Chartered Tax Advisers & Accountants

Accountancy & Businesses

We understand the importance of making the right decisions from the start.  With M&S’s diverse range of clients, we are ideally placed to use our experience and awareness of developing trends for the benefits of our clients.  No two businesses are the same, so it is essential to find out a client’s objectives.  Our priority is to build strong relationships providing honest answers and practical, integrated solutions.

We provide financial information to aid decision making as well as helping meet the statutory filing requirements.

Our services include:

We advise on the most appropriate structure for new businesses.  Where relevant, we can set up a new Limited Company and deal with all Company Secretarial matters.  We consider the best accounting system to use from the outset and the main tax implications.  This includes including undertaking Remuneration Planning, looking at ways to reward the business owners.

Access to funding can sometimes be available for new businesses, so we have developed strong relationships with the local financial community and enterprise organisation.  This allows us to identify what financial or additional support might be available to assist businesses

Maintaining accounting records and the completion of VAT returns can be a drain on resources with time that could be better spent developing the business.  Our friendly, professional team listen to what the client wants from this service and are able to provide a range of bookkeeping services tailored to specific requirements.

Our offerings vary from a full bookkeeping service and maintenance of day to day accounting records to the provision of Cloud Accounting software and support.  Using this software allows our clients to maintain their own accurate records and prepare meaningful reports with our input when required.

With Cloud Accounting, we provide bookkeeping services to clients based all over the UK.  This service is particularly useful for clients who do not operate from just one location.  

Horror stories of what can go wrong in VAT are all too often true.  Specific sectors such as land and property or partially exempt businesses can involve complex legislation and calculations.  Substantial costs can arise where incorrect assumptions are made or VAT registration deadlines are missed.

At M&S we guide you through the registration maze and how to ensure VAT efficiency in transactions.  Having Jim’s insight from the ICAS indirect Taxes Sub-Committee can prove invaluable. 

We provide a VAT compliance service to ensure returns are submitted correctly and on time.  Many clients incorporate this as part of our Bookkeeping Service.

We offer a comprehensive payroll solution to help our clients ensure that the correct amounts of PAYE and National Insurance Contributions are calculated for each payroll run

Find out more on our Payroll page.

Businesses must plan ahead, however, the pressures involved in running matters on a day to day basis often means planning and development are not given the attention required.  Management accounts and financial projections can be used to see how a business is performing throughout the year and to focus on key objectives.

We offer the following services:

  • Preparation of Management Accounts with reports tailored to a client's business
  • Analytical review of accounts and identification of key performance indicators and benchmarks
  • Financial budgets and forecasting

We get to know and understand our client’s business and are on hand to offer advice either on a regular basis or in relation to particular events or transactions.

We offer all aspects of financial forecasting and get involved with negotiations with banks and key stakeholders to help our clients achieve both their short term and long term goals.

Different business structures have varying requirements, timescales and presentation styles.  Whether it be for a sole trader, limited company, Charity or Not For Profit Organisation, we prepare and deliver annual accounts on time.  Part of this process ensures that the significance of the results are explained to the client and relevant action points identified.

We provide an efficient and reliable tax return completion service, covering the preparation of personal, partnership, corporate and trust tax returns. 

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Through our use of professional software, we provide companies with a reliable service for maintaining the statutory documents and filing deadlines that have to be met under the Companies Act.

For Scottish companies, we can act as the company’s registered office, to ensure that all company documents are dealt with.

We also prepare all paperwork necessary to properly document dividends declared and advise of any changes required to a company’s share structure or Articles and Memorandum of Association.

We advise business owners on ways to extract the maximum amount of cash and benefits from a business in a tax efficient manner.

We continually monitor legislative and regulatory changes, reviewing remuneration structures that are in place to ensure efficiency from a tax perspective where possible.

We also advise on Employee Tax and Incentives, which consider tax efficient ways to remunerate employees where possible.

Exiting a business is an important part in the cycle of any venture.  Strategies can be put in place early in the life of a business and adapted to take account of changes in legislation, economic factors and personal circumstances.  There are, however, situations where decisions have to be made quickly, especially where an offer to buy a business is received.

We provide advice and support at every stage on practical matters as well as detailed technical analysis, taking into consideration all available reliefs and tax planning options.

In this highly technical area we offer support and assistance to trustees to ensure that statutory obligations are met.  We also advise charity trustees on strategies to improve their monitoring of the charity’s activities.

Our wide expertise of the local charity sector means that we offer valuable guidance in this area.