Our services

Company formations

Arora & Co will form your company, which entails registering your chosen name, completing the first minutes of the company, appointing director(s) and the company secretary and issuing the share certificates to your shareholders. Included within the formation documents will be the Memorandum and Articles of Association, which sets out the company's name, the location of the Registered Office (in England and Wales or Scotland), its principal activities (to carry on business as a general commercial company unless we have been advised of any specific objects) and the rules for the running of the company's internal affairs.

Registered office

Every company must have a Registered Office at which statutory records should be kept and maintained. The address must be displayed on all business letterheads and order forms of the company. The Registered Office address need not be the company's place of business, and is often the address of a company that provides company secretarial services such as Arora & Co or a solicitor.

Official documents, such as documents from a court, are normally served on a company at its Registered Office, as well as official correspondence from HM Revenue & Customs and the Registrar of Companies.

Our Annual Registered Office fee includes:

Maintaining Statutory Records in both computerised form and hard copy registers.
b) Making these records available for inspection by the general public (in accordance with the Companies Act).
c) Reviewing correspondence received in our capacity as Registered Office and discussing with you.

Completion of Annual Return

Every company director and secretary has a personal responsibility to ensure that statutory documents such as Annual Returns are delivered to the Registrar as and when required by the Companies Act. Failure to deliver documents on time is a criminal offence. On conviction, a director or secretary could end up with a criminal record and a fine of up to £5,000 for each offence.

For all Registered Office clients, we assist the directors and secretary by preparing the Annual Return ready for the director's or secretary's signature and onward submission to Companies House, ensuring that their personal responsibility in this matter is fulfilled

Offering a level of professional competence rarely found in the bookkeeping functions of accounting practices and almost impossible to achieve with in-house or part-time specialists, we uses VT software to provide you with reliable, real-time, accessible input and financial reporting.

With accurate information available to you precisely when you need it, you are equipped to make financially sound, strategic decisions in line with your business objectives.

Our bookkeeping team are able to fulfil all functions of an in-house Finance department, including presenting end of year accounts to stakeholders, producing monthly financial reports and attending regular management meetings.

Bookkeeping

Maintenance of nominal ledgers to trial balance; maintenance of purchase ledger; sales ledger; cash books; fixed asset register; drawing cheques on a weekly basis in accordance with payment terms or instructions of the client; monthly payroll and preparation of Employer’s Annual returns; completion and submission of VAT returns.

Preparation of Management Information Monthly cash projections; monthly report showing actual figures to date; quarterly Projected v Budget income and expense comparisons (if Budget figures are available).

Final Accounts & Year-End Reporting
Preparation of final trial balance and associated accounts information; liaising with company auditors; preparation of the financial section of the draft Financial Statements.

Auditing

The need for increased financial transparency has never been greater and, where once auditing was a simple annual obligation, used wisely it presents the opportunity for independent and expert appraisal of your business providing invaluable strategic direction.

We have unsurpassed expertise and experience in the audit service requirements of owner-managed and SME businesses.

Understanding the singular needs of these kinds of organisations, we are well versed in scrutinising the full breadth of these operations. Through careful examination and with a focus on understanding the transaction cycles influencing your business, we are able to gain a thorough knowledge of its structure, markets, key opportunities and risks, and advise you accordingly.

Closely monitoring your internal financial controls we are able to offer advice on improving processes and best practice, managing and mitigating risk and planning proactively for the future.

Believing that this quality of involvement can only be achieved through direct partnership, our aim is to build strong, long-term relationships with each of our clients.

The selection and ongoing training of our people, together with the application of high standards of quality control, ensures that we deliver experienced, highly skilled individuals to all of our clients, all of the time.

Our company, The Corporate Practice Limited is registered by The Institute of Chartered Accountants in England and Wales to carry out audit work in the UK and Ireland.

Succession Planning

Succession planning is an important undertaking, with enormous and far-reaching implications for the financial well being of not only the business and the exiting principals, but also for the owner or management team taking over the concern.

Our specialist team members with extensive track records in strategy formulation will work with you to devise a path, which will lead you and your company into the future successfully, and provide long-term security for all parties. Through careful auditing, using up to the minute tools, we are able to trap the information and data you need to make better informed, intelligent decisions regarding the future of your business.

Whatever the current stage of your business, and whatever your own current life-stage or plans, it is prudent to discuss possible succession scenarios with us so that we can work proactively to ensure the future of the business and the greatest possible rewards for your endeavours.

Industry Expertise

While our Audit and Assurance experience extends across a very wide client base, we have particular expertise in the following industries:

Payroll

Using the latest systems, our highly qualified payroll services team provides a practical, affordable solution for all your payroll outsourcing requirements, whatever the size of your business. Our comprehensive payroll service includes: all manner of payment and deductions including, but not limited to: hourly wages, salaries, weekly, fortnightly, monthly and annual payments, bonuses, SSP, SMP, Pensions etc.

Advantages of Using Our Payroll Services

No need to invest in specialist software or trained staff

Payroll always run on time - weekly, fortnightly or monthly

Accurate payroll financial information given with full PAYE and National Insurance breakdown

Highly qualified and experienced staff with specialist expertise

UK - wide service

Guaranteed accurate, timely payroll with pre-agreed deadlines met

Flexible, friendly and personal approach tailored to your needs

Taxation

For any company or individual wishing to provide maximum protection for their wealth, taxation must be regarded as a vital strategic issue. Against a backdrop of increasing rules and regulations, it is important for both companies and private individuals to know that careful consideration and planning is being given to their tax position on an ongoing basis.

Our qualified Taxation service team possesses unsurpassed experience, with understanding and specialist skills to limit the exposure which you or your company face. Select from the below which applies to you.

We offer circumspect and imaginative advice designed to help your company meet with its compliance obligations and to plan effectively for the minimisation of its liability.

We do this through the implementation of responsible minimisation strategies capable of increasing competitive advantage and bringing about real business benefit.

Through the use of up-to-the-minute tools, astute planning, early intervention and proactive continuous monitoring we aim to ensure that your tax obligation switches from being an operating cost to being an opportunity.

Personal Tax Returns

DON'T BE LATE!

You may need to complete a Personal Tax Return because:-

 a) you have income which is not taxed at source
 b) you are liable to higher rates of income tax
 c) you are self employed
 d) you are a company director.

Under the self-assessment system it is your responsibility to accurately complete and submit a Return to the HMRC on time.  As well as incurring an automatic penalty for submitting it late, your chances of an enquiry into your affairs is greatly increased.   It can be an onerous task to ensure your Return is compliant with all relevant legislation.

In addition to the compliance issue, you will also want to make sure that you are paying the correct amount.  Personal tax (income tax and capital gains tax) is arguably the largest and most important cost which most people pay.

How we can assist you:

Preparing your tax return in accordance with all rules and regulations

Apply our tax expertise to be certain that you are paying the correct level of tax

Bring to your attention all planning opportunities available to you which may reduce your tax liability well before any deadline so that you have an opportunity to consider each possibility carefully.

How do we charge for the work we do for you?

Our fee for completing your individual Tax Return is made up of two components:-
a. Fixed fee
b. Time based fee.

In many cases, no further work will be required to complete your Tax Return. However, additional work may be required (which is charged on a time basis) such as preparation of capital gains tax computations on the sale of a buy-to-let or preparation of rental accounts.

Client's Responsibilities

You are solely responsible for the completeness and accuracy of any information we require to process your payroll and prepare any end-of-year HM Revenue & Customs ("HMRC") forms or returns and we will not verify this information in any way. Consequently, we can accept no responsibility whatsoever for any consequences of the information supplied to us not being complete or accurate in any way.

The Best Service Promise

Why not contact us for a FREE first meeting to discuss your requirements in more detail?  You'll be surprised at the difference!