Our Services
MANAGEMENT ACCOUNTS
These are periodic sets of accounts designed to keep INTERNAL MANAGEMENT informed of how the business is progressing. Ideally, this should be measured against a forecast for sales and a budget for costs but in the absence of these it is still important to know at the very least - whether a profit or a loss is being sustained BEFORE the year end. We would recommend quarterly periods of account for small enterprises and monthly intervals for larger entities.Additionally, reports can be produced which disseminate the information into the level of detail required for different levels of management. This is one of the essential requirements for effective information provision.
FORECASTING AND BUDGETING
Just starting in business? Has the bank asked you to prepare a forecast in order to justify a lending or overdraft facility? Bring your ideas in to us and we can prepare you a professional short term or long term forecast to present to your manager and to use as a performance measurement tool when monitoring your business's progress.
STATUTORY ACCOUNTS PRODUCTION
All incorporated (Ltd.) companies must provide annual accounts to comply with the Companies Act 2006. These have to be laid out in a statutory format. Although every company is different and some companies' accounting functions are better managed than others we have provided some guide prices on our fees page.
SELF ASSESSMENT
For Sole Traders and Partnerships
Self assessment is a requirement for all “self employed” status individuals, whether sole traders or partnerships. These are the legally required returns from which tax and NIC liability is assessed on the individual. It is, therefore, vital that these returns are accurate in order that the individual neither pays too much, nor too little, tax. For those reading this for whom the words “too little tax” cannot exist then be warned. HMRC can and does impose heavy penalties on those who evade paying the correct amount of tax. We at Kara work hard to minimize our clients' tax liabilities using avoidance techniques currently available without evading tax liabilities. There is a large distinction between the two words as any HMRC inspectors will be pleased to explain.
For Limited Companies
This is the completion of the company's corporation tax return on which the company's liability to corporation tax is calculated. It is a complicated computation and is best done by those familiar with its workings. KARA Accountants software systems are integrated and allow the process to be streamlined to reduce the time in producing them and hence the cost to our clients.
ONLINE BOOKKEEPING SOFTWARE
Kara is delighted to announce that it has teamed up with Arithmo software to provide an on-line accounts software package for clients and new users alike. We have spent a long time looking for a simple but effective software package which can provide a non accounting and user friendly interface for the users who don’t have advanced accounting knowledge.
FORENSIC ACCOUNTING
If you are not happy with the content of your accounts or you have a suspicion that a member of your team is misappropriating company or business funds, we can provide a fully confidential and discerning investigation to see whether there is any foundation to your concerns or not. Our senior partner has many years experience in this field and is well versed in finding and proving financial irregularities.
