Our UK accounting services team has the local knowledge to deliver work on time, to the highest standard and in accordance with all legal and financial regulations. We reduce your operational costs by removing the burden of recruiting, training, managing and housing a UK dedicated workforce, in turn enabling you to focus your time and energy on maximising revenues and profit.
Statutory and annual accounting
It can be challenging to keep on top of the various statutory reporting requirements and filing deadlines. Our corporate accounting services help clients stay compliant with local accounting legislation and tax rules. Our UK experts are up-to-date and stay on top of the deadlines for you, taking the hassle out of your accounting obligations.
Our statutory reporting services include:
Annual financial statements – We will prepare financial statements (standalone or consolidated) in accordance with local Generally Accepted Accounting Practice (GAAP) or International Financial Reporting Standards (IFRS). Once prepared, we can also manage the audit process through to the signing of the financial statements.
If your consolidated group financial statements require input from multiple countries, we can work in tandem with your head office, via other TMF Group offices or even directly with audit firms to check all consolidation requirements are met.
Tax compliance services – The rules around these taxes can be complex, changing, and different from country to country. Our local experts will manage this compliance, completing and filing your tax returns on time. We can manage both direct tax (annual corporation tax) and indirect tax (monthly/quarterly VAT) compliance services.
EU sales list – If a business is VAT registered in the UK and supplying goods and services to VAT-registered customers in another EU country, HM Revenue & Customs (HMRC) needs to be advised of certain information. Our UK specialists can manage this on your behalf.
Intrastat return – VAT registered businesses that trade in goods with other EU member states are required to provide details of these transactions, which are used for statistical purposes. We can take care of this imposition for you.
We offer an all-encompassing suite of bookkeeping services and tailor our services to meet the specific needs and requirements of each client.
Services include bookkeeping (posting and storage) of source accounting records, raising invoices, credit control, payment management services, monthly or quarterly management reporting, reconciliations and ad hoc reporting.
If you have no specific internal management reporting requirements, we can provide template reports giving relevant information to management. We can tailor reports to your needs, for both standalone entities and group reporting packs.
We can manage all bookkeeping services and reporting on client hosted software/systems, providing web access is available. This enables clients with multiple entities to maintain their records within the same system (as their other group companies), with all records maintained in the same format, making consolidation for group reporting purposes much easier. If access is not available, we can tailor our own system to reflect the third party chart of accounts, enabling us to provide a trial balance which can be integrated into the third party system or third party reporting pack.
Private client accounting
We have a dedicated private client department to handle the UK tax compliance and accounting services for wealthy individuals and their families, trusts, grant making charities, partnerships and investment vehicles. We also provide tax compliance services and related administration for employee share arrangements, non-resident and corporate residential landlords, and investment partnerships.
Do you require personal tax assistance? Does your inbound company reward employees with shares or options? Or are you a non-resident who has acquired some UK residential property?
Here’s how we can help:
Personal tax - The UK team can give you peace of mind by helping you to fully comply with your UK income tax, capital gains tax and inheritance tax obligations, filing online returns using the latest software and informing you of payments to be made. As part of our service, we will identify areas where you may wish to seek tax advice to mitigate your liabilities.
Inbound company with employee share/option reward scheme - We can help you make the required returns to HMRC. We will also liaise with our payroll team to confirm that the correct UK tax deductions are made and reported.
Non-resident with UK residential property - We can enable you to obtain any rental income free of income tax at source, securing some relief for interest on borrowings, and can assist you with your annual UK income tax filing obligations. We can also complete your Annual Tax on Enveloped Dwellings (ATED) returns if required and, when the time comes to sell, your UK capital gains tax returns. For all these taxes, we can inform you of your tax liabilities in advance so you can plan your cash-flow.