Since 2006 Aquila Accounting has specialised in friendly, flexible local accounting services to individuals and hard-working businesses across North Hampshire.
Tax records and submissions can be a complex and time-consuming effort for many people, especially those who are self-employed.
Every Small Business relies on help from its accountant, whether it's a Sole Trader, Partnership or Limited Company.
Forming a Limited Liability Company, a separate legal entity to conduct business, is a serious and detailed undertaking.
Having qualified as an accountant in 2006 I formed Aquila Accounting with the aim of providing friendly, local and reliable accounts support to hard working, small businesses operating in North Hampshire.
Originally a science graduate of the University of York, I bring to bear my experience gained from over 15 years as a systems analyst in the IT industry, using key strengths of numeracy, attention to detail and working to deadlines.
I am happy to meet clients at their offices, at home or at my home and to ensure the advice I give is relevant, timely and accurate, I maintain a Continuing Professional Development (CPD) plan designed around their requirements.
Licensed by the Association of Accounting Technicians, I am an active member of the AAT's North Hampshire branch.
Wendy Stanway is licensed and regulated by AAT to provide services in accordance with licence number 2641 details of which are displayed at the address shown. AAT is recognised by HM Treasury to supervise compliance with the Money Laundering Regulations and Aquila WJS Ltd is supervised by AAT in this respect.
Wendy Stanway is a Xero-certified advisor.
Today, my clients vary from a young mum who started her own business, working part-time to achieve a turnover of £5k, to a local business, established for over 50 years, with a turnover of £10m. My clients have always been kind enough to share their thoughts about Aquila and you can read some of these, below.
...with timely and quality accounting services, Aquila provides the perfect solution; carrying out the necessary research and providing us with the answers we need to help us make the right decisions.
Director, HR Consultancy.
...a delight to work with; Wendy has helped me understand the more complicated tax issues, particularly when we were dealing with my late husband's estate. I would find it hard to manage without her patient guidance.
Self Assessment Client
...my accountant of choice, for its measured, detailed and disciplined approach, Aquila helped me as I grew my business from sole trader to limited company and on through to its successful sale...
Owner, Clinical Practice
...we have relied on Aquila for many years. The quality of support has been at the highest level, with services ranging from accounting for investment partnerships to preparing annual budgets for trading companies.
Founder, Investment Group
522544 6521 (0) 44+
The information contained in this website and provided by Aquila WJS Ltd is for general information purposes only. Whilst we endeavour to keep the information up-to-date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, activities, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore entirely at your own risk.
Every effort is made to keep the website up and running smoothly. However, Aquila WJS Ltd takes no responsibility nor shall be be liable for the website being temporarily unavailable due to scheduled or emergency maintenance nor technical or other issues beyond our control. We reserve the right to suspend access to this website at any time and without notice for operational, regulatory, statutory or other reasons.
You must not use any content of this website for any unlawful or unethical purpose. You must not cause any nuisance, annoyance or inconvenience to us, our customers or other users of this website.
Through this website you are able to link to other websites which are not under the control of Aquila WJS Ltd. We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
In no event shall Aquila WJS Ltd, its Directors, employees or agents, be liable for any loss or damage including, without limitation: indirect or consequential loss or damage, or any loss or damage whatsoever as a result of loss of data, or profits, arising out of, or in connection with, the use of this website.
Copyright in all original content (text and graphics) contained in the website is held by Aquila WJS Ltd. The site design of the website is under license to Aquila WJS Ltd and copyright remains with the respective owner.
Cookies are used for many different functions including auto-filling forms, counting visitors, storing shopping basket items, personalising content, targeting advertising, recording user preferences and for authentication and security.
From 26 May 2012, UK websites were required by law to comply with a European Union regulation, under which organizations must gain the informed consent of web users, by positive action, before serving them web cookies. This principle is further supported by Recital 30 of the General Data Protection Regulation 2016/679 (“GDPR”).
Aquila WJS Ltd will only ever use personal information submitted in the “Get in Touch” contact form in this website for these purposes:
Personal data submitted via the contact form will be held only for as long as is necessary to fully respond to an enquiry and, in any event, no longer than one year unless the enquiry leads to contractual relations. Such data will never be passed to a third party, except where required by Law.
Aquila WJS Ltd publishes a formal Privacy Notice on this website.
Aquila Accounting is the trading style of:
Aquila WJS Ltd, ER2 52GR ,ekotsgnisaB ,yerG notpU ,egattoC elbatS
Registered in England and Wales. Company no. 08656745
Telephone: 522544 6521 (0) 44+
This Privacy Notice describes how Aquila collects and uses personal data about you, in accordance with the General Data Protection Regulation 2016/679 (“GDPR”) as amended by The Data Protection, Privacy and Electronic Communications (Amendments etc) (EU Exit) Regulations 2019, the Data Protection Act 2018 and any other implementing laws, regulations and secondary legislation, as amended or updated from time to time, in the UK (“Data Protection Legislation”).
Please read the following carefully to understand Aquila’s practices and approach to safeguarding your personal data and how Aquila will treat it.
Aquila WJS Ltd, trading as Aquila Accounting (“Aquila”), is registered in England and Wales as a limited liability company under number: 08656745; its registered office and place of business is situated at .ER252GR ,ekotsgnisaB ,yerG notpU ,egattoC elbatS
Aquila is registered with the Information Commissioners Office (ICO): number ZA048630.
For the purpose of the Data Protection Legislation and this Notice, Aquila is the ‘Data Controller’ and is responsible for deciding how it holds and uses personal data about you. Aquila is required under the Data Protection Legislation to notify you of the information contained in this Privacy Notice.
Aquila has appointed a Data Protection Contact who holds responsibility and authority to assist with enquiries in relation to this Privacy Notice and Aquila’s treatment of your personal data. Contact details are shown, below, in the Contact Aquila section.
Aquila obtains personal data about you when:
The information Aquila may hold about you includes the following:
Aquila may process your personal data for:
In some circumstances Aquila may anonymise or pseudonymise the personal data so that it can no longer be associated with you, in which case Aquila may use it without further notice to you.
If you refuse to provide Aquila with certain requested information, it may not be able to enter into an agreement with you to perform the contracted services or comply with Aquila’s legal or regulatory obligations.
Aquila may also process your personal data without your knowledge or consent, in accordance with this Notice, where Aquila is legally required or permitted to do so.
5.1. Data Retention
Aquila will only retain your personal data for as long as is necessary to fulfil the purposes for which it is collected; when assessing the retention period, appropriate for your personal data, Aquila takes into consideration:
5.2. Change of Purpose
In circumstances where Aquila needs to use your personal data for any reason, other than for the purpose for which Aquila collected it, Aquila will only use your personal data where that reason is compatible with the original purpose. Should it become necessary to use your personal data for a new purpose, Aquila will notify you and communicate the legal basis which permits it to do so before any new processing commences.
Aquila will share your personal data with Third Parties where it is required by law, where it is necessary to administer the relationship between Aquila and you, or where Aquila has another legitimate interest in doing so.
Such parties includes Aquila’s service providers for activities including, but not limited to: IT and cloud services, professional advisory services, administration services, marketing services and banking services.
All of Aquila’s service providers are required to take commercially reasonable and appropriate security measures to protect your personal data. Aquila only permits its service providers to process your personal data for specified purposes and in accordance with Aquila’s instructions.
Aquila may share your personal data with additional, specific, Third Parties, e.g. in the context of the possible sale or reorganization of its business, or with a Regulator, or to otherwise comply with the law.
Aquila may transfer the personal data we collect about you to countries outside of the European Economic Area (EEA), where there is an Adequacy Decision by the European Commission, in accordance with article 45 of GDPR, in relation to such countries and territories and therefore they are deemed to provide an adequate level of protection for your personal information for the purpose of the Data Protection Legislation.
Where there is no Adequacy Decision, or other mechanism approved by the European Commission in relation to certain countries such they are not be deemed to provide an adequate level of protection for your personal information for the purpose of the Data Protection Legislation, Aquila shall have put in place measures to ensure that your personal data is treated by those Third Parties in a way that is consistent with, and which respects, the Data Protection Legislation, such as Binding Corporate Rules (BCR) or Model Contract Clauses (also known as Standard Contract Clauses).
Aquila has put in place commercially reasonable and appropriate security measures to prevent your personal data from unauthorised access, alteration, disclosure or other use. In addition, Aquila limits access to your personal data to such employees, agents, contractors and authorised Third Parties which have an authentic business need to know and are subject to confidentiality terms.
Aquila has put in place its procedures to deal with any suspected data breach and will notify you, and any applicable regulator, of a suspected breach where Aquila is legally required to do so.
9.1. Changes in Your Personal Information
The personal data Aquila holds about you must be accurate and current. Should your personal information change, please notify Aquila of any changes, of which we need to be made aware, by getting in touch, using the Contact Aquila information, below.
9.2. Your Rights in Law
Under certain circumstances, by law, you have the right to:
In order to exercise any of the above rights, email or write to Aquila’s Data Protection Contact, as shown in the Contact Aquila section, below.
You will not have to pay a fee to access your personal data or to exercise any of your other rights in law. However, Aquila may charge a reasonable fee if your request for access is without foundation, vexatious or excessive; Aquila may refuse to comply with any request in such circumstances.
Aquila may need to request specific information from you to help it confirm your identity and ensure your ability and right to access the personal information or to exercise any of your other rights in law. This is a proportionate security measure, to prevent unauthorised disclosure of personal information.
Solely in circumstances where you may have provided your consent to the collection, processing and transfer of your personal data for a specific purpose, you have the right to withdraw your consent for that specific processing, at any time. To withdraw your consent, please email or write to Aquila’s Data Protection Contact, as shown in the Contact Aquila section, below.
Once Aquila has received your notification that you have withdrawn your consent, Aquila will no longer process your personal information for the purpose, or purposes, for which you originally provided the consent, unless we have another legitimate basis, in law, for doing so.
If you have any questions regarding this notice or the manner in which Aquila processes your personal data, or to exercise your rights in law, please email Aquila’s Data Protection Contact, Wendy Stanway, Director at firstname.lastname@example.org or telephone on 522544 6521 (0) 44+
You also have the right to make a complaint to the Information Commissioner's Office (ICO), the UK supervisory authority for data protection issues, at any time. The ICO’s contact details are as follows:
Information Commissioner's Office,
Tel: 0303 123 1113 (local rate) or 01625 545 745 (national rate),
Fax: 01625 524 510
These terms and conditions should be read alongside the Privacy Notice.
References to "we" and "us" and "our" relate to Aquila WJS Ltd, trading as Aquila Accounting. References to "you" and "your" relate to the Client.
Our engagement letter, the schedule of services and our standard terms and conditions of business are governed by, and should be construed in accordance with, the law and practice of England and Wales. Each party agrees that the courts of England and Wales will have exclusive jurisdiction in relation to any claim, dispute or difference concerning this engagement letter and any matter arising from it. Each party irrevocably waives any right to object to any action being brought in those courts, to claim that the action has been brought in an inappropriate forum, or to claim that those courts do not have jurisdiction.
As with other professional services firms, we are required to identify and verify our clients for the purposes of the UK anti-money laundering legislation. Save in exceptional circumstances we cannot start work until this requirement has been met. We may request from you, and retain, such information and documentation as we require for these purposes and/or make searches of appropriate databases including ID verification software.
We do not hold client money.
In some circumstances we may receive commissions and/or other benefits for introductions to other professionals or in respect of transactions that we arrange for you. Where this happens we will notify you in writing of the amount and terms of payment and receipt of any such commissions or benefits.
We are committed to providing you with a high-quality service that is both efficient and effective. However, should there be any cause for complaint in relation to any aspect of our service, please contact Aquila Accounting. We agree to look into any complaint carefully and promptly and do everything reasonable to try and resolve it. If you are still not satisfied you can refer your complaint to our professional body The Association of Accounting Technicians.
Communication between us is confidential. We shall take all reasonable steps not to disclose your information except where we are required to and as set out in our privacy notice. Unless we are authorised by you to disclose information on your behalf, this undertaking will apply during and after this engagement.
We may, on occasions, subcontract work on your affairs to other tax or accounting professionals. The subcontractors will be bound by our client confidentiality and security terms.
If there is a conflict of interest in our relationship with you or in our relationship with you and another client that is capable of being addressed successfully by the adoption of suitable safeguards to protect your interests, then we will adopt those safeguards.
Where conflicts are identified that cannot be managed in a way that protects your interests then we regret that we will be unable to provide further services. If this arises, we will inform you promptly. We reserve the right to act for other clients whose interests are not the same as or are adverse to yours, subject, of course, to the obligations of confidentiality referred to above.
You acknowledge that we will act in accordance with the Privacy Notice we have supplied to you.
Should we resign or be requested to resign we will normally issue a disengagement letter to ensure that our respective responsibilities are clear.
Should we have no contact with you for a period of three months or more, we may issue to your last known address a disengagement letter and thereafter cease to act.
We reserve the right following termination for any reason to destroy any of your documents that we have not been able to return to you after a period of six months unless other laws or regulations require otherwise.
As instructed, we will communicate with you and with any third parties you instruct us to as set out in our covering letter and privacy notice via email or by other electronic means. The recipient is responsible for virus-checking emails and any attachments.
With electronic communication there is a risk of non-receipt, delayed receipt, inadvertent misdirection or interception by third parties. We use virus-scanning software to reduce the risk of viruses and similar damaging items being transmitted through emails or electronic storage devices. However, electronic communication is not totally secure and we cannot be held responsible for damage or loss caused by viruses, nor for communications that are corrupted or altered after despatch. Nor can we accept any liability for problems or accidental errors relating to this means of communication, especially in relation to commercially sensitive material. These are risks you must accept in return for greater efficiency and lower costs. If you do not wish to accept these risks, please let us know and we will communicate by hard copy, other than where electronic submission is mandatory.
Any communication by us with you sent through the post or Direct Exchange (DX) system is deemed to arrive at your postal address two working days after the day that the document was sent.
When accessing information held electronically by HMRC, we may have access to more information than we need and will only access records reasonably required to carry out the contract.
You are required to keep us up to date with accurate contact details at all times. This is important to ensure that communications and papers are not sent to the incorrect address.
Our fees may depend not only upon the time spent on your affairs but also on the level of skill and responsibility, and the importance and value of the advice that we provide, as well as the level of risk.
If we provide you with an estimate of our fees for any specific work, then the estimate will not be contractually binding unless we explicitly state that that will be the case.
Where requested, we may indicate a fixed fee for the provision of specific services or an indicative range of fees for a particular assignment. It is not our practice to identify fixed fees for more than a year ahead as such fee quotes need to be reviewed in the light of events. If it becomes apparent to us, due to unforeseen circumstances, that a fee quote is inadequate, we reserve the right to notify you of a revised figure or range and to seek your agreement thereto.
In some cases, you may be entitled to assistance with your professional fees, particularly in relation to any investigation into your tax affairs by HMRC. Assistance may be provided through insurance policies you hold or via membership of a professional or trade body. Other than where such insurance was arranged through us, you will need to advise us of any such insurance cover that you have. You will remain liable for our fees regardless of whether all or part are liable to be paid by your insurers.
We will bill monthly, quarterly and annually and our invoices are due for payment upon presentation. Our fees are exclusive of VAT, which will be added where it is chargeable. Any disbursements we incur on your behalf and expenses incurred in the course of carrying out our work for you will be added to our invoices where appropriate.
Unless otherwise agreed to the contrary, our fees do not include the costs of any third party, counsel or other professional fees.
Where this contract exists between us and a purchaser acting in the course of a business we reserve the right to charge interest on late-paid invoices at the rate of 8% above the Bank of England base rate under the Late Payment of Commercial Debts (Interest) Act 1998. We also reserve the right to suspend our services or to cease to act for you on giving written notice if payment of any fees is unduly delayed. We intend to exercise these rights only where it is fair and reasonable to do so.
If you do not accept that an invoiced fee is fair and reasonable you must notify us within 21 days of receipt, failing which you will be deemed to have accepted that payment is due.
On termination of the engagement you may appoint a new adviser. Where a new adviser requests professional clearance and handover information we reserve the right to charge you a reasonable fee for the provision of handover information.
We will only assist with implementation of our advice if specifically instructed and agreed in writing.
We will retain all copyright in any document prepared by us during the course of carrying out the engagement save where the law specifically provides otherwise.
If any provision of this engagement letter, schedules of services or standard terms and conditions is held to be void, then that provision will be deemed not to form part of this contract and the remainder of this agreement shall be interpreted as if such provision had never been inserted.
In the event of any conflict between these standard terms and conditions and the engagement letter or schedules of services, the relevant provision in the engagement letter or schedules will take precedence.
If we become aware of a dispute between the parties who own or are in some way involved in the ownership and management of a business client, it should be noted that where our client is the business, we would not provide information or services to one party without the express knowledge and permission of all parties. Unless otherwise agreed by all parties we will continue to supply information to the registered office/normal place of business for the attention of the directors / proprietors. If conflicting advice, information or instructions are received from different directors / principals in the business, we will refer the matter back to the board of directors / the partnership / the LLP and take no further action until the board / partnership / LLP has agreed the action to be taken.
(including insurance mediation services)
Investment business is regulated under the Financial Services and Markets Act 2000.
If, during the provision of professional services to you, you need advice on investments, including insurances, we may have to refer you to someone who is authorised by the Financial Conduct Authority or licensed by a designated professional body as we are not authorised to give such advice.
Insofar as we are permitted to do so by law or professional guidelines, we reserve the right to exercise a lien over all funds, documents and records in our possession relating to all engagements for you until all outstanding fees and disbursements are paid in full.
We will provide our services with reasonable care and skill. Our liability to you is limited to losses, damages, costs and expenses directly caused by our negligence, fraud or wilful default.
Exclusion of liability for loss caused by others
We will not be liable if such losses, penalties, interest or additional tax liabilities are caused by the acts or omissions of any other person or due to the provision to us of incomplete, misleading or false information, or if they are caused by a failure to act on our advice or a failure to provide us with relevant information.
In particular, where we refer you to another firm whom you engage with directly, we accept no responsibility in relation to their work and will not be liable for any loss caused by them.
Exclusion of liability in relation to circumstances beyond our control
We will not be liable to you for any delay or failure to perform our obligations under this engagement letter if the delay or failure is caused by circumstances outside our reasonable control.
Exclusion of liability relating to non-disclosure or misrepresentation
We will not be responsible or liable for any loss, damage or expense incurred or sustained if information material to the service we are providing is withheld or concealed from us or misrepresented to us.
This exclusion shall not apply where such misrepresentation, withholding or concealment is or should (in carrying out the procedures that we have agreed to perform with reasonable care and skill) have been evident to us without further enquiry beyond that which it would have been reasonable for us to have carried out in the circumstances.
Indemnity for unauthorised disclosure
You agree to indemnify us and our agents in respect of any claim (including any claim for negligence) arising out of any unauthorised disclosure by you or by any person for whom you are responsible of our advice and opinions, whether in writing or otherwise. This indemnity will extend to the cost of defending any such claim, including payment at our usual rates for the time that we spend in defending it.
The advice and information we provide to you as part of our service is for your sole use and not for any third party to whom you may communicate it unless we have expressly agreed in the engagement letter that a specified third party may rely on our work. We accept no responsibility to third parties, including any group company to whom the engagement letter is not addressed, for any advice, information or material produced as part of our work for you that you make available to them. A party to this agreement is the only person who has the right to enforce any of its terms and no rights or benefits are conferred on any third party under the Contracts (Rights of Third Parties) Act 1999.
Unless otherwise agreed in the engagement letter our work will begin when we receive your implicit or explicit acceptance of that letter, except as stated in that letter we will not be responsible for periods before that date.
Each of us may terminate this agreement by giving not less than 21 days’ notice in writing to the other party, except where you fail to cooperate with us or we have reason to believe that you have provided us or HMRC with misleading information, in which case we may terminate this agreement immediately. Termination will be without prejudice to any rights that may have accrued to either of us prior to termination.
In the event of termination of this contract, we will endeavour to agree with you the arrangements for the completion of work in progress at that time, unless we are required for legal or regulatory reasons to cease work immediately. In that event, we shall not be required to carry out further work and shall not be responsible or liable for any consequences arising from termination.
If you engage us for a one-off piece of work (for example advice on a one-off transaction or preparation of a tax return for one year only) the engagement ceases as soon as that work is completed. The date of completion of the work is taken to be the termination date and we owe you no duties and we will not undertake further work beyond that date.
Where recurring work is provided (for example ongoing compliance work such as the completion of annual tax returns) the engagement ceases on the relevant date in relation to the termination as set out above. Unless immediate termination applies, in practice this means that the relevant termination date is:
We owe you no duties beyond the date of termination and will not undertake any further work.
We will observe and act in accordance with the bye-laws, regulations and ethical guidelines of the Association of Accounting Technicians and will accept instructions to act for you on this basis.
You are responsible for bringing to our attention any errors, omissions or inaccuracies in your returns that you become aware of after the returns have been submitted in order that we may assist you to make a voluntary disclosure.
In particular, you give us the authority to correct errors made by HMRC where we become aware of them. In addition, we will not undertake tax planning which breaches Professional Conduct in Relation to Taxation. We will therefore comply with the general anti-abuse rule and the targeted anti-avoidance rule. We will not be liable for any loss, damage or cost arising from our compliance with statutory or regulatory obligations. You can see copies of these requirements at our offices. The requirements are also available online at https://www.aat.org.uk/
The implications of professional body membership as it relates to GDPR are set out in the privacy notice, which should be read alongside these standard terms and conditions of business.
We will endeavour to record all advice on important matters in writing. Advice given orally is not intended to be relied upon unless confirmed in writing. Therefore, if we provide oral advice (for example, during the course of a meeting or a telephone conversation) and you wish to be able to rely on that advice, you must ask for the advice to be confirmed by us in writing. However, bear in mind that advice is only valid at the date it is given.
You have a legal responsibility to retain documents and records relevant to your tax affairs. During the course of our work we may collect information from you and others relevant to your tax affairs. We will return any original documents to you.
When we cease to act for you we will seek to agree the position on access to cloud-accounting records to ensure continuity of service. This may require you to enter direct engagements with the software providers and pay for that service separately. Documents and records relevant to your tax affairs are required by law to be retained as follows:
Individuals, trustees and partnerships
Companies, LLPs and other corporate entities
While certain documents may legally belong to you, we may destroy correspondence and other papers that we store, electronically or otherwise, which are more than seven years old. This includes your documents if they have not been reclaimed by you within the seven-year period. You must tell us if you require the return of any specific document or their retention for a longer period.
You should retain documents that are sent to you by us as set out in the privacy notice, which should be read alongside these terms and conditions.
In accordance with the disclosure requirements of the Services Directive, our professional indemnity insurer is Trafalgar Insurance Company Limited, The Lloyds Building, 12 Leadenhall Street, London. EC3V 1LP. The geographical limits within which we can operate are Worldwide excluding USA and Canada their Dominions and Protectorates
The VAT Registration Number for Aquila WJS Ltd is GB 217 6952 86.
Personal taxation isn't always straight-forward.
Changes to tax legislation may, over time, make Returns difficult to understand and taxpayers stand to incur penalties through incomplete or late submission.
Multiple sources of income, including: significant capital gains, the proceeds from a Trust or settlement, overseas income from property or investments can combine to create a picture that needs to be presented accurately and on-time.
Aquila Accounting takes a patient and understanding approach, building the confidence of its Personal clients by filling the knowledge gaps, avoiding the risks of incomplete information and ensuring deadlines are met.
Aquila Accounting brings its experience to bear to help individuals with varied sources of income, including property let on either a permanent or holiday basis, to ensure accurate reporting of taxable profits, at home or abroad.
Contact Aquila for a clear and straight-forward approach to personal taxation, including:
Making sure financial records are accurate, reliable and - above all - legal.
For many start-ups, the need for an accountant doesn't always stand out. But as the business grows, so will the need for advice and controls; the services of an experienced accountant will prove invaluable, especially in key areas of bookkeeping, bank reconciliation, tax and payroll.
Annual and management accounts are essential for all businesses to operate in an effective way. Aquila Accounting's bookkeeping and accounts services provide the information necessary for good management decisions.
Annual accounts lead to Tax Returns, whether by Self Assessment for Partners and Sole Traders or in the form of Corporation Tax on the profits of Limited Companies. Aquila Accounting achieves the necessary records management, computations and submissions within statutory deadlines.
For a complete Small Business service, make Aquila your first choice for:
Helping to meet Regulatory challenges.
It's important to plan the formation of a Limited Company, ensuring statutory registrations are in place together with programmes for payroll, VAT, Corporation Tax and to set up your accounting system so that year-end financial reporting will be easier.
The creation of Directors and Shareholders places a higher burden of statutory responsibility on the operations and records of the Business.
Statutory accounts are a legal requirement for a limited company and form a public record of its financial condition. An annual Confirmation Statement, confirming Directors, Shareholders, the control and activities of the business, must be submitted to Companies House; failure to do so risks penalty fines and other measures against the company.
Aquila Accounting has enjoyed working with a highly varied client base of companies, specializing in a equally wide range of commercial activities.
Aquila's Corporate package combines accounting and Company Secretarial services:
A vision for a transformed tax system.
HMRC has plans to become one of the most digitally advanced tax administrations in the world. This means that big changes are needed to our current tax system, affecting both how data is collected and how it is stored by HMRC.
HMRC has taken a major step forward in achieving this with the launch of the Making Tax Digital (MTD) initiative.
HMRC expects this will transform tax administration, so that it is:
For many businesses, the starting point for MTD is VAT. Since 1 April 2019, businesses registered for VAT because their turnover is over the threshold must submit VAT Returns using the new MTD for VAT service.
Businesses will be required to keep digital records.
Aquila is registered to file MTD returns on behalf of its clients.
HMRC releases regular updates to its MTD Roadmap. Of particular note for SMEs and Landlords:
Get personal tax right and avoid penalties.
It’s called Self-Assessment for a reason. It is your responsibility to work out exactly how much tax you owe and have to pay.
On-line tax returns must be submitted by January 31 after the end of the tax year and you need to keep records for up to 6 years prior. HMRC can issue a fine for each tax year you don’t have the correct records.
Aquila can make sure you pay just the right amount of tax and help you reclaim gift-aid on your charitable donations.
You may be required to complete a Self-Assessment return if you:
Not sure how Self Assessment affects you? Contact Aquila for a Free Consultation today.
Paid on the profits of your business.
Most businesses - companies and sole traders - must pay tax.
All businesses must keep accurate records of their ins and outs and produce annual accounts and tax returns.
If record keeping is difficult for you, Aquila is on hand to receive your physical or digital receipts, bank statements and produce reliable accurate accounts for you.
Aquila makes sure the correct amount of tax is paid, by preparing:
Aquila offers valuable advice to help businesses understand:
Understanding employee pay and deductions.
If you run a company and pay yourself and / or others who work for you, or operate as a sole-trader and pay others who work for you, you must register as an employer and operate a payroll system.
Every time you pay someone, details of the payment and deductions must be sent immediately, online, to HMRC under the Real Time Information (RTI) initiative.
Most employers are obligated to establish and enrol their staff into a pension scheme and pay contributions into the pension.
Aquila brings its experience to bear by:
On goods, services and taxable supplies.
Value Added Tax is an additional charge some businesses must add to their sales. Collected tax is paid to HMRC.
Most products and services qualify for VAT. If your annual business turnover exceeds the published VAT threshold you will probably have to register for VAT. You will then be required to file VAT returns with HMRC.
Aquila relieves the administrative burden, assisting with record keeping and timely quarterly, or annual, filing with HMRC.
Aquila provides advice in key areas of VAT process:
Modern bookkeeping for today's business.
Whatever your business, it is vital that accurate and reliable accounting records are kept. As the Making Tax Digital initiative progresses, more business, and personal, tax data will be filed electronically.
In order to achieve this, soon, most accounting records will have to be held digitally and, for most businesses, this will be achieved using modern, cloud-based, accounting software.
Wendy Stanway is a Xero-certified advisor and Aquila is experienced in the selection and use of several popular accounting packages including: Sage50 and Quickfile.
Aquila's flexible approach responds to its clients' preferred methods, whether businesses:
Explore the best fit for your business by contacting Aquila for a Free Consultation.