Audit and Accountancy

It is a requirement of all businesses to produce financial accounts, usually on an annual basis. For Limited Companies, these accounts have to comply with section 226 of the Companies Act 1985 and have to be filed at Companies House. Larger organisations may require an audit, although these regulations are currently under review by the DTI. Whether you require assistance in complying with the many rules and regulations relevant to the form and content of financial accounts, or if your company is statutorily required to have these accounts audited, or maybe both, AMS is able to provide these services for you. In addition, very often we find that we are able to provide constructive advice for the improvement of clients systems and controls as a result of this exercise, which may lead to potential cost savings, improvments to cashflow and an overall enhancement in our clients financial well-being.

Taxation

There are two aspects of taxation that our clients encounter, compliance and planning. We are able to take a proactive and commercial approach to both. In addition, for many of our clients, personal and business taxes are linked. It is therefore vital that we consider all aspects of taxation for our clients, and do not concentrate on any single area that in isolation may be beneficial, but may have an overall detrimental effect. To do this, we constantly monitor changes in legislation. For many individuals, the completion of their self-assessment tax return form is something they are reluctant to tackle. At AMS this exercise is undertaken in such a way that deadlines are met and the chance of penalties being levied by the Inland Revenue are eroded. We are able to inform you of any tax liabilities you may have and when they are due for payment

Business start ups

The choice of a business format and structure is crucial in ensuring that it achieves its ultimate goals. At AMS we can advise you on which type of business entity is most appropriate for any individual circumstances. Of course, it is necessary to consider the tax-implications of any business structure, but this should not be the only consideration. We are able to arrange for any appropriate registrations that you may require, for example Inland Revenue, VAT and PAYE. If you decide to incorporate your business as a limited company, we can arrange for the company to be registered with Companies House. We can assist you with the necessary form filling that goes with the incorporation of a business and also explain the duties and responsibilities of being a company director, and the implications of being a shareholder.

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Forensic Accounting and Litigation Support

This area of investigative work is a speciality of AMS. Typically, this work will involve the quantification of loss of profits connected with an insurance claim, for example as a result of a personal injury. However, previous assignments have included matters such as matrimonial disputes, share valuations, professional negligence claims, contractual disputes, consequential loss, arbitration and fraud. We are able to produce a detailed yet concise report of our findings, suitable for service in court proceedings, which calculates a realistic and objective assessment of quantum. This report will be set out in persuasive terms that can be understood by a person who is not a financial expert. We are also able to review evidence likely to be offered by the opposing side in order to identify weaknesses and to prepare effective counter arguements. At AMS we have experience of attending Court and providing expert witness evidence in support of our clients claim. Time and again we have been successful in obtaining settlements for our clients that were much more favourable than had been originally been thought possible.

Inheritance Tax

One area in which we always seem to be able to provide advice to our clients is Inheritance Tax. Efficient tax planning and the utilisation of the various exemptions available can save our clients substantial sums of taxation. A standard priority is to ensure the full use ot the nil-rate band following death. We are also able to provide assistance with Will drafting

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Book-keeping

All businesses need to maintain accounting records in a manner that allows year end financial accounts to be produced. Obviously, the more detailed these records are, the easier it is to produce financial accounts. For limited companies, there are statutory requirements set out in section 221 of the Companies Act 1985 as to the content of the accounting records that should be maintained. For many businesses, the time spent on the production of the basic accounting records is time not spent concentrating on it's core business activities. At AMS we are able to not only carry out the necessary book-keeping activities your business requires, but also to organise your accounting records in an appropriate manner that will satisfy all Companies Act and Inland Revenue requirements. We can also combine the preparation of your accounting books with the preparation and compilation of you VAT returns.

Company Secretarial

At AMS we are able to ensure that companies and their directors meet the ever-changing requirements of company legislation. In addition to the routine administrative work that goes with running a limited company, such as the filing of accounts and the completion of the annual return, we are also able to provide advice on matters such as company structure, the sale and purchase of shares, the appointment and resignation of director’s etc.

Payroll

As part of our service to clients, we are able to prepare payrolls on their behalf. Based on your instructions, we will calculate each employees’ gross and net pay, provide you with a payslip and compute the amounts due to the Inland Revenue for PAYE and National Insurance. In addition, we can produce all end of year forms, such as P35, P60 and P11D. We can also deal with all the paperwork in relation to new employees and employees leaving.

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