Check the cost of another employee
Compare expected sales with wages, employer costs and the other bills the business needs to pay.
Mansfield
Accountants in Mansfield for companies and sole traders
We prepare accounts and tax returns for companies and sole traders in Mansfield. Our Chartered Management Accountants can also help with bookkeeping, VAT, payroll and decisions about profit, cash and tax.
Accounts and tax for your business
If you run a limited company, we prepare the annual accounts and Corporation Tax return and review how you pay yourself. For sole traders, we prepare the business accounts and Self Assessment return, including the expenses and allowances you can claim.
We can take care of your VAT returns and payroll as part of your agreed service. We confirm which returns we file and what we need from you before each deadline.
Management accounts for Mansfield businesses
You may be planning to take on an employee, buy equipment or pay yourself a dividend. We can prepare management accounts to help you check what the company can afford and how those decisions affect profit and cash.
We agree the reports you need, who keeps the bookkeeping up to date and how often we review the figures. Your fixed fee covers the work set out in your proposal.
See a worked management-accounts exampleSee which work earns a profit
Compare income with labour, materials and other direct costs so you can review prices or spending.
Plan for payments ahead
Use a cash forecast to discuss customer payment dates, supplier bills and tax due. We agree the forecast and reporting schedule with you.
Self Assessment help in Mansfield
If you need a personal tax return, we check the income, expenses and reliefs relevant to you, prepare the return for your approval and explain the tax due and payment dates.
Tell us about your business income, rent, employment, dividends and any other income or gains that may need reporting. We can also check whether payments towards your next tax bill are due.
Our sole trader accountants cover business accounts and tax returns. For rental income, see our landlord tax service. The Self Assessment guides explain records, deadlines and payments.
Ask about your tax return
Keeping your records up to date
Bookkeeping support in Mansfield
Bring us details of the software or records you use and the last period you have finished. We can agree to handle the regular bookkeeping or check the records you prepare yourself. Our bookkeeping service covers bank reconciliation, sales and purchase records, and questions about missing or unclear transactions.
If the books have fallen behind, we first establish which months need attention and whether a VAT or accounts deadline is approaching. We assess the records available and agree the work and fee needed to bring them up to date before starting.
For ongoing work, we agree who supplies receipts, how often we update the records and when you need to answer queries. We can also discuss VAT returns, payroll and management accounts so each part of the service has a clear owner and deadline.
Accounting for Mansfield trades and construction businesses
For construction businesses, we also handle Construction Industry Scheme (CIS) returns and deductions, VAT reverse-charge treatment and reports on labour and material costs.
CIS and VAT reverse charge
Our CIS accounting service can include subcontractor verification, monthly returns and reconciling deductions received. We also check when the construction VAT reverse charge applies and how to record those transactions.
Management accounts for trades businesses
We can compare sales with labour and material costs to show how much each job earns. Where your records support project reporting, we agree the figures you need and review changes in costs with you.
Companies House identity verification
As an Authorised Corporate Service Provider, we handle the mandatory director identity checks and report completed verifications to Companies House. You still need to provide the details and identity evidence required for the check.
Returns and deadlines
Know which returns we will handle.
CIMA Chartered
Your accounts, tax, VAT and payroll deadlines depend on how your business trades. We confirm the returns included in your service and when you need to send us the records. For construction businesses, we also discuss CIS responsibilities and payment status.
Checking your gross payment status
Gross payment status allows eligible construction subcontractors to receive payments without CIS deductions. HMRC reviews whether you continue to meet its conditions. We can check outstanding returns and payments and help you respond to a review or notice from HMRC.
Agreeing the work and fee
We set out the accounts, Corporation Tax, payroll and other work you need, with a fixed fee agreed in writing before we start. If your needs change, we discuss the extra work and agree any fee change first.
Changing accountant
Switching accountants in Mansfield
You can change accountants for your company accounts, Self Assessment or regular bookkeeping. We agree when responsibility passes to us so you know who is dealing with each deadline.
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Step 1
Agree the work and handover date
Tell us your next deadline and what is already being prepared. We confirm the work, fixed fee and who will finish each outstanding return.
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Step 2
Transfer the records and permissions
With your permission, we request professional clearance and records from your current accountant, arrange HMRC authorisation and complete identity checks.
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Step 3
Confirm the first returns and reports
We check the information received, identify anything missing and confirm what you need to send us for the next filing or management report.
Additional checks for construction businesses and software transfers
Checking CIS returns already submitted
If you pay subcontractors, we need details of their verification, the payments made and the monthly CIS returns already submitted. We check where the previous accountant finished and agree who files the next return.
If customers deduct CIS from payments to you, we also need their deduction statements. Limited companies report deductions through the employer payment summary; sole traders claim them through Self Assessment. We reconcile the records before making the relevant claim.
Passing on HMRC correspondence
Please include any HMRC letters about gross payment status, overdue returns or payments with the handover records. An open review needs attention alongside the next routine filing.
We establish what has already been sent to HMRC, whether a response is still needed and the relevant deadline. We then agree any work required to deal with it.
Checking construction VAT treatment
The construction VAT reverse charge makes the customer account for VAT on qualifying supplies. We check the type of work, the customer's status and any written end-user notification before deciding the treatment.
If invoice wording or software settings need correcting, we explain the issue and agree the changes. We also check whether earlier returns need attention.
Arranging access to your records
We check your software, the records it holds and who controls the subscription. If a change is needed, we agree how to transfer the data and retain access to earlier records. Our handover checklist sets out the information to discuss.
With your permission, we request professional clearance from your current accountant, arrange HMRC authorisation and complete identity checks. If you are also considering a limited company, we discuss that decision and any formation work separately.
Common questions
How do you help with a CIS tax refund?
I'm a sole trader. Can you help me with incorporation?
How do you agree the work and fee?
How does the construction VAT reverse charge work?
Can you help with accounts for a manufacturing business?
Frequently asked questions
How do you help with a CIS tax refund?
For limited companies, we reconcile CIS deductions through payroll Employer Payment Summaries and check the remaining credit after the tax year ends for a repayment claim. Sole traders and individual partners claim through Self Assessment. HMRC checks the claim and any other tax owed before paying a refund.
I'm a sole trader. Can you help me with incorporation?
Yes. We compare the tax and administration of a limited company with remaining a sole trader, using your profit and the money you need to take out. If you decide to incorporate, we agree the company formation and the changes needed to your accounts, VAT and any CIS registrations before starting that work.
How do you agree the work and fee?
We discuss the records you keep, the returns you need and any advice or reporting you want. We then confirm the work and fixed fee in writing before starting. If your needs change, we agree any additional work and fee with you first.
How does the construction VAT reverse charge work?
For qualifying construction supplies, the customer accounts for VAT instead of paying it to the supplier. The rules depend on VAT and CIS status, the work supplied and any relevant exception, such as a written end-user notification. We check those details and the software treatment as part of the VAT work we agree with you.
Can you help with accounts for a manufacturing business?
Yes. We can discuss annual accounts and tax, along with reports on sales, production costs and stock. We first check how you record those figures, then agree the reporting you need to understand margins and plan spending.
Initial consultation
Talk to us about your accounts
Tell us how your business trades, which records you keep and what help you need. We will explain the next steps and confirm the work and fixed fee in writing.
Book your initial consultationFor support across South Yorkshire, see our Sheffield accountants. View all locations.
Oak House, Samuel Brunts Way, Mansfield, NG18 2AH