Services

Kalirai & Co. provide a range of added value services to help you manage your business and personal financial affairs: 

Business reconstructions 

During the life of a company, the directors and shareholders might feel that there are advantages to diversifying the ownership of business activities. Assets may need to be divided and the company restructured. As a process, it’s fraught with potential pitfalls. We will guide you through the process, ensuring that your aims for the reconstruction are achieved. 

R&D Tax Credits

If your company undertakes research and development, you may be able to claim government tax credits. These were introduced to incentivise innovation and reward UK companies who invest in research. We will ensure that your company is properly rewarded through the tax credit system for the R&D work you undertake. 

Capital Allowance Claims

A capital allowance is an expenditure a U.K. business may claim against its taxable profit. Capital allowances can be claimed on most assets purchased for use in the business, ranging from equipment and research costs to expenses for building renovations. The regulations around claims are continually evolving, and we can ensure you maximise your allowances, recouping money to reinvest in your business.

IR35

The regulations around off-payroll working can seem complex, with plenty of potential pitfalls for employers and contractors alike. Kalirai & Co. will ensure that your business is fully compliant with IR35 regulations while maximising tax benefits.

Inheritance Tax Planning

Inheritance tax can cost loved ones hundreds of thousands of pounds when you die. It’s possible to legally reduce your inheritance tax bill but it takes careful planning and a full understanding of the options available, as well as current regulations. We can help you plan your financial affairs to legally minimise the inheritance tax burden when you die. When it comes to your peace of mind, inheritance tax planning can make all the difference. 

All employers with 30 or fewer employees are now required to offer a workplace pension scheme. The only exception to this rule is for companies run by Director(s) and have no other employees on the payroll. Both the employer and employee need to make contributions to a pension scheme. There is currently a minimum employer contribution of 3%, but employers can opt to make a higher contribution.  Employees must also make contributions which are part funded by tax relief. Since 6 April 2019, total contributions must reach a minimum of 8%: 3% from the employer, 4% from the employee and an additional 1% tax relief.

The regulations around workplace pensions can be complicated. It can also be difficult to choose an appropriate pension provider. It’s easy to fall foul of the legislation, which is why it’s strongly recommended that you take professional advice regarding your own business pension provision for employees.

At Kalirai & Co., we can provide tailored advice and support to ensure that your workplace pension scheme is cost-effective and compliant.

Book-keeping is at the heart of good financial management for your business. As well as keeping on top of your cash flow, it can help you make future plans based on a fuller understanding of past performance. While keeping detailed records makes sound business sense, it’s not always easy trying to find the time to do it. That’s where professional support comes in. 

Over recent years, cloud technology has revolutionised book-keeping, making it a more efficient and accessible process. Cloud-based accounting software not only gives you the same functionality and reliability of desktop software, but with a range of benefits that are only available via the cloud. 

As Platinum Quick Books Advisors, we can help you maintain accurate book-keeping, introducing efficient systems that can automate the whole process. By outsourcing your book-keeping tasks, you can free up your time and concentrate on your core business. With your financial performance at your fingertips, you’ll not only have more time you’ll also make better decisions.

If you run a limited company, you will have to work with Companies House. Every type of limited company and corporation is required by law to register with Companies House. Whether you’re just starting out, moving to limited company status or you’re an established business, ensuring you have a good working relationship with Companies House is essential.

Companies House is responsible for ensuring limited companies are registered, monitored and compliant with all the necessary legislation. It requires the submission of annual accounts and a range of other corporate information.

With ongoing regulatory developments and growing accountability of company directors, it’s important to ensure that your limited company is compliant.

An experienced Chartered Accountancy team can help take the stress and uncertainty out of the process. We will lead you through the limited company formation process, liaise with Companies House and take care of the ongoing secretarial services. Our depth of professional knowledge will ensure that your limited company doesn’t inadvertently fall foul of an evolving regulatory framework, giving you valuable peace of mind and freeing up your time.

Each year, every company is required to prepare its annual accounts and pay tax on any profit made. If you run a limited company then you are required by law to send certain information to HMRC and Companies House. This is not only to ensure that your company pays the correct amount of tax, it’s also to provide accurate information about your company to banks, shareholders, and potential investors.

Because it’s a statutory requirement, there are penalties for omitting information or getting it wrong. That’s why it’s vital that end of year accounts are accurately compiled by an experienced Chartered Accountancy team.

Kalirai & Co. will not only ensure that your end of year accounts are prepared in full, we will also explore ways that you can legally minimise your tax liabilities, making more money available to re-invest back into your business. Timely, accurate accounts will ensure you meet all your legal and tax obligations, while ensuring your tax affairs are efficient and your business can plan for the future.

Corporate governance is the system by which companies are directed and controlled. Ultimately, the board of directors are responsible for the governance of their companies. Shareholders are responsible for appointing the directors and the auditors and need to be satisfied that an appropriate governance structure is in place. Corporate governance concerns the long-term strategic vision of the company and is to be distinguished from the day-to-day management of the company by full time managers. Well governed companies tend to perform better in financial and personnel terms.

At Kalirai & Co., we have a depth of high-level experience with blue-chip companies and can help you meet your corporate governance responsibilities, streamlining procedures and ensuring compliance.

If your business employs people you will normally have to operate PAYE as part of your payroll. PAYE is the system HMRC uses to collect Income Tax and National Insurance (NI) from employment. Every time you make a payment to your employees, be it salary, bonuses, tips, statutory sick, or maternity pay, you will need to make deductions for tax and NI. You may also need to make deductions for student loans and pension contributions. 

Keeping track of these requirements can be challenging, and the penalties for errors can prove costly. We can help you introduce a well-structured pay scheme that will make it simple to keep track of tax and NI liabilities. This is essential to ensure you’re compliant with tax regulations and employment law. We will also ensure that your business stays fully compliant with evolving HMRC requirements such as RTI (Real Time Information) or P11D, which is used to report ‘payments-in-kind’ which haven’t been subject to PAYE.

A professional Chartered Accountancy practice takes the stress and potential for error out of managing your business payroll responsibilities.

Many people in the UK and beyond are required to submit a UK self-assessment return. Failure to do so correctly, and in a timely manner can result in fines being imposed. Completing your tax return can be a complicated and time-consuming process, particularly as your business finances become detailed and complex. Not only will you need to disclose your taxable income, you’ll also need to supply details of capital gains, and your National Insurance contributions liabilities.

Ensuring that you take advantage of all of the available tax reliefs and allowances, such as relief on pension contributions, gift aid donations and loan payments can be complicated. It’s easy to miss out and end up paying more than you need to. 

Kalirai & Co. will help you stay on top of your personal and business tax responsibilities. We will ensure you don’t pay more than you need to, and that you’re fully compliant with all of the necessary requirements. Completing your self-assessment can be a headache but working with Kalirai & Co. will take the stress out of the whole process.

The more tailored, useful information you have about the financial performance of your business the better. It can help keep things running smoothly, and better inform your decision making. It can help you assess which products or services are selling well, which are not performing. It can help you plan staffing levels more efficiently and give you better information when considering expansion or diversification. It’s no exaggeration to say that the more accurate and current financial data you have, the more likely your business is to succeed and prosper.

Quarterly management accounts will help you gain access to the financial information you need. We can draw up quarterly management accounts for your business. These can include performance management indicators, measures and targets that allow you to assess how employees and departments are functioning.

 Kalirai & Co. will bring a depth of understanding and a keen commercial eye to your quarterly management accounts.

When you are in business there are legitimate ways in which you can reduce your tax liabilities. This can free up resources to grow your business, take on more staff and enjoy the fruits of all your hard work. It’s easy, however, to end up paying more than you need to. While book-keeping and accounts preparation will help you calculate your tax liability, tax planning will help you reduce it. With significant savings to be had, the cost of professional tax planning can often be easily recouped.

Personal and business tax planning is by its nature completely bespoke and reflects your particular circumstances. Intelligent remuneration strategies and smart profit extraction can have a significant impact on your tax liabilities, helping you to enjoy more of your hard-earned income.

Whether you’re looking for personal or business tax planning, Kalirai & Co. can help. With a depth of expertise and professional experience, we will help you manage your finances better and legitimately reduce your tax burden.

Whether your business turnover means you have to register with HMRC for VAT or you have voluntarily chosen to do so, then ensuing paperwork and administration is accurate can be onerous. It requires meticulous book-keeping and timely submission of VAT returns to avoid incurring unnecessary interest and surcharges.   

As experienced tax advisors, we can suggest which might be the best VAT system for your business and can help you keep track of your VAT liabilities, ensuring full compliance with MTD requirements.

MTD Compliance

Beginning in 2019 and rolling out to every VAT registered business in April 2020, Making Tax Digital (MTD) represents a fundamental change to the way the UK does business and how tax is administered. It impacts on how businesses maintain their accounting and tax records, and how they engage with HMRC. VAT registered businesses are now required to keep digital accounting records, and to use a compatible software product to submit updates and returns to HMRC.