TT Accounting provides Accountancy and Tax Services. The St Albans based practice is run by a Christian qualified Accounting & Tax Technician who is licensed and regulated by the Association of Accounting Technicians. It is Tim's desire to serve satisfied customers, small or large, enabling them to keep accurate books of account so that they can see clearly how they have performed and where they are going.
Assisting clients with their reporting obligations of both Self Assessment Tax Returns to HMRC and filing accounts with Companies House to ensure they are compliant and pay the right amount of Tax.
Assisting clients with their reporting obligations of both Self Assessment Tax Returns to HMRC and filing accounts with Companies House to ensure they are compliant and pay the right amount of Tax.
Services
Tim comes from a farming background and graduated with an agricultural engineering degree in 1982.
After working as a field engineer in Shropshire and Northern Ireland, he then spent a number of years travelling the world, working in the Middle East, SE Asia, Australia, & New Zealand.
In 1987 Tim became a Christian and no longer felt comfortable working in the Financial Futures industry.
He switched to managing the settlements department of a Commercial Bank in the City of London.
After studying at Bible School, Tim worked with an Evangelical Church in Ireland in evangelism and youth work.
After working as a field engineer in Shropshire and Northern Ireland, he then spent a number of years travelling the world, working in the Middle East, SE Asia, Australia, & New Zealand.
In 1987 Tim became a Christian and no longer felt comfortable working in the Financial Futures industry.
He switched to managing the settlements department of a Commercial Bank in the City of London.
After studying at Bible School, Tim worked with an Evangelical Church in Ireland in evangelism and youth work.
The HMRC advert says, "Tax doesn't have to be taxing".
Unfortunately, for most people that is exactly what it is, and trying to work out completing a Self Assessment Tax Return is something that can easily end up being put off.
Some may even have several years of undeclared income.
Recently, HMRC were running campaigns to encourage people to come clean.
However, things are changing, and a new era of much heavier penalties is now coming into force.
People who once shrugged their shoulders at the odd 100 late filing penalty could soon find themselves with 1000 to pay!
Unfortunately, for most people that is exactly what it is, and trying to work out completing a Self Assessment Tax Return is something that can easily end up being put off.
Some may even have several years of undeclared income.
Recently, HMRC were running campaigns to encourage people to come clean.
However, things are changing, and a new era of much heavier penalties is now coming into force.
People who once shrugged their shoulders at the odd 100 late filing penalty could soon find themselves with 1000 to pay!
It is important to monitor your previous 12 months sales if you are near to the threshold so that you are aware when you need to register.
If you exceed the threshold without having registered, you will not only face penalties for late registration, but will also have to account for the VAT on sales after the threshold was exceeded.
It can take around a month for HMRC to issue a VAT registration so it is important to remember that VAT must be accounted for 30 days after the threshold is exceeded.
If you exceed the threshold without having registered, you will not only face penalties for late registration, but will also have to account for the VAT on sales after the threshold was exceeded.
It can take around a month for HMRC to issue a VAT registration so it is important to remember that VAT must be accounted for 30 days after the threshold is exceeded.
For Limited Companies and Limited Liability Partnerships you are required to file Annual Financial Accounts with Companies House within nine months of the fianancial year end of the business.
You may be able to file Abbreviated Accounts based on the size of the company.
However, for Limited Companies, you will also need a Full set of Accounts to be filed together with your Corporation Tax Return.
CT Returns are also expected to be filed with Accounts in the new iXBRL format.
Although the CT return is required to be filed within twelve months of the year end, the payment of tax is required within nine months so it would be advisable to complete both before the nine month deadline.
You may be able to file Abbreviated Accounts based on the size of the company.
However, for Limited Companies, you will also need a Full set of Accounts to be filed together with your Corporation Tax Return.
CT Returns are also expected to be filed with Accounts in the new iXBRL format.
Although the CT return is required to be filed within twelve months of the year end, the payment of tax is required within nine months so it would be advisable to complete both before the nine month deadline.
Calculating deductions of PAYE and National Insurance from the salaries and wages can be a headache, especially when things keep changing all the time.
Add to that SSP, SMP, SPP SAP, deductions for pensions, student loans etc. and the task becomes something many small businesses and employers could do without.
That is where the beauty of outsourcing comes in.
TT Accounting will provide you with payslips and simple reports to show what needs paying to whom and when.
We use the latest payroll software from Sage which is fully compliant with RTI (Real Time Information), the latest legislation and mandatory online filing requirements by HMRC.
Add to that SSP, SMP, SPP SAP, deductions for pensions, student loans etc. and the task becomes something many small businesses and employers could do without.
That is where the beauty of outsourcing comes in.
TT Accounting will provide you with payslips and simple reports to show what needs paying to whom and when.
We use the latest payroll software from Sage which is fully compliant with RTI (Real Time Information), the latest legislation and mandatory online filing requirements by HMRC.
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