Services

Accounting Services

Annual Accounts

Naqtax’s team includes experienced and qualified accountants who have spent time in a wide range of industries and working environments. We can:

• Prepare accounts for self-employed and submission of Self-assessment tax return.
• Prepare accounts for Partnership businesses and submissions of Partnership return.
• Prepare accounts for Limited Liability partnerships.
• Produce financial statements for Limited companies.
• Prepared accounts for Charities and non-profit organizations and submission of annual return at charity commission.

We can do more for your bussiness such as:

• We prepared accounts to agreed timescale and deadlines
• By analyzing your business activity we can help you identify areas which will be tax efficient
  for your business.
• Prepare quarterly management accounts and reports for directors’ and management which help them to measure performance and identify areas which need to be improved to meet goals

We can do more for your business such as:

• We prepared accounts to agreed timescale and deadlines
• By analyzing your business activity we can help you identify areas which will be tax efficient
  for your business.
• Prepare quarterly management accounts and reports for directors’ and management which helps them to measure performance and identify areas which need to be improved to meet goals

Annual returns/confirmation statements

We provide you timely reminders for filing of confirmations statements so you can inform us about changes in directors, shareholders or shareholding percentage and change of registered office address.

Bookkeeping and online software

Bookkeeping

We can handle all your bookkeeping matters so you can focus on your core business activities and do your planning part to set business targets and goals.

This is very easy process, all you have to do is:

• Send us your sales, purchases and expense invoices along with bank statements etc.
• We do all the processing for bookkeeping
• This will help us to easily prepare your Management Accounts, VAT returns and Annual accounts
• We can quarterly update you on provisions for your tax liabilities so you can manage your finances to pay taxes on time.

Online Accounting Software

In modern business environment many businesses are now using online accounting software’s for bookkeeping which is very helpful for them as well as for their accountants. The business owners stay connected to their data and with their accountants. This is cost effective and easy to use, as these are cloud base so there is no need to install and run the application over a desktop computer. Owners can login any time to check their financial positions, bank reconciliation, debtors and creditors which is helpful for their decision making.

Benefits of Online accounting software for the businesses:

• Automated daily bank feeds:
• Available anytime, from anywhere:
• Invoicing: Invoicing is not only customized to your business, it is fast and simple. At just a few clicks you can create an invoice for a client and email it to them.
• No installation or IT maintenance:
• Dashboard gives a clear financial overview

VAT Registration

We can assist you for VAT registration and advise you for suitable VAT scheme and bookkeeping methods for timely submission of VAT returns Your responsibilities: VAT responsibilities starts from the effective date of registration.

Bussiness must:

• charge the right amount of VAT
• pay any VAT due to HMRC
• submit VAT Returns
• keep VAT records

Taxation

Personal tax

We provide tax services to both business owners and individuals. Our services cover:

• Overseas income
• All aspects of Self Assessment
• UK Property rental income
• Employee share scheme
• Capital Gain Tax
• Computation of tax liability and,
• Filing of tax return

Our fee for personal tax return starts from £150+VAT. If you have any property income, capital gains or other complex tax affairs then we may need to charge more. if you want to discuss your circumstances, please call us on +447341444624

Business Tax

While preparing annual accounts we will advise you about your tax position and liabilities well in time so you can plan on it. All businesses have to pay taxes but within legal framework we will advise you tax efficient strategies for business.

We can help with tax planning in relation to:

• Capital allowances
• Capital Gains
• Brought forward losses
• Tax efficient Employee remunerations

Payroll

Payroll services

We can provide services to your business as per your requirements which includes:

• Generating employee payslips
• Monthly Employer payment summaries
• Inform you about PAYE liability
• Dealing with leavers and starters
• Submission of Real Time Information to HMRC
• Assistance with automated payment setup to your employees
• Generating Subcontractor’s payslips
• Submission of CIS returns to HMRC

We will ensure correct calculations for

• Statutory Sick pay
• Maternity pay
• Student loan deductions
• Pension contributions

At the end of tax year we will send you

• P60s
• P11D and P9D benefit and expenses returns.

Automatic Enrolment

Under the Pensions Act 2008, every employer in the UK must put certain staff into a pension scheme and contribute towards it. This is called ‘automatic enrolment’. If you employ at least one person you are an employer and you have certain legal duties.

At your staging date you are required to complete following steps for automatic enrolment to fulfill your duties:

• Choose a pension scheme
• Complete assessment of your employee to find out who are eligible employees for automatic enrolment
• Automatically enroll eligible employee and inform them. Start deductions for contribution through
  payroll unless they

want to opted out.

• Offer pension scheme to Entitled and Non eligible employees. Complete declaration of compliance.

Naqtax can help you to meet your duties.

• We will help you to choose a pension scheme
• We will complete assessment of your employees and will inform you who are eligible employees for auto enrolment.
• Enroll eligible employees and will send you welcome letter so you can send them to employees. If anyone wants to opt
• out, we will advise you the procedure for opting out.
• Send letter to you so you can offer scheme entitled and non-eligible employees if they want to voluntary opt in.
• Once all done, we will submit declaration of compliance to pension regulator.

Other Services

Compnay formation

• Company Formation
• VAT Registeration
• PAYE registeration
• Admin support for businesses