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What We Do

Our Expert Accountancy Services

We make your finance function less demanding by streamlining your processes. We do all the heavy lifting, and we make sure your accounts are clear, compliant and up to date.

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Compliance

At Venn Accounts, we can efficiently manage your annual accounts and corporation tax filing.

 

  • FRS 105 vs. FRS 102A:

    • FRS 105 is designed for micro-entities and offers simplified financial reporting, excluding accruals, deferred tax, and revaluation models, making it suitable for businesses with minimal reporting requirements.
    • FRS 102 Section 1A is tailored for small entities, providing a balance between simplified reporting and the need for more detailed disclosures compared to FRS 105, such as cash flow statements and detailed notes.

  • Accuracy and Assurance:

    • All work is double-checked by a second accountant to ensure precision and compliance.
    • Comprehensive working papers back every piece of work, providing transparency and a clear audit trail for your financial records.

Here at Venn Accounts, we can efficiently manage full payroll for companies of all different sizes and niches, ranging from local retail businesses to SMEs, tech firms and startups.

 

  • Seamless Payroll Management with Xero:

    • We handle your payroll directly through Xero, ensuring accurate calculations, timely submissions, and full compliance with UK regulations.
    • Automatic submission of pension contributions, making it easy to meet your workplace pension obligations without hassle.

  • End-to-End Payroll Support:

    • From setting up employee records to managing payslips and tax deductions, we ensure your payroll process is smooth and stress-free.
    • Stay confident knowing your payroll is always up-to-date, with expert oversight and integrated pension compliance.

If you’re an early stage start-up, and it’s only you, we offer a Director-only payroll service at a reduced rate.

 

This includes all the same things as regular payroll fling, including your pensions.

  • Comprehensive VAT Management:

    • We handle your VAT submissions, ensuring accurate calculations and timely filings to keep your business fully compliant with HMRC.
    • Whether you use standard VAT accounting, the flat rate scheme, or cash accounting, we tailor our services to fit your business needs.

  • VAT Registration Made Simple:

    • If your business needs to register for VAT, we take care of the entire process, from assessing eligibility to submitting your application.
    • Receive ongoing support to ensure your VAT compliance is maintained, with expert guidance on thresholds, schemes, and record-keeping.

  • Reliable and Accurate Bookkeeping:

    • We ensure your financial records are meticulously maintained, giving you a clear and accurate view of your business transactions.
    • Our bookkeeping service provides the foundation for all other aspects of your accounting, from VAT submissions to annual financial statements.

  • A Strong Foundation for Success:

    • With organized and up-to-date bookkeeping, you’ll have the confidence and clarity to make informed decisions and plan for growth.
    • By entrusting us with your bookkeeping, you’re setting your business up for seamless accounting and compliance.

  • What is a Confirmation Statement?

    • A Confirmation Statement is a mandatory annual filing with Companies House, ensuring your company details, such as directors, registered office, and shareholders, are up-to-date and compliant with UK law.
    • It is a legal requirement for all UK-registered companies, with penalties for late or incorrect submissions.

  • How We Can Help:

    • We take care of preparing and submitting your Confirmation Statement, ensuring accuracy and timely filing to avoid any fines or compliance issues.
    • Our expert team keeps your records up-to-date throughout the year, so the process is quick, efficient, and stress-free for you.

  • What is a Self Assessment?

    • A Self Assessment is an annual tax return required by HMRC for individuals such as self-employed workers, landlords, and company directors, to report their income and calculate their tax liabilities.
    • It includes reporting income, allowable expenses, and other taxable earnings like dividends or capital gains.

  • How We Can Help:

    • We handle the entire Self Assessment process, from gathering the necessary information to accurately preparing and submitting your return on time.
    • Our expertise ensures you claim all allowable deductions and reliefs, helping you minimize your tax bill while staying fully compliant with HMRC.
 

  • What Are Accounts Payable and Receivable?

    • Accounts Payable refers to the money your business owes to suppliers or vendors, including bills and invoices that need to be paid.
    • Accounts Receivable involves tracking and managing the money owed to your business by customers, ensuring invoices are issued and payments are collected promptly.

  • How We Can Help:

    • We streamline your accounts payable process, ensuring all payments are accurate, timely, and well-documented to maintain strong supplier relationships.
    • Our team manages your accounts receivable, keeping track of outstanding invoices, following up on overdue payments, and improving cash flow for your business.

  • What is the Company Formation Process?

    • Company formation is the process of legally registering your business with Companies House, giving it a unique legal identity.
    • This includes choosing a company name, assigning directors, and outlining the structure, such as limited company or partnership.

  • How We Can Help:

    • We handle every step of the company formation process, from preparing the required documents to registering your business with Companies House efficiently and accurately.
    • Our team ensures compliance with UK regulations, provides guidance on the best company structure for your needs, and helps set up essential records, such as Articles of Association.

Advanced

  • What Are R&D Tax Credits?

    • R&D (Research and Development) tax credits are a government incentive designed to reward UK businesses investing in innovation, including developing new products, processes, or services.
    • Eligible businesses can reduce their corporation tax bill or receive a cash refund based on qualifying R&D expenditure.

  • How We Can Help:

    • Our team identifies eligible projects and expenses, ensuring your R&D claim is accurate and maximizes the benefit for your business.
    • We manage the entire claims process, from gathering evidence and preparing the submission to liaising with HMRC on your behalf.

  • What Are Management Accounts?

    • Management accounts are detailed financial reports prepared periodically to provide insights into your business’s performance, including cash flow, profitability, and key trends.
    • They help you make informed decisions by offering a clear and up-to-date picture of your financial health.

  • How We Can Help:

    • We prepare tailored management accounts, ensuring you have accurate, actionable data to support strategic decision-making and business growth.
    • Our service includes dedicated time for a meeting to review the results, discuss key findings, and provide expert advice on the next steps for your business.

  • What is a Fractional Finance Director?

    • A Fractional Finance Director is an experienced financial expert who works with your business on a part-time or project basis, providing strategic financial guidance without the cost of a full-time hire.
    • They help with high-level financial planning, cash flow management, fundraising, and driving business growth through expert financial oversight.

  • How We Can Help:

    • Our Fractional Finance Director service provides you with access to senior-level financial expertise tailored to your business needs and budget.
    • We help create and implement financial strategies, improve cash flow management, and provide insights to make informed decisions.
    • Whether you need assistance with financial forecasting, navigating growth challenges, or preparing for investor presentations, we ensure your business is financially robust and future-ready.

  • What Are EIS and SEIS?

    • The Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS) are government initiatives designed to encourage investment in UK businesses by offering significant tax reliefs to investors.
    • SEIS is aimed at early-stage businesses, while EIS is tailored to more established businesses looking to attract growth funding.

  • How We Can Help:

    • We guide you through the process of applying for EIS or SEIS, ensuring your business meets the eligibility criteria and filing the necessary paperwork with HMRC.
    • Our team assists in structuring your funding proposal to maximize investor appeal and compliance with the schemes’ requirements.
    • We manage ongoing compliance, including issuing EIS/SEIS certificates to investors, so you can focus on growing your business while maintaining HMRC approval.

  • What Are Employment-Related Securities (ERS)?

    • Employment-Related Securities (ERS) refer to shares or securities offered to employees or directors as part of their employment, often used in incentive schemes like share options or growth shares.
    • These schemes are subject to specific HMRC reporting requirements to ensure compliance and avoid unexpected tax liabilities.

  • How We Can Help:

    • We assist in setting up and managing your ERS schemes, ensuring they align with your business goals and comply with HMRC regulations.
    • Our team handles the preparation and submission of annual ERS returns, ensuring accurate reporting and timely filing.
    • We provide expert advice on structuring employee share schemes to maximize tax efficiency for both your business and your employees.
    • From initial planning to ongoing compliance, we offer comprehensive support to help you retain and reward top talent effectively.

  • What is Cashflow Forecasting?

    • Cashflow forecasting involves predicting your business’s future financial position by estimating income and expenses over a specific period.
    • It helps identify potential cash shortages, plan for growth, and make informed financial decisions to keep your business on track.

  • How We Can Help:

    • We create detailed, customized cashflow forecasts tailored to your business needs, giving you a clear picture of your financial future.
    • Our forecasts help you plan for upcoming expenses, manage working capital effectively, and avoid cashflow issues.
    • We provide actionable insights based on your forecast and allocate time to discuss strategies for improving cashflow and achieving your financial goals.
    • Whether you’re managing day-to-day finances or planning for major investments, we ensure you have the tools to stay in control of your business’s cashflow.

  • What Is Carbon Accounting?

    Carbon accounting is the process of measuring and tracking greenhouse gas emissions produced by your business activities, products, or supply chain. It’s a key step in understanding your environmental impact and working towards sustainability goals. Accurate carbon accounting supports regulatory compliance, investor reporting, and informed decision-making around emissions reduction.

     

  • How We Can Help:

    • We calculate your business’s carbon footprint across scopes 1, 2, and 3, using recognised methodologies and frameworks.

    • Our team identifies key emissions hotspots and offers practical recommendations to reduce your impact.

    • We provide clear, audit-ready reports for internal use or external stakeholders, including customers and investors.

    • Whether you’re working toward net zero or just getting started, we offer tailored support to help you meet your sustainability objectives.

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