Specialists in Accountancy for the Retail Sector

Our Services

Our role as tax advisors is to work closely with you, to ensure you pay the minimum tax required by law. We will help you to understand the tax implications of your actions in order that you can plan ahead and conduct your affairs in a tax efficient manner.

Tax Compliance

We can help you with all or any of your tax compliance needs. There is an ever increasing burden on the taxpayer to file returns on time and pay liabilities promptly and to be an unpaid tax collector for PAYE, tax, national insurance contributions, VAT, etc. We can assist in relieving you from some of these responsibilities thus allowing you to get on with the important role of running your business profitably.


Tax Planning

Efficient tax planning is invaluable in managing your tax liabilities. We are able to spot and advise on tax planning opportunities for a range of taxes. Good advice at the right time can save you money. Some of the many areas we can assist you with are:

  • Personal tax planning, completion of tax returns
  • Corporation tax compliance and planning
  • Partnership tax
  • Trusts and estate (inheritance tax) planning
  • Retirement planning and capital gains tax
  • Value added tax, preparation of VAT returns, VAT planning, VAT health checks

HMRC Investigations

Being the subject of a tax investigation by the HMRC can be a stressful and worrying experience. With the onset of personal and corporate self-assessment, Revenue staff can now review cases on a 'sample basis'; consequently, tax investigations have become more frequent. We have a wealth of experience in dealing successfully with Inland Revenue investigations, whether they are enquiries into an individual’s Tax Return under the Self Assessment regime, more detailed enquiries or employer-related investigations into PAYE and P11d compliance.


 

Administering payroll is often a lengthy and arduous task, which diverts energy and resources from the core activities of your business. It is not helped by the growing complexity of taxation and employment legislation and the accompanying regime of penalties for non-compliance. We have dedicated staff that can relieve you of this burden by providing a comprehensive and confidential payroll service, including:

  • Production of payslips and standard reports
  • Administration of PAYE, national insurance, statutory sick pay, statutory maternity pay, etc
  • Completion of statutory forms, including year-end returns, to issue to your employees and submit to HM Revenue & Customs
  • Summaries and analyses of staff costs
Even if you have only a few employees, you will make savings by engaging us to administer your payroll
 

Any successful business requires constant assessment and development to ensure that it continues to operate profitably and efficiently. A dynamic management team needs to make the right decisions based on up to the minute information.

At PR Patel & Co, we aim not only to provide the latest information but also act as an extra member of the management team. We actively assist clients in setting up reliable accounting systems and establishing key business controls based on our experience of businesses. We provide regular management information that is crucial to monitoring a business, including the provision of management accounts, which incorporate comparisons with budgets and trend analyses.


 

We firmly believe that significant benefits can arise from an annual audit for small and medium sized businesses. Part of the objective of an audit is to ensure you remain compliant with the statutory requirements. However, we also consider this an invaluable opportunity for us as auditors to analyse your business strategy as well as the financial and management systems you have in place.

Our experience in this field has assisted us in advising clients improve performance and efficiencies within their organisation.