West Sussex Accountants

Accounting Services in West Sussex

Accounting Services in West Sussex
What's the Difference

We have been in business first and therefore, we understand how
your business works and the issues you could possibly face.

Cloud Accounting in West Sussex

Cloud Accounting
Specialists

We are QuickBooks Platinum partners
and can help you transition to the cloud efficiently.

Busdinerss Growth in West Sussex

Business Growth for
your Business

We look forward to help you planyour Businesswith services
such as budgeting and forecasting to help you move forward

OUR SERVICES

As West Sussex Accountants, we pride ourselves on the services we provide to our clients. Whether it is guidance on how to get the most out of QuickBooks or advice on any tax issues, we make sure that we are available to assist you, so that you can make informed decisions.

Annual Accounts - Merranti Accounting

Annual Accounts

We will prepare your accounts and talk you through the results, highlighting ...

Bookkeeping - Merranti Accounting

Bookkeeping

Everyone’s bookkeeping needs are different. At Merranti we are committed to providing ...

Company Secreterial - Merranti Accounting

Company Secretarial

Many administration roles must be adhered to but unfortunately, these do not ...

Buy, Sell or Merge - Merranti Accounting

Buy, Sell or Merge

When considering a new investment it is important to asses if it ...

Financial and Management Accounts - Merranti Accounting

Financial & Management Accounts

Merranti will work with you to develop management information on a regular ...

Investment Appraisals - Merranti Accounting

Investment Appraisals

An Investment Appraisal is usually the final stage of putting together a ...

Payroll - Merranti Accounting

Payroll

At Merranti we understand the importance of payroll. We can make sure ...

Tax Fee Protection - Merranti Accountin

Tax Fee Protection

HMRC Tax and VAT Investigations can be daunting, disruptive and expensive. Merranti ...

Tax Returns - Merranti Accounting

Tax Returns

Tax returns must be completed and filed with HM Revenue & Customs ...

VAT Services - Merranti Accounting

VAT Services

VAT is a complicated area and we have the expertise to ensure ...

Property - Merranti Accounting

Property

We know the difference between our per square foot and square metre, ...

Self Assessments - merranti Accounting

Self Assessments

We will take on this burden for you, helping to ensure you ...

I was frustrated with my previous accountant, and my bookkeeper recommended me Merranti Accounting Ltd. Excellent service and very professional. Stephen goes the extra mile and explain everything in an easy to understand way. Very happy and I highly recommend this firm.

Steve and Merranti have been Aim Hire’s accountants for many years now, and we have grown significantly, they have proven to be incredibly efficient and trustworthy in everything they do. There is no fuss, no hassle; they are just a great company to deal with, I highly recommend them.

A friend recommended me to use Merranti Accounting. I am pleased to be one of their clients, and I feel like I am in good hands, I think now, I don’t have to worry about what to do. Stephen and the team are very professional and honest, and those were the traits that sum up a good accountant.

The first firm of accountants I’ve found that genuinely go the extra mile. Their support during what have been an extremely challenging couple of years has been nothing short of exceptional. Friendly, approachable, flexible and jargon-free, I can’t recommend Merranti highly enough.

Cyber Essentials - Merranti Accounting: Accountant Brighton and Accountant East Grinstead
Merranti Accounting - Quickbooks Platinum ProAdvisor: Accountant Brighton and Accountant East Grinstead
Making Tax Digital - Quickbooks Platinum ProAdvisor - Merranti Accounting: Accountant Brighton and Accountant East Grinstead
Xero Cloud Accounting - Merranti Accounting: Accountant Brighton and Accountant East Grinstead
Auto Entry - Accounts Software - Merranti Accounting: Accountant Brighton and Accountant East Grinstead
Accountant Brighton and Accountant East Grinstead

WHAT'S THE DIFFERENCE

We have been in business first, and then we are accountants, we understand how your business works, the issues you face and how to help you make the most of what you have as well as where you want to go.

We are Pro-Active, not reactive. We can agree fixed costs with you, so you know what your bill will be rather than varying amounts.
We are based in West Sussex to help your business and keep you informed.

About Us

Fixed Fees

As your Local Accountant we offer Fixed Accounting Fees from the outset, so you know exactly what your accounting fees will be for the year. You can then budget knowing that your not going to get an invoice every time. This way you have no surprises from your Local Accountant

Cloud Accounting

Your business, your choice, whether you want to work on Excel, Quickbooks, Xero or a specialised industry program, Merranti doesn’t duplicate records your software will the main source of information giving you instant up to date information. And, we provide full set up and training of all Cloud Software.

Dedicated Accountant

Having a dedicated accountant means you don’t have to start the conversation again, every time. Our team member gets to know you and your business meaning their advice (which is included) has a bigger benefit to you. We have specialists so if you need something specific then your dedicated accountant ...

Business Advice

All accountants offer business advice, and the difference is we started as business advisors before we were accountants. We see our role as being part of the growth and problem solving within your company. We do this by working with you to think ahead!

RECENT PROJECTS

Below are just some of our most recent stories of who we have helped our clients.

IHT Planning

Family Investment Company

IHT Planning, London Accountants, Property Accountants
Merger & Acquisition London Accountant

Buy or not to Buy

London Accountants, Merger or Acquisition, Retail Accounting
Management Accounts London Accountants

London Retailer – Management Accounts

London Accountants, Managment Accountants, Retail Accounting
ABOUT US

We are leading Financial & Management Accountants in West Sussex

We can provide a complete range of services to support you and your business with all your accounting needs to ensure you have the necessary information to run a successful business, whilst also ensuring that your statutory obligations are met and adhered to. We do this with agreed costs giving you peace of mind and absolute clarity over the prices you will be charged. By being based in West Sussex, we are perfectly located to assist your business with its financial reporting.

The Merranti Group

We are part of the Merranti Group

The Merranti Group provide a range of Business Services, such as Accounting, Consulting, Recruitment and Finance

Merranti Consulting are a business management consultancy which helps to provide you with business solutions, operational and marketing support. No matter the size of your business, our Company understands that it should run at maximum efficiency.

Merranti Finance provides tailored finance solutions for businesses, we can provide all aspects of finance from traditional loans through the Government funded Start-Up loans to various aspects of PE and VC funding, we will discuss what is the right funding solution for your business.

Merranti Recruitment finds you the right person with the right skills to fit within your team; We build relationships with both clients and candidates so that we can find you the perfect match by meeting every candidate face to face and using experienced interviewers before we recommend them to you.

Frequently Asked Questions

Companies House in the UK is a vital government registry for all types of corporate entities. It serves as a hub for business information, promoting transparency, ensuring legal compliance, aiding in research, and supporting various business transactions. It plays a pivotal role in preventing fraud, monitoring business activities, and facilitating government tax collection. In essence, Companies House is essential for maintaining a transparent and well-regulated business environment in the UK.

Financial reporting and auditing are governed by various regulations and standards:

  1. Financial Reporting:
    • UK Generally Accepted Accounting Practice (UK GAAP) and International Financial Reporting Standards (IFRS) guide how companies prepare financial statements.
    • Larger companies often use IFRS for consolidated financial statements.
  2. Auditing:
    • The Companies Act 2006 establishes legal requirements for company audits, auditor appointments, and audit reports.
    • Auditors follow International Standards on Auditing (ISAs) and UK-specific standards issued by the Financial Reporting Council (FRC).
    • The FRC oversees accounting and auditing standards, while other bodies like the Audit Quality Review (AQR) and Professional Oversight Board (POB) regulate audit firms.
Keep in mind that regulations can change, and staying updated with the latest rules is important. The UK has been undergoing reforms to strengthen auditing and corporate governance, so it's essential to follow current developments.

  1. Personal Allowance: A certain amount of income is tax-free, known as the personal allowance. Beyond this threshold, income is subject to taxation.
  2. Basic Rate: Income above the personal allowance up to a certain threshold is taxed at the basic rate. This rate is typically lower than the higher tax bands.
  3. Higher Rate: Income above the basic rate threshold up to another threshold is taxed at a higher rate, which is greater than the basic rate.
  4. Additional Rate: Income above the higher rate threshold is subject to the additional rate, which is the highest rate of income tax in the UK.
In addition to these basic rates, there are other tax considerations like the dividend tax and capital gains tax. The rates and thresholds may vary from year to year as determined by the government's fiscal policies.

  1. Register with HM Revenue and Customs (HMRC) as employers.
  2. Collect employee information, like names, addresses, and National Insurance numbers.
  3. Use payroll software to calculate and deduct Income Tax and National Insurance Contributions (NICs).
  4. Pay employees on time and provide payslips.
  5. Report earnings and deductions to HMRC using Real Time Information (RTI).
  6. Manage National Insurance Contributions for both employees and employers.
  7. Enroll eligible employees in a workplace pension scheme.
  8. Provide year-end forms like P60 and submit annual returns to HMRC.
  9. Keep payroll records for at least three years.
Be aware that regulations may change, so staying informed and seeking professional guidance is crucial to ensure compliance

To claim R&D tax credits in the UK:

  1. Ensure eligibility as a limited company engaged in qualifying R&D activities.
  2. Clearly identify R&D projects meeting criteria.
  3. Keep detailed records of R&D activities and costs.
  4. Calculate R&D costs (wages, subcontractors, consumables, etc.).
  5. Prepare your claim with a tax advisor.
  6. Submit your claim to HMRC online or via paper form.
  7. Await HMRC review and provide additional info if needed.
  8. Receive approved credits as a reduction in corporation tax or cash payment.
  9. Maintain R&D records for future claims.
  10. Consult a professional for expert guidance.

In April 2023 the Corporation tax rate was raised from 19% to 25%. However, tax rates and regulations can change, so it's important to verify the current rate with Her Majesty's Revenue and Customs (HMRC) or a qualified tax professional. The due date for Corporation Tax in the UK typically depends on the company's accounting period. In general, Corporation Tax is due 9 months and 1 day after the end of the accounting period.

The Construction Industry Scheme (CIS) in the UK regulates taxation within the construction sector. It involves contractors and subcontractors registering with HM Revenue and Customs. Contractors verify subcontractors' tax status before making payments, with deductions based on the subcontractor's status. Monthly reporting to HMRC is mandatory, and contractors must pay the deducted taxes. Compliance is crucial to avoid penalties, and end-of-year statements are provided to subcontractors. Disputes can be appealed with HMRC. CIS aims to enhance tax compliance and reduce evasion in the construction industry, ensuring accurate tax payments by subcontractors.

Value Added Tax (VAT) is a consumption tax imposed at different stages of production and distribution, ultimately passed on to the end consumer. VAT registration is mandatory when a business reaches a specific annual turnover, typically set by each country, or when engaged in specific taxable activities. In some instances, voluntary registration is an option for businesses below the threshold but looking to recover input tax. The due dates for Value Added Tax (VAT) payments vary by country and can also depend on the specific circumstances of the business. In many countries, VAT payments are typically due on a regular basis, such as monthly, quarterly, or annually. The specific due dates are often determined by the tax authorities and can be influenced by factors like the business's turnover, industry, and filing frequency.

Here are some common VAT payment schedules:

  1. Monthly: Some businesses, particularly those with high turnover, are required to remit VAT on a monthly basis.
  2. Quarterly: Many businesses, especially smaller ones, are on a quarterly VAT payment schedule.
  3. Annually: In certain cases, businesses with very low turnover may file and pay VAT annually.
  4. Custom Schedules: Some businesses with unique circumstances or international operations may have custom VAT payment schedules.
It's essential for businesses to understand their specific VAT payment schedule, as well as the deadlines and requirements set by their country's tax authority. Missing VAT payment deadlines can lead to penalties and interest charges, so compliance is crucial.

businesses can take various legal forms, including sole proprietorships, limited companies, partnerships, limited liability partnerships (LLPs), community interest companies (CICs), non-profit organizations, and franchise businesses. Each of these structures comes with distinct tax implications, making it essential for business planning. Sole proprietorships are straightforward but hold the owner personally liable for debts, subjecting profits to Income Tax. Limited companies are separate entities and pay Corporation Tax, with tax considerations for dividends and salaries. Partnerships distribute profits and losses among partners, who report this on their personal tax returns. LLPs combine limited liability and tax transparency. Community Interest Companies have unique tax rules due to their community-focused objectives, and non-profit organizations benefit from tax relief and exemptions. Selecting the right structure and effectively managing tax obligations are critical for business success. Business owners must grasp the tax intricacies associated with each structure, such as liability, tax rates, and eligibility for tax deductions and credits. Seeking guidance from tax professionals is often advisable to navigate these complexities, optimize tax planning, and make informed choices aligned with business objectives. Understanding the tax implications of the chosen structure is paramount for effective financial management and decision-making.

Making Tax Digital (MTD) represents a fundamental transformation in how the UK manages its tax processes. This initiative mandates that businesses maintain digital records of their financial transactions and submit tax returns electronically. The significance of understanding and adhering to MTD requirements cannot be overstated. Compliance with MTD is a legal necessity, backed by the potential for penalties and fines imposed by HM Revenue and Customs (HMRC). By encouraging real-time financial record-keeping and digital submissions, MTD aims to enhance accuracy and efficiency, thereby reducing errors, late payments, and the risk of tax investigations. Furthermore, embracing MTD provides businesses with up-to-date financial data that can inform strategic decisions and financial planning. It also promotes financial transparency by offering a real-time view of tax obligations throughout the year, alleviating the stress traditionally associated with year-end tax filings. It is imperative for businesses and individuals in the UK to remain informed about MTD's evolving regulations, ensuring continued compliance and the full utilization of the benefits it offers in terms of accuracy, efficiency, and financial management.

Claiming VAT on residential developments is not as straight forward as it seems, we strongly suggest you engage a Property Accountant when considering development as there are many pitfalls. As an example, only new build is Zero Rated where refurbishment, or conversion, from Commercial to Residential development is 5%. However there are many examples that vary, your contractors should charge you zero-rated or 5% dependent on producing an HMRC certificate confirming your status. It is common for materials and consultants to charge VAT. The type of build contract also varies the VAT. Further information can be found at HMRC Information or alternatively contact Steve Watts at Merranti Property Accounting.

CONTACT US

Our Head Office in the South East is the best way to contact us.

  • 01342 836 557
  • accounting@merranti.com
  • 10 Scandia-Hus Business Park, Felcourt Road, RH19 2LP

Contact Us

    RECENT NEWS

    Subdividing Land

    Subdividing Land: Tax Implications and Strategic Considerations

    Subdividing Land: Tax Implications and Strategic Considerations Subdividing land can…

    Tax relief

    Don’t Write Off Your Chances of Tax Relief!

    Don’t Write Off Your Chances of Tax Relief! In the…

    HMO

    Converting a Property into a House of Multiple Occupation

    Converting a Property into a House of Multiple Occupation (HMO):…