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Statutory and voluntary audits for companies and groups
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An audit is undertaken annually to validate an organisation’s underlying accounting records. A detailed process is followed to enable the auditor to express an opinion on whether the financial statements give a true and fair view.
Companies that exceed two or more of the below criteria for two consecutive years are legally required to have a statutory audit of their company:
- An annual turnover greater than £10.2 million
- Gross assets greater than £5.1 million
- More than 50 employees on average
Outside of these thresholds, firms may elect to have an audit to give peace of mind and improve stakeholder confidence.
The Companies Act details requirements for annual financial statements, director responsibilities, and disclosure of information.
We are experienced in auditing SMEs adopting FRS102 within the retail, manufacturing, construction, leisure and charity sectors.
We also audit groups of entities and have experience in auditing UK subsidiaries of foreign groups, reporting under IFRS.
When choosing Bishops Audit Limited, your service will be led by an FCA qualified director and we endeavour to ensure continuity of staffing each year. This means we will waste no time with irrelevant requests from trainees. Our processes are designed to ensure the audit is as smooth as possible, in line with a timescale agreed at the outset of the assignment.
Our experienced team are based in Blackpool in the North West of England but we can service audits remotely using the latest collaboration technology.
For more on our processes, click here.
Corporation tax
Corporation tax reliefs and rates change annually, so we ensure that we can provide all the right guidance and advice when looking at exemptions, allowances and deductions that may be available.
We will thoroughly review and prepare corporation tax returns in great detail in order to ensure you are complaint and that you don’t incur any penalties.
Self assessment
Our tax services make sure that your tax liability is calculated taking into account all allowed exemptions and deductions. We simplify the process by using accountancy software to accurately complete tax returns and calculate any tax liability that may occur, along with any payments that need to be made.
Capital gains tax
You may be looking at investments, a second property or another asset and our team can make sure you maximise your exemptions while simplifying the difficult area of capital gains tax.
Personal tax planning
[insert firm name] can help with the complex issue of personal tax, we know it can be difficult to understand, which is why we help every step of the way. We take away the time and stress by creating a tax planning strategy that suits your tax affairs, helping ensure you pay the least amount of tax. Our team will advise when payments are due along with what forms need to be filed and returned to keep you compliant.