From our offices in Halesowen Blythe Phillips has been providing accountancy services for businesses and individuals in the Black Country and throughout the West Midlands for over 30 years and we pride ourselves in providing an efficient affordable service. Your accountant should be your greatest ally, at the front line with you in the fight for success and your first line of defence against the onslaught of legislation.
They should be someone that you can always feel comfortable to call and ask advice, knowing that they are on your side and want you to succeed. It's amazing how often people don't have that type of relationship. They see their accountant as being the person they see once a year who gives them a tax bill and fee invoice.
They should be someone that you can always feel comfortable to call and ask advice, knowing that they are on your side and want you to succeed. It's amazing how often people don't have that type of relationship. They see their accountant as being the person they see once a year who gives them a tax bill and fee invoice.
Services
Every trading entity has a legal requirement to keep adequate financial records whether for filing at Companies House or tax purposes and accounts preparation is our core business. We can prepare accurate, compliant financial statements from either your own accounting systems or the source paperwork.
The term 'self assessment' is proving to be one of the greatest misnomers of all time. Many taxpayers struggle to understand the complex tax returns and complete them correctly. In the first year of the regime alone, 775,000 taxpayers received 100 penalties for failing to submit their returns on time, and some 400,000 incurred further penalties because their returns were still outstanding six months later!
Processing your payroll can be both time consuming and an administrative burden, diverting your energy and resources from the profitable core activities of your business. The task is made all the more difficult by the growing complexity of taxation and employment legislation and the regime of penalties for non-compliance which seem to be ever expanding.
Value added tax is one of the most complicated 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 HM Revenue & Customs call for a professional eye to ensure that you do not fall foul of the regulations and more importantly pay more than you need to!
With the complexity of the UK tax system and more emphasis being put on taxpayers' individual responsibilities, everyone who is subject to self assessment needs professional advice and support if they are to minimise their tax liability and ensure they meet all the compliance requirements. The penalties for failing to do so can be onerous.
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Jeremy Emmett
May 23, 2020
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