Dale Pickard & Co. - Chartered Accountants - Altrincham, Cheshire, Manchester, Sale

Dale Pickard & Co. - Chartered Accountants - Altrincham, Cheshire, Manchester, Sale Dale Pickard & Co. - Chartered Accountants - Altrincham, Cheshire, Manchester, Sale Dale Pickard & Co. - Chartered Accountants - Altrincham, Cheshire, Manchester, Sale Dale Pickard & Co. - Chartered Accountants - Altrincham, Cheshire, Manchester, Sale Dale Pickard & Co. - Chartered Accountants - Altrincham, Cheshire, Manchester, Sale Dale Pickard & Co. - Chartered Accountants - Altrincham, Cheshire, Manchester, Sale Dale Pickard & Co. - Chartered Accountants - Altrincham, Cheshire, Manchester, Sale Dale Pickard & Co. - Chartered Accountants - Altrincham, Cheshire, Manchester, Sale Dale Pickard & Co. - Chartered Accountants - Altrincham, Cheshire, Manchester, Sale

 

Limited Company - The Story of George

George, a 29 year old who lives in Altrincham, decided to fulfil his dream and set up his own business buying and selling a product in an industry that he has worked in for many years. A business contact strongly suggested that he talked to Dale Pickard & Co as we are accountants who actively get involved with their clients.

At the free introductory meeting at our office in Sale, Manchester all the options as to how George could trade were explained, namely Limited Company, Sole Trader, Limited Liability Partnership and Partnership. Because of the perceived risk in George's industry it was decided he should trade through a Limited Company.

George decided to appoint Dale Pickard & Co as his accountants and at a subsequent meeting the formalities of forming the Limited Company, the appointment of Directors, shareholders, opening a business bank account and appointing Dale Pickard & Co were quickly completed. For tax planning and marketing it was decided to register the business for VAT and to form a payroll. George's wife was also to work in the business and would draw a salary to assist in reducing the couple's joint tax liabilities.

A week after the appointment of Dale Pickard & Co George, with his wife, visited our office for the bookkeeping meeting. Given the choice of Accounts software, Computerised Spreadsheets and manual records, George chose an Accounts software package. George's wife was already familiar with this and found it easy to adapt to their new business. During this meeting the whole process of record keeping was explained and demonstrated. Time was spent discussing the interaction of Employees' PAYE/NI, Dividends and Corporation Tax.

After the bookkeeping meeting George was pleased to know that over the next six months Dale Pickard & Co were readily available to help with any queries, a period that we call "hand holding". Throughout this meeting and future contact, tax planning was at the top of the agenda. Our principal aim is to ensure:

Your hard earned income is retained by you and not taken by the tax man

 

Rental Property - Mark & Helen

Mark and Helen live in Old Trafford and are both employees. Helen works part time. They decided to move to Altrincham due to their growing family. As they could not sell their existing house in Trafford they decided to rent the property out. A close family contact recommended Dale Pickard & Co based locally in Sale.

At the free introductory meeting at our office in Sale, Manchester, we explained the different forms of rentals including Holiday lets, Furnished and Unfurnished residential lets. Importantly the Principal Private Residence issue was covered in detail. Advice was given on the use of letting agencies, the Government's rental deposit scheme and void periods. Tax planning regarding mortgage allocation and ownership were covered and how rental property is taxed. Both Mark and Helen would need to submit a self assessment Tax Return (SAR).

Because of the family recommendation and the friendly nature of Dale Pickard & Co, Mark and Helen decided to appoint Dale Pickard & Co.

After a few days, Mark and Helen returned to our office for the bookkeeping meeting. It was decided that a simple manual cash bookkeeping system was the most appropriate. During our meeting the whole process of record keeping was explained and demonstrated. Additionally, many tax issues were covered including PAYE/NI, Benefits in Kind (BIK), wills, Inheritance Tax, pensions, savings and family tax matters. After the bookkeeping meeting Mark and Helen were pleased to know that over the next six months Dale Pickard & Co are readily available to help with any queries, a period that we call "hand holding". Throughout this meeting and future contact tax planning was at the top of the agenda. Our principal aim is to ensure:

Your hard earned income is retained by you and not taken by the tax man

 

Sale of Business - Michael & Denise

Michael and Denise, who live in Brooklands, have a business based in Hale. They have been clients of Dale Pickard & Co for 17 years. As retirement age was not too far away they decided to sell their business.

At a meeting some 14 months beforehand, a plan was devised and put into action. Agents were found to market the business to outside parties. Eventually a buyer was found who was prepared to pay the required price and agree to the terms of the sale. A Heads of Agreement was drawn up to ensure both parties agreed to the important issues about the sale/purchase. At this point we recommended a firm of solicitors to assist with the legal documents.

As this was the first time that Michael and Denise had been involved in a sale/purchase of a business they needed to be guided through the process. Capital Gains tax (CGT), entrepreneur's relief, pensions and family tax was of great concern to them. We also advised that the solicitors should update their wills at the same time to take account of their new circumstances.

Throughout the process of negotiations, terms of sale, discussing warranties and indemnities, approval of contracts and completion accounts, we worked closely together as a team.

At the completion of the sale we were also able to recommend a Financial Advisor to assist Michael and Denise in investing and protecting their cash proceeds. Michael and Denise were extremely grateful for the help in the past few months and to know that Dale Pickard & Co is readily available to help with any future queries. Throughout the Sale of the business and future transactions tax planning was at the top of the agenda. Our principal aim is to ensure:

Your hard earned income is retained by you and not taken by the tax man

 

Sole Trader - The Story of Alison

Alison Is 36 years old, lives in Urmston and recently opted for voluntary redundancy. Alison decided to form her own business as a self employed individual, rather than apply for a new job. After seeking advice from friends she was strongly recommended to talk to Dale Pickard & Co, Chartered Accountants.

At the free introductory meeting at our office in Sale, Manchester, we explained all the methods by which Alison could trade, gave advice on business tax, VAT and family tax matters. At the free introductory meeting Alison decided that her best option was to operate as a sole trader. Alison trades in a low risk business and wanted to keep her affairs as simple as possible. It was not beneficial for Alison to be VAT registered and with no employees no payroll was required. Keeping Alison's affairs simple was important to her.

As Alison was trading as a Sole Trader we needed to ensure she fully understood her potential tax liabilities and when they became payable. Class 2 National Insurance is payable monthly, by standing order, and is relatively a small amount. Class 4 National Insurance is paid in two instalments in January and July each year. Income tax is also paid in two instalments each year, January and July. Based on Alison's projected profits we were able to provide estimated future tax bills for both National Insurance and Income Tax. This was of great importance to Alison.

Alison decided, due to the reputation of Dale Pickard & Co and following the friendly free introductory meeting, to appoint Dale Pickard & Co.

After a few days Alison returned to our office for the bookkeeping meeting. Of the three choices, Accounts software, Computerised Spreadsheets and manual records Alison chose Computerised Spreadsheets. During this meeting the whole process of record keeping was explained and demonstrated. Additionally, many tax issues were covered including PAYE/NI, Inheritance Tax, Rental property, pensions, savings and family tax matters. After the bookkeeping meeting Alison was pleased to know that over the next six months Dale Pickard & Co are readily available to help with any queries, a period that we call "hand holding". Throughout this meeting and future contact tax planning was at the top of the agenda. Our principle aim is to ensure:

Your hard earned income is retained by you and not taken by the tax man

 

Changing Accountants - Jack

Jack, who lives in Manchester, operates his business through a limited company. He has been with an accountant for three years but experienced various problems. He was concerned that changing accountants would be a complex issue. After talking to friends he was recommended to contact Dale Pickard & Co.

At the free introductory meeting at our office in Sale, Manchester, we explained how simple it was to change accountants. There would be no cost to Jack and simply involves Dale Pickard & Co contacting the previous accountants for standard information. Indeed the whole process took less than four weeks. To Jack's relief it was simple, quick and cost free!

On our appointment we were quickly able to review the main items of concern to Jack; IR35, PAYE/NI, dividends and travel expenses. Additionally, there were family tax issues with spouse's earnings and transferring income from a higher rate tax payer to a lower rate tax payer. Jack also had additional income from a rental source, previously undeclared, and we recommended a voluntary disclosure was made to HMRC. Jack was pleased to know that Dale Pickard & Co is readily available to help with any queries, a period that we call "hand holding". Throughout the appointment process, addressing Jack's concerns and future issues, tax planning was, as always, at the top of the agenda. Our principal aim is to ensure:

Your hard earned income is retained by you and not taken by the tax man

 

CIS Subcontractor - Steve

Steve, who lives in Altrincham, was setting up his own business in the building industry as a subcontractor. After talking with his friends he was recommended to contact Dale Pickard and Co, Chartered Accountants.

At the free introductory meeting at our office in Sale, Manchester all the options as to how Steve could trade were explained, namely as a Limited Company, a Sole Trader, Limited Liability Partnership and Partnership. Because of the industry he is in it was decided to set Steve up as a Sole Trader operating under the Construction Industry Scheme (CIS scheme).

We discussed how the CIS scheme worked in detail. Deduction of tax at source meant, in Steve's case, he could expect a tax repayment at the end of each tax year. Therefore it was very important that Steve's Sole Trader accounts were prepared as close to his financial year end as possible.

Steve decided following the friendly free introductory meeting to appoint Dale Pickard & Co as his accountants.

After a few days we visited Steve at his Altrincham home for a bookkeeping meeting. Of the three choices, Accounts software, Computerised Spreadsheets and manual records, Steve chose the manual system using a cash book. During this meeting the whole process of record keeping was explained and demonstrated. Additionally, many tax issues were covered including VAT, employees and payroll, CIS tax, National Insurance, pensions, savings, family matters, wills and Inheritance Tax. After the bookkeeping meeting Steve was pleased to know that over the next six months Dale Pickard & Co are readily available to help with any queries, a period that we call "hand holding". Throughout this meeting and future contact, tax planning was at the top of the agenda. Our principal aim is to ensure:

Your hard earned income is retained by you and not taken by the tax man

 

Tax Enquiry - Richard

Richard, who lives in Stretford but works in Altrincham, has been trading for many years. Until HMRC opened an enquiry into his personal and business tax affairs he was happy with his existing accountant. The worry and concern over the Tax enquiry caused problems. He sought the opinions of fellow colleagues and decided to approach Dale Pickard & Co.

At the free introductory meeting at our office in Sale, Manchester we carefully listened to the problems and concerns of Richard. On the personal side it involved a foreign bank account and undeclared investment income. The enquiry into Richard's business affairs included staff P11D benefits, use of company vehicles, travel expenses, employment of relatives and personal expenses being processed through the business.

Had Richard already been a client of Dale Pickard & Co he could have opted to pay a small additional fee and taken the "tax investigation insurance". The insurance would have covered all the cost of such an Enquiry.

Richard decided following the friendly free introductory meeting to appoint Dale Pickard & Co. because of their experience in the area of tax investigations.

The process of changing accountants was a lot simpler than Richard had expected. At our next meeting we reviewed all the tax issues. It was important for Richard that the enquiry was closed as soon as possible. We required a lot of additional information from Richard which enabled us to approach HMRC with an estimate of the additional tax that was due. After a short while we were able to agree an offer from HMRC with limited penalties and interest. Richard was delighted how we fought to protect his interests and how we "held his hand" throughout the Tax enquiry. Our principal aim is to ensure:

Your hard earned income is retained by you and not taken by the tax man

 

Personal Tax- Alan

Alan who lives in Altrincham phoned Dale Pickard & Co for personal tax help. He was not sure if an accountant was relevant for him. After a brief telephone discussion Alan was put at ease and a meeting was arranged later that week.

The meeting was held at Alan's home in Altrincham. Alan felt that his income and investments may not warrant the appointment of an accountant. We went through Alan's and his wife's income and savings. It was clear Alan should have been submitting a Self assessment Tax Return (SAR) for some years. Also there was a clear lack of tax planning by using his wife's lower tax free and lower rate tax bands. Particular attention had to be given to Inheritance planning and the requirement for updated Wills.

After our appointment Alan visited our office in Sale. A local solicitor in Altrincham was recommended to help draft new Wills. We worked on the SAR's that had to be done as well as reorganising Alan's investments in a more tax efficient manner. Alan was impressed that our fee was significantly less than the tax saving he would make in the first year. Alan was embarrassed that he felt that he would not be of interest to an accountant- he now knows otherwise. This is a classic case where a brief chat on the telephone can clarify matters for prospective clients. We do not charge for phone calls, talk to us, and let us guide you as to whether we can be of help or not.

Throughout this meeting and future contact tax planning was at the top of the agenda. Our principle aim is to ensure:

Your hard earned income is retained by you and not taken by the tax man