The UK’s service sector has seen strong growth in this post industrial era. Recent years, however, have been difficult for those in retail, as the changing face of town centres and internet shopping have presented fresh challenges.
We have identified retail as a sector where we have particular experience and expertise. As specialist retail accountants, our clients will usually be particularly interested in:
- Start-up assistance (incorporation and tax registrations with HMRC),
- Preparation of annual statutory accounts,
- Completion of all relevant tax returns and submission to HMRC.
- Book-keeping (including VAT cash-accounting or one of the retail VAT schemes),
- Company secretarial record keeping and submissions onto the public record at Companies House.
- Management accounting, to constantly monitor performance,
- Advice on whether to trade as a sole trader or limited company.
- Protecting valuable assets and your personal wealth from potential insolvency,
- Pension planning,
- Cash flow management,
- Minimising tax on profits.
Meeting with one of our retail accountants for a free initial consultation should be your starting point. This will enable you to explain your circumstances to us and identify the areas in which you require assistance.
Whitings have looked after our shop business for many years, helping with payroll, VAT and general taxes. They always have an eye on improving the business for the future.