Payroll

Our expanding Payroll Department

Paying your employees the correct wages on time is a must for any business. Changing tax and employment legislation and fines for non-compliance can make in-house payroll a time consuming, complicated and stressful task for small businesses.

Here at CMS we understand the importance of paying your staff the right amount of money, at the right time. Besides processing weekly, fortnightly, 4-weekly or monthly payroll, we manage the provision of pay slips, P45 and P60’s and auto-enrolment and can organise all statutory payments, holiday pay, bonuses, overtime and pay rises.

We have experience helping new businesses and startups with a small number of employees as well as established licensed trade businesses with larger numbers of staff. We ensure all payroll procedures and documentation is submitted and filed with HMRC on time and our knowledgeable and experience payroll staff are on hand to advise on any queries you or your staff might have.

To talk through our business payroll services, please call us on 0121 730 2269 or email payroll@cmspubaccountancy.co.uk.

Rates and Thresholds for Employers Download

HMRC Registrations for VAT, MGD and Self-Employment

Taxation Specialists ready to support your business

Registering for VAT, MGD or Self-Assessment can be complex and lengthy procedures for owners and tenants of licensed trade businesses. Here at CMS, we are experts in pub accountancy and will complete the necessary registrations and ensure you submit the correct information required on time.

If you’re self-employed you are required to register for Self-Assessment and Class 2 National Insurance as soon as you can after starting your business to make sure you’re paying the correct amount of Income Tax and National Insurance.

As a VAT registered business, you are responsible for charging the correct amount of VAT, keeping up to date VAT records and a VAT account, submitting VAT returns and paying any VAT due to HMRC. Your VAT Return must record things for the accounting period such as your total sales and purchases, the amount of VAT you owe and the amount of VAT you can reclaim.

Machine Games Duty (MGD) must be paid by those who have on their premises machines that give cash prizes such as slot, fruit and quiz machines. Your takings from machine games will be exempt from VAT if you pay MGD. If you’re responsible for MGD you’ll need to register, send regular returns, pay duty and keep records.

For further information on VAT, MGD or for Self-Assessment registrations, please call us on 0121 730 2269 or email enquiries@cmspubaccountancy.co.uk.

Profit and Loss Accounts (Monthly / Quarterly)

Building clarity in your accounts

A profit and loss account (P&L) details your business’s trading and is a management tool to assess your business profitability over a period of time. It lists the business’s income less its expenses. To create a profit and loss account you need accurate details of your sales, direct cost of sales and of your business spends. Our staff can help you to acquire this information and using the P&L, come up with strategies to improve the profitability of your business.

Need help building profit and loss accounts to assess your pub’s profitability? Please call us on 0121 730 2269 or email enquiries@cmspubaccountancy.co.uk.

On-Site Business Reviews

Reactive support, proactive planning

Whether you’ve recently started running your own pub or have been in the industry for many years, it doesn’t harm to have a fresh pair of eyes look over your business. We have experience working with various licensed trade establishments from pubs and clubs, to restaurants and hotels. We therefore know the do’s and don’ts when it comes to running a successful business.

For an honest and independent financial review of your licensed trade business and advice on boosting profitability, please call us on 0121 730 2269 or email enquiries@cmspubaccountancy.co.uk.

VAT Planning, Administration and Returns

Saving you time and money

You’ve got to know what you’re doing when it comes to VAT returns. Which is why it’s best to leave it to the professionals. If your business is registered for VAT, you are required by law to fill in a VAT return, usually each quarter, and inform HMRC as the amount of VAT you’ve charged on sales and the amount you’ve paid out on your own purchases. Acquiring these figures can be time consuming, and as a pub landlord or owner, is often a task that gets pushed aside. Our team of expert accountants can assist you with your VAT planning, administration and payments, ensuring you pay the correct amount of VAT on time to avoid penalties from HMRC.

For help with your VAT planning and administration or to discuss your tax returns in more detail, please call us on 0121 730 2269 or email enquiries@cmspubaccountancy.co.uk.

Year End Accounts

Attention to detail guaranteed

The end-of-year accounting process can be daunting to any business but is a mandatory requirement and their accuracy is critical. It’s necessary to collate various sources of information from the company’s financial records to prepare your annual accounts at the end of your company’s financial year. As you can imagine this can be a daunting task, so you’re safe in the knowledge we can handle the whole process to the highest standard

For support preparing your company’s annual accounts, please call us on 0121 730 2269 or email enquiries@cmspubaccountancy.co.uk.

Stocktaking Services

Keeping you in control

It is very important that your alcohol and food sales are monitored on a regular basis as this allows you to stay in control of your business and increase your profit margin. Taking regular stock audits besides other things can identify what your biggest sellers are, how much you are wasting, if your price list is up to date and whether you’re losing stock. Our specialist stocktaking equipment is used to create fully itemised and accurate stock reports, the information from which can be used by licensees to better manage stock, plan and react to trend patterns as well as to increase profit margins.

To learn more about our stocktaking services and for help improving your stock management and profit margins, please call us on 0121 730 2269 or email enquiries@cmspubaccountancy.co.uk.

Personal and Company Taxation Services

A simple way to stay compliant

Whether you trade as a sole trader, partnership or a limited company, you are required to pay a number of taxes to HMRC.  These taxes include VAT, MGD, PAYE (income tax and National Insurance), personal tax (sole trader and partnerships) and Corporation Tax (Ltd Company) which is an amount of tax paid by businesses dependent on their taxable profits. Business employees, directors and shareholders may also have to pay income tax and National Insurance.

For help managing personal and company taxes within your business, please call us on 0121 730 2269 or email enquiries@cmspubaccountancy.co.uk.

HMRC Advice and Negotiations

Giving you confidence and security

You not alone in finding tax matters confusing. Here at CMS it’s our job to help you in running a successful licensed trade establishment which is why our team of specialist pub accountants are here to advice you on any tax and HMRC issues that arise. And since our team deal with HMRC on a regular basis, they are the ideal people to have any conversations with HMRC and manage any complex negotiations on your behalf.

To arrange a confidential discussion with a member of the team to talk through your tax queries, please call us on 0121 730 2269 or email enquiries@cmspubaccountancy.co.uk.

Business Plan Completion

Secure investment for the future

A business plan is a written document that defines what your business will achieve and your details how you plan to go about achieving it by including information such as your business purpose, your sales and marketing strategies and financial forecasts. Often required to secure investment and financial support, a good business plan will clarify your business idea, identify any potential issues, set goals and measure your progress.

Our staff here at CMS know all there is to know about writing business plans and have experience writing business plans for a range of licensed trade businesses, both large and small. They can assist you in building a complete business plan; they know exactly what needs to be included and will identify specific objectives that can be measured for success.

For help building, completing or reviewing your business plan, please call us on 0121 730 2269 or email enquiries@cmspubaccountancy.co.uk.

Financial Health Checks

Optimising your business growth

You could liken a business financial health check to a medical health check or car MOT. It’s a good idea to check things are in good working order every once in a while. Financial health checks determine if your finances are in a healthy state and can identify any issues affecting your business and profit margins.

As part of our in-depth financial assessment, our dedicated staff will review your business plan to check financial forecasts and measure performance in addition to analysing financial statements, reviewing expenses, checking budgets and reviewing your financial support.

To discuss the benefits of business finance health checks in more detail or to arrange an assessment by a member of the team, please call us on 0121 730 2269 or email enquiries@cmspubaccountancy.co.uk.

Call us on 0121 730 2269

How Can The World Cup Boost Pub Profits?

We all know the FIFA Wold Cup has a significant impact on the global economy, but from 14th June to 15th July your pub has the potential to thrive and increase its profit! With more people taking to their local...

Read more

2018/2019 Tax Year – Rates and Thresholds for Employers

The new tax year is approaching and it signals new rates for the national living wage and statutory pay, also new thresholds where employees start paying tax and national insurance. As staff are the most important asset to the licensed...

Read more

Tax Return Deadlines

December is traditionally a busy time for the licensed trade, with Christmas parties, New Year’s Eve and generally a heightened desire for people to socialise during the festive season.  Now that January has arrived and you’ve managed to catch your...

Read more