Business Accounting

We put the client first and believe in being fair and open in our dealings with you
by giving you advice that is prudent, practical and matched to the resources and needs of your business.

Accountancy support for all kinds of business.

We are an advanced accounting practice with a particular focus on the smaller business. 
 
As well as providing all the usual services you would expect from an accounting firm, such as accounts and tax returns, we will go the extra mile to ensure the success of your business.
 
The aim of the Accountancy Team is to keep your tax affairs up-to-date and prepare meaningful sets of accounts which will help you to understand exactly what the numbers mean for your business. 
 
We can introduce you to “easy to use” accounting software selected on the basis of suitability to your particular business and designed to reduce administration time.

We will work alongside you throughout the years to better understand your business, your goals and help you obtain these by providing proactive and timely advice and by recommending actions to save you time and money.

We will give you transparency as regards to our fees and can work on a fixed fee basis if this is more suitable to you.

We work in the best interests of your business at all times by ensuring you meet your accounting obligations and financial objectives both now and in the future.

We provide a professional, accurate and above all understandable service to our clients.  We carefully analyse the needs of each business when taking on any assignment and provide clear, objective advice when required to do so.

The techniques we employ to ensure your accounting needs are met are to: –

  • maintain reliable and accurate business records
  • the timely reporting of tax liabilities and due dates
  • selecting and implementing financial management tools that meet your business needs in terms of ease of use, budget and value
  • to plan our working requirements to fit around your business priorities

 

With the above in mind we would arrange regular meetings/telephone conferences with you to enable the better understanding of your business and be on hand for any queries you may have.

 

Many accounting firms offer a very simple but limited service. They will prepare your accounts from your accounting records and produce sets of reports to comply with your obligations.

Although this is fine, we believe that you would like a better service.

If you engage Murphy Thompson Moore as your accountants, we will fullfill the accounting needs and build a complete picture of your businesses financial position as we do this.  We’ll also prepare meaningful reports that explain the detail behind the numbers and what this means for the future of your business.

We will discuss the financial progress of your business at regular meetings or telephone conferences.

Your records can be informative about the recent past, but they can also serve as a useful guide to the coming year by helping you pick out trends and prepare for the year ahead.

We can carry out our work for you using cloud accounting software or desktop software. Where we use cloud accounting software, you will be able to log in to your accounting records and work entirely independently of any work we may be doing for you. If you have desktop accounting software we can connect remotely using Remote Desktop or other similar software.

If you are in business you need to keep up to date business records, ensuring you comply with HMRC's requirements. These requirements include ensuring your records up to date by regular maintenance and are never more than three months behind at any time.

At Murphy Thompson Moore we can deal with the maintenance of your records for you.  Alternatively we can assist you with software and training to enable you to undertake this task yourself.   We can tailor our working processes to suite your needs by using either desktop or cloud based accounting software.  For smaller businesses, custom spreadsheets can make your records much more easy to manage.  We can advise as to the best system for your business.

Some clients prefer to concentrate solely on their business and will rely on us to provide a complete bookkeeping and accounting package. We’re very happy to meet this requirement as part of our service which can be incorporated in our fixed fee service.

For VAT registered clients, we can maintain your records as part of our VAT preparation and filing service.

If you wish to discuss how we can help you maintain your business records, please Contact us for a discussion and we will be happy to advise.

If you have employees, you will need to operate payroll. You can do this using a payroll bureau or you can ask us, as your accountants, to do this for you.

Payroll requires regular, efficient calculation of pay due and submission of payment information to HMRC on or before payment is made. The current system required by HMRC is called RTI. This stands for Real Time Information.

An added complexity of employing staff is that you now need to set up a Workplace Pension Scheme.  For many employers this can be a daunting prospect.  Considerable preparation is involved and if you have a “staging date” (which means you have been notified of the date by which you must have a work place pension in place by the Pension Service, you need to act now)

Payroll and set up of work place pensions are best handled by your accountant. There are a number of providers in the market and costs can vary significantly. So can the value of contributions to your employees eventual pension.

We recommend an early discussion with Murphy Thompson Moore so that we can assess your current position, determine if you need a payroll scheme and whether or not you need to have a work place pension.

We can run your payroll efficiently and in line with your normal pay frequencies. Our simple monthly fee covers all pay runs, leavers and joiners and end of year processing.

If you already have a payroll scheme and are considering a transfer, please be reassured that transfer of an existing payroll is handled by our team for you, leaving you free to concentrate on your business.

The profits of your business are subject to tax. The tax you pay will depend on the structure of your business.  For limited companies profits are taxable under the corporation tax system, whereas sole traders and partnerships are dealt with in the self-assessment system.

As a director of a company you will have to file a tax return.

As a client of Murphy Thompson Moore, operating through a limited company, you can expect a service which includes the preparation your accounts, corporation tax return and all tax computation.

As a client of Murphy Thompson Moore, operating as a Partnership, we will prepare the partnership accounts, the partnership tax returns and the individual partners tax returns.

For Sole Traders, we will prepare the Self Assessment tax return.

As part of our service, we will look at your business profits and offer you advice on the most tax efficient way to extract profits from your business. Our advice will be straightforward and in plain English. We do not promote or advocate any tax saving schemes.

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Murphy Thompson Moore LLP
3rd Floor, 82 King Street
Manchester
United Kingdom
M2 4WQ

Trusted by Professionals since ’95.