Sectors

Here's What We Do Better

RESTAURANT AND HOSPITALITY

We have a wealth of experience working within the hospitality sector helping pubs, restaurants, bars and coffee shops with all their accountancy requirements.

We understand that the day to day demands of running a successful business in a hectic and challenging industry leaves you with little time to get to grips with the latest changes to accountancy legislation. Our team of experts will make sure your business is kept up-to-date on all the current industry issues and provide you with the best and most suitable advice.

From how to best distribute staff tips through TRONC to assistance with auto-enrolment procedures and National Minimum Wage requirements, we will help you to keep compliant and in control.

Our friendly, dedicated team can provide you with accounting and taxation requirements including:

  • Advisory and support tailored to your industry
  • TRONC implementation for tips and gratuities
  • Payroll services
  • Auto-enrolment assistance
  • VAT compliance and treatment of wet and dry supplies
  • Stock takes
  • Management accounts, forecasting and budgeting, and monitoring KPIs and performance
HEALTH AND FITNESS

We work with a number of self-employed health & fitness professionals including personal trainers, Fitness and Yoga instructors. We help complete and file your Tax return; provide financial advice on all business matters and help to claim some common deductions:

  • Continuing professional development
  • Professional memberships
  • Use of home if maintain records there
  • Promotional expenses
  • Liability insurance
  • Exercise equipment
  • Car/fuel costs

Our Typical Fitness professional Includes:

  • Fitness Instructors & Presenters
  • Personal Trainers
  • Physiotherapists
  • Yoga Teachers
CONTRACTORS IN CONSTRUCTION

At Bergen Associates, we provide CIS services you can trust. We work with a number of clients in the construction industry. If you are a self-employed sub-contractor in the construction industry or a Contractor. We help with the following services:

  • Verifying subcontractors – you need to check that the subcontractor is registered with HM Revenue & Customs.
  • Appropriate deductions – subcontractors can have different tax statuses, meaning deductions may have to be made from their pay.
  • Returns – every month, contractors must send HM Revenue & Customs details of the subcontractors they have used.
  • Payments – each month/ quarter, contractors must make a payment to HM Revenue & Customs for the deductions they have made from subcontractors.
  • Application of a 30% tax rate for sub-contractors who cannot be verified.
  • Monthly CIS300 return to HM Revenue & Customs, which needs to be submitted by the 19th of each month. Penalties for late submission of at least £100 per late return.
  • Penalties for late submission or getting things wrong can be oppressive. This can be up to £3,000 per return, which is potentially up to £36,000 per annum.
NOT FOR PROFIT ORGANISATION

We also have excellent in-depth knowledge and expertise in dealing with Charity accounts, independent examination of charity accounts, Charity Bookkeeping and Charity formation.

We always work closely with our clients to produce a governing document which truly reflects the client’s vision and complies fully with the Charities Act.

The services we offer to a wide range of charities, Not for Profit organisations, and Community Interest Companies, include:

  • Charity Registration
  • Charity Accounts
  • Independent examination of charity accounts
  • Charity Bookkeeping
  • Tax planning, financing & VAT
  • Trustees powers and responsibilities
  • Charitable trading activities
  • Directors’ duties and personal liability
RETAILING

We have worked with some of best-known supermarkets and retailers for over a decade.
As these sectors have evolved, so have our strategies. We’ve assisted our clients through changes in gross and net margins, changes to the tax regime as well as through economic downturn.

Our ability to understand our clients’ particular needs and aims, as well as to provide an around-the-clock service, makes us stand out in this field.

PROFESSIONAL SERVICES

We help our clients face exactly the same challenges, opportunities and problems as you do. Consequently, our in-depth understanding of this sector provides us with an informed perspective on the business.

We act as advisors and accountants to professional practices across the board, including:

  • Pest Control Providers
  • Architects
  • Surveyors
  • Doctors & surgeons
  • Counsellors
  • Therapists
  • Interpreters

We are here to help you with whatever your business

  • Business Startups
  • Sole Traders
  • Partnerships
  • Contractors
RENTAL PROPERTIES FOR LANDLORDS

We offer a great range of property tax advice specifically for landlords or those with second properties.

If you receive rental income that exceeds your total expenses, allowances and reliefs, then you are required to pay tax on this income by submitting a tax return. If your rental property generates a loss, you may want to voluntarily disclose it because this allows you to make use of the loss in the future should the property turn profitable.

Below are some common areas that we can help you with your property affairs:

Deciding on your main residence

If you do own and personally use more than one property in the UK, it is possible to make an election to nominate which property should be treated as your main residence for tax purposes. We can advise on the implications of making such an election, the qualifying conditions that must be met and help to decide if it would be beneficial for you depending on your personal circumstances. There are strict time limits for making this election, which has to be filed with HM Revenue & Customs, so it is important that advice is sought promptly.

Selling property

If you have Capital Gains Tax to pay, for example because you’ve sold or given away a holiday home or second property, you will need to complete a tax return. TaxAssist Accountants can advise you on any tax planning opportunities available, in order to minimise your Capital Gains Tax liability. We can also calculate your Capital Gains Tax liability and complete your tax return for you.

Landlords

If you rent out property you will pay income tax on the difference between the rents you have charged in a tax year, less any allowable expenses and charges. We can help you to make sure that you are claiming all of the expenses and reliefs you are entitled to.

Knowing what maintenance and repairs can be deducted can be tricky, because there are a number of different methods that can be used depending on your circumstances. We can discuss your options with you and make sure that you make the right choice; to optimise your tax position and fit your needs. We can also make sure that you are claiming all of the finance costs for any loans or mortgages you have on your properties, as again, this can be a complicated area and taxpayers can miss out on valuable tax relief.

Furnished holiday Lets

Significant changes were made to the treatment of Furnished Holiday Lets (FHLs) for tax purposes in April 2012. The conditions in order to qualify for such treatment are now more stringent and the benefits have been reduced. But we can advise you on the qualifying conditions and the implications that such status entails for your properties.

Letting rooms in your home

If you let rooms in your own house, you may not pay tax if the total rents charged are under £4,250 per tax year. But there are conditions in order to apply this exemption, which we would help you through.

We are here to help you whatever your business
Business Start ups
Sole Traders
Partnerships
Contractors