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At Dream Accounts we like to keep things simple.We understand our clients and know that there isn’t such a thing as a silly question.Using simple words, we pride ourselves in our ability to make all those tax complicated issues and terms easy to understand.
You need a National Insurance number to make sure your National Insurance contributions and tax are recorded against your name only.
We will help you book an appointment and advise about all the process that will follow. You must have the right to work or study in the UK to get a National Insurance number.
We will help you identify all your areas of tax wastage and advise you on ways to become more tax efficient, saving you a significant amount of money over the longer term.We will also inform you of any changes in tax law that could affect you (either in a bad way or a good way).
Many people don’t realise that they’ve overpaid tax. This means that the taxman could be holding onto money that should be in your pocket. With Dream Accounts you can easily find out if you’re due a tax refund and if you are, we can sort it all out for you, with the least hassle possible.
You will have to pay capital gains tax (CGT) on any increase in value of an asset that you sell. Typical assets might be stocks and shares, fine art, property (though not your primary residence), wine, antiques, business assets and so on. The tax is paid only on the gain in value since you acquired it, not on the total sale price.
We will reduce the amount of CGT you have to pay, such as by offsetting losses against future gains. This is a complex area where advice can make a big difference.
Tax credits are payments from the Government. Although they are administered by HM Revenue & Customs (HMRC), these credits have nothing to do with the tax system and are not connected with how much tax you pay.
If you are responsible for at least one child or young person who normally lives with you, you may qualify for Child Tax Credit (CTC). You do not have to be working to claim CTC.
If you work, but are on a low income, you may qualify for Working Tax Credit (WTC). WTC is based on the hours you work and get paid for, or expect to be paid for. You can claim whether you are an employee or a self-employed person, but unpaid work does not count for WTC.
We will assist you with making your claim for child tax credit and working tax credit and we will monitor the progress of the claim. Once received the award notice we will check it and inform you of any irregularities.
You get Child Benefit if you’re responsible for a child under 16 (or under 20 if they stay in approved education or training).
We will assist you in completing the forms and we will monitor the progress of the claim. Once received the award notice we will check it and inform you of any irregularities.
We will assess your financial circumstances, consider your life goals and help you create a strategy for improving your tax efficiency, so you can direct more of your money where you want it to go.
We take a special interest in start ups whether you are a one person operation with no aims to grow or an entrepreneur starting out that wants help to make their business grow!
So whether you need help with all the formalities of keeping books and the tax system or more pro-active business advice to help ensure your success, we'd like to help.
Investing in the right advice when you start up will help ensure you are one of the successes and we have very attractive fee packages for start ups to ensure you can get all the help you need.
To make sure you have a viable business strategy to start with and that the cashflow works.
Advice on the right business structure for you, from Sole Trader to Limited Company;
Raising Finance. Assistance in raising finance from lenders and advice on the different sources of finance;
Bookkeeping can also be an arduous and time consuming task. Time that for most business owners could be better spent running their business.
We provide a full bookkeeping service that includes:
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Entry of all sales and purchase transactions into our state of the art accounting system;
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Entry of all bank and cash transactions into our system;
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Reconciliation of bank statements to the accounts to confirm accuracy;
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Monthly Profit & Loss reports;
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Monthly Balance Sheet (analysis of assets & liabilities);
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Debtors report showing by customer, how much is owed and how much is overdue; and;
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Creditors report showing by supplier, how much is owed and how much is overdue.
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Using our bookkeeping service not only frees up your time to run your business (and therefore make more profit!), it also give you the peace of mind that your books are being kept up to date by experts.
Time consuming, complicated, boring. Let us take away the stress of dealing with your payroll. We offer a highly personal service tailored to exactly what your business needs.
Our Payroll service includes:
- Monthly Payslips for all directors and employeesWe’ll help you get your VAT returns correct and advise you on the VAT schemes available which can make your life easier and keep your VAT bill down.
We understand exactly what must be declared on the VAT returns, what VAT must be paid over and what VAT can be reclaimed. Many small business owners do their own VAT returns without a full understanding of this and this often leads to problems of mis-declared VAT.
We make sure this doesn’t happen to our clients.
HMRC can and do impose automatic late filing and late payment penalties.
To make sure you know where you're going and how you're going to get there;
Key performance indicators to help you monitor how you're actually doing against your plan .Advice on what changes you can make as you progress.
We’re committed to making sure you don’t pay any more tax than you’re legally required to. We’ll advise you on the best structure for your business and the best way to pay yourself – so you get to keep more.
Also known as filing your tax return, self-assessment is essentially just telling HMRC how much income you have received in that tax year, so they can work out how much income tax you need to pay. It’s vital, therefore, that you record and retain this information throughout the year.
It is a lot to deal with on your own, especially if you have a business to run, and any mistakes can be very costly. Our vast tax expertise will help you minimise both the stress and the amount you may have to pay.
If you start working for yourself, you’re classed as a sole trader - even if you haven’t yet told HM Revenue and Customs (HMRC).You must register and follow the rules for self-employed tax and National Insurance.
As soon as you become self-employed, you must register to pay Class 2 NICs. For the 2014-15 tax year, you pay £2.75 per week (unless you expect to earn less than £5,885 during the tax year).
We’ll help you get your tax return completed properly and submitted on time. We’ll calculate exactly what you owe and take away all the problems of having to deal with the tax man.
When you're self-employed, the most important thing you need to do is prepare accounts correctly and there are many business benefits to be gained from keeping records.
We provide a full bookkeeping service that includes:
- Entry of all sales and purchase transactions into our state of the art accounting system;
-
Entry of all bank and cash transactions into our system;
-
Reconciliation of bank statements to the accounts to confirm accuracy;
-
Monthly Profit & Loss reports;
-
Monthly Balance Sheet (analysis of assets & liabilities);
-
Debtors report showing by customer, how much is owed and how much is overdue; and;
- Creditors report showing by supplier, how much is owed and how much is overdue.
We’ll help you get your VAT returns correct and advise you on the VAT schemes available which can make your life easier and keep your VAT bill down.
We understand exactly what must be declared on the VAT returns, what VAT must be paid over and what VAT can be reclaimed. Many small business owners do their own VAT returns without a full understanding of this and this often leads to problems of mis-declared VAT.
We make sure this doesn’t happen to our clients.
HMRC can and do impose automatic late filing and late payment penalties
Under the Construction Industry Scheme (CIS), contractors deduct money from a subcontractor’s payments and pass it to HM Revenue and Customs (HMRC).The deductions count as advance payments towards the subcontractor’s tax and National Insurance.Contractors must register for the scheme. Subcontractors don’t have to register, but deductions are taken from their payments at a higher rate if they’re not registered.
We provide a full CIS service that includes:
- CIS registration and administration
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Calculation of deductions
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Production of payment statements
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Submit monthly returns for contractors
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Prepare and issue payment and deduction statements for sub-contractors
Time consuming, complicated, boring. Let us take away the stress of dealing with your payroll. We offer a highly personal service tailored to exactly what your business needs.
Our Payroll service includes:
- Monthly Payslips for all directors and employees
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Notification of how much to pay to HM Revenue & Customs and when to pay it (we automatically enroll small employers on the quarterly payment scheme)
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P45s for leavers
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P60s for all employees at the end of the tax year
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P11Ds for all employees at the end of the tax year
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Submission of Real Time Information to HM Revenue & Customs.
