Services

Click on one of the links for further information regarding any of our services:


We also provide advice & assistance on the following areas:

  • Dealing with all Statutory Documentation including P11D, Annual Returns, CT61's, Company House Paperwork
  • Advice on Pensions, Investments, Mortgages through our associated company Benson Wood Financial Services Ltd and our resident IFA.
  • Fully comprehensive Consultancy Services through Benwood Consultancy Limited.
  • Credit Control Bureau


Business Start up Programs [top]

Most people who start up in business do so because they have a good business proposition and the enterprise and commitment to see it through, not because they are experts in the legal, financial, and fiscal aspects of running a business.

Indeed, these matters can often seem daunting, and even off-putting, to the budding entrepreneur. The good news is that you do not need to be an expert in these fields to succeed in business. All you need is the support of a team of trained experts.

We can offer comprehensive advice and assistance with: -

  • Company & Business Formations – Sole trader / Partnerships / Limited Companies & LLP’s
  • Business Planning & Banking arrangements
  • Provision of software/hardware systems & associated training
  • Financial Forecasts
  • Grants
  • Control & Guidance, Management Accounts
  • Regular Reviews & Reporting
  • General Business Advice - Annual Accounts, Audit, Tax etc
  • Liasing with all statutory authorities – Inland Revenue / Customs & Excise / Companies House
  • Tax Planning
  • Bookkeeping requirements

For assistance with any of the above or associated matters please do not hesitate to contact either Peter or Graham for a free initial consultation.

 

Preparation of Accounts for Sole Traders/Partnerships & Ltd Companies [top]

All businessmen will be aware of the need to prepare annual accounts to meet the requirements of the Inland Revenue, Bank Managers and other regulatory institutions.

Whether a Sole Trader, Partnership or Limited Company there is always the need to have accurate, timely information for decision making in addition to fulfilling statutory obligations.

We pride ourselves on the early production of accounts, usually within two to three months of the year-end date.

This function forms part of our core services and our investment in sophisticated accounting software enables the accounts to be produced in a timely and extremely economic manner.

We aim to give all business clients assistance and advice in the most efficient way of maintaining their accounting systems, whether they be manual or computerised.

Continued close contact with our clients throughout the year, and pre year-end health checks mean that we are able to offer proactive taxation advice which provides details of impending personal/corporate taxation liabilities many months in advance.

 

Preparation of Grant Claims [top]

Our experience in dealing with sourcing and negotiating grant claims is substantial. We can guide clients through the various sources of outside funding available from Europe , Government and Local Authorities etc.

Our work will typically include the following:-

  • Discussing the proposed project in detail.
  • Drafting out a summary of the project detailing the expected activities, job creation and capital expenditure programmes.
  • Researching the available potential grant and advising on those which are most appropriate. Completing the application forms for client approval before submission to the necessary authority.
  • Liasing with the grant offices to negotiate the final terms of the grant offer.
  • Once the project is under way, completing and submitting the appropriate certification to obtain payments on account and final instalments of the appropriate grants.

 

Preparation of Management Accounts [top]

Many businesses need support with their internal accounting operations and realise that it makes commercial and financial sense to out-source all or some of these activities. Our aim is to maximise the time available for all business clients to earn money and minimise the time spent on administrative matters. All our bookkeeping and management accounting services are tailored to specific requirements making them both efficient and cost-effective.

Services include: -

  • Advising on which are the most appropriate computerised accounting systems for their particular business.
  • Installing and training staff to high levels of competency.
  • Arranging the structure of the reports so that they are customised to each individual business.
  • Once these systems are properly established our involvement can take the form of reviewing, checking and correcting existing reports prepared by clients in-house staff or alternatively, we can prepare them ourselves from basic book-keeping information.
  • The intention is that the management reports and accounts build, over the course of the year, to be a very close reflection of your final year-end published accounts prepared by us as the outside accountants.
  • These are essential management tools to enable you to budget the year to date profitability of the business, cash flows and identify separate profit centres. The management reports also enable you to provide accurate, ongoing information to outside lenders such as bankers etc, for further support for finance in expansionary times.

 

Audits of Limited Companies [top]

Current legislation requires that limited companies with an annual turnover in excess of £5.6m require a statutory audit. Not only are audits the cornerstone to financial reporting, they also provide valuable and reliable information on which important decisions can be made. We believe that we can transform what has traditionally been looked upon as a necessary evil into a profit centre by not only undertaking all of the statutory work to a high professional standard but also by tailoring our work to identify areas where added value may be provided such as: -

  • Improvements in systems
  • Staff utilisation
  • Product costings etc

The work involved in undertaking the statutory audit would typically include:

  • A pre-audit planning meeting at the client's premises
  • Undertaking the audit at a time convenient to the client, either at their premises or within our own offices
  • Preparation of the accounts in the statutory format and discussing them in detail with the Directors/Shareholders
  • The provision to management of letters of assurance together with recommendations for the future.

We always endeavour to ensure that the audit work undertaken by our practice provides a positive contribution to the clients' business and is carried out efficiently and cost-effectively.

Types of audit that we undertake are:

  • Statutory audits of UK Limited Companies
  • Statutory audits of UK based subsidiaries of overseas companies
  • Reports for regulatory bodies such as the Law Society
  • Specialist audits e.g. Pension Schemes

 

Company Formations [top]

We are pleased to announce the availability of our on-line Company Search facility.

We can access, INSTANTLY, any information presently filed at Companies House for any Company in the UK .

If you would like some information on your own or any other Company, please speak to one of the Partners or Kelly Watts.

Prices are (Net):

  • Full Company Search (Including last filed Accounts) £20 plus VAT
  • Standard Company Search (as above but excluding filed Accounts) £18 plus VAT
  • Liquidation/Receivership Search £10 plus VAT
  • Copies of certain documents (E.g., last filed Accounts, Annual Return, Memorandum & Articles of Association, Mortgage Registration) £12 plus VAT
  • Each additional document £ 2 plus VAT


Self-Assessment [top]

"Beat the Deadlines and Avoid the Fines"

The term 'self assessment' is proving to be one of the great misnomers of all time. Many taxpayers struggle to understand the complex tax returns and complete them correctly. In the first year of the regime alone, 775,000 taxpayers received £100 penalties for failing to submit their returns on time, and some 400,000 incurred further penalties because their returns were still outstanding six months later!

The constant stream of changes to tax legislation means not only that the returns are becoming even more difficult to understand but also that taxpayers risk incurring more penalties through failing to complete their returns on time or correctly.

At Benson Wood we save our clients a lot of time, worry, and money by handling all aspects of self-assessment. We do all the necessary computations, complete the return, and even offer advice on how to minimise tax liabilities


VAT/PAYE Bureau Services [top]

Through Benwood Cleveland Limited we have established a dedicated payroll and VAT bureau, acting for in excess of 100 clients. Our friendly staff are experts in these potentially complex areas, where attention to changes in legislation is paramount. Our extensive range of services includes :

  • Fully computerised payrolls and payslips tailored to your requirements
  • All Working Families Tax Credit calculations from 5 April 2000
    payments made by cash, cheque or automatic BACS transfers and Bank Giro
    statutory sick and maternity pay
  • All your Inland Revenue documentation and liaison
  • VAT computations and documentation to H M Customs & Excise

If you would like further details with regard to this service please contact Mrs Olwen Cossavella or Janette Morgan


Sage Accounting and Payroll Software [top]

Sage is the UK 's leading supplier of accounting and payroll software.

Benson Wood employs staff who are fully trained in the installation and use of Sage and therefore can offer our clients the following services:-

  • Business evaluation to establish which package would be right for you
  • Purchase of software package(s), via our "Accountants Club" at special discounted rates
  • Installation of your software
  • Tailoring of the package(s) to your specific requirements
  • Entering all opening balances and set up of all ledger accounts
  • Training and guidance on how to use the system and its capabilities
  • You would be entitled to use the Sage Software Helpline, via our "Accountants Club"
  • Reference notes and users guide
  • All the above can be done for a fixed quote given at your initial meeting.

If you would like further information or to see a specific package in use, please contact either Effie Brooks or Amanda Cartwright.


IRPC [top]

The IRPC Group Limited, is the UK 's most experienced provider of guaranteed advice on Personnel, Health and Safety and Commercial Legal matters.

Benson Wood are aware of the threats that face our clients from the Tax and VAT authorities and as such we have formed an alliance with IRPC to provide you with protection against the many pitfalls that can trouble you from the authorities.

Why Does Your Business Need Protection?

You need to have protection against random investigations by the Inland Revenue or H M Customs & Excise

In the event of an investigation professional and legal fees mount up sometimes beyond the amount that was being investigated originally

We have recognised the highly effective way in which IRPC work to alleviate these worries and by entering into their "Fee Protection Scheme" your mind can be completely put at rest for a very small annual premium.

This means access to expert help whilst all fees are paid out for you.

 

Financial Forecasting [top]

We can provide assistance with or undertake on your behalf:

  • Profit, cash flow and taxation projections
  • Business plans and financial forecasts
  • Spreadsheet modelling of business
  • Devising and monitoring performance targets, budgets etc.
  • Project or asset profitability forecasts, payback and decision making exercises
  • Forecasting of working capital requirements

 

Raising Finance [top]

We can help with:

  • Identifying suitable types of finance and negotiating on your behalf
  • Preparation of financial proposals, sensitivity analysis, contingency plans etc.
  • Where available, grant applications and certification

 

Company Valuations [top]

We have established procedures and resources to provide share or business valuations, which may be needed for a number of reasons:

  • In contemplation of a purchase or sale
  • Corporate reorganisations
  • Planning of corporate or personal taxation affairs
  • Negotiations with tax authorities
  • Shareholder disputes

 

Taxation Advice and Planning [top]

Taxation is central to many aspects of the professional services we provide. We can offer advice on a full range of taxation matters including: -

  • Maximising tax reliefs
  • Tax-efficient remuneration packages
  • Compliance with self assessment regime
  • Pension provision analysis
  • Distribution of income within a family
  • Partnership and corporate tax structures
  • Acquisitions and mergers
  • Property transactions
  • Value Added Tax
  • National Insurance
  • Inland Revenue enquiries and investigations
  • Tax planning for retirement
  • Tax planning for succession
  • Inheritance and capital gains tax planning
  • PAYE and NIC compliance

 

Acquisitions, Mergers, Disposals, Management Buy Outs/Ins [top]

Once a potential deal, whether purchase or sale, has been identified, we can assist with:

  • Negotiations
  • Co-ordinating the process
  • Preliminary and ongoing financial procedures
  • Due diligence and evaluation procedures
  • Calculating share valuations
  • Advising on proposals and warranties
  • Tax planning
  • Fund raising
  • Recognising and limiting risks

 

Due Diligence [top]

Confirming the main financial and commercial facts of a target company is very important and we strongly recommend that a due diligence investigation is carried out in every acquisition deal

If you require any further information on any of the above services then please do no hesitate to contact us via our Company Data or directly over the Internet by filling in our Feedback Form

Benson Wood are committed to providing a comprehensive First Class Professional service to all our clients, removing the hassles and strains of business life. We pride ourselves on our service levels which put us far ahead of our competition. To ensure confidence and peace of mind whatever the situation we offer published service commitments with the support of a money back guarantee.