Fast, efficient services with professional systems that support your growing business.
Xero is a trusted platform where you can rest assured all your information is safe and secure. Cloud technology at it’s best.
Whatever services you require to grow your business, Rana & Co Accountants have the capability, experience and knowledge to help you. Every business needs support and the right company and systems to work with. Wherever you are in your growth plan, we have the right support package for you. Just ask us!
Click here to book discovery call and find out how we can save you money with smart cloud accounting.
Our Accountancy Services ensure that you are fully compliant and that everything's in order.
Annual Accounts & Corporation Tax Return
As a limited company, you are required to prepare statutory accounts and submit these to Companies House annually.
This is all included within your quote and you will have peace of mind knowing that this is all taken care of for you.
You are also required to file a Corporation Tax Return annually with HMRC.
We’ll take care of everything that HMRC require and inform you of the corporation tax payment required in plenty of time.
We will be preparing and submitting your quarterly VAT returns ongoing, meaning that you will be well aware of your VAT liabilities and keep the VAT-man happy!
We’re not just filing a bunch of numbers though, we take a 6 step approach to our VAT Returns service:
- Create a recurring quarterly job in our job management system so we NEVER miss a deadline and begin work on the VAT return the day after the quarter end
- Carry out an audit of ALL transactions for the period - check that purchase VAT has been claimed on every transaction that it should have been and conversely that it hasn't been claimed where it shouldn't have been
- Ensure that you are on the best scheme to maximise your cashflow - Cash or Accruals. Also keep an eye on going over the threshold at which you HAVE to move to accruals by obligation
- Send you notification of the amount due within 3 weeks of the quarter end, giving you 2 weeks’ notice of the amount to be taken automatically via direct debit
- File the VAT return on time, every time
- Deal with any queries, enquiries or investigations from HMRC so you don't have to get involved, allowing you to focus on running your business and avoiding further cost of bringing us into an investigation.
Monthly preparation and filing of the company payroll to HMRC and providing payslips to employees.
We will also advise on opportunities to reduce your PAYE bill, such as the £3k employers allowance that is currently available to reduce your employers national insurance bill.
If you provide benefits to your employees – cars, private medical insurance, gym membership, etc – we will prepare and file the annual P11D form to HMRC.
Directors Tax Returns
Along with preparing the company accounts and tax returns, we will also prepare your personal Directors tax returns. These are required to declare your personal income (Salary & Dividends) for the year.
An annual form that is to be submitted to Companies House giving details of the company address, Directors, Shareholders and Principal activity of the business.
Registering your company with Companies House, including the Registered Company address, directors, shareholders, persons of significant control, and share capital.
We will assist you in complying with the auto-enrolment pension legislation which is applicable for all businesses who have staff on their payroll
Auto-enrolment Pension Scheme Setup
Setting up a pension scheme is a must if you have eligible staff. We monitor your payroll and advise you of when you need to register on auto-enrolment as well as setting up the pension scheme on your behalf.
Auto-enrolment declaration of compliance
The declaration of compliance needs to be done every 3 years for anyone operating a payroll scheme, regardless of whether you need to register for auto-enrolment.
Auto-enrolment scheme operation and maintenance
Alongside operating your payroll scheme, we ensure that staff that are enrolled make the correct deductions. We then make the submission to your pension provider.
Our Bookkeeping Services are designed to save you time and take the pain out of getting everything together.
Raising & Sending Invoices
We’ll get to grips with your invoicing procedure and collate the information that we need from your project management system etc to create your sales invoices promptly and get them out to your clients.
Some clients need more managing than others when it comes to settling your invoices.
We’ll make sure they are chased up professionally and sensitively to get cash into your bank account whilst maintaining excellent relationships.
Processing Sales and purchase invoices in Receipt Bank and posting to Xero
We’ll login regularly and post invoices from Xero into your Xero accounting system so your payables list is always up to date and we’re ensuring up to date reporting.
Paying Staff Salaries & Expenses
We’ll make the monthly pay run to pay all of your staff salaries and expenses so you don’t need to worry about finding the time to make sure this vital process is carried out on time.
Software & Subscriptions
All of your subscriptions on one invoice
Xero (Cloud Accounting)
Xero charge a monthly subscription for using their software. Rather than paying multiple invoices for Xero and Accountancy, this allows you to consolidate everything into one monthly fee so you have just one payment coming out of your account each month.
A handy little tool for keeping track of your company expenses - this is a great little app that let's you upload all of your purchase invoices into Xero by doing little more than taking a picture on your phone and hitting submit - what's more, using this app also gives you a pdf backup of all of your purchase invoices so no need to keep loads of fiddly paper receipts any more.
Personal Tax Return Services - Self-Assessment
We will assist you in the preparation and online submission of your Personal Tax Return (Self-Assessment).
Personal Tax Return Submission
Preparation and online submission of your personal tax return, calculating your tax bills and advising you on how much tax to pay and when
Preparing your sole trader accounts and tax return, considering any appropriate adjustments for tax purposes, ensuring correct disclosure on the tax return and the appropriate claims are made on a timely basis.
Preparing your partnership accounts and tax return, considering any appropriate adjustments for tax purposes, ensuring correct disclosure on the tax return and the appropriate claims are made on a timely basis.
Property income accounts
Where applicable preparation of rental property accounts for income received and related expenses incurred during the tax year and ensuring correct disclosure on the return.
Taxation Review & Planning Services
These services are designed to save you tax in upcoming years.
Capital gains tax return
Capital Gains Tax is a complicated area of the UK tax law. Given the 30 day timescale to gather together information about the history of the property, costs and improvements over the years, before a reasonable tax calculation can be undertaken, the return completed and the possible tax due established it is in everyone’s interest for us to be involved as soon as possible, ideally well in advance of any impending sale.
Company Car Review Service
We will be able to identify how providing a vehicle through a business will impact on the business and the individual and report on the most cost efficient options for the individual and the business, together with what actions can be taken.
Property Impact Review
We would be happy to explore the options available for your circumstances and help you come up with a plan of action to reduce the impact of the tax changes and possibly even save you some tax.