MW Accounting Services

Accounting Services

Accounting Services for businesses in Bracknell

MW Accounting Services provides a rage of reliable accounting services to small businesses, which include:

Bookkeeping services

Bookkeeping is a requirement for every business. We, MW Accounting Services, provide reliable bookkeeping services to small businesses in Bracknell.. Our team is both friendly and experienced, who can help you with either manual or computerised bookkeeping and all your other bookkeeping needs. Further, our services are also flexible so that they can suit your needs and budgets. So talk to us today to see how we can help.

bookkeeping services

Accounts services

Unlike the self-employed, a company is required to file its accounts annually, or face penalties or being struck off. With our experience and reliability, you can rest assured that your accounts are in the safe hands as well as being well looked after. Although self-employed individuals do not have to prepare and file the accounts, it will be helpful with their tax return if they have accounts prepared.

Capital Gains Tax (CGT)

Capital Gains Tax is tax paid on a profit from disposing of an asset. Not only does disposing of mean sale but also swap, gift, transfer and compensation receipt. However, some assets such as cars or shares in ISA are always exempt from CGT. This means there is no capital gains tax to pay even if you make profits from disposing of these assets. We can help you calculate the CGT due.

capital gains tax

Tax returns

After starting a business, a sole trader and partnership must both register for a self assessment tax return with HMRC and file their tax return by the deadline. If HMRC does not receive the tax return by the deadline, they will then issue an automatic fine of £100. In addition, a dominated partner must also file a partnership tax return together with his own tax return. 

Similarly, a limited company will also file its tax return. However, it is called corporation tax return. If HMRC does not receive a corporation tax return by the due date, then a penalty of £100 will result. Talk to us to day if you need to file your tax return.

VAT return

VAT returns

VAT registration can either be compulsory or voluntary. Although the registration is mandatory for businesses with taxable supplies of over £85,000 (current threshold), they can register for VAT voluntarily too even though their taxable turnover is less than £85,000. In addition to VAT registration, VAT returns must also be filed which is usually quarterly. Similarly, VAT de-registration can also either be compulsory or voluntary. So you may cancel your VAT registration when your business no longer needs it.

Payroll & Pensions

If you employ staff, then, as an employer, you must register for payroll with HMRC. Moreover, you also need payroll registration even if you employ just yourself as the only director of your company. Besides, you must file your payroll using a software with Real Time Information (RTI). Unless you report your payroll information to HMRC, and on time, you may receive a penalty, which depend on the number of employees you have.

As well as payroll, all UK employers, who employ at least one person, must put certain employees into a workplace pension scheme too.

payroll & pensions