grow breathe mature


Your Accounts and the Law

  • There are many different records that have to be kept by a business - VAT, PAYE, accounting records of sales and purchases - to name but a few. If your records are inadequate in any of these areas, you could fall foul of the law.
  • All businesses have to submit accounts to the tax authorities. All limited companies and limited liability partnerships also have to file annual accounts with the Registrar of Companies which follow specific guidelines.
  • We can inform you of which records you are required to keep, help you to keep them properly and ensure that they are filed with the relevant authorities at the right time.

Keeping informed

  • It is important for your business to have a properly designed management information system which will enable you to identify and keep track of profits and losses. You will need to prepare this information more regularly than once a year in the annual accounts, probably quarterly, monthly or even weekly.
  • There is a wide variety of cost-effective computers and accounting programs which can produce most of the accounting and management information needed to run a business.
  • Juler Tooke Accountants are able to advise on the suitability of a system for your particular business and to ensure that proper audit controls are provided.

Planning for success

  • We have the professional experience to examine your business ideas and evaluate profit potential. We can also help you work on break-even analysis, business ratios, budgets, etc, which can be used to set realistic financial targets. You will then be able to plan ahead and compare forecast figures with actual results.
  • The way your business is financed has an important effect on profitability, especially when interest rates are high. Should new capital equipment be leased or purchased? Should money be raised by share capital, loans or overdraft? What are the tax implications? Can any spare cash be invested temporarily? All these considerations affect working capital requirements, the cost of financing the business and, of course, profits. Obviously not decisions you should make without professional help.

Buying, selling or merging


  • The difficulty in purchasing a business is knowing how much to pay since there is rarely a market comparison available. Even when a public company is for sale, the quoted share price may not reflect the real worth of the business. Thus, it is advisable to get expert advice on valuation and negotiation from accountants such as ourselves.


  • You may wish to sell part or the whole of your own business. You will have to put a value on the business and, of course, find a suitable buyer. Here again, we can help by assessing the value of goodwill and assets and, perhaps, by introducing potential purchasers.


  • Merging with another business can involve complicated financial negotiation. There may be a transfer of shares or a cash adjustment between the parties and there will probably be a lengthy legal agreement which will need examination from a financial viewpoint. The tax and accounting calculations can sometimes be extremely complex and usually require expert knowledge.

Management Buyout

  • The raising of finance for a 'management buyout' may involve complicated loan arrangements between the company and the new shareholders. The tax implications also need careful appraisal.

Minimising business tax

  • The dates chosen for starting or ending a business and for its accounting year end can make an important difference to the tax position and cash flow. Similarly, the timing of important transactions or purchases of capital equipment can have a significant effect. It pays to consult our experts before committing yourself to a decision on timing, since you may be able to save tax or delay the payment of tax.
  • Most expenses of running a business are tax deductible but there are exceptions. we can help to ensure that all legally available tax allowances have been claimed and also to achieve maximum benefit from the timing of capital allowance claims.
  • The tax implications should always be considered when investing in new equipment, buying a new car or undertaking any other major expenditure. Depending on circumstances, the best approach might be outright purchase, loan finance, hire purchase or leasing contract.
  • Dividing a company's operations into subsidiary companies or branches may provide tax advantages, as may the formation of a company by a sole trader whose business is expanding rapidly.
  • Trading or setting up overseas brings its own problems which can sometimes be extremely complex. To assess the tax advantages and disadvantages of overseas operations, you need to get our expert advice.

Agreeing tax liabilities

  • Filling in tax forms can be complicated. Whatever the tax assessment involved - income tax, corporation tax, VAT, etc, we can help to collate the necessary information and prepare the return on your behalf.
  • Where there is a dispute over a tax liability, we can handle the negotiations with the Inland Revenue or Customs & Excise on your behalf, even to the extent of appealing to the Commissioners if necessary.
  • Some businesses have trouble sorting out transactions which are VAT-able and those which are exempt or zero-rated. We can help you to understand the rules governing VAT and also advise on the type of invoicing and bookkeeping required for Customs & Excise purposes.
  • A tax liability may depend on the taxable value of a benefit received or an asset transferred. In such cases, the professional opinion of our experts can help you to agree a value with the tax authorities.
  • If too much tax has been paid in the past, it may be reclaimed in certain circumstances. Typical examples of overpayments include a non-taxpayer's investment income being taxed at source, incorrect PAYE coding or the omission of allowable expenses from a tax return.
  • Individuals must now make their own assessment regarding personal taxation. We can help you to understand income tax rules and make sure you are fully aware of the implementation timetable.

Personal tax planning

  • There are many ways to reduce income tax liability, apart from the obvious one of claiming all allowable expenses. For example, you may consider choosing different forms of borrowing or investment, taking advantage of the tax relief available on personal pension plans, changing the timing of visits abroad or even moving abroad to achieve non-resident status.
  • Most transfers of assets are now free from inheritance tax provided the donor survives for seven years after the transfer. However, this tax is extremely complex and needs careful planning. As accountants we are well qualified to provide expert advice on the subject.
  • If a profit results from selling an asset which is not part of the trading stock of a business, there may be a capital gains tax liability. If a business is run from home, the exemption from CGT which private houses normally have could be prejudiced if you seek income tax relief on part of the running cost of the house. It is important to get advice.