44 Wellshot Drive, Cambuslang
Glasgow, Scotland, G72 8BT
Telephone: 0141 641 7900
Email: mail@jdauld.co.uk
J.D. Auld & Co
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Our services



J.D. Auld & Co




Accounting

J.D. Auld & Co assist you in undertaking your legal obligation in preparing your annual accounts for subcontractors, sole traders, partnerships and for small to medium sized companies. We can assist you in the preparation of interim management accounts, discussions thereon and guiding you in the direction of increased efficiency and profitability.

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Book-keeping

Let us take you out of the time consuming aspect of book-keeping and allow you to use your efforts and talents to your own benefit in productively developing your own business.

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VAT and payroll

VAT and payroll are subject to an unbelievable level of minor regulation, that taken collectively, can add significantly to the amount of tax paid each year. It will certainly require you to spend more time each week trying to get grips with understanding how it all applies to you. The scope for getting it wrong is enormous. Alternatively, you could let us take the strain. J.D. Auld & Co offer competitive services that will relieve you of much of the worry about preparing the necessary transactional records and making those annual, quarterly or monthly returns. The Inland Revenue and Customs and Excise now work more closely together, and compliance visits are becoming more frequent for which we can assist you in dealing with them. If your business innocently fails to comply with what you should be doing, then you may suffer heavy back-duty assessments. We hope to keep you informed of the latest changes in regulations through this website. We also work with you to ensure you minimise the risk of you doing something you should not be, or just as importantly not doing something you should be.

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VAT and payroll are subject to an unbelievable level of minor regulation, that taken collectively, can add significantly to the amount of tax paid each year.

It is a common misconception that individuals only have to submit a self assessment tax return to the Inland Revenue if they are sent one. All individuals however have a legal obligation to notify the Inland Revenue about any taxable income they receive during each tax year ending 5 April. J.D. Auld & Co offer a quick and inexpensive service dependant on the level of complexity to prepare and calculate the tax you should be paying under self assessment. If completing your tax return is one task you really dread, then let us help you this year. Although we cannot reduce the pain of paying the final tax bill, we can also ensure that you take advantage of all the various tax allowances to minimise this final bill. We can certainly reduce the many hours of stress you may experience, trying to complete the tax return, having it timeously submitted and provided you pay the tax on the due dates then avoid interest and the various automatic penalties.

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Small business and corporate taxation

We are becoming a nation of sucessful small business entrepreneurs. If you are one of them, you want to make sure you receive the best advice about improving your tax position. To do so requires you to keep tabs on your financial position and profitability throughout the year. You must be thinking at least eighteen months in advance for basic Income tax planning, and several years for Capital Gains tax planning. Do not lose out personally just because you do not know you could make certain elections that might delay the date at which tax may fall due, or even reduce the amount payable. It is often too late if you approach a tax adviser after the event. If you run a small limited company then you will understand when we say that despite government promises to the contrary, corporate tax matters have become more complex than ever. One only has to consider the legislation that was introduced in the last Parliament to appreciate that the small company is under siege. Let us help you find a sensible path through the maze of regulation and work towards ensuring that you maximise the opportunities of taking your hard earned money out of the company in the most tax efficient manner. As a result of self assessment now both for certain individuals falling under Income tax and for limited companies falling under Corporation tax, the Inland Revenue has the right to open up either an aspect or in-depth tax enquiry in to the relevant self assessment tax return and the underlying accounts and other information and as such J.D. Auld & Co are in a position to fully assist and defend you during these enquires and to mitigate any additional tax and duties considered due.

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Capital gains and inheritance taxes

The rules surrounding these two specialist taxes are complex and require careful planning if you are to minimise your eventual tax liabilities. If you are in the fortunate position of either acquiring or disposing of personal assets e.g. company shares that are subject to Capital Gains tax, then talk to us before the event. It is nearly always too late if you seek advice after the transaction has been completed. Few individuals plan early enough for the inevitable event that may create a liability to Inheritance tax. With the cost of housing driving up the value of estates to within reach of the exempt tax thresholds, even individuals with quite modest incomes over their life can fall within the scope of Inheritance tax. A little planning can go a long way to mitigating the effect of Inheritance tax.

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Strategic tax planning

If you take a little time to think about your likely sources of income over the next few years and what expenditure you face then we may be able to advise you on arranging your personal affairs to save some significant sums of tax. As you will quickly come to appreciate, it is not only a case of always looking to minimise your immediate tax liabilities. Tax planning often involves making quite legitimate elections to alter the way your income is taxed and when those taxes fall due for payment. You do not have to be wealthy to benefit from this kind of planning. People with quite modest incomes can still save tax. J.D. Auld & Co are also acutely aware of our professional obligation to deliver a professional service that achieves the objective of saving you money, so we would not consider carrying out an exercise and charging you ?100 merely to save ?40.

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New business advisory service including formations

You may initially require us to formally prepare a business plan for you in order to consider the viability of your business project and for the purposes of raising finance or grants. The last thing somebody needs as they start a new business is to worry about what they should be doing about registering their new business with the appropriate Authorities as there are penalties for failing to timeously do so, hence let us take the strain during your first few months. This will free you up to get on with making your new enterprise work and we can also make sure you also gain the best tax advantages available. It is often a fact that too many businesses start up without paying any attention to even the most basic of tax planning opportunities. Let us advise you on whether you would be better trading as a sole trader, partnership or limited company. Do not miss out on the tax breaks that exist to help new businessess succeed. If you go down the limited company route then J.D. Auld & Co would be pleased in assisting you in forming a suitable limited company easily and inexpensively as if this is not done correctly at the outset then in the long term it may be expensive for you. We can also deal with all company secretarial and statutory matters for you.

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Software consultancy

If you are thinking of buying any accounting software, including payroll then please talk to us first. J.D. Auld & Co are in a position to offer impartial advice and obtain and set up the most suitable system for you. How often do you read "Using our software is easy and will save you time". What software developers do not tell you about is how long it will take you to set up the necessary administrative processes around your new software and to make it work in the first place. We have accumulated an expertise in designing such systems for most of the leading software developers in the market which you are likely to use in business. You could save a lot of wasted time and effort if you consult us first, both for your in-house processing and for us subsequently preparing your annual statutory accounts.

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Business acquisition or sale and forensic accountancy

Are you thinking of buying or selling a business? Then this is one when you will really benefit from professional accounting and tax advice. Talk to us first. There are many pitfalls to be avoided if you are to successfully minimise your final tax liability. You may also require to have your business valued or underlying transactions investigated into in contemplation of a purchase or sale or for example divorce or litigation purposes be you a defender or pursuer and J.D. Auld & Co have widespread experience in assisting in preparing cases for Court and acting as expert witnesses.

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