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Practical business solutions

Business Services

We understand that running a business can be tricky. By using Practical Business Solutions, you can sleep at night knowing your business finances are being looked after. We really listen to what you are trying to achieve and match our services to make your goals a reality.

We ensure that you remain compliant with HMRC, whilst maximising your profit, ensuring that you take advantage of every tax break available to you. We make it our business to find ways to improve the profitability of your business, using the tools available to us. We take great pride in our attention to detail, ensuring no stone is left unturned. When you use Practical Business Solutions you can rest assured that your business is in safe hands.
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Business Services

Annual
Accounts

It is a legal requirement for Directors to produce accounts for Limited Companies, to show the financial health of the company.

Using the latest technology, we are able to monitor your company's financial records throughout the year so that when it comes to producing a set of accounts, we are well-prepared and there are no nasty surprises.

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Bookkeeping is an essential part of your business. Done well, it provides you with relevant information that you need to run your business profitably and effectively.

It is also the bedrock of our business, having been providing bookkeeping services to our clients since 2009. We take great care and attention to the details and ensure no stone is left unturned.

As a business owner, it is vital that you understand what is going on with the financial side of your business…

..but getting your books and records in order can often seem like a tedious job and you might not know where to start.

Practical Business Solutions are here to support you by taking away this burden and produce meaningful information for your business.

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Business Services

Bookkeeping

Business Services

VAT

Completing VAT returns can be a cause of frustration for many business owners, particularly if you work within industries where there are different rates, exemptions and reverse charges.

There are also ongoing changes, which can be difficult to keep on top of, especially if you are concentrating on the day to day runnings of your business. VAT can be incredibly complex and can be costly if completed incorrectly. That is why you should leave it to the experts. We can advise you when is the right time to register for VAT, or which scheme is the best for your business. When using our VAT services, you can rest assured that your VAT returns have been rigourously completed and will stand up to scrutiny.

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If you are a Director of a Limited company, you are required by law to complete annual corporation tax returns to calculate and communicate to HMRC how much tax you are required to pay based on the profits of the business.

You may also need to plan your taxes to avoid any nasty and unwanted surprises. We are here to help you with that. When completing your corporation tax returns, there is also an opportunity to take advantage of any tax reliefs that you may qualify for, such as Research and Development Tax Relief.

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Business Services

Corporation
Tax

Business Services

Payroll

Payroll can be a tricky task but is a crucial part of your business if you employ people. When you have many individuals relying on you, it is vital that you get it right and that you comply with all of the statutory obligations that are associated with pay and benefits.

Practical Busines Solutions takes the time to ensure every detail is looked after. We can prepare weekly, 4 weekly or monthly payslips, based on the information given to us. This typically includes details of salary, hours worked and any obligations around student loans, child support and so on.We will also calculate statutory deductions and handle real-time information (RTI) filing with HMRC on the date of pay, as we are required to do by law. Finally, we can also help you comply with the Pensions Regulator and the requirements involved with auto-enrolment of your employees.

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As part of being a Director of a Limited company you are required to fulfill certain legal obligations as legislated in the jurisdiction of incorporation. There are also severe consequences of not remaining compliant, be that financially or criminally. It is essential that you stay on top of any compliance requirements to ensure that you do not run the risk of getting into trouble.

We want you to be able to sleep at night knowing that you and your company have completed every task necessary to be compliant with the law. To that end, we can provide company secretarial services to you, which consist of things such as, maintaing company records, preparing and filing returns, issuing reminders of accounting deadlines, providing access to company records, and routine changes such as a change in director. Finally, we can also assist with the dissolution and liquidation of entitites that are dormant or are no longer required.

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Business Services

Company
Secretarial

Business Services

Outsourced
Finance
Department

Outsourcing your finance department can be a huge burden from your business' shoulders.

The reasons many businesses go down this route are that you might not have the budget to employ a full time member of staff, you appreciate the independent nature of having a third party run the finances, or the person who currently runs this department would be better to spend time on other areas of the business.
Whatever your reason for exploring this route, you can rest at ease, knowing your business is in safe hands and you can focus on the things that matter the most to you and your business. 

You will be kept up to date with any changes and we will be in regular communication with you.

As we have greater visibility of your business, we are in a better position to be able to advise and recommend improvements or other products and services which would benefit your business.
We will also calculate statutory deductions and handle real-time information (RTI) filing with HMRC on the date of pay, as we are required to do by law. Finally, we can also help you comply with the Pensions Regulator and the requirements involved with auto-enrolment of your employees.

Have a question about Outsourced Finance Departments?
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