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Companies House to resume the compulsory strike off process

From 10 October 2020, Companies house will resume the process to strike off companies they believe are no longer carrying on business or in operation

Around April 2020. companies house had introduced a temporary easement measures due to Covid-19. this has been lifted now following monthly reviews.

Companies house will be resuming the process to remove the company if they are non compliant or not carrying out the operation.

Normally those companies which do not file their annual accounts or confirmation statements will receive two letters from companies house to ensure the company directors comply or update the information. After this, the notice will then be published in the Gazette to inform the public that the registrar intends to strike off the company.

After the striking off action resumes from 10 October, unless there are any objections to dissolution after 2 months of the notice being expired, the company will be struck off.

If your company has not complied in terms of filing or if you need support with this, Mayfair Tax Advisors is happy to assist you throughout the process so as to avoid the unnecessarily hassle of dissolution. Ones the company is dissolved, your bank accounts and all the company assets will be frozen.

For any support or advice, please call us on 077 8384 5534 or 0207 193 8157 email on info@mayfairtaxadvisors.co.uk

Companies house deadline extended

Companies house has extended the accounting period for further 3 months

We are so happy for all the clients that perhaps first time in history companies house have extended the accounts filing deadline by 3 months.

Please do not forget to call us if your accounts are due and you need sort of support in terms of book keeping, preparing and submitting accounts in companies house or HMRC, filing VAT returns including both normal and MTD filings, filing payroll RTI monthly or for any other enquiries relating to your CT, VAT or PAYE.

We are more than happy to support, please call us on 0207 193 8157 or email us on info@mayfairtaxadvisors.co.uk

We are expanding above and beyond

Mayfair Tax Advisors has a vision to become one of the top 100 accounting firm in the next five years. Hence we are adding all the value added services in our service category so our clients can look no further for all accounting, finance related solutions.

We are partnering with many other firms and expert advisers so we can provide you the best solutions to your problem.

We are opening our branches in every major city of UK and has a vision of opening our next branch internationally by the end of 2020. Our expert in-house staffs are working very hard to make this dream come true.

We would like to thank everyone for their effort, knowledge and expertise in taking us a step further every year.

Please click on our Video to watch for the services we provide. We believe in doing than just talking.

Is debt funding right for you?

We have seen many clients use debt as one of the funding method. This is obvious in many businesses. We have seen many businesses going into administration because they are unable to repay their loan.

We always advise our clients, we plans debt funding to be aware and conscious of the cashflow and the pay back period. Every businesses should follow “cash is king” mentality and it is. it can create a complete chaotic situation if this cannot be managed well.

Plan ahead for the next 3-5 years before you apply for debt whether the business will be able to fund it and decide accordingly.

If you need help please contact us on 0207 193 8157.

The 5 most regular questions clients do ask

Every businesses has their own framework and blueprint. But the basics of business remains the same. We can call it the business DNA. Every time we talk with the client, the problems resonate to each other businesses although they are entirely different and completed unrelated.

Below are the 5 most frequently asked questions about their business;

  1. How to manage next months payroll? – Working Capital issues
  2. The VAT money has been used up, what can we do? – Cashflow problem
  3. Can I pay my employees on the third week of next month? – Trust issues
  4. How much is my cost per hour – Lack analysis
  5. Can we voluntarily wipe the creditors? – survival issues

If you are facing similar hurdles in the business, you need to call us now on 0207 193 8157

What expenses can be claimed by a sole-trader?

Both Limited company and Sole trader can claim similar expenses for sure as long as it is wholly substantially occurred in the business process.

Many people from all different background has confusions on this point and it happens every year when the tax return filing time comes nearer and the sole trader clients especially starts thinking this and that and will start confusing themselves about the claimable expenses.

Below are the few expenses which can be claimed without any questions:

  1. Travel expenses (everything apart from ordinary commuting)
  2. Subscription paid for the business
  3. IT expenses for business.
  4. Meeting expenses and lunches
  5. Laundry expenses
  6. Tools and equipments if purchased
  7. Repairs and maintenance
  8. Stationery and postage
  9. Courier charge
  10. Employees wages
  11. Director wages
  12. Capital items like laptop, cameras etc purchase
  13. Office Rent
  14. Utilities, water, light and heat
  15. Business rates etc etc

If you can confusion on what can be claimed if your confusion is apart from the above mentioned expenses, please call us now on 02071938157 or email on info@mayfairtaxadvisors.co.uk

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About Us

After being in the practice for more than a decade, we found out that when it comes to taxes almost every clients are paying more than they are supposed to. Their traditional accountant were not up to date with the rules and it was costing the client heavily in terms of taxes. Hence we incorporat..