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Bridgend - 01656 679800 Cardiff - 02920 731274

Audits and Accounts

There is no getting away with it - accounts are an everyday requirement, set by our government.

Your accounts provide you with a true picture of your business’s financials during the tax year. This helps us help you to:

  • Look at ways you could get a better return on your cash resources
  • Examine ways to reclaim tax that has been overpaid or to identify available allowances that have not been claimed
  • Identify weaknesses in your existing systems and provide constructive advice on what action to take

At Graham Paul, we care enough to provide you with peace of mind, whilst ensuring full compliance with statutory regulations. Your success and profitability is our main aim.

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Making The Right Financial Decisions For Your Business

“In this world nothing can be said to be certain, except death and taxes”

Benjamin Franklin
  • Year-end Accounts
  • Accounting Software Advice
  • Account Preparation
  • Management Accounts and Information
  • Bookkeeping

FAQ's

A: Depends on what’s involved; we’ll do our best to meet any statutory deadlines that are looming.
A: Don’t know. Your guess is as good as ours, HMRC will hold onto it as long as they can.
A: About 7 years. Keep them in the loft with the date on and burn a box every year.
A: This is very circumstantial and our dedicated team is here to advise on each individual case. However, you can be sure that if you’ve have some hard earned cash, HMRC will want their cut, one way or another!
A: Unfortunately this is not possible. Salary must be reported to HMRC through an appropriate PAYE scheme to comply with RTI (real-time information) legislation. Contact our team today to discuss how you can extract the most tax efficient remuneration.
A: With upcoming changes in how you must report to HMRC we are looking to use digital means of communication with our clients. So join the revolution and just go digital!
A: There are various advantages and disadvantages of trading as either of the above. Some things to consider could be the following:
  • - The type of industry you will be trading in.
  • - Whether you have any other sources of income outside of the trade.
  • - How may it affect your market position? For example, some of your customers or suppliers may prefer to trade or do business with a limited company as opposed to a sole trader, or vice versa.
These are just some of the items to consider. Please get in touch with our team today who can guide you through what’s best for you in your situation.
A: No, your tax liability is based on the profits that the business earns. Your drawings are an anticipation of the profits of the business of which you can draw against. If you leave any monies in the business you will pay tax on it.

Require more information?

Contact us on 01656 679800 or use the online contact form.

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