Scope and limitation of our services:
Our services do not include business management. If a transaction appears unusual or out of the ordinary, we will call it to a client’s attention, but we do not take any responsibility in the discovery of any errors, irregularities, or fraud.
ClicBooks will not audit or review financial statements, or any other accounting documents and information provided, in accordance with generally accepted auditing standards.
ClicBooks will not verify the data clients submit for accuracy or completeness. Rather, we will rely on the accuracy and completeness of the documents and information provided to us. Accordingly, ClicBooks cannot be solely relied upon to disclose errors, fraud, or other illegal acts that may exist. However, it may be necessary to ask clients for clarification of some of the information provided, and ClicBooks will inform clients of any material errors, fraud or other illegal acts that come to our attention, unless they are clearly inconsequential.
If an accounting or bookkeeping package includes communication with HMRC on a client’s behalf, this covers standard communications including submissions, payments and notices. Anything outside of the scope of standard communications (including but not limited to additional applications, corrections or complex research) will be billed at ClicBooks’s current hourly bookkeeping rate.
In relation to the annual accounts if included as part of a client’s package, ClicBooks will:
- Undertake a thorough review of client’s records to ensure we have all the documents we need before work commences on preparing the accounts.
- Summarise financial information and reconcile key balances to supporting documentation.
- Undertake a review of unusual costs included in the accounting records.
- Review items that are considered to be tax-sensitive and could result in a tax investigation.
- Put the financial information into the required format for Companies House, if applicable.
- Calculate the company tax liability and complete the corporation tax returns.
- Raise client’s awareness of key issues in the accounts, and advise of business tax liabilities if applicable.
- Provide copies of accounts and business tax returns to client.
- Submit the accounts and business tax returns with appropriate iXBRL tagging to HM Revenue & Customs, if applicable.
- Submit the accounts to registrar to Companies House, if applicable.
- Post opening journals into Xero or relevant accounting software for the following year’s accounts in order to agree opening balances.
- Provide telephone support throughout the year regarding client accounts and routine business tax issues.
- Ensure correspondence received from HM Revenue & Customs agree with ClicBooks’s records.
- Ensure that the information presented to a client is correctly stated based on the information received, and that it conforms with generally accepted accounted standards and tax laws.
- Report to clients on matters of concern and advise on improvements wherever possible.
- Provide additional services where applicable and by mutual agreement.
In relation to self assessment tax returns, ClicBooks will:
- Send a tax return checklist to enable the documentation to be submitted for ClicBooks to prepare client’s self assessment tax return.
- Thorough review of client’s records and correspondence to ask any necessary questions.
- Summarise client’s personal tax information to ensure there is sufficient supporting documentation in case of an enquiry at a later date.
- Calculate client’s tax liability and completion of personal tax return and provide a copy to client for approval.
- Submit return(s) to HM Revenue & Customs and obtain their approval.
- Deal with HM Revenue & Customs repayment notices to ensure the tax return has been processed correctly, where applicable.
- Check correspondence received from HM Revenue & Customs agree with our records and advise you of any discrepancies.
In relation to advisory, ClicBooks is able to provide:
- Financial analysis eg. performance results
- Bespoke reporting
- Tax planning
- Advice on tax treatment eg. I’m working with an overseas supplier
- Finance operational queries and recommendations
- Director Loan Account management
- Optimal earnings/drawings planning
- Accounting structure advice and recommendations
- Advice on effect of new tax law on associated companies
- Treatment of investment
- Capital vs P&L purchase advice
- Capital expenditure advice
- Treatment of employee benefits
- VAT scheme advice
- Incorporations
- Business/company structure advice
- Investor proposals
- Advice on taking on your first employee
- Financial software recommendations and implementation
- In relation to advisory, ClicBooks is not able to provide:
- Foreign Exchange management or advice
- Financial planning eg. pensions and investments advice
- HR related issues
- Mortgage advice
- Marketing or sales related queries
- Business strategy and planning
- Non-financial software advice
- Advice on financial products i.e. savings accounts
- Personal or relationship advice