Services

Tsega provides a diverse range of services including Personal and Business Taxation, Corporation Tax, VAT, budgeting and forecasting, Payroll, bookkeeping, preparation of financial statements, company formation and other services to meet a vast list of needs from clients. 

The practice strives to provide only the utmost professionalism and results-driven success that will help your accounting and finance needs. How can this be  accomplished? Through understanding the clients' needs and providing excellent service, with the following relevant accounting software applications such as; Sage, Wave and QuickBooks which can be used by freelancers and business owners.

Having an accounting software helps to track income and expenses of a business which ultimately gives a clear picture of your business's growth. This service is offered to leverage  the diverse accountancy background and help the clients to achieve excellent service results. With years of knowledge and experience, Tsega knows the industry well and has many close contacts in the field. 

Accountancy services

Financial accounting and reporting for income taxes have become increasingly complex. Thus, each and every company has a statutory obligation to generate yearly accounts for the appropriate authorities, generally HM Revenue & Customs and Companies House. Therefore, it is important to understand your obligations as a business owner to record your transactions. 

In order to comply with the statutory obligation, every business has to maintain its financial records in a very proper way to ensure the inflow and outflow of the money in it. Updating all the financial transactions in the business properly in the bookkeeping system. 

This is where TE comes in and provides accountancy services that ensures your business books are up to date on a daily/weekly/monthly basis so that it can be used in the preparation and completion of your business/corporation tax return. 

Accountancy services such as accounts receivable, accounts payable, bank reconciliation, payroll, VAT and financial report preparation (financial statements) can be provided to both new and established businesses in the UK.

Business Taxation services

Business taxation refers to the taxes that businesses must pay as a normal part of their operations. Whether you are a sole trader, in partnership, part of a limited liability company, or a limited company, your business is responsible for direct and indirect tax returns. As each type of business pays tax differently, getting tax right and making sure you pay the right taxes is one of the most important financial aspects of any business. Even though taxation seems to be the most complex area, it is the most important aspect of a business’s life. Thus, TE makes things easier for you by ensuring every client receives the most relevant and informed advice as well as helping your business accounts through until your tax returns are done.

Personal Taxation services

Personal income tax is a tax due to pay on an individual’s personal income and is normally levied on the wages, salaries, dividends, interest, and other income a person earns throughout the tax year. 

It is different from the tax paid on the company's profits. However, in an incorporated company, shareholders pay taxes on both their income (salary or dividend received from the company). As we all know, the more you earn, the higher the taxes you have to pay. 

The only way to keep a bit extra in your pocket is by calculating your incomes correctly and ensure you get all the allowances, thresholds, etc. right. The amount of tax you pay depends on taxation rates which may vary by the type of taxpayer and the net amount after allowances is usually referred to as an individual's taxable income. Therefore, TE's years of experience in this field will garnered an expansive set of skills in the process, This service will help you to file your self assessment (Tax) to HMRC and advice on what deductions and allowances you can claim when filling your personal taxation.

Financial Accounting and Accounts Preparations

Sole traders, partnerships and business owners must report back to tax authorities such as Company's house and HMRC on their trading activities (profit , expenses , sales) within their last accounting period. The reporting requirements are different depending on various things such as the level of trading activity. Therefore, financial accounting and accounts preparation for your business is crucial.

Final accounts provide the information about the business profitability by preparing the final accounts such as profit and loss account, balance sheet , etc which shows a business's performance over a specific period of time.

Therefore,  If you are self-employed, a sole trader or operate your business as a partnership, take advantage of  TE services to support your business with preparation of annual accounts and tax pack , assessing and advising on how your business can perform better to reach new heights and gain influence.

Budgeting and Forecasting

A budget is a detailed financial outline of what the business thinks will happen over a period of time often a year or more financially. The budget will include details about the company’s revenues, expenses, cash flow and financial position. This information should be available from the company’s financial reports.  Budgeting is the most critical part of a business’s strategy and guiding the way towards what the business wants to achieve during a specific period. A budget compares actual results to determine variances from expected performance.  Forecasting is an estimation of future outcomes which quantifies where the company is headed during the forecasted period. It helps companies adjust their goals to reflect company or market changes, as originally set out in their budgets and this can be done or updated regularly. Forecasting helps businesses to focus only on what matters to their business such as cash flow, production, sales, or finance.