Address
Kings Lodge, London Road

West Kingsdown
Nr. Brands Hatch
Kent, TN15 6AR

Telephone
01474 853 856
Available: 9am - 5:30pm, M-F

 

© 2018 A4G Specialist Veterinary Accountants

They don't teach business at Vet school.

15th & 16th November 2018

THE SOLUTION

The experience of running your own practice is sure to be far from the expectations you had when you were training, and working for somebody else's.

Whatever your experience of finances, there are usually areas in which you will need advice from someone with a specialist knowledge in the industry.

We can relieve the stress by keeping things simple. We'll help you understand and plan your future tax position, and structure efficient methods to withdraw your earnings from the business.

WHO WE'VE HELPED

We help practices and locums around the UK.

The one thing we hear the most from the practices we help is how refreshing it is to work with us, because by putting some simple, logical steps in place, we can clear away the financial fog that clouds around your practice, or personal situation.

TAX PLANNING & REDUCTION

As the famous quote says "In this world nothing can be said to be certain, except death and taxes…” To ensure you are compliant and are making use of any tax saving initiatives available, we have a tax team who are at your disposal. They will assess your individual circumstances and assist you in implementing non-aggressive tax planning structures.

It goes without saying that as accountants we deliver the following services to ensure you are always compliant

  • Accounts Preparation
  • Audit and Assurance
  • Company Secretarial 
  • Personal Tax
  • Year End Service
  • Business Tax

COMPLIANCE

PROFIT & CASH FLOW IMPROVEMENT

We have many years experience helping clients improve their profit and cash flow. We can help you:

  • Achieve profitable growth
  • Make your business more valuable to potential buyers
  • Increase your cash availability
  • Reduce your costs

Recent government changes mean that every employer now has to have a pension scheme in place for their employees, including those who are part-time. Our payroll experts can support you with your payroll process, as well as helping you develop and implement an auto enrolment scheme.

PAYROLL & AUTO ENROLMENT

Book an Informal Chat or a Xero Demo with our experts

ASK US A QUESTION

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TAX PLANNING & REDUCTION

As the famous quote says "In this world nothing can be said to be certain, except death and taxes…” To ensure you are compliant and are making use of any tax saving initiatives available, we have a tax team who are at your disposal. They will assess your individual circumstances and assist you in implementing non-aggressive tax planning structures.

It goes without saying that as accountants we deliver the following services to ensure you are always compliant

  • Accounts Preparation
  • Audit and Assurance
  • Company Secretarial 
  • Personal Tax
  • Year End Service
  • Business Tax

COMPLIANCE

PROFIT & CASH FLOW IMPROVEMENT

We have many years experience helping clients improve their profit and cash flow. We can help you:

  • Achieve profitable growth
  • Make your business more valuable to potential buyers
  • Increase your cash availability
  • Reduce your costs

Recent government changes mean that every employer now has to have a pension scheme in place for their employees, including those who are part-time. Our payroll experts can support you with your payroll process, as well as helping you develop and implement an auto enrolment scheme.

PAYROLL & AUTO ENROLMENT

BOOK YOUR CHAT OR DEMO NOW!

Send an email to: Xero@a4g-llp.co.uk to arrange your Xero demo today.

Can't make the Vet Show but have a question for Josh or Joe? Enter your details and ask away! They'll get back to you as soon as possible. 

A4G LLP - Accountants in Kent

A4G Veterinary

Part of the A4G Group

01474 853 856

www.a4g-llp.co.uk

"The first step to giving good advice is to listen carefully." 

Only by understanding your needs and concerns can we take the big complicated issues and provide simple bitesize solutions.

Making Tax Digital will be the biggest change to the taxation system in 20 years. This new government legislation will change the way that businesses submit their financial data to HMRC, meaning an end to the tax return for millions.

WHAT?

WHY?

The primary aim of Making Tax Digital is to ‘make it easier for individuals and businesses to get tax right and keep on top of their affairs'.

Other reasons include: allowing businesses to budget and plan effectively and knowing where they stand when it comes to tax affairs.

WHEN?

From April 2019, businesses with a turnover above the VAT threshold (£85,000) will be required to submit quarterly VAT information in this way. 

By April 2020, HMRC will widen the scope of MTD by including taxes for sole traders and partnerships and corporation tax for limited companies. 

DOES THIS MEAN I'LL HAVE THE STRESS OF COMPLETING A TAX RETURN 4 TIMES A YEAR?

The simple answer is no. Yes, you will have to update your tax records quarterly but this is not the same as filing four separate tax returns. In fact, you should be less stressed. 

Most people dread completing their tax returns because they leave it to the last minute, with mountains of receipts and invoices to work your way through. Frankly, it’s a nightmare.

But with quarterly updates, you’ll instead update your figures throughout the year, reviewing your data and confirming that it’s accurate - so you won’t have that mad rush at the end of the year trying to get organised and on top of your books. 

DOES THIS MEAN I'LL PAY MORE TAX?

No – you’ll still only be paying tax once, at the end of year. But by using cloud accounting software, like Xero, you’ll be able to calculate your tax bill throughout the year and save accordingly. This means you’ll be more organised when it comes to the end of year tax returns.

HMRC do also have an option for businesses wishing to pay income taxes quarterly. You still won’t be paying more tax, but you can spread the costs across the year. 

WHAT ARE THE CONCERNS?


  • Access to your tax information in real time

  • All tax information and interactions in one place

  • Less form filing
     
  • Communication with HMRC will be easier than ever – with both the business and HMRC having a complete overview of all taxes in one place

  • Keep up to date with your business performance

  • Informative business decisions can be made 

  • You can budget better for upcoming tax liabilities 

CAN I STILL USE SPREADSHEETS?

You will still be able to continue using spreadsheets for record keeping, but you must ensure that they meet the requirements of MTD. This will involve combining spreadsheets with software. 

You will need to find an integration tool which can push the required data from the spreadsheet into a cloud-based accounting software, like Xero, which naturally links to HMRC’s system. This will however come with an added cost for subscribing to the software and a substantial amount of your time in changing your formatting to match this.  

Or you can, of course, just convert to a cloud-based software. It needn’t cost you a fortune. Many of our clients have moved from spreadsheets to Xero, which has proved to be easier and faster to use. In fact, we suspect that overall Xero will be cheaper to run than spreadsheets in terms of software linking and your time spent.

HMRC have confirmed that they will not be providing software directly. However, they “will ensure that free apps and software products are available", but we are yet to test a version that is any good!

PAYROLL & AUTO ENROLMENT

SO, HOW WILL IT BENEFIT ME?

  • More data will be passed to HMRC throughout the year than ever before

  • Any planning you do should be done throughout the year – big year-end adjustments are not going to look good anymore!

  • You will have to keep up-to-date and accurate records

  • You will want to know what you are sending to HMRC – at year-end we check over all the disclosures we make and think about how HMRC may view them. If you are submitting direct from the bookkeeping, HMRC could see this without our vetting

PAYROLL & AUTO ENROLMENT

ASK US A QUESTION

Do you still have any questions regarding Making Tax Digital and what you need to do to comply? Enter your details and ask us your question. We can arrange an informal chat with one of experts to help guide you with the next steps you need to take.

We take a holistic approach to our service, placing the individual hopes and goals of our clients at the centre of all we do, to ensure that we're giving tailored advice. We have helped practices from start up to retirement and have a wealth of knowledge to assist all in the veterinary industry, from running a practice to operating as a consulting locum, to much broader aspects such as tax planning in relation to property and investment.

“Save me Tax!” – The most common outcry we hear as accountants, undoubtedly worldwide. But, what appears to be a simple ask actually has to be treated with a great deal of consideration, in order to avoid a reply of: “I have saved you tax now that has actually cost you a lot in the future.” 

Having your finger on key financial information about your own business has never been easier, but do you know your stats? If you don’t have the data about where your business is now, then how can you make realistic judgements to get the business to where you want? Luckily, this is where Xero comes in...

We want you to make the most of your life’s work. Selling to a larger company doesn’t mean you’re selling out. Not having a plan at all… now that is the real mistake! What are your options for getting value out of your hard work building the practice?

Save me Tax

Where am I?

The end game

Read full postRead full post

WHAT CAN WE DO?

You may have heard that Tax is going digital, and as a result, thousands of businesses are abandoning Sage. Why? Because using cloud accounting software that complies with the governments' plans to make tax digital is now a must, as opposed to a luxury - and you want to get the best package at the best cost. Our Cloud Accounting Team will work with you to get the most out of the software you have, but after trying them all, we recommend Xero as the most innovative, efficient cost effective solution. It’s no surprise that Xero have 1,000,000+ subscribers worldwide!

Being a Xero Platinum Partner firm means that we have experts on hand to help with all things Xero, from migrating your data from your old system, to tailor-making a package that really aids the growth and efficiency of your practice.  Our team are constantly busy trying and testing the apps that integrate with Xero (of which there are hundreds) to take care of the areas of business you hate, so you can get back to doing what you love. 

WE'RE XERO PLATINUM PARTNERS

PAYROLL & AUTO ENROLMENT

What does this mean and why should you care?

Read full post

Digitising Tax: The biggest change to the tax system for 20 years

The phrases “Making Tax Digital”, “Digitising Tax” and “The Death of the Annual Tax Return” are buzzing around at the moment and causing a bit of a stir. What does it all mean? Should you be worried?

We're exhibiting at the London Vet Show

Stand: Q90 Date: 15 & 16th November 2018


Don't miss out on seeing Josh present on the 16th on the following topic:

Do HMRC want you to pay tax quarterly? 

BE PREPARED: HMRC Want your accounts DATA every three months. If you sent over your figures now what would it tell them?

From April 2019, Vat submissions change, and from April 2020, HMRC will take quarterly reports from all small businesses.  HMRC are recruiting a larger team, because with this extra information they will be making a lot more enquiries!


We will discuss these changes (broadly termed “Making Tax Digital”) and discuss how you can be prepared so that you’re not one of the unlucky people facing an enquiry.

Read full post
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