Our Services
At Crimson Owl Accountants we offer a practical range of accountancy and tax services designed for sole traders, small limited companies and landlords. Every client is different, so we tailor what we do to fit your circumstances. Below is an overview of the work we do most often. If you need something that is not listed, just ask, as we can usually help or point you to someone who can.
Self Assessment Tax Returns
If you are self-employed, a landlord, a company director or have income that is not taxed at source, you will usually need to complete a self assessment tax return each year. We gather the information we need from you, work out your income and allowable expenses, prepare the return and calculate what you owe. We then go through everything with you before filing it online.
We also make sure you understand your payment dates, including any payments on account, so that you can budget ahead. If you have fallen behind with previous years, we can help you catch up and deal with the tax authorities on your behalf, calmly and without judgement.
Year-End Accounts for Sole Traders and Partnerships
Sole traders and partnerships need accurate accounts to support their tax returns, apply for finance and understand how the business is really performing. We prepare clear, sensible year-end accounts from your records, whether they are kept in software, on a spreadsheet or on paper. We will also point out anything that looks unusual and suggest simple ways to keep better records going forward.
Limited Company Accounts and Corporation Tax
Running a limited company brings extra responsibilities. We prepare your annual statutory accounts, file them with Companies House, prepare and submit your corporation tax return and keep your confirmation statement up to date. We can also act as your registered office if you would rather not have your home address on the public record.
Alongside the compliance work, we help directors understand how best to take money out of the company and what records they need to keep. We explain the figures in plain terms so you can make informed decisions rather than simply signing where we point.
Bookkeeping
Good bookkeeping is the foundation of everything else. We can take care of your bookkeeping monthly or quarterly, recording sales, purchases and bank transactions and reconciling your accounts so that you always have an up-to-date picture of where you stand. We work with most popular cloud accounting packages and can help you choose and set up one if you do not have one yet.
If you prefer to do your own books, we are happy to provide training and occasional reviews to make sure everything is being recorded correctly, saving you time and money at the year end.
VAT Returns
Whether you are already VAT registered or approaching the registration threshold, we can help. We advise on registration, help you understand which VAT scheme might suit your business, and prepare and submit your VAT returns using compatible software. We check your figures carefully before filing, keep an eye on deadlines and answer your questions as they come up.
Payroll and Pensions
From a single director to a small team of staff, we run payroll accurately and on time. We calculate wages and deductions, produce payslips, submit the required real time information to the tax authorities and handle workplace pension duties, including auto enrolment. We also deal with starters, leavers, statutory payments and year-end reporting, so you can be confident your team is paid correctly.
Making Tax Digital
Making Tax Digital is changing the way businesses and landlords keep records and report to the tax authorities. We help you understand whether and when the rules apply to you, choose suitable software, set it up properly and get used to submitting digital records. We can then handle the regular submissions for you or support you while you do them yourself.
Landlord Accounts
Whether you let a single flat or manage a growing portfolio, we prepare clear property accounts showing your rental income and allowable costs. We complete the property pages of your tax return, help you keep organised records for each property and explain how changes to your circumstances may affect your position.
Business Start-Up Advice
Thinking of going it alone? We offer friendly start-up sessions covering whether to trade as a sole trader or limited company, registering with the tax authorities, setting up a business bank account, basic record keeping and what deadlines to expect in your first year. You will leave with a clear plan and the confidence to get started on the right foot.
