The ending of any business, including self-employment, involves many formalities and can have serious financial consequences for those concerned.
It is worth mentioning here that even if the self-employed individual does not actually run a business, but their company has not yet been formally closed, they are still obliged to submit tax returns to the HMRC tax office. Only a formal de-registration of self-employment can exempt the individual from this obligation.
As part of our services related to the end of business activity, we offer:
The preparation of an appropriate financial and organisational plan
The settlement of administrative and tax formalities (Income tax, VAT)
Settlements for self-employed individuals are based on the self-estimates of your income (Self-Assessment). In order to self-estimate, the self-employed individual should make a statement of all of their income and costs related to running their business. The best way to professionally and comprehensively make full use of legislation, is to use the services of ABS Service Ltd.
Having previously experienced numerous delays in the completion of my accounts and submission to the relevant authorities by previous accountants, I have to say how much of a refreshing change it has been to have everything dealt with on time By ABS-Service Ltd.
I dreaded each quarter as it came around until I met with the team at ABS-Service Ltd. For the last couple of years all I have had to do is present my paperwork by an agreed date and everything is taken care of. We then had a further chat and I have been able to reduce my VAT bill by over 50%.
We've been dealing with ABS-Service Ltd for 3 years now and have always found their industry knowledge, expert advice and professional service provided by the 'Team' at ABS-Service Ltd a great resource for our company.