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Accountancy Services

At the heart of our business is taking care of our clients accountancy needs. It might seem an onerous obligation to some, but to us it’s the lifeblood of a business and we relish the opportunity to checkpoint current thinking and future plans.
Tearle & Carver Limited is not authorised under the Financial Services and Markets Act 2000 but we are able in certain circumstances to offer a limited range of investment services to clients because we are members of the Institute of Chartered Accountants in England and Wales.  We can provide these investment services if they are an incidental part of the professional services we have been engaged to provide.

Self Assessment

2,000 self-assessment tax returns submitted for our clients in 2013 and 0 penalties

Self Assessment compliance is offered by Tearle & Carver as a free service for clients of our annual accounts preparation and filing service.

Self-Assessment tax returns are submitted to HM Revenue & Customs each year before the January 31st deadline (October 31st for postal submissions) in order to declare tax liability.

There are a variety of different circumstances in which it is necessary to register for Self-Assessment, however, if you are a self-employed sole trader, a partner in a business partnership, or a company director then you need to ensure you submit a tax return every year.

Whatever your reason for registering, Tearle & Carver can help make sense of your Self-Assessment. We offer a range of services including:

  • Preparing and filing Self-Assessment returns for individuals (including company directors and their spouses) or partnerships.
  • Preparing tax computations, calculating income and capital gains.
  • Notifying you of your tax liabilities and payment due dates.
  • Checking over any correspondence sent to you by HM Revenue & Customs.
  • Liaising with HMRC on your behalf.
Corporation Tax

Our bespoke software ensures full compliance

Corporation Tax compliance is offered by Tearle & Carver as a free service for clients of our annual accounts preparation and filing service.

Corporation Tax must be paid on any Limited Company’s taxable profits and capital gains.

Since it is up to each company to find out the amount of Corporation Tax they owe, it is crucial that your tax liability is accurately assessed in order to avoid potential penalties.

Tearle & Carver can help ensure your business complies with all its tax requirements through our range of services:

  • Preparing and filing returns such as CT600, which reports Corporation Tax for companies.
  • Preparing tax computations covering corporation taxes and capital gains.
  • Notifying you of your tax liabilities and payment due dates.
  • Checking over any correspondence sent to you by HM Revenue & Customs.
  • Communicating with the tax authorities on your behalf- take advantage of our long standing and excellent agent reputation
HMRC Investigations

Protect against costly HMRC investigations with our free protection insurance.
Click here to find out more about tax investigation insurance.

Figures published in 2014 show that HM Revenue & Customs secured a record £23.9 billion in additional tax revenues over the previous year as a result of investigations.

Although a small number of tax investigations are random, HM Revenue & Customs more commonly investigate when they have grounds to suspect an irregularity in your tax affairs. For individuals and businesses, investigations can be both costly and time consuming.

Tearle & Carver can help provide peace of mind by protecting you against the potential costs and assisting you through the process should you be investigated. We offer a range of services, including:

  • Free Protection Insurance against the cost of investigation.
  • Representing clients in HM Revenue & Customs meetings.
  • Preparing supporting evidence related to your investigation.
  • Negotiating settlements if appropriate.
Annual Accounts

All clients benefit from an annual review – to us it’s more than just the numbers

Annual Accounts offer your company or personal business an overview of its performance across the year.

Tearle & Carver can provide you with a comprehensive picture of your progress, along with insight into how to improve your business. Our Annual Accounts services can include:

  • Full reconciliation with bank statements to ensure your accounts match your bank records
  • Categorisation of expenses to comply with accounting standards
  • Advice on optimising Tax and National Insurance liabilities through salary splits and dividend payments, where relevant.
  • Preparation of final accounts including the provision of a printed set of formal account reports including:
    • Profit and loss (P&L)figures, showing income and expenses over the year
    • Balance sheets to provide a snapshot of your current financial position
    • Dividend Vouchers to note details of dividend payments made applicable only to Limited companies
    • Board Meeting Minutes applicable only to Limited companies
  • Clear explanations to ensure you fully understand and give your approval to all final accounts.
Company Secretarial

We provide a FREE registered address for your business, which helps protect against identity fraud

Although all companies must have a registered office, the easy accessibility of information in the public domain can be problematic if you work from home.

Registering another business office can provide the solution, helping to minimise the risk of identity theft. Identity fraud, in which personal details are obtained and misused, is a serious issue for UK businesses and individuals, representing almost half of all fraud reported to CIFAS (the fraud prevention agency).

Tearle & Carver offer a free registered office as part of our comprehensive company secretarial service, which can include:

  • Preparing the annual Confirmation Statement required by Companies House
  • Dealing with all forms and filings relating to the appointment and resignation of Directors and the issuing of shares
  • Where we act as your registered office, we will also hold your register of members, detailing the names and addresses of shareholders
  • Help draft copies of special resolutions and file with Companies House
  • Organising and minuting board meetings
  • Monitoring statutory requirements


Case Studies

The Tax Man

Minimise the stress of an investigation and make use of our extensive experience in securing best outcome for our clients

Business Valuation in Distress

Take advantage of our impartial and rigorous due diligence procedures

FD in The Cupboard

Our innovative ideas are here to improve your business performance and secure appropriate and cost effective funding

Contact us

For a FREE initial consultation
For a Fixed Fee Quotation

BY POST OR IN PERSON

Chandos House, School Lane Buckingham,
Buckinghamshire MK18 1HD

BY TELEPHONE

01280 823904

BY FAX

01280 822090

BY EMAIL

info@tearlecarver.co.uk

The Tax Man

The Tax Man

A new client was introduced to us via a recommendation with whom we arranged to meet on a regular basis in order to determine a number of changes that we felt were needed to their business structure. The client was at the time operating as a husband and wife partnership. The business was flourishing and had a number of large contracts with big organisations.

At the start of the process they were still heavily immersed in their day to day operations so we can get a full flavour for their ambitions, aspirations and growth plans. We quickly recognised there were sufficient tax savings which can be achieved by changing the structure from a partnership to a corporate entity. We carried out a business valuation and disposed of the goodwill from the old to the new business. Unfortunately, as often is the case with efficient tax planning, HMRC got involved and disputed our valuation.

An HMRC investigation can be a very stressful time for any client, even for those best prepared. However, our client had minimal input in the HMRC communication as we dealt with this professionally behind the scene. As an added benefit, our client could rest on the security that all work was covered by insurance and therefore all costs and time in dealing with this enquiry were covered by the fee protection policy we had put in place.

The initial approach taken by HMRC was very aggressive and they tried to present an argument that there was no goodwill in the business. We challenged HMRC’s view that the goodwill was worthless. After lengthy correspondence and numerous telephone calls, HMRC agreed 100% with our original valuation, which preserved our original tax saving plan for the client. Tax savings on this case where in the region of £75K at the outset, with ongoing savings of £6,000 per annum. We are pleased to add another happy client to our portfolio.

Business Valuation in Distress

Business Valuation in Distress

Selling a business is never an easy process, but when disputes arise, the need for a reliable third party due diligence process is even greater.

Tearle & Carver have extensive understanding of the requirements for remaining objective when managing a potentially difficult company buyout. In one such case, we were approached by the courts to act as independent accountant for an acrimonious business sale in which one partner was exiting the business and selling shares to the other. Given the circumstances, both sides had totally polar views of what their business was worth.

After arranging an initial meeting with the company, we were thorough in ensuring we completed due diligence, validating the figures in the accounting records, carrying out adjustments where appropriate, and drafting a set of reliable management figures within the framework required by the court.

A draft version of the report detailing our findings and conclusions was submitted to both parties, giving them the opportunity to voice any queries or concerns and ensure all relevant factors had been taken into account.

Through this process, we were able to submit a final report to the courts that was both binding and acceptable to both parties, effectively resolving what could otherwise have been a time consuming and costly process for all sides.

FD in The Cupboard

FD in The Cupboard

For smaller companies, it is often not possible or cost effective to pay for a full-time Financial Director.
Many of our clients therefore make use of Tearle & Carver’s extensive expertise to provide the services of an FD as and when required.

In this case, we were approached by the management team of an organisation looking to acquire the existing business via an MBO (Management buy out). Their business plan had proved ineffective for securing funding, and what they needed was financial expertise from someone with a developed understanding of the company’s internal workings.

Tearle & Carver helped deliver the solution our clients were looking through utilising our bank contacts in order to make the MBO viable, while also building a robust business plan and preparing our client for the rigorous vetting process. To help with cash flow issues, we introduced factoring which led to improved cash flow management.

We advised on the appropriate business valuation and structure, and continued to prepare monthly accounts to track profgress once the management were fully in command of all the information they needed to move their business forward.

In order to best assist these clients through the crucial first year of ownership, we attended board meetings on a regular basis, a service that we continue to provide to date.

With our continually developing understanding of their business, this client is able to remain confident that Tearle & Carver can provide any financial support they may need, now and in the future.