Valid Research Ltd was formed by Dr Cath Jackson and started trading in January 2015. Cath is an experienced health services researcher and has held the post of Senior Research Fellow at the Universities of York and Leeds for over 10 years. Drawing on this experience, her company deliver high quality research in real world settings to meet the needs of different organisations.
We were involved with Cath’s business from the beginning and supported her in setting up by providing her with the relevant information. Cath was completely new to business and so we gave her lots of advice, for example how she should remunerate herself, how paye tax and dividend tax differ. We also talked through the best vat scheme for her to use. Some of these issues are quite complex and we found ways to explain these to Cath.
Cath’s business is now up and running and her finance systems are in place. She has peace of mind that we will take care of the regulatory procedures and is reassured that we are always at the end of a phone if she has any further queries.
Cath says “Setting up a small business is a daunting process and Lynn at Root Accountants has been invaluable in helping me with the finance side of things. She is quick to respond to my questions, offers clear advice and signposts me to further information if I need it.”
This company was established at the end of 2014, when Dominic decided to use his experience and network of contracts to provide consultancy services into the sports and gaming industry through a limited company, hence Six Degrees Sporting Connections Ltd was formed.
Dominic wanted accountancy advice from a company that was both local and personable with knowledge across all areas that would impact the set-up of a new limited company from tax consequences for both the company, and the directors as well as Vat, Paye and Dividends.
After our initial meeting we spent some time using the information we had gathered to compare the different options available to the client. We then had a long meeting explaining the details, in a straightforward way, the many tax and accounting aspects of running the company. These included, VAT, including Flat rate, dividends an how they were taxed, what expenses could be claimed through the limited company, how a directors salary would work, how the company shares could be structured and what the forecast corporation tax positon might be and when this would be due.
We then agree and set up a tax efficient plan for how and when to remunerate the directors, based on the company forecast.
The client went away armed with enough knowledge to happily get going and knowing that we were at the end of the phone if he had any further queries.
Having had an initial exploratory meeting with Root Accountants to understand the full extent of the services they offer to someone who is setting up a limited company. I found that they were able to advise and answer all my questions in a very straightforward manner on what is often a complex area, from company shares to Vat, Tax and Dividends. Subsequently at the next meeting they gave me the comfort, having been presented with a number of financial options, that not only were they going to save me money in the long run but also give me the peace of mind that my business was complying with all the financial requirements of HMRC.
Thomas Balmforth Ltd came to us a year after starting trading as a limited company, as they needed more information on their bookkeeping and year-end accounts.
The company compose and produce music.
The client wanted to firstly, fully understand all that was being submitted in their accounts and secondly, to be 100% sure they were produced to the highest standard.
After reviewing the client kept bookkeeping records, we prepared and discussed in detail, the Profit and Loss and Balance Sheet with them.
This included explaining how the bank is reconciled and how the Directors Loan Account works. We also explained the most tax efficient way to draw funds from the business.
The client felt confident in signing his accounts fully understanding the profit figures and corresponding tax liability.
I specifically wanted to fully understand my accounts and was really happy with the level of information and help given. Root were very good, and prompt, at answering queries.
I am very confident that we will continue to have a really productive working relationship. It's one less thing that I need to worry about.
Mowbray Design Architects deliver innovative and award-winning Architecture and interior design. They were referred to us by another firm of accountants, as we were more able to deliver the services they required.
Richard, one of the Directors wanted an accounting firm who would understand his business, who he could ask questions to, and build a relationship with.
As lots of our clients are in the service sector, we were able to advise on accounting systems, VAT, and payroll, and also be able to have a clear grasp of the issues of a new start up Architectural company.
Being a small practice, they wanted to know that we could respond quickly so that they had timely advice and information. We aim to reply to emails within 2 days, and often beat this expectation.
Richard was so happy with the work being done, and advice given, he introduced us to another company he was involved in.
Deciding to work with Root Accountants has been a great decision. They have invested the time to understand the needs of the business and are always on hand to quickly provide advice and to offer solutions. Highly recommended.