Case Study 2: Professional Tradesperson Monthly Fee: £70

The Client: Painter & Decorators

Status: Company
Turnover: £84,000 per annum
Directors: 2
Staff: 1 employees
Subcontractors: 5-10

Service provided by MAAP

MAAP Fee: £70 fee per month
Monthly: Payroll & CIS returns
Quarterly: VAT & trading reports
Annually Company accounts & CT600 tax
   

Summary

It has been a hard few years for the building trade and only the fittest have survived these lean times. The well organised and more professional operations have nonetheless found ways to prosper and grow. This client is typical of the many professional tradesmen and tradeswomen we do the books for.

It is rare that you will find such people even remotely interested in paperwork and they are often the first to admit it.

Consequently they can see the sense of divesting themselves of the need to attend to the finer details of writing up the accounts each week, and making sure they file their CIS returns each month. We all know people who have managed to rack up substantial fines just because they forgot to file a particular month´s CIS return! It is too easily done.

If you are a unincorporated tradesman or small company builder, take the opportunity to come along and talk to us about how we can relieve you of much of the paperwork you do at the moment. We can streamline your admin down to the barest minimum and probably still end up charging the same as you currently pay your existing accountant. We know the hours you have to work to make a good living. So why waste it on paperwork when you don´t have too?

More Detail/Less detail
  • The client prepares their own sales invoices and uses a monthly CIS payments and deductions sheet (provided by MAAP) to advise of the CIS tax they have deducted from their subcontractors, or the CIS tax they have suffered.
  • The client keeps all their suppliers’ invoices in either a ‘paid’ or ‘unpaid’ lever-arch file. All we require from the client is to annotate each invoice or batch of invoices as they pay them with the date of payment and the method of payment (cash, cheque, debit or credit card).
  • The client rings through the wages for the month and is provided with payslips and detailed summaries for the end of the month.
  • The client delivers their accounting records on a quarterly basis so we can prepare their VAT quarter return.
  • The client is in constant contact with MAAP during the year, seeking advice and keeping us informed of any new developments such as the purchase of new equipment, the taking out of loans, capital injection, etc.
  • MAAP prepares the monthly payroll and CIS records and emails through payslips and reports in good time for the end of month.
  • We deal with the online filing of annual payroll and CIS returns, leavers and joiners with the HMRC, as well as offering first-level employee management advice.
  • Upon receipt of the quarterly paperwork, MAAP writes up the Sales Day Books (SDB), Purchase Day Book (PDB) and prepares and reconciles the bank records to date. We then calculate the VAT and return the records to the client in good time for the client to approve the figures and allow us to e-file the VAT return with the HMRC.
  • The quarterly reports we supply allows the client to review turnover and expenditure to date as well as the estimated bottom line profit for the year to date.
  • At the end of the year we collate the information we have already processed to produce the statutory financial statements to be filed with Companies House, as well as the CT600 Corporation Tax return for filing with the HMRC. We also prepare and submit the director´s personal Self Assessment tax returns.
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Client Case Studies

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Match one of the client profiles below, and you will know we can deliver the service you need at the fee level stated.

Call 01202 482121 for a free consultation.

MAAP Accountants
Sigma House, 44 Willow Way
Christchurch, Dorset, BH23 1LA
Tel: 01202 482121
info@maap.co.uk