Finance Fundamentals

Full-service accountancy

Payroll

Too busy to manage your payroll? Adding Value can run your payroll seamlessly so you can rest assured that your employees will be paid on time. As well as running your payroll each month, we can:

• Set up your payroll and register it with HMRC 
• Organise your Real Time Information (RTI) filing with HMRC
• Organise your tax payments
• Organise your pension administration
• Distribute payslips and deal with queries from employees

Bookkeeping

We could all do with less paperwork in our lives, but bookkeeping makes it difficult to cut down. Luckily, we’ve got you covered. We can take over your financial administration so that you can focus on running your business. We can: 

• Maintain your financial records with accuracy 
• Keep track of the invoices you need to pay and liaise with suppliers over bill settlements
• Raise your sales invoices and liaise with customers to control credit
• Keep track of all the bank transactions and reconcile these with the finance system
• Use the latest technology to automate and speed up processes and make them more accurate

VAT returns

If you’re worried about keeping on top of your VAT returns, our team can ensure they are never missed. We can:

• Register you for VAT
• Work with you to identify the correct VAT treatments 
• File your VAT returns electronically (Making Tax Digital)

Annual accounts

All organisations must prepare and publish a set of accounts each year. This is a specialist area and you may not have in-house financial experts to do this. So, let Adding Value help you out and make sure your finances are running smoothly. Our team can:

• Prepare your statutory annual accounts, complying with the FRS105 or FRS102(1a) accounting standards
• Prepare and file the statutory annual accounts with Companies House
• For large charities: Prepare accounts under the Charity SORP format if required
• For small charities: Prepare small charity accounts for filing with the Charities Commission 
• For small charities: Undertake the ‘Independent Examination of Accounts’ For CICs: Help you file the annual returns required by the CIC Regulator

Tax returns

Although registered charities are exempt from Corporation Tax, social enterprises such as CICs are not. Calculating and submitting your Corporation Tax return is a complex and specialist area. Let us get rid of the stress. We can:

• Help you maximise the use of capital allowances to minimise your corporation tax burden
• Prepare and file Corporation Tax returns
• Prepare and file Self Assessment Tax returns
• Help you apply for the Creative Industries Tax Relief Scheme. This is a tax refund given to theatres, museums, art galleries and other similar charities  that allows you to increase the amount you can spend on activities.

Ensuring good financial controls are in place

We care about your finances, which is why we make sure there are good financial controls in place throughout all our processes. By working with Adding Value, you minimise the risk of fraud and uncontrolled spending. Our team consistently demonstrates good practice – giving funders the assurance they need.