Our team of certified professionals are dedicated to helping you achieve your business goals through strategic financial management, freeing up your time to focus on your core business operations.
We assist with accurately completing and submitting annual accounts.
We handle the preparation and submission of your company’s tax return.
We assist with navigating tax filing, ensuring accuracy and complying with tax regulations.
We handle the preparation and submission of your VAT returns with precision and compliance.
We provide seamless and efficient management of your company’s payroll processes.
We offer strategic guidance to help minimise your tax liabilities and maximise your tax savings.
We offer thorough financial record-keeping, ensuring accurate and organised data.
Access and track your accounts effortlessly from anywhere, anytime.
We help you take control of your financial planning to optimise your budgeting and cash flow.
Achieving your life goals often hinges on solid business financial planning. Whether you’re buying your first home or envisioning a secure retirement, a personalised financial plan is essential. At Maven, we specialise in crafting tailored plans to align with your goals. With our expertise, you can confidently pursue your dreams while securing your financial future.
We can tailor all of our accounting packages, adjusting the monthly price and services included, to suit your business. We consider the size of your company and the amount of work required to deliver our services, ensuring a tailored package that aligns with your unique requirements. Enquire below for a bespoke quote; we are always transparent with our pricing, with no hidden fees!
Our experts can provide additional strategies beyond regular accounting recommendations. Some of these services include shareholder protection policies, relevant life plans, retirement planning, investment planning, and more. These are all areas that require specialist advice and attention – read more below.
With a wide variety of pension plans available to different people in varying financial situations, it seems difficult to find the one that’s right for your financial situation.
Following an initial consultation through Maven, we can assist you in choosing the right pension plan, and, for business owners, these pension plans can be linked to the business in order to reduce your total payable corporation tax.
Having life insurance in business is a smart choice, ensuring that your business, your assets and the people closest to you are protected for the long run.
At Maven, we assist in ensuring that your life insurance policy is properly implemented and is being fully capitalised on as a tax-deductible expense in order to reduce your payable corporation tax.
Capital allowance is tax relief that can be claimed against your taxable profit. Capital allowances may be claimed on most capital assets purchased, created, acquired, replaced, or refurbished.
At Maven, our capital allowance experts assist you in calculating the value of your capital expenditure and create a HMRC-compliant analysis and report for submission alongside your annual tax returns.
With an estimated £84 billion in unclaimed R&D tax credits in the UK. Small to medium sized businesses are often the last to see tax relief on their expensive projects due to hesitance around making a claim or disbelief at the idea that a claim could even be made.
At Maven, we provide expertise in the R&D legislation and claim process, allowing you to find out every tax year whether you are eligible to make a claim against your corporation tax bill for expensive projects or research undertaken in your business.
Accountants are essential for businesses as they manage various financial tasks, including bookkeeping, tax preparation, and financial reporting. Their role ensures accurate and compliant financial records, providing valuable insights for decision-making. Having an accountant benefits your business by ensuring financial accuracy, compliance with tax laws, and offering insights for growth. It saves time, enhances cost efficiency, aids in strategic planning, and provides financial security, making accountants valuable partners in achieving and maintaining business success.
You should consider getting an Accountant for your business as soon as it begins to operate, especially if you lack expertise in financial matters or find managing your accounts challenging. An accountant can provide valuable guidance from the outset, helping you set up proper accounting systems, manage tax obligations, and ensure financial compliance. Even for smaller businesses, having an accountant can bring numerous benefits, including accurate bookkeeping, tax planning, and strategic financial advice.
Bookkeeping is the process of recording, organising, and managing a company's financial transactions on a day-to-day basis. It involves keeping detailed and accurate records of all financial activities, including sales, purchases, receipts, and payments. The primary goal of bookkeeping is to create a clear and organised financial trail that supports various financial reports and statements. Key tasks in bookkeeping include recording income and expenses, reconciling bank statements, managing accounts payable and accounts receivable, and maintaining a general ledger.
You need to register for VAT when your business's taxable turnover exceeds the current VAT registration threshold; £85,000 over a 12-month period. Once your business reaches or is expected to exceed this threshold, you are obligated to register for VAT with HMRC. It's essential to monitor your turnover regularly and initiate the registration process promptly to comply with VAT regulations and avoid penalties for late registration.
A CT600 is a crucial document for businesses, particularly limited companies subject to corporation tax. It is the Company Tax Return form that companies submit to HMRC to report their taxable profits and calculate the corporation tax owed. The form includes detailed financial information, such as income, expenses, and any tax reliefs or allowances the company is eligible for. Accurate completion of the CT600 is essential for meeting legal obligations and ensuring correct taxation.
Financial statements are comprehensive documents that offer a detailed overview of a company's financial performance and position. The income statement reveals revenues and expenses, indicating the net profit or loss over a specified period. The balance sheet provides a snapshot of assets, liabilities, and shareholders' equity at a specific point in time, showcasing the company's financial standing. Additionally, the cash flow statement outlines how changes in financial activities impact cash and cash equivalents, offering insights into the company's liquidity and ability to meet short-term obligations.
The allowable expenses you can claim depend on your business structure and the nature of your expenditures. In general, businesses can claim expenses that are deemed necessary for the purpose of generating taxable income. Common deductible expenses include costs related to running your business premises, employee salaries, utility bills, office supplies, marketing and advertising expenses, professional fees (such as accountants or legal services), business insurance, and travel expenses for work purposes.
Recording transactions effectively involves documenting all financial activities, utilising a double-entry system to ensure balance, categorising transactions by relevant accounts, and implementing accounting software for efficiency. Each transaction should include the date, details, and supporting documents, with regular bank reconciliations to maintain accuracy.
Double-entry accounting is a fundamental accounting concept that ensures the accuracy and completeness of financial transactions recorded in a company's books. In a double-entry system, every transaction affects at least two accounts, with one account debited and another credited. The total debits must equal the total credits, maintaining the accounting equation's balance. For example, when a business makes a sale, it credits the revenue account and debits the corresponding asset or cash account.
Pension consolidation refers to the process of combining multiple pension plans or accounts into a single, unified pension arrangement. This often involves transferring the accumulated funds from various pension schemes or accounts into a central pension vehicle. The primary goal of pension consolidation is to streamline and simplify an individual's retirement savings, making it more manageable to track and manage. It can involve consolidating workplace pensions, personal pensions, or other retirement savings accounts. Pension consolidation may offer benefits such as reduced administrative complexity, potentially lower fees, and a clearer overview of one's overall retirement savings.
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