Whether you are a small, medium or large sized business we can provide you with a choice of services.  We can cater for: 

• Limited Companies 
• Limited Liability Partnerships (LLP’s) 
• Sole Traders 
• Partnerships 

Our bookkeeping service will involve forwarding of purchase invoices, sales invoices and bank statements, as well as any additional information that will be required on a weekly, monthly, quarterly or annual basis.  From this information we will input the data into accounting software.  

The advanced services will consist of: 

The processing of sales invoices on a monthly, quarterly or annual basis. 

The processing of purchase invoices on a monthly, quarterly or annual basis.   

Filing of all purchase and sale invoices in a user friendly format.   

The reconciliation of all bank accounts on a monthly, quarterly or annual basis. 

• Entering purchase ledger documents (bills) 
• Entering sales ledger documents (sales invoices) 
• Preparing bank reconciliations 
• Preparing trial balances 
• Producing creditor and debtor report 
• Preparing cheque payments 
• Setting up computerised or manual bookkeeping systems 
• Trial balances Aged debtor reports 
• Aged creditor reports 
• Profit and loss account 
• Balance sheet 
• VAT return

Our aim is to release you to let you get on with running your business, while we give you the information you need to do so. In the process we will ensure that you have all the required information to fulfil your records obligations to HMRC. At year end we will also work with your Accountant to ease the way to dealing with any Taxation matters. 

In short we will become your accounts department.   

Accounting for VAT and Submission of VAT (Under Making Tax Digital – MTD)

If you are VAT registered, we will prepare and submit your VAT return under Making Tax Digital (MTD) system.

We are able to complete your VAT returns accurately and on a timely basis and submit digitally on your behalf.

 Many businesses believe they are entitled to claim VAT on certain expenditure that does not have VAT on it in the first place.    

At the time of preparing the return these silly mistakes may be considered as immaterial and not worth worrying about.  Well think again, we have seen many cases where assessments have been issued on businesses following a VAT inspection for thousands of pounds relating to these ”small insignificant amounts” that have accumulated over the years.  

And worst of all a significant number of businesses DO NOT reclaim VAT they are entitled to reclaim.  Now if you are lucky enough to avoid a VAT inspection (although this is unlikely) then this unclaimed VAT may never be identified.   

If you are new in business are you aware of what expenditure you can and cannot claim in relation to start up costs?   

If your primary records, from which your VAT return will be prepared are insufficient and poor in quality then there is a very good chance that your VAT returns will be incorrect. 

At Lipton Chartered Accountants we appreciate the significant monthly, quarterly or annual, cash outflow (in most cases) to H M Revenue & Customs in respect of VAT payments. Our aim is to ensure that VAT is correctly claimed and declared on a timely basis to avoid any nasty surprises later down the line. 

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