Business Support Service Details

 

BSSoverview

 

This service is designed for 1st time contractors, and those who do not want to be bogged down with the administration involved with running a company. London 1st will take care of all your company needs and statutory obligations, while you focus on earning the maximum company income. This service is a fixed monthly fee of £120 + Vat a month, and includes the following:

 

The fixed fee of £125 + Vat per month includes all of the following:

 

  • 24/7 Online Bookkeeping and accounting softwarewith invoice processing, P & L and balance sheet reporting with drill down into detailed ledgers. All company information such as past financial statements stored in one place.
  • Your accounts are kept up to date on a daily basis. We will keep track of what income and expenses are paid into and out of your bank account, so you can log in at any time and see what invoices are paid/unpaid, what taxes you owe and what dividends can safely be paid without overdrawing all with the reassurance that your accounts reflect the cash at bank – day or night.
  • We will email you as soon as there is a change in your accounts, sending you a summary of your updated company accounts
  • You can contact your own personal consultant who knows your company accounts and is ready to assist you with all the support you require.
  • We will continually monitor and help plan your tax so that you maximise your earnings and warn you when you may be entering higher levels of tax.
  • We will deal with all Companies House and HMRC correspondence pertaining to your limited company
  • Complete company annual returns
  • Complete PAYE returns
  • Complete your personal tax return
  • We advise on salary and dividend payment each time an invoice is paid into the company account.
  • Calculate the taxes you will need to pay and account for a provision for   these liabilities - provided you follow the guidance we provide, you should have no nasty surprises when your tax bill comes.
  • Unlimited specialist advice and help at no extra cost
  • Year- end accounts
  • Cessation accounts and company closure if required*

 

 

What we need from you:

  • Enter Invoice and Expense information, via online software
  • Signing and returning all necessary HMRC and Companies House documents provided by London 1st by the due date;
  • Forwarding copies of all official correspondence,Notifying London 1st of any change to personal circumstances, for example a change of name or postal address
  • Notifying London 1st of any holidays or extended periods where our services will not be required.*Make payments, based on your company position and reports that we produce and calculate under your instruction.

 

*       Please note that fees will be charged for services on a monthly basis regardless of whether you invoice. If you are aware of extended periods away from work please contact us and we can discuss our £20 per month dormancy fee.

 

Unique features of the services:



1. Flexibility, control and admin free

You have control over your company affairs without having to do administration, or paperwork. You determine what your expenses will be, and how much dividend and salary you want to pay.


2.    Security

We calculate your tax liability on a pro rata basis so that you are providing for your tax liability correctly on an ongoing basis and not over or under providing. We ensure you are meeting your statutory requirements whilst earning the most income


3.    24/7 online access to company accounts and position

We monitor your bank account on a daily basis, informing you of any receipts or payments that occur so that you are always on top of your company position.  The 24/7 online bookkeeping and accounting software is also an excellent tool for contractors to control and manage their limited company. You have the benefits of accounting software complete with invoicing and expense facility, bank statement and unpaid invoice reports. P & L’s and balance sheets reports with added drill downs and these are updated daily. All historic information such as financial statements, personal tax returns and Vat returns are stored for ease of access to information and tax planning.


4. Transparency

No hidden costs, you get what you ask for.

 


Unique features of the services:

  1. Flexibility, control and admin free

You have control over your company affairs without having to do administration, or paperwork. You determine what your expenses will be, and how much dividend and salary you want to pay.

  1. Security

We calculate your tax liability on a pro rata basis so that you are providing for your tax liability correctly on an ongoing basis and not over or under providing. We ensure you are meeting your statutory requirements whilst earning the most income

3. 24/7 online access to company accounts and position

We monitor your bank account on a daily basis, informing you of any receipts or payments that occur so that you are always on top of your company position.  The 24/7 online bookkeeping and accounting software is also an excellent tool for contractors to control and manage their limited company. You have the benefits of accounting software complete with invoicing and expense facility, bank statement and unpaid invoice reports. P & L’s and balance sheets reports with added drill downs and these are updated daily. All historic information such as financial statements, personal tax returns and Vat returns are stored for ease of access to information and tax planning.

4. Transparency

No hidden costs, you get what you ask for.

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LONDON 1ST

 

LONDON 1ST CHARTERED ACCOUNTANTS & BUSINESS ADVISERS

70 NORTH END ROAD

LONDON

W14 9EP

 

0207 471 9330 | SALES@LONDON-1ST.CO.UK

 

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LONDON 1ST

LONDON 1ST CHARTERED ACCOUNTANTS & BUSINESS ADVISERS

70 NORTH END ROAD

LONDON

W14 9EP

0207 471 9330 | SALES@LONDON-1ST.CO.UK

 

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