We identify each client’s specific bookkeeping needs, and normally
recommend the cloud-based accounting software that best meets those
needs. We then provide on-going support, checking each month and
reporting up-to-date information on the financial position and
profitability after accounting for all taxes accrued, giving the
client advice on how much they can take out of the business.
Where businesses have a small amount of transactions going through
the business, such as freelancers and contract workers, we can
design a spreadsheet basis of reporting to us monthly, and we then
maintain the business records, and provide the monthly reports
regarding profits earned after tax and the amount available to
withdraw from the business.
The pre-commencement planning stage and the early years of trading
can be the most difficult and stressful times for any business
Mabers can help you steer your way through these crucial times by
Advice on setting up in business
Guidance on whether to go limited or not
Help in identifying and sourcing finance requirements
We will then provide on-going support by providing monthly reports
showing financial position and performance, enabling business owners
to make key business decisions based on up- to-date information.
So many new businesses face major cash flow difficulties (often
fatal) in the second year of trading due to failing to identify and
provide for the taxation liability on the first year’s profits.
Mabers incorporate those tax liabilities each month as they accrue.
This enables the business owners to identify and provide for the tax
liabilities and ensure that they have the funds available for when
the taxes fall due. This also provides a basis for possible tax
Mabers will ensure that all business tax compliance issues are dealt
with correctly and that all deadlines are met thus preventing the
imposition of penalties or interest. This includes corporation tax,
income tax, VAT, PAYE & NIC.
Our approach is a proactive one, rather than reactive, and we
communicate regularly with our clients in order to provide:
Advice on the different business structures, such as sole
proprietorships, partnerships and limited companies, and which may
be the best suited for your specific needs.
Monthly advice on the taxes accruing on current profits, informing
the tax liability and the dates when it becomes due for payment.
Advice on how to minimise the tax liabilities.
Advice on the most tax efficient way to extract money from the
Company Secretarial Services
We will ensure that the correct documentation is lodged at Companies
House so that the correct registered office and accounting reference
date are properly recorded. We will also deal with any alterations
to directors or shareholders making sure that the correct
notification is sent to Companies House. We will also prepare the
annual returns for the company within the prescribed time frame.
Please note, however, that the fees quoted do not include any
standard Companies House charges in relation to the submission of
We have a wealth of knowledge, experience, and understanding around
entrepreneurs and the challenges they face. At Mabers we can advise
you on how to better manage your business finances, plan more
effectively for your business, discover better ways of optimising
your business cash flow and leave your tax affairs to us.
For some companies and business owners, entrepreneurs relief may be
available. This form of tax relief applies when you decide to sell
off some or all of your business, saving on your capital gains tax.
This can be an area of business ownership that can get complicated,
due to the many variables which determine whether or not you are
Growing and running a family business presents unique challenges and
requires a considered business approach and a different way of
thinking. A number of family businesses do not survive the
transition to later generations which is why you need specialist
advice and assistance.
Many issues arise when running a family business. As decision-making
processes tend to be more informal and unstructured. There may be
succession dilemmas and shareholder disagreements, all of which can
add to your day to day business problems. Mabers are here to help
you meet these challenges and help you and your family to overcome
the problems you may face.
Freelancers and IR35
We design an excel spreadsheet specific to your company on which you
record your invoices issued (often prepared by the agency or end
client), your bank lodgements and payments, and any private payments
made on behalf of the company together with any mileage claims.
These are designed for ease and speed of completion and you send
these to us at the end of every month.
We will then maintain your company's accounting records by recording
all bank transactions; processing your expenses claims; match the
invoices issued in respect of work done to subsequent payments
received; and the preparation of your quarterly VAT returns if
applicable. We also run the payroll, giving you the best salary
dividend mix to optimise the money taken out of the company.
Based upon the records maintained, we will provide each month, by
e-mail, statements which will clearly show accumulated income; less
accumulated expenses to give a pre-tax profit; a tax provision;
leading to an accumulated net profit after tax; details of dividends
taken leaving the figure for retained profits available to be taken
Our service includes the preparation of year end accounts and their
submission to HMRC along with the corporation tax returns and
Companies House. We will also prepare and submit your personal
self-assessment tax returns.
Where the contract is in the public sector, or within the private
sector but is caught by IR35, we can still provide the same service,
We can produce, on your behalf, an invoice from your company
charging fees for work done based on a timesheet or any other
appropriate documentation. We would then send this to you and/or to
the agency or end client in line with your instructions. The
documentation would be sent by e-mail unless otherwise specified.
Running a payroll has become much more complicated since the HMRC
introduced the Real Time Information (RTI) regulations. Appropriate
software is required, and attention to meeting the time deadlines
for submitting the required documentation to HMRC each week/month is
needed to avoid unnecessary fines and penalties.
We will maintain the company payroll, ensuring RTI compliance, and
supply you with payslips, notifying you of any monthly or quarterly
payment to HMRC, and the preparation of the year end return, P60s,
P14 and P11D if required.
Sub-Contractors working within the CIS
It has been our experience that for those working as sub-contractors
within the CIS and receiving their pay after deduction of tax, the
hardest thing is to keep records. So when they come to collate their
records prior to prepare accounts and submit their self-assessment
tax return, and perhaps claim a tax repayment, they have great
difficulty in finding invoices for, say, loose tools or protective
clothing, and even payslips. Many such workers are so put off by the
task that they delay submitting returns and suffer severe penalties
as a result – even though they have already paid too much tax
Mabers solve this problem by putting in place a simple excel
spreadsheet which the sub-contractor can complete and send in each
month. This is simple, easy and quick to complete and comprises
details of money earned and tax deducted, any business expenses, and
details of business mileage. Thus the sub-contractor spends probably
less than an hour each month, and Mabers then maintain his records
for him, and the year end accounts and tax return are ready for
submission very soon after the end of the tax year with no hardship
on the sub-contractor.
Mabers agree the fee for this with the client at the beginning of
the year, and only collect payment once the repayment has been
received from HMRC. Our fees are not calculated as a percentage of
any repayment. We are not paid on a commission basis!