OUR SERVICES

ACCOUNTS

At Mike Griffiths & Partners, we give you time to run your business. We can help both you and your team by taking care of all the elements of your bookkeeping and accounting needs.
Talk to our clients and they will tell you that they see us as an integral part of their business. First, we listen to your needs and gain a full understanding of your business. Then, we structure the components of each of the services you need in an integrated and transparent way.
Every business needs to prepare accounts, whether weekly, four weekly, monthly or annually to suit their own periodic information needs. We prepare accounts for our clients and, if asked, their bankers and HMRC. If you're a company, we need to make sure that your annual accounts comply both with the Companies Acts and with current accounting standards.
Our integrated bookkeeping and accounting services include:

• Conducting your Bookkeeping
• Preparing your Annual Accounts
• Maintaining your VAT records
• Preparing your Management Accounts
• Taking on short-term projects to relieve your team of administrative overload.

AUDITING

Many organisations, mainly companies, require an audit or an independent review of their accounts by law. Whilst it is an essential requirement for these businesses, an audit has been regarded historically as an evil neccessity. Mike Griffiths & Partners clients clearly see the audit in a more positive light. That is because apart from providing the assurance that clients and specified third parties seek from an audit, we always strive to add value to our clients.

Our cost effective audit approach is focused and geared to provide information and recommendations on the business and its environment thus giving directors and management a benefit in addition to fulfilling statutory requirements.

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BUSINESS START-UP
As a new business you are bombarded with advice from all sides, often of mixed quality. Consequently, finding reliable advice is a real breath of fresh air. Most people who start up in business do so because they have the combination of a good business proposition and the enterprise and commitment to see it through. Not because they are experts in the legal and financial aspects of running a business.
The last thing you want is to feel constrained by reams of daunting paperwork and cumbersome red tape. What you do need is the support infrastructure of a highly experienced team. That is where we fit in. Bring us your business ideas. We will act as a sounding board and help you evaluate them in a constructive and realistic manner. We think you will find our approach refreshing.
Our integrated business start-up services include:

• Deciding on the most suitable structure for your business - sole trader, partnership, or limited company
• Preparing a business plan, cash flow projections, budgets, and trading forecasts
• Assessing your finance requirements, advising on the best sources of finance, and drawing up the necessary proposals
• Completing any registration procedures with Companies House and HMRC
• Dealing with company secretarial issues
• Setting up a recording system for your internal use and for complying with statutory requirements

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COMPANY AND PARTNERSHIP FORMATIONS
Business is about getting the optimum structure for operational success. We will help and advise you on company formations, partnership arrangements and Limited Liability Partnerships. You will benefit from our specialist advice on management structures, banking and finance, shareholdings and those all-important shareholders' agreements, as well as accounting and control procedures.
Working as an integral part of your operations, we can also give you advice on your obligations under the Companies Acts. We will arrange the formation of new companies and will deal with the entire combination of VAT, PAYE and Corporation Tax issues at inception. Plus, assist with your registrations with regulatory bodies where necessary.
We will handle the routine company secretarial compliance matters and provide the company's Registered Office. We actually handle everything so you dont have to.
Our integrated company and partnership formations services include:

• Providing specialist advice on company formations
• Implementing and documenting the formation
• Advising on the appropriate company structure
• Documenting shareholders agreements
• Establishing good banking and finance relationships
• Handling VAT, PAYE and Corporation Tax

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PAYROLL BUREAU SERVICES
However complex it may seem, we make payroll seem straightforward. Fast, efficient and cost effective, we work for businesses of all sizes: ranging from sole traders with only one or two employees, to large companies with many staff and a substantial payroll function.
Our professional bureau service forms the nucleus of our clients payroll solution
Our integrated payroll bureau services include:

• Removing administrative burdens and reducing overheads
• Enhancing speed and efficiency
• Driving cost-conscious, affordable results
• Accommodating sudden change
• Providing assistance via telephone or on-line
• Qualifying for Government financial incentives

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PAYROLL SERVICE COMPONENTS

• Payroll intervals to suit your business (weekly, monthly, variable) including overtime and bonus/commission calculations
• Full payroll listing, meeting legal obligations
• Link with Bank Automated Credit Service (BACS)
• Comprehensive employee record cards
• Statutory form maintenance,end of year tax returns (P60s), benefits in kind (P11Ds), and others
• Informative reports and well explained analyses coupled with prompt service at all times

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PROFIT & CASHFLOW FORECASTING
Regular profit and cash flow forecasts are vital to business owners and managers. They provide critical information as to the life of the business, not only for the owners and directors but also for potential providers of finance.

• As well as being invaluable planning tools, profit and cash flow forecasts often prove essential for start-ups to obtain business funding - and for established companies to secure additional funding for growth.
• Our integrated profit and cash flow forecasting services include:
• Preparing regular profit and cash flow forecasts for discussion with management
• Assisting and encouraging companies to prepare reliable financial information
• Creating 'what if' models to assess the consequences of specific decisions
• Integrating Profit and Cash Flow forecasting into the regular planning process.
• Comparing results and investigating material variances to budget.

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PERSONAL TAX PLANNING
With the tax regime becoming more complex and more emphasis being put on taxpayers' individual responsibilities, everyone who is subject to taxation needs professional advice and support. At Mike Griffiths & Partners we hope you will find our approach refreshing - we optimise your tax position and ensure you meet all the compliance requirements.
Every pound of income tax you save means more income at your disposal, every well planned disposal of assets means minimal loss to capital gains, and every inheritance tax saving means more wealth for your beneficiaries. Let us take a fresh look at your personal tax issues and turn them into opportunities.
Our integrated tax planning services include:

• Providing year round tax advice
• Advising on Income tax
• Managing Capital Gains tax requirements
• Planning Inheritance tax

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CORPORATE TAX PLANNING
You may find tax planning a daunting prospect. We help you minimise your corporate tax exposure. Resulting in an even healthier financial position and yielding potentially significant improvements in your bottom line.
Corporation tax clearly represents a substantial part of your trading costs. Also, increased reporting obligations, robust investigation policies and harsher penalties for non-compliance mean that an undue element of your time and resources is presently taken up collecting revenue for the Government. We liberate your business from the administrative burden of complying with tax legislation and lead discussions with the tax authorities, allowing you to focus on building a strong, healthy business.
Our corporate tax planning services include:

• Determining the most tax effective structure for your business
• Taking full advantage of tax opportunities and reliefs
• Achieving the optimum capital or revenue tax treatment
• Reducing tax on disposals and maximising relief on acquisitions
• Making the most of tax opportunities specific to your industry
• Meeting the rigorous demands of compliance including corporation tax self assessment

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SELF ASSESMENT
The term 'self assessment' is proving to be one of the great misnomers of all time. Many taxpayers struggle to understand the complex tax returns and complete them correctly. The constant stream of changes to tax legislation means not only that the returns are becoming ever more difficult to understand but also that taxpayers risk incurring more penalties through failing to complete their returns on time or correctly.
We can save you a lot of time, worry, and money by handling your self assessment for you. We will do all the necessary computations, complete your return and offer jargon-free advice on how you might minimise your tax liability.
Our integrated self assessment services include:

• Assessing your tax situation
• Analysing your allowances
• Preparing accurate calculations
• Completing your returns
• Liaising with the HMRC
• Appraising you of legislative changes

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THE CONSTRUCTION INDUSTRY
Whether you are a property developer, contractor, sub contractor or simply building your own dream home, you are faced with a mass of legislative elements and potential pitfalls. The new rules, which came into force with effect from April 2007, will have impacted upon the majority of businesses in this sector. We offer an extensive range of services.
Over the years our clients have benefited from our ability to offer audit, accounting, taxation and business advice tailored specifically for construction and related businesses. Our aim is to remove the burden of compliance so you can concentrate your efforts on building a successful livelihood.
Our integrated construction industry services include:

• Advising on business structure
• Planning tax and VAT
• Advising on CIS scheme.
• Bookkeeping & accounts.
• Appraising cash flows & projects
• Managing payroll

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H. M. REVENUE & CUSTOMS ENQUIRIES
One of the major departments of H M Revenue & Customs is known as The Compliance Unit. They ensure that taxpayers, individuals and corporate entities, account to the Government for the correct amount of their respective liabilities to taxation. Their real function is to seek out and assess taxpayers who have underpaid their liabilities. The reasons for underpayment are numerous from honest mistake to intentional fraud. The officers in the specialist units are skilled in carrying out risk assessment of tax payers returns. The penalties that can be imposed are severe and in the more serious cases a prosecution could ensue. The cost of the enquiry can be significant not just in terms of tax, interest and penalties but in the time and effort required from the tax payer.
There is no need to feel exposed - come to Mike Griffiths & Partners. We will ensure your views are aired professionally.

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VAT PLANNING & COMPLIANCE
Value added tax is one of the most complex and stifling tax regimes imposed on business - so complex that many businesses inadvertently overpay or underpay VAT.
The ever widening scope of VAT, the constant stream of detailed changes to the regulations, and the ever growing demands of Customs and Excise call for a trained professional eye to ensure that you do not fall foul of the regulations and do not pay the Exchequer more than you need to.
Our integrated VAT planning and compliance services include:

• Assisting with VAT registration
• Advising on VAT planning and administration
• Using the most appropriate scheme
• Reconciling VAT and control measures
• Helping with the completion of VAT returns
• Planning to minimise future problems with Customs and Excise including dispute resolution and representing you at VAT tribunals

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TAX ENQUIRY INSURANCE

Each year HM Revenue & Customs increase their enquiry efforts to the affect that every 30 seconds someone is receiving a Revenue enquiry.
It is now clear that you will have an enquiry, the question is simply one of when not if.
Mike Griffiths & Partners Tax Enquiry Insurance can be put in place to cover you for any unforeseen expenditure arising from a Tax Enquiry.
The policy also comes with the added option of a business support helpline which provides expert advice and support in the areas of employment and personnel, Health & Safety and commercial legal issues.
We believe that it is our duty to ensure that you are not exposed, and given that, in our experience, an enquiry can last 12 months plus, many of our clients have been grateful for this cover.

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