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Taxation

ABOUT CLIENT

This company is located in London, United Kingdom and belongs to the Electronic Shopping and Mail-Order Houses Industry. Across all of its locations, it generates USD 34,927 in sales annually.

 

CHALLENGES

As a new business and with few employees, the client had a limited set up of accounting with Xero and thus, the client couldn’t keep accounting records with just a few employees. The client hired us to maintain UK bookkeeping as well as payroll setup. We faced challenges setting up a pay run in Xero and needed to perform research and development on calculating the net pay amount.

 

JOURNEY

The client has been working with us for over one year. We have been responsible for keeping records and categorizing the credit card, bank, and bill transactions. We have also been responsible for resolving VAT and filing VAT returns.  To maintain our books, we have made a proper categorization of the expenses. We also maintain payroll and withholding tax records, and run the payroll on time.

 

SOLUTION

We helped them with payroll tax liability issues after discussing with HMRC and NEST customer service over the phone. We reviewed CT-600 for the year 2020 to file their tax returns.

 

RESULTS

After discussing payroll tax liability issues over the phone with HMRC and NEST customer service, we reviewed CT-600 to file their tax returns for 2020. Now, the client is stress-free and can focus on his business, since all the pressure of maintaining book-keeping, VAT liability records, and Payroll is taken away from them. Now, the client is more capable of expanding the business.

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