalance is a free bookkeeping tool created for contractors and freelancers:

Ideal for clients with 1 to 3 directors, with a handful of employees and no more than 40 transactions per month.

System integrations

With the fast pace of technological development and the number of technologies launched daily, a new industry has been created in the accounting and bookkeeping world, and this is system integration.

Your accountant has now become a key partner in helping you decide which system is best for you. At EOACC we have specialised systems accountants who look at finding the process automations and system integrations to meet your accounting and bookkeeping requirements and fit into your budget.

More automation and fewer errors, mean less chances for mistakes or the manipulation of  information. In turn, it means quicker and more accurate reports and lower accounting fees!

If you need to start from scratch and find the right systems and processes for your business, we can assist you and provide the necessary training to get you set up and ready to hit the ground running. If you’re already set up but you’re having trouble getting everything to work as it should, we can also do a systems-analysis to clean up and tweak whatever is needed to make it all work again.