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Chartered
Accountants

Expertise You Can Count On

Accounts 

We will prepare your accounts accurately and to agreed timescales and deadlines, as well as preparing accounts to help in completion of self-assessment tax returns, producing financial statements to file at Companies House and abbreviated accounts to ensure the minimum amount of your financial information is made public.

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However, our expertise goes beyond simply reporting past activity.

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  • Identify areas where we can assist in minimising your tax liability

  • Identify areas of the business that give you the most opportunity to make improvements

  • Use the accounts to help you measure where you are in meeting your goals and what actions you need to take

  • Above all, we take the time to explain your accounts to you so that you understand what is going on financially within your business, helping you to plan for the future.

  • Cloud accounting software that enables secure, real-time access to your financial data from anywhere.

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Accounts
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Audit

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An annual audit can be a burden, sapping time, energy and money.

 

And it’s true that an inefficient audit, with inexperienced auditors, can be painful. That’s why our experts use their huge breadth of knowledge and years of experience combined with technology to make the process as efficient as possible.

 

As an ICAEW Regulated Auditor, we have experience conducting audits for all sizes and types of business across a broad range of sectors.

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Our Specialist Tax Services

‘No man in this country is under the smallest obligation, moral or other, so to arrange his legal relations to his business or to his property so as to enable the Inland Revenue to put the largest shovel into his stores’

​Lord Clyde in Ayrshire Pullman Motor Services & Ritchie v CIR

We recognise that business owners and private clients are keen to minimise tax liabilities in order to protect, grow and enjoy their hard earned wealth.

 

At Allens, tax advice is our main area of expertise; 3 of the 6 partners are Chartered Tax Advisers.

 

As an owner managed practice, we have the agility to deliver bespoke solutions in all areas of tax and understand that it is crucial to consider all your business and financial affairs in the round.

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Tax

Payroll

Allens Payroll guides you through the growing complexities of managing employee payments.

At Allens Payroll, we take the stress out of navigating complex payroll legislation and meeting stringent HMRC deadlines, ensuring compliance with the latest regulations.

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With the ongoing complexities of Auto Enrolment every employer must ensure eligible employees are enrolled in a workplace pension scheme. Our team, in collaboration with pension experts at Allens Private Client, provides end-to-end support, from selecting compliant schemes to assessing employee eligibility and managing all required legal communications.

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We prioritise compliance, ensuring accurate tax calculations, timely payroll processing, and adherence to obligations like RTI submissions, Auto Enrolment duties, and statutory pay. Our clear communication ensures clients are fully informed on their payment obligations and deadlines.

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Employee Ownership Trust (EOT)

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Introduced in the Finance Act 2014, by the UK Government, an EOT allows company owners to sell their business to their employees, without requiring any changes to the management structure, as the buyer is typically a trustee acting in the interest of all staff.

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This business structure allows employees to collectively have a controlling interest in the business, but they do not take direct ownership of any shares, as they are beneficiaries of the trust. Incentive share schemes (EMI etc..) can be used alongside an EOT if some level of direct share ownership is desirable going forward.

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​​Vendor benefits

  • Company remains independent, leaving vendors to create an enduring legacy

  • Time to complete is generally less when compared to third-party sales

  • Transaction expenses tend to be much lower

  • Sell at a fair market value with greater certainty of completion

  • No third-party buyers and no need to share information with competitors

  • Can benefit recruitment and staff retention

  • Sale of a controlling interest in a company to an EOT is exempt from CGT (Capital Gains Tax)

  • Sale proceeds do not deplete the Business Asset Disposal Relief (formally known as Entrepreneurs' Relief allowance)

  • Excess cash may be distributed to the vendors tax-free as part of the equity value.

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Employee benefits

  • May qualify for tax-advantaged share schemes such as EMI options (individuals) or Share Incentive Plans

  • Qualify for income tax-free bonuses up to £3,600 annually (National Insurance contributions apply)

  • Qualifying employees will share in the proceeds of any future company sale

  • Can provide long-term stable ownership which can preserve jobs

  • Employees can have 'a voice' in how the business is run, giving them a sense of fulfilment and achievement.

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We can support you with the following:

  • A professional valuation

  • Structuring and raising third party capital

  • Implementing tax-advantaged share schemes

  • Obtaining HMRC clearance

  • Drafting of documentation

  • Building and developing an employee ownership culture.

 

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EOT
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