FID Trust International

For Limited Companies

Accounting, VAT and Taxation, which rely on the regular recording of your business’s financial dealings, are the foundation of our business. The Companies Act places a duty on the directors of UK companies to keep proper books of account so these records can disclose with reasonable accuracy the financial position of the business. Ensuring that these books are in order and conform with the legal requirements is our business.

Regular financial reports are vital for you to maintain control over the finances of your business and ensure that it is trading profitably.

So many people mix and misunderstand proper bookkeeping with record-keeping. Just maintaining proper books or having bookkeeping software doesn’t mean that you have reasonable accuracy of your financial position or fill your statutory requirements. Proper bookkeeping have the essential elements of control of the financial health of your business and if you decide to appoint us to do this job you will have:

  1. control of your purchases / stock,
  2. preparation / dispatch of the invoices,
  3. credit control / debt collection control,
  4. cash and bank balances management,
  5. all company liabilities settlement through organized payment system,
  6. as the foundation of the accounting / VAT / Taxation will be completed at bookkeeping stage – reduced bills for Accounting / Audit,
  7. completed responsibilities of the directors to the Companies Act,
  8. assisted by our accountants decision making process (which will be made on the proper bookkeeping),
  9. controlled capital expenditure,
  10. good relationship with bankers as your accounts will be managed.

Please contact us by telephone 0207 439 3400 (0044 207 439 3400 – International) or E-mail if you wish to order our  Bookkeeping Service.

For Contractors

As a contractor, you may be required to fill in timesheets or produce invoices detailing the work you have done for your clients.

Most timesheets are paper-based, although some Internet-based companies will be offering online versions soon. These will allow online timesheet creation and verification followed by an automatically generated invoice.

In maintaining your finances and keeping them up-to-date, we will give you pro-active tax and bookkeeping advice and timely service. Rely on us to do your paperwork – you won’t be disappointed. Most clients and agencies will require an invoice to accompany each timesheet, detailing the full amount billed for services completed, plus VAT (if the company invoicing you is registered). When some of the larger companies receive your authorized timesheet, they will offer a self-billing option in which they will create an invoice on your behalf. Although payment times vary from agency to agency, larger agencies tend to pay promptly (some within seven days). You shouldn’t experience any payment delays; if you do, chase up the agency/client.

It is essential to keep your timesheets and invoices updated, ensuring they are sent in at regular periods. The responsibility for these matters rests with you; if you manage your own limited company, you are a “finance director”, and, as a contractor, in charge of your company affairs. These tasks will become second-nature after a while. Umbrella companies usually perform these administrative tasks on your behalf.

Individual jobs or pieces of work are usually at a fixed price or at an hourly rate. Make sure you keep a copy when you invoice your client and then make sure you schedule reminders if you are not paid within your specified time limit.

Please contact us by telephone 0207 439 3400 (0044 207 439 3400 – International) or E-mail if you wish to order our  Bookkeeping Service.

For Sole-Traders

This information is for those who prefer to spend more time with profit-related business than routine paperwork.

Fees start from £110, which is very cost-effective. Our office completes runs payrolls and vat returns, raises invoices, and completes all bookkeeping tasks for businesses throughout the UK. In some cases it can be up to 60 percent cheaper to ‘outsource’ your office work to us, instead of employing a new staff member and additional office space.

For those, such as the self-employed, who prefer someone else to monitor their paperwork, the full service consists of the following, though clients may pick and mix one or more of these services to suit their business requirements:

  1. Prepare and dispatch all invoices under your business name.
  2. Run all the accounting ledgers like sales, purchases, journals etc...
  3. Complete the quarterly VAT return.
  4. Prepare the weekly/monthly payroll, and issue pay slips under your business name.
  5. Compile the payroll year and ensure returns are completed.
  6. Prepare and compile the business year and accounts.
  7. Compute and compile business and personal tax returns.
  8. Prepare management accounts monthly, quarterly etc...
  9. Business planning.
  10. Business forecasting.
  11. Business plans and cash flow forecasts – ideal for start-ups and for presenting to the bank when you need a loan etc...

Bookkeeping for Sole – Traders is a straight forward work and can be kept to a minimum (if no employees) but every Sole-Trader has to be careful that he does not foul under the IR35 regulation. The IR35 rule simply states that “if they look like an employee, then they are an employee”. It was introduced to prevent contractors working for a single client for long periods of time, effectively acting as employees but invoicing as sole traders or single-employee Limited companies.

Sole traders are responsible in keeping track of monthly income and expenditure, which means holding on to all invoices and receipts. To prevent any hassle, simply talk to the IR about National Insurance contributions. The best way to handle this is by setting a Direct Debit. The amounts are small. A computerized spreadsheet is most appropriate, containing columns for income, expenditure and VAT (if you’re VAT-registered).

You can also keep track of all invoices, as well as the dates they were issued and paid. If you work from home, some of your household expenditure can be tax-deductible and all you have to do is talk to us and will handle your problems. We will provide you with all the information you’ll need to fill in the Tax Return form each year. You may then try calculating the amount of tax you owe yourself or send the form to the IR and have them do it for you.

If you would like a quote, please use our contact page above, and complete the form describing the services your business could benefit from.

Please contact us by telephone 0207 439 3400 (0044 207 439 3400 – International) or E-mail if you would like a quote.

For Partnerships / Limited Liability Partnerships

Reliable, accurate and timely, financial services can benefit any partnership. It’s true that there are so many bookkeeping software’s on the market that promise to make bookkeeping easy, however, they only take longer to draw up your accounts and increase accountancy bills. Plus – if you do not broadly understand what this software does, how transactions are distributed between the ledgers (see our FAQ page) then you can get into real trouble.

You have to be constantly busy with your business and we have to be constantly useful by making you free from paperwork by:

  1. sales day books,
  2. cash and petty cash books,
  3. establishing and maintaining records,
  4. preparing VAT,
  5. credit control,
  6. preparing invoices.

In addition, as your bank and cash books are written up from basic records, it will be easy for bank and cash reconciliation, control of the purchase orders and invoices machining, sales ledger control, to answer any questions about invoices, wages control and so on.

If your business needs, we can undertake other services including Payroll and VAT returns.

Please contact us by telephone 0207 439 3400 (0044 207 439 3400 – International) or E-mail if your business needs, we can undertake other services including Payroll and VAT returns..

For Charities / Non-Profit

When financial problems arise – they are practically invisible. Nothing changes in your organization, nothing attracts your attention and in practice it is only a small number in some book or ledger. This can go undetected for a long time seeing as it hasn’t yet spread to your activities. Consequences will be big and it will take a long time to solve it. To handle it, all you need is proper bookkeeping. Look at the FAQ page for Charities – everyone will be amazed by the amount of paperwork which can shore any vision on the practical financial situation. It takes ages to study and practice in order to understand what is actually happening behind all these figures and our bookkeeping service for Charities and Non-profit organizations with their monthly or quarterly reports is created especially for handling any problems.

Bookkeeping is a first step to:

  1. Charity accounts management.
  2. Raising finance.
  3. Financial planning.
  4. Management of annual accounts tax return.
  5. And much more.

Please contact us by telephone 0207 439 3400 (0044 207 439 3400 – International) or E-mail if you would like a quote.