Accounting
Accounting
Accounting and Book keeping
- Accurate maintenance of financial records, including ledgers, journals, and cashbooks.
- Management of fixed asset register.
- Monthly payroll processing and preparation of Employer’s Annual returns.
- Completion and submission of VAT returns
- Bank reconciliation
- Preparation of quarterly Management information
- Support on day-to-day accounting matters
Final Accounts & Year-End Reporting
- Preparation of final trial balance and associated accounts information;
- liaising with company auditors; preparation of the financial section of the draft Financial Statements.
Book Keeping
Appropriate bookkeeping is paramount to any business. We will assist you to maintain your business books and records to comply with your statutory obligations.
Our tech-embedded tailor-fit service will ensure compliance. A qualified experienced team will be allocated to deliver the business’s statutory and commercial requirements.
For small businesses, Sawhney Consulting can implement accounting packages such as Sage, Xero, Quick Books, etc. For more specific requirements such as for solicitors, specialized software tailored to their requirements is used. Also, we work along with client using their bespoke software.
Payroll
We ensure that your employees are paid timely and accurately.
- Tailored solutions for diverse businesses
- Expertise in UK tax regulations and compliance
- Accurate processing with attention to detail
- Utilizing advanced software and industry insights
Our comprehensive Payroll services relieve your staff from technical integrity and worries about non-compliance. We provide thorough payroll services considering every aspect of UK salary and wages to make your company fully compliant with the statutory requirements of HM Revenue and Customs. For businesses or businesses employing staff for the first time, we look after your payroll activity and will help you register your business for the PAYE scheme with H M Revenue & Customs.
Services Offered
- PAYE registration and payroll setting up for new companies and start-ups
- Running and processing monthly fortnight, and weekly payroll
- Submission of monthly RTI and Year-end submission of leavers and new joiners with HMRC
- P11 D benefit in kind submission
- Auto Enrolment (Submission to the pension provider) (No advisory)
- Statutory payments (Sick pay, Maternity, etc.)
- Dealing with HMRC for PAYE and NIC
- Salary Pay-slip Generation
- P60 and P45 Generations
- Payroll Queries Resolution
Construction Industry Scheme (CIS)
Int construction industry scheme, it is quite common that there are often tax refunds due to subcontractors as per the CIS schemes. A subcontractor is a person who works for a contractor and the person is not employed by the company, in this situation the subcontractor raises the invoices to his contractors for the work performed. In these circumstances, Sawhney Consulting can assist the company to register with HMRC as contractors and as sub-contractors as required and reclaiming these overpayments with our comprehensive CIS tax return services. Our specialist team of the building and construction industries is able to help to prepare other paperwork needed to keep them HMRC compliant.
- Register The company or individual as a Contractor or subcontractor
- Assign to obtain gross payment status for receiving payment without tax deduction
- Comprehensive CIS tax return services
- Reclaiming the over payments
- CIS control and reconciliation
VAT
Value Added Tax is a vast and complex area of taxation. We explain to you as simply as possible to make you understand and handle the VAT matters carefully. As the VAT is constantly changing subjects, our aim is to comply with all regulatory requirements. Our expert team will make sure that you should pay the right amount to the HMRC and provide appropriate advice to keep your VAT affairs in order and up to date.
Our team of VAT experts is dedicated to simplifying your tax compliance journey through customized Making Tax Digital (MTD) services.
- Registering your business for VAT (where applicable)
- Selecting appropriate VAT schemes and VAT Planning for your business,
- Preparing VAT returns, VAT Reconciliation and submission to the H M R C.
- Advising you on VAT compliance and administration.
- Representing you for the VAT Inquiry with HMRC and at tribunals
Management Accounts, Budgets, and Projections
The core of any successful management is to have reliable business information. The management will require to set budgets, manage business cash flow, and projections for sales and profits. These will be tailored to the business need keeping in mind the key performance indicators of the business.
We at Sawhney Consulting have the expertise to set tailor-made accounting systems to assist our clients to prepare financial management accounts, budgets, and projections to monitor the trading requirement of the business and smooth the continuity of the business.
Annual Statutory Accounts (UK GAAP)
- FRS 101 reduced Disclosure Framework sets out an exemption
- FRS 102 Principal accounting Standard
- FRS 103 Financial reporting requirements and guidance for insurance contracts
- FRS 104 Interim Financial Reporting
- FRS 105 UK Accounting Standards for the Micro entities’ regime.
Annual Statutory Accounts (International Accounting Standards)
We assist clients in ensuring compliance with annual statutory accounting requirements according to UK adopted International Accounting Standards (IASs)/ International Financial Reporting Standards (IFRSS).
Specialized Audits and Assurance
- solicitors holding Client money (Reporting to Solicitors Authority (SRA))
- Estate agents holding client money for reporting to the relevant authorities
- Charities
- Housing Associations
- Funeral Plan Trust
