Lam Simmons & Company Limited

Appropriate accounting systems and reporting will assist you in obtaining the correct information to plan for the future and to help the business grow.

We provide the following services:

- assisting in setting up accounting systems

- preparing annual financial statements

- reporting on financial position

Our payroll services meet the statutory requirements and cover the following areas:

- processing weekly and monthly payroll

- submitting RTI reports to HM Revenue and Customs

- producing payslips, P45 and P60

- providing advice on income tax and national insurance

- calculating student loan deductions, statutory payments and income tax and national insurance liabilities

- setting up and maintaining pension schemes

Incorporated companies are liable to pay corporation tax and to submit corporation tax returns to HM Revenue and Customs. Our services cover the following areas:

- providing tax advice on tax relief and allowance

- computing your company's corporate tax liabilities

- preparing corporate tax returns

- submitting the returns to HM Revenue and Customs

- dealing with HM Revenue and Customs enquiries

HM Revenue and Customs require business owners and individuals to complete annual tax returns in order to assess that their personal taxes are calculated accurately. Our services include:

- summarising your income from all sources

- claiming refunds on your behalf and dealing with HM Revenue and Customs

- using all allowable allowances

- computing your personal tax liabilities

- submitting your return to HM Revenue and Customs

Your company may need to register for VAT because the sales are above the mandatory threshold, or you may prefer to register for VAT on a voluntary basis. Our services cover the following areas:

- assisting you in choosing the appropriate VAT Scheme

- applying for VAT registration

- compiling UK, EU and non EU sales and purchases

- computing input and output VAT

- completing and submitting your company's VAT returns

- attending compliance checks

It is advisable to seek advice when disposing of a capital asset to ensure that you do not lose out on tax relief, exemptions and allowances. Our services include:

- advising on capital gains tax

- identifying allowable claims, exemptions and relief

- setting off all claims and relieves against capital gains

- computing the capital gains tax liabilities

Compiling, valuing and disclosing assets and estates can be a long process. Our services include the following areas:

- advising on inheritance tax

- computing inheritance tax liabilities

- completing and submitting the appropriate forms and disclosures to HM Revenue and Customs

It is advisable to seek advice when disposing of a capital asset to ensure that you do not lose out on tax relief, exemptions and allowances. Our services included:

- advising on capital gains tax

- identifying allowable claims, exemptions and relief

- setting off all claims and reliefs against capital gains

- computing the capital gains tax liabilities

All limited companies have to comply with the statutory requirements of England and Wales. Our services cover:

- completing and submitting mandatory forms to Companies House

- completing and submitting annual accounts to Companies House

- updating and maintaining your company's register

It is essential to keep the financial records up to date in order to provide accurate information to maintain a successful company. Our bookkeeping services cover the following areas:

- processing transaction entries

- maintaining the weekly and monthly nominal ledgers

- calculating periodic profit and loss

- making adjustments for accruals and prepayments

- analysing trends of business performance

Periodic management accounts provide businesses with the critical information for short, medium and long term decision making. They highlight business performance to enable your company to plan for the future and target the growth areas. Our services include:

- producing monthly management accounts

- preparing annual budgets

- analysing variances between actual transactions and budget