Tier 4

Bookkeeping, financial accounting, accounts preparation and more.

Services included in this tier are:

Tier 4 service details

Bookkeeping – Whether it is called, bookkeeping, data entry or invoicing, it is the base of accounting.

The recording of actual transactions in monetary terms to trial balance only, without any adjustments. It specifically excludes the calculation of actual transactions, for example the calculations of depreciation, accruals/prepayments and work-in-progress.

Financial accounting and accounts preparation for sole traders and partnerships – Real-time figures to show the profitability and taxes to be paid.

The preparation of financial accounts for sole traders and partnerships but specifically excludes any accounts required for statutory purposes under the prevailing Companies Acts (see Tier 3).

VAT – A hot topic to be dealt with full consideration to increase profitability and decrease taxes.

The preparation of VAT returns; dealing with HMRC on behalf of a client, advising on the applicable rates of VAT in respect of both inputs and outputs.

A member practising in this area of work can be expected to provide their client with:

  • an explanation of the principles of VAT
  • calculations of the VAT to be paid to, or recoverable from, HMRC
  • computerised accountancy systems.

The demonstration, installation or provision of training to clients on accountancy and accountancy related systems.

Computerised accountancy systems

The second heart of the business after accounting is technology. We work with Singletree Technologies to ensure smooth running of the business and plan tax payments.

The demonstration, installation or provision of training to clients on accountancy and accountancy related systems.

Payroll – RTI, Auto Enrolment, pension and taxes to be reported and planned for profitable running of business

The calculation of the net pays due to a client’s employees after taking into account all deductions and reimbursement of expenses.

This includes the preparation of returns to enable the submission (to HMRC) of all required RTI forms, after approval by a client. Advising the client of their liability, if any, to pay PAYE and National Insurance to HMRC.

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