Elemental CoSec can act as a ‘one stop shop’ for your UK tax and accounting compliance needs. In addition, we provide bespoke planning and consulting services to make sure you don’t pay any more tax thank you need to. We are pro-active in presenting opportunities to our clients and well experienced at fostering productive relationships with HMRC.
Our services are provided by chartered accountants and charted tax advisors who have a wealth of experience across the UK regulatory regime. We are confident in our ability to know what is needed therefore most of our services are provided on a fixed fee basis. However we do need some more information about the company first so please get in touch.
Our qualified accountants will prepare accounts for a variety of UK companies, partnerships, registered branches and sole traders. When audits are required we work closely with a small panel of audit firms and manage the audit process to ensure the audit is finalised in a timely manner.
We will work closely with your management and internal team to ensure that the accounts are completed and signed off in a timely and efficient manner.
Good financial records form a solid foundation for financial reporting and decision making. Our qualified bookkeepers use a cutting edge cloud-based software platform which keeps costs down and allows users to interact with and analyse the data in real time from anywhere in the world.
Combined with a detailed knowledge of practical management accounting, we are able to take the administrative strain off your staff.
Corporation Tax Compliance
Good corporation tax compliance means getting it right first time and avoiding time consuming and nerve racking tax investigations in the future. Our experts have years of experience dealing with HMRC and understand what disclosures are required and which claims, elections and allowances are available to minimise your tax liability. Due to economies of scale corporation tax compliance is often bundled with accounts preparation and can be done on a fixed fee basis.
Corporate Tax Advice
Our experts offer a full range of corporation tax advisory services, including pre-incorporation structuring, reorganisations and refinancing; advising on corporate residency issues and the applicability of double tax treaties; and research and development tax credits for innovation and technological advances
Partnerships and LLPs are a common business structure in certain industries, and can be used advantageously in tax planning scenarios. We can help with registering, accounting for, and preparing tax returns on behalf of the partnership and its individual partners.
Whatever your business structure, profit extraction should always be at the back of your mind.
Our experts can help you make sure you extract the maximum profits from your business with minimum tax leakage.
Unless it can be recovered, VAT can be a significant business expense. Similarly, a failure to correctly charge VAT on your supplies can be ruinous – the supplier will be expected to make good to HMRC any VAT that should have been collected from the customer, and may also face a significant fine.
Often the position is straightforward but our team can help you spot and avoid any issues before they arise. In more complicated cases we can suggest a way of doing business which helps VAT recovery and improves cash flow.
We offer a fully functioning payroll outsourcing function. Each month we will calculate how much tax you should withhold and make sure that you pay the correct wages to your employee and the correct taxes to HMRC. We prepare and file the monthly reports to HMRC and provide employee payslips and employer summaries. In addition we prepare and file the annual returns, and supply annual statements of salaries and benefits to employees are required by law.
VAT Registration and Compliance
VAT applications can be complicated, especially for businesses with overseas directors or those operating across several jurisdictions.. Due to the risk of VAT fraud, HMRC reviews VAT applications and returns carefully therefore care should be taken to ensure that the documentation is properly prepared and easily substantiated.
We can process your VAT registration paperwork and accurately prepare and submit VAT returns on your behalf