At Prescient Accounting, we know how much effort and hard work goes into running small businesses, whether as a partnership or as an individual sole trader.
We also understand how complex, frustrating and time-consuming your tax and accounting duties can be, taking your focus away from your business responsibilities. Our dedicated team of professional accountants is at hand to smooth the way, taking on every aspect of your accounting, tax and pension obligations, leaving you to devote your attention and energy to what matters most: running a successful, thriving business.
Let us know what you need from your accountants, we’re happy to help.
We believe that the role of the accountant is much more than dealing with pure compliance. That’s why we’re offering a free video or telephone call with one of our team of chartered accountants, to give you straightforward and open dialogue about your tax and accounting affairs.
We provide all of the core services you'd expect from accounting professionals, along with a few extras. This is what sets us apart in the accounting profession and has earned Prescient Accounting a solid and healthy reputation among our many valued clients.
Some of the services on offer include:
Our general accounting service handles your daily figures to keep things ticking over. We provide software that's straightforward enough to be used without intensive training - simply switch it on, and you're ready to go.
Of course, we will be there to support and advise you, should you need assistance.
While it's not always necessary to audit your accounts (nor is it a legal requirement in many cases), you may need our services at some point.
We can provide a Certified Internal Auditor to scrutinise and meticulously assess your internal controls, accounting systems, and risk areas. We create a comprehensive audit plan, outlining procedures, timelines, and communication protocols, keeping you informed each step of the way.
Ultimately, we deliver a clear and concise audit report, expressing an independent opinion on the fairness and accuracy of your financial statements. This report, backed by exhaustive evidence and sound professional judgement, provides invaluable assurance to stakeholders and regulators.
When you run your own business, it's your responsibility to figure out everything, including tax matters. This can quickly become a nightmare, and you need to keep a firm handle on things or they can easily spiral out of control, leaving you facing
Negotiating the complexities of VAT returns is one of the biggest headaches facing businesses of all sizes. We take on all of your VAT responsibilities, from registration to completing and submitting your returns. Working out VAT on certain products and services can be particularly burdensome, but our experts will lift this from your shoulders.
This relieves you of the burden and eliminates the possibility of errors or penalties.
This is possibly the biggest headache for sole traders “self assessments” (or freelancers) and business owners after VAT.
Claiming all your allowable deductions and reliefs can be tricky, but our accountants know the ins and outs of the tax system. They'll identify applicable deductions for business expenses, charitable donations, pension contributions, and more, ensuring you pay the least amount of tax legally possible.
If you're looking for more info on sole traders check out our article “sole trader advantages and disadvantages”.
With our expert advice, you can maximise your tax savings. We will guide you in the art of tax planning/personal financial planning to make the most of your personal and business finances, both for the present and for a secure future.
Whether it's in relation to capital allowances or allowable expenses, we believe in supporting our clients with practical and valuable advice.
In the UK, every limited company registered with Companies House must file a corporation tax return every year, whether they made a profit or not.
*Foreign companies trading in the UK and some unincorporated clubs and societies also need to file a corporation tax return based on their taxable profits.
We can help limited companies and corporations (or other organisations) of all sizes to register for CT with HMRC. We will advise you on all matters pertaining to CT following this, including completion of the Company Tax Return (CT600) form and to pay the correct amount (if payment is required).
It's essential to stay within the deadlines to avoid financial penalties, and these are as follows:
Your Prescient Accounting team member will assist you in all of these areas, offering tips and timely advice to ensure that everything goes to plan.
They will:
Provide accounting software to make filing your return easier.
While so many new companies in the accounting profession offer faceless, impersonal online bookkeeping services, we believe that most of our clients prefer to work with a real person. That's why we provide you with a dedicated bookkeeper who'll be your go-to contact when you need support and advice.
Accurate and efficient bookkeeping is crucial, giving you a clear picture of your business finances, cashflow and profitability. And with Prescient Accounting, this is guaranteed.
Dealing with payroll services and pensions matters is not for the fainthearted, especially for medium-sized enterprises or larger businesses.
Our comprehensive payroll and pensions service takes the sting out of this process, ensuring that your staff are paid correctly and on time. We also keep abreast of all the latest changes in rules and regulations to ensure that you remain compliant.
Our certified management accountants work tirelessly to provide meaningful data relating to your business finances.
Rather than endless sheets of numbers and confusing data, we create useful information that can be used in the following ways:
Data is used to create budgets and forecasts that help businesses track their progress and make informed decisions about resource allocation. For example, businesses might use the accounting data to determine how much money to spend on marketing or research and development.
It is used to track the performance of a business against its budget and other goals. This data can be used to identify areas where the business is doing well and areas where it needs to improve.
It is used to track the costs of doing business. This data can be used to identify areas where costs can be reduced.
It is used to support a wide range of decisions, from pricing and product mix to investment and expansion.
Our advice is clear, unambiguous and direct, keeping you informed of any changes you need to be aware of.
This can relate to tax law, pensions, HMRC guidance, investments and savings, employee share schemes, and so much more.
Prescient Accounting goes that extra mile - it's not just about the accounts!
See more on “buying an electric car through a limited company”.
See more on “private limited company advantages and disadvantages”.
It's a shocking fact that literally anyone can set themselves up as an accounting firm; the term is not regulated, although there are professional bodies that generally oversee the industry. However, there are thousands of accountants to choose from, and selecting the right one could mean the difference between failure and success.
Prescient Accounting invests heavily in the professional development of each one of our accountants, wherever they may be along their path in the accountancy profession. All of our team members hold at least one of the following qualifications:
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Certified Public Accountants are held in high regard throughout the profession, and we uphold the highest standards of the industry in all our dealings. Transparency, integrity and communication are the cornerstones of our operation.
Our modern approach and proactive methods have made us popular with forward-thinking business owners and entrepreneurs who need a vibrant, successful finance and accounting specialist. We are more than accountants; we become trusted finance partners, forming a strong bond of mutual trust, appreciation and professional support.
As qualified chartered accountants, we offer the full range of accountancy services, but we strive to go beyond this and actively contribute to the continued success of all our clients' businesses.
Contact us via our website or telephone for a free initial consultation and secure your financial future with Prescient Accounting.
Accountants provide a range of services to small businesses, including bookkeeping, tax preparation and advice, financial forecasting, and payroll management. These services help businesses manage their finances effectively.
An accountant can help you save money on taxes by identifying tax deductions and credits you're eligible for, advising on tax-efficient strategies, and ensuring you comply with tax laws to avoid penalties.
The main difference between an accountant and a chartered accountant is that chartered accountants have completed additional training and exams, and are members of a professional body, ensuring a higher standard of expertise.
The frequency of meetings with your accountant should be based on your business needs, typically at least quarterly to review financial statements, discuss tax planning, and address any concerns.
For tax purposes, you should provide your accountant with all relevant financial records, including income statements, expense receipts, payroll records, and previous tax returns, to ensure accurate tax filing.
An accountant can assist with financial planning by analysing your business's financial health, forecasting future revenues and expenses, and advising on budgeting, investment strategies, and financial growth opportunities.
We believe that the role of the accountant is much more than dealing with pure compliance. That’s why we’re offering a free video or telephone call with one of our team of chartered accountants, to give you straightforward and open dialogue about your tax and accounting affairs.
We are chartered accountants and tax advisers, working with individuals and small and medium-sized businesses. We're a full-service firm, helping people and businesses with all of their tax and accounting needs. About us
