Business people shaking hands, finishing up a meeting

RELIABLE BUSINESS TAX ADVICE

Here at S M O & Co, we offer personalised business services to companies throughout Bromley and its surroundings. Contact us today to discuss your requirements with our team, and we will be happy to help.

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OUR RANGE OF BUSINESS SERVICES

Payroll book

PAYROLL SERVICES

Payroll is complicated and must be done in compliance with the PAYE Regulations and on time and you as the employer are responsible for the mistakes. The services that we provide include:


Payroll processing


We provide a timely, accurate and flexible payroll service to suit your needs. We will relieve you of the pressure of calculating PAYE, overtime pay, holiday pay, sick pay, maternity pay and all the other variables that arise. Alternatively, we can also provide PAYE training if you prefer to do it yourself and a helpline in case of any difficulty.



Related tax planning

Beyond the payroll compliance services, we offer comprehensive advice on all employment tax issues including



  • Tax-efficient remuneration strategies

  • Planning for retirement

  • Termination payments

  • Inducement payments

  • Company car and van strategies

  • Benefits planning

Auto-enrolment reporting

Auto-enrolment is the current hot topic for all employers. It is the term for automatically enrolling employees into workplace pension schemes and it will affect all businesses. We can help your business prepare for auto-enrolment compliance and provide help and guidance throughout the whole process; from helping you assess the cost for your company and setting up or reviewing your pension arrangements, to managing your payroll function so that you are fully auto-enrolment compliant.

Subcontractors’ returns

If you’re in the construction industry, you’ll know that dealing with the construction industry tax deduction scheme is one of the most tedious aspects of the UK tax regime. We’re pleased to say that help is at hand. We’ve been looking after clients in the construction industry for years, and both our tax and payroll departments are experienced in preparing and submitting subcontractors’ returns.

We’ll ensure your returns are up to date and keep your affairs in order. We can also represent you in the event of an enquiry by Revenue and Customs.

UK VAT Form with black fountain pen

VAT COMPLIANCE

VAT is a constantly changing tax. In today’s business environment, it is essential to take expert advice. Looking after our clients’ VAT affairs is fundamental to the overall service we provide. With this in mind, we offer a full and comprehensive VAT consultancy and planning service.


 

The services include:

  • Standard UK VAT registrations

  • VAT Health Check

  • VAT planning

  • VAT refunds for overseas businesses in the UK

  • VAT refunds for UK businesses overseas


 

VAT registration
 

If you wish to register for VAT, a VAT registration form needs to be completed. The process of registering can be cumbersome and complex. We can provide all the necessary assistance to complete this form efficiently and accurately. We can also support you regarding supporting documentation, such as copy invoices and contracts, that you may need to submit to Customs with your registration form.

 

VAT health check


We can undertake a comprehensive VAT health check, which looks at all of your company’s VAT accounting and reporting. The health check is accompanied by a full report with our recommendations.

 

VAT planning

As with any tax, planning in advance can help to reduce the amount of VAT that you pay. We have extensive experience in VAT Planning and ensure that any tax minimisation opportunities are presented to you.

 

VAT refunds

We can assist you to assess any VAT refunds and can compile and submit these claims to Customs.

  • If your business is UK based and you have overpaid UK VAT

  • If your business is based outside of the UK and you are not registered for VAT in the UK. In this case, your business may be entitled to a VAT refund on expenses incurred in the UK such as hotels, meals (not entertaining) and car hire.

  • If you are a UK business and you travel to another European Union member country on business. In this case, you may be entitled to recover VAT on some of your expenditures. Each European country has different rules about which expenses are recoverable and the rules can be complex.

Tax Income Reports

BUSINESS TAXES

Whether you are in business as a sole trader, partnership, LLP, or limited company, knowing how much tax you have to pay and when will be vital to you and knowing that you are not paying more tax than you should be, will be just as important.

We have years of experience looking after the tax affairs of business owners and give advice on a wide range of business tax matters, including:

  • Employment tax advice

  • Preparation of business tax computations

  • Tax planning

  • Business succession planning

  • Revenue & Customs enquiries and investigations

  • VAT

Sole trader

  •  Self-Employed Tax

If you are in business as a sole trader, knowing how much tax you have to pay, and when, is likely to be important to you. And knowing that you’re not paying too much is likely to be just as important. We have years of experience looking after the tax affairs of unincorporated business owners. We also give advice on a wide range of business tax matters including:

  • Preparation of business income tax computations

  • Income tax planning

  • Incorporating sole traders as limited companies

  • Business succession planning

  • Revenue & Customs enquiries and investigations

  • Sales of businesses and business assets

Class 2 and Class 4 National Insurance Contributions

Are you satisfied that the level of National Insurance you are paying is correct?

There is a possibility that your National Insurance Contribution will exceed the Maximum allowed, more so if you are both employed and self-employed. If so, we will check your liability and assist with refund claims or claims for exemptions where applicable.

Partnership tax

Partnership tax matters can be particularly complex. We have the expertise to lead the way. We also give advice on a wide range of partnership tax matters including:

·       Preparation of partnership and partners’ tax computations and returns

·       Partnership tax planning

·       Partnership succession planning

·       Revenue & Customs enquiries and investigations

·       Sales of businesses and business assets

·       Limited Liability Partnerships (LLP)


Class 2 and Class 4 National Insurance Contributions

Companies

Looking after companies’ tax affairs is fundamental to the overall business service we provide. We give advice on a wide range of business tax matters including:


  •  Employment Tax

  •  Corporation Tax

Income Tax Earnings & Pensions Act 2003 (ITEPA 2003)

Any business employing staff must comply with the United Kingdom Employment Legislations to avoid unnecessary enquiries and penalties.


Fortunately, help is at hand. S M O & CO have years of experience in advising employers and their directors on the following:


  • Payroll Regulations

  • Non-cash benefits in kind

  • Pensions contributions

  • Share awards /share options

  • Income tax and National Insurance Contributions

Corporation tax:

A company pays corporation tax on its trading and other taxable profits. We give advice on a wide range of business tax matters including:


  •   Director’s extraction of value from the company

  •  Preparation of corporation tax computations and returns

  •  Corporation tax planning

  •  Corporate group structures

  •  Business succession planning

  •   Revenue & Customs enquiries and investigations

  •   Sales of businesses and business assets 

Open Space Studio

COMPANY SECRETARIAL SERVICES

Keeping up with Companies House requirements can be complicated and time-consuming for Company Secretaries and Directors. That is why we offer the following services to ease the burden:


  • Filing Confirmation Statements and Accounts

  • Maintenance of statutory books

  • Registered office facility

  • Company searches

  • Comprehensive form filling and filing service

Business Discussion

BUSINESS ADVISORY SERVICES

Successful acquisitions and mergers result from a thorough approach that is consistent with the company’s strategy.


S M O & Co can help you with:

  • Develop acquisition strategy

  • Define selection criteria

  • Identify and approach targets

  • Investigate targets and assess the value

  • Negotiate company purchases

  • Conduct due diligence

  • Complete the deal and integrate the new business

We can also help you with a full or part-disposal of your business. Once you have decided to explore either of these possibilities, we can help you to:

  • Identify and approach potential buyers or investors

  • Advice on tax-efficient disposal routes

  • Fine-tune your sales memorandum for maximum effect

  • Liaise with your legal tea

  • Negotiate closure terms

Portrait of a mature couple consulting a real estate agent at office. Image shot 2011. Exa

COMPANIES

Looking after companies’ tax affairs is fundamental to the overall business service we provide. We give advice on a wide range of business tax matters including:

 

  •     Employment Tax

  •      Corporation Tax

 

Income Tax Earnings & Pensions Act 2003 (ITEPA 2003)

Any business employing staff must comply with the United Kingdom Employment TAX Legislations to avoid unnecessary enquiries and penalties.

 

NEED TO LEARN HOW WE CAN HELP YOUR BUSINESS? EMAIL NOW

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