Account management gives an essential insight into the heart of the company, how it is operating, where it may be struggling, and even where the next big opportunity may lie. Management accounting is the activity of identifying, analysing, evaluating, and conveying essential financial information to decision-makers, in order to assist them in making the best strategic decisions for the business. We can prepare management accounts on a weekly, monthly, quarterly, bi-annual, or annual basis.
Preparation of Accounts
Your company’s annual accounts, also known as statutory accounts, are prepared at the conclusion of the fiscal year using the company’s financial records. We can support you through this whole process to ensure all procedures are followed in line with HMRC guidelines.Bookkeeping
Bookkeeping is the systematic recording and organisation of a company’s financial activity. It is used to ensure the accuracy of all transactions. Iykons’ specialised bookkeeping team will assist you every step of the way.Financial Projection
A financial forecast is an estimate of a company’s future financial outcomes and is an essential aspect of the annual budget process. Please contact our helpful team to obtain a financial estimate for your company.Self Evaluation
HM Revenue and Customs (HMRC) employs Self Assessments to collect Income Tax. Wages, pensions, and savings are typically taxed automatically. Other income (including COVID-19 grants and support payments) must however, be reported on a tax return by individuals and businesses. But there is a simple solution: By working with IYKONS you can sit back, relax, and allow us to submit your self assessment and ensure that all the correct procedures are followed.VAT
The difference between your sales and purchase invoices is usually the amount of VAT you pay to HM Revenue and Customs (HMRC). Even if invoices have not been paid, you must record this data and pay what you owe to HMRC. IYKONS handles all aspects of VAT accounting.PAYE and CIS
Pay As You Earn (PAYE) is the method by which most employees in any industry pay their taxes and National Insurance. The Construction Industry Scheme (CIS) is an HMRC attempt to reduce tax fraud in the construction industry and protect construction workers from bogus employment. It has been in effect since 1971 and requires contractors to withhold 20% of their subcontractors’ salary to cover tax and National Insurance Contributions. Before beginning any work, contractors and subcontractors must be CIS registered. Every month, Iykons processes thousands of PAYE and CIS payments. Hundreds of clients and thousands of their employees have benefitted from our efficient and professional Iykons PAYE processes.Pension
Our team of experts will explain every detail of the pension system to you. Furthermore, we also assist with establishing NEST or other private pension accounts and saving for the future in a tax-efficient manner.Corporate Income Tax
Corporate tax is a tax on profits made by a limited company. The HMRC does not send you an automatic bill for Corporation Tax. You must instead pay and declare your tax. We help you navigate this complex system smoothly and ensure that you are always tax-ready.MTD – Making Tax Digital
Making Tax Digital is an important component of the government’s goals to make it easier for people and businesses to file their taxes and stay on top of their finances. IYKONS is a leader in the digital accounting revolution. We have been preparing our clients for the MTD changes for years. Don’t hesitate to contact us if you want to be prepared for the MTD. We are eager to assist.Preparation of Accounts
Your company’s annual accounts, also known as statutory accounts, are prepared at the conclusion of the fiscal year using the company’s financial records. You must always transmit copies of the statutory accounts to the following people: All shareholders- People who are able to attend the company’s general meetings
- Companies HM Revenue and Customs (HMRC) as part of your business’s tax return
- You might have different deadlines for submitting your accounts to Companies House and your tax return to HMRC, although you may be able to do so simultaneously. You may be able to submit simpler accounts if your company is small, a micro corporation, or dormant.
Bookkeeping
Bookkeeping is the systematic recording and organisation of a company’s financial activity. It is used to ensure the accuracy of all transactions. Iykons’ specialised bookkeeping team will assist you at every step with unrestricted assistance.Financial Projection
A financial forecast is an estimate of a company’s future financial outcomes, and it is an essential aspect of the annual budget process. So, please contact our helpful team to obtain a financial estimate for your company.Self Evaluation
HM Revenue and Customs (HMRC) employs Self Assessments to collect Income Tax. Wages, pensions, and savings are typically taxed automatically. Other income (including COVID-19 grants and support payments) must, however, be reported on a tax return by individuals and businesses. If you must file a Self Assessment tax return, you can do it after the end of the tax year (5 April). But there is a simple solution: contact IYKONS. So, you could sit back, relax, and watch your SA make its way through the HMRC’s procedures.VAT
The difference between your sales and purchase invoices is usually the amount of VAT you pay HM Revenue and Customs (HMRC). Even if invoices have not been paid, you must record these data and pay money to HMRC. IYKONS handles all aspects of VAT accounting.PAYE and CIS
Pay As You Earn (PAYE) is the method by which most employees in any industry pay their taxes and National Insurance. Payments are computed against earnings and taken from pay. The Construction Industry Scheme (CIS) is an HMRC attempt to reduce tax fraud in the construction industry and protect construction workers from bogus employment. It has been in effect since 1971 and requires contractors to withhold 20% of their subcontractors’ salary to cover tax and National Insurance Contributions. Before beginning any work, contractors and subcontractors must be CIS registered. Every month, Iykons processes thousands of PAYE and CIS payments. Hundreds of clients and thousands of their employees have witnessed our smooth Iykons PAYE processes.Pension
Our team of experts will explain every detail of the pension system to you. Furthermore, we also assist you with establishing NEST or other private pension accounts and saving for the future in a tax-efficient manner.Corporate Income Tax
Corporate tax is a tax on profits made by a limited firm. The HMRC does not send you an automatic bill for Corporation Tax. You must instead pay and declare your tax. We help you navigate this complex system smoothly and ensure that you are always tax-ready.MTD – Making Tax Digital
Making Tax Digital is an important component of the government’s goals to make it easier for people and businesses to file their taxes and stay on top of their finances. HMRC wants to be one of the tax agencies with the most advanced technology in the world. IYKONS is a leader in the digital accounting revolution. We had been preparing our clients for the MTD threat for years. So don’t be afraid to contact us if you want to be prepared for the MTD. We are eager to assist.
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