Bookkeeping

Due to personnel costs, task duplication throughout the accounts preparation phase, and the possibility of errors being undetected, an increasing number of businesses are reaping the rewards of outsourcing. These knowledgeable experts do much more than just enter data; they also provide you with professional advise and a heads-up when something needs closer examination. We are able to gain a deep understanding of your company through close collaboration. You may also be sure that your tax returns will be flawless on that front because we have extensive expertise working with HMRC!

Annual Accounts Preparation

We are aware that you enjoy keeping up with your company’s financial situation. That’s why companies of all sizes in a range of industries rely on our accountants to provide thorough account management and reporting. Our accountants can offer the assistance you require to succeed, whether it is in establishing your hierarchy of key performance indicators or aiding with the filing of your annual report. We understand that your company is unique in every manner and that every firm has a different route to success, which is why we are more than just accountants. To ensure that you are prepared for the future, we offer expert account management and assistance.

Business Funding

There has never been a better moment to borrow money because lending rates are at an all-time low. This is a fantastic opportunity to build your business, make investments, and enjoy the benefits.
Obtaining capital is essential for many businesses to expand. The knowledgeable staff at The Masters Accountants has access to several finance options that can be customised to meet your requirements.

Cloud Accounting

Everyone will be using cloud accounting in the near future as it saves so much time; therefore, the sooner you begin, the better for your company. Safety? Your data is secure than ever thanks to the multi-layered protection offered by contemporary cloud providers. Observance? Your systems are always compliant because they are updated on a regular basis. Reversing course? There’s no need to worry; it occurs automatically, just like software updates do, keeping you running the most recent version. Availability? From your house, to your clients’ offices, to the conference hotel, or even from your boat in the Caribbean, you can access your cloud systems.
Allow our professionals to use cutting-edge technologies to link your company to the cloud, and our accounting experts can assist you in managing everything from

Company Restoration

Administrative restoration

We provide a professional and effective company restoration service to all of Wales and England. The Companies Act of 2006 brought about modifications to the processes and timelines for business restoration. Our expertise can assist you in finding the best and most affordable plan for reviving your business.

If a company was struck off by the Registrar of Companies while it was operating, it may be reinstated administratively. It would normally have been struck off for failing to file its statutory documentation in a timely manner.

You had to be a director or shareholder when the business was dissolved in order to be eligible for administrative restoration, and your application had to be submitted within six years after the company’s dissolution. When all documentation is accurately filled out and filed, the administrative restoration procedure typically takes two to four weeks to finish. If qualified, administrative restoration is a speedier and less expensive option than corporate restoration through a court judgement.

You can reach our team right now or see more details about the prices and administrative restoration process below.

Court Restorations

There are numerous justifications for a court order to restore your business. The most frequent justification is to retrieve corporate assets, which are transferred to the Crown as “bona vacantia” (ownerless goods) when a corporation dissolves. These assets include cash and property. Depending on the courts, the company restoration process may take up to four months.

Firms Act of 2006, s. 1030, states that applications for reinstatement to the Register can only be made by firms that have dissolved within the last six years. Regretfully, a firm cannot be reconstituted if it has been dissolved for longer than six years. This simply does not apply where a business is being revived in order to pursue a personal injury lawsuit.

You can talk with our team to get more information about the specifics and associated fees.

Corporate Finance

It helps to have some seasoned big shots at your side who can assist, mentor, and bat for you when needed, whether you’re buying, selling, or seeking capital for a company. With decades of experience in major transactions, Our Corporate Finance Specialists can provide you with a level head, a wide shoulder, and sound judgement at every turn.

Making Tax Digital

HMRC launched the Making Tax Digital (MTD) programme to make it simpler for people and businesses to file their taxes correctly. As more businesses become aware of the advantages, many are switching from spreadsheets and paper records to the new digital system. Making Tax Digital only relates to VAT submissions for the time being, but it will also cover income tax and corporation tax in the coming months and years.

This will be the new norm, thus it’s critical to select software that is MTD compatible, HMRC recognised, and easy to use. For individuals who choose to stick with spreadsheets rather than switch to 100% MTD software, there is now an option to purchase MTD bridging software.

The Masters Accountants will provide expert assistance in selecting, setting up, and maintaining the appropriate software for your company, preventing overspending or underestimating needs, and guaranteeing seamless operation.

Payroll

Still dealing with internal payroll’s expense and headaches? Keeping up an expensive, antiquated payroll system that is prone to mistakes? Since The Masters Accountants can handle it so much more cheaply for you, there really isn’t a need for it. This allows you to focus on the areas of your business where you can actually make an impact. You’ll question why you didn’t deal with our knowledgeable payroll team sooner after working with them. Regardless of the number of employees, an all-inclusive off-site payroll service that is quick, effective, and flawlessly eliminates the possibility of mistakes, omissions, and late payroll tax filings.

Tax

The top tax planners assist you in making future plans and minimising your tax obligation without drawing attention from the tax officer. To guarantee that you never pay more than necessary and steer clear of any unpleasant surprises, you can rely on your Our tax partner’s in-depth understanding of the most recent laws and tax preparation techniques.

Tax Returns

You may be subject to fines and perhaps an investigation if your self-assessment tax return is not accurately and timely filed to HMRC each year. It provides HMRC with all the data regarding your income and individual financial circumstances that you are legally obligated to provide.
When you have our professionals here to assist, filling out your tax return is risky, time-consuming, and completely unneeded. We’ll make sure you keep spotless and don’t pay a dime more than is necessary.

Tax Planning

Because tax preparation can be intricate, our tax professionals are here to assist you with every step of the way. We aim to be the best at every aspect of your company’s tax obligation with the dual goals of increasing tax benefit and tax compliance. Rather than dwelling on past errors and rectifying them, we assist you in developing strategies and frameworks to avert the intricate hazards associated with taxes. Our tax accountants make sure that your company is ready for anything that comes with tax season.

VAT

VAT will have an impact on your revenue and expenses whether you run a local government agency, a for-profit business, or a commercial enterprise.

Our committed VAT specialists have extensive and in-depth knowledge from both client-side advisory work and the revenue and tax industry. They are aware of the subtleties of the VAT regime, how to assist clients facing HMRC issues, what the agency requires, and how to develop VAT compliance. They will create effective tax plans for your company and look for chances in new rules.

Plastic Packaging Tax (PPT)

On April 1, 2022, PPT was first introduced. It required plastic packaging producers and importers to decide if they needed to register and account for PPT on the goods they produce or bring into the UK.
Even if you don’t think the tax applies to you, you still have to undertake your due diligence and risk severe fines for noncompliance.
Of course, there are exclusions from the tax and certain products are exempt from it, but it’s best to confirm with the professionals before it’s too late to be positive.

One important document that specifies the amount of VAT that must be paid to HMRC is a VAT (value added tax) return.

• The total sales amount (VAT excluded) and the VAT charged on such sales should be included.
• Information about your purchases (VAT excluded) and the VAT you paid (and can consequently refund)
• If relevant, a synopsis of commerce with EU nations; UK businesses can claim VAT on EU imports.

You must register, charge VAT to your customers, and file a VAT return if your yearly turnover exceeds the VAT threshold.
Four AT returns must be completed annually and electronically submitted to HMRC.

The frequency of HMRC visits will be primarily determined by the size and complexity of your company, as well as your previous record of errors.
One of the best ways to reduce the chance of a VAT inspection is to use The Masters Accountants’ VAT accounting solution. Of course, you should unwind if you’ve been collaborating with a member of our VAT Accounting Team and they notify you of their visit! Everything will be organised. You are able to trust us.

Using reliefs to their fullest potential, such as the nil rate band, donations, and business property relief; valuing firm shares; using trusts; and reviewing your will’s provisions