The backbone of a business is having accurate and up-to-date accounts. They can be seen to be the most tedious part of running your business, but are one of the most important aspects to allow your company to run to its full potential. When your accounts are done efficiently, you benefit from being able to keep on top of, and control the business finances and plan for future growth.
BRAND PROTECTION & TRADEMARK
A trade mark is normally a brand name in the form of a word, phrase or logo, that lets consumers identify the origin of your goods and services. Trade marking is vital as it protects your brand quality, reputation and values against counterfeiters or third parties trying to trade off your success. Registering your trade mark gives you the power to take legal action against anyone who uses your brand or a similar brand without permission.
MANAGEMENT & END OF YEAR ACCOUNTS
If you are a limited company, you will need to prepare full annual accounts. This information is then sent to Companies House and HMRC. You will also be able to provide HMRC with the amount of Corporation Tax owed or if nothing is owed for that year. Your End of Year Accounts contain your profit and loss report, which will show the company's sales, costs and the profit or loss it has made during that financial year. It will also include a balance sheet, which shows what the company owes and is owed for that financial year. It is a statement of the assets, liabilities and capital of the business. There will also be notes about the account and a Director's report.
If you have non paying customers or customers who take too long to pay because you haven't got the time or resources to keep on top of them, then look no further. Our professional team will form relationships with your customers in order to receive payment for all outstanding debt and keep you informed on the progress and inform you of steps that need to be taken to keep your aged debtors list to a minimum.
PAYROLL / CIS
RTI, regulations, legislations and now auto-enrolment for work place pensions...confusing, time consuming with no room for inaccuracies. If this is how you feel about your weekly or monthly payroll, Lab Class Investments can take away the stress, strain and worry. We will work from the figures you provide and produce payslips, either electronic or hard copies, reports for your records, submit the RTI (real-time information) to HMRC and even make payments on your behalf to HMRC either monthly or quarterly. If you pay subcontractors for construction work, then you as a contractor will need to deduct money from subcontractor's money to pass onto HMRC. This is under the Construction Industry Scheme (CIS). This can be included in your payroll package if you are registered through CIS.
We can now offer Insurance solutions to the entertainment, event, media, film and fashion industry. Using our associates, we can offer you informed advice about the insurable risks of your industry, the needs of your business and explain the terms of cover and the options available.
A VAT return is a form you submit to HMRC to show how much VAT you are due to pay or are owed. It is normally submitted quarterly (June, September, December and March) and online submissions are due one month and seven days after the VAT period. It summarises the VAT relating to your sales and purchases for the VAT period. There are various schemes available and not all companies need to register for VAT. If your taxable turnover is less than £82,000 (from 1 April 2015), then you don't need to register for VAT.
LAB CLASS VENTURES
A company’s reputation is considered to be one of the most valuable assets, a strong brand strategy can give you the competitive edge, establish an identity which makes it easy to for the customer to trust your brand. If you are a start up company, sometimes in order to get your company off the ground you have to get investors. We want to cut out the middleman. Through Lab Class we trade our services for shares. It becomes a long-term partnership of continuing support as your business grows. It’s long been know that advertising and marketing works best when you know the brand inside out, we’re interested in the long term not just a one off.
Whether you're a sole trader, partnership, Director or earn income from another source, you will need to complete annual personal returns. This includes income from the UK and around the world. You will need to be registered with HMRC and will be provided with a UTR (Unique Tax Reference) number. Your returns will need to be submitted either in a paper format (SA100 form) or more commonly through HMRC's online portal. There are special forms in you're sending a return for a business partnership or non-resident company, or if you're a trustee. You will need to keep a record of all of your income and expenditure to be able to submit the correct information to HMRC.
NEW COMPANY SET UP
If you've got an idea about starting a new company but you're not sure of the process that needs to get you up and running, then we can help. From registering with Companies House and HMRC to registering your trademark, advising you on financial information and helping with budgets and forecasts.
CONTRACT AND AGREEMENTS
Lab Class Investments now offer Legal Contract & Consultancy – Our associates are leading specialists in corporate work, contract formation, negotiation and preparation with over 35 years of experience. We have a breadth of knowledge and experience that is not available in non-specialist firms.
FORECAST AND PROJECTIONS
Whether it's for your own peace of mind or if it's a requirement, forecasts and projections are an estimate of future financial outcomes for a business showing projected income and expense. Good forecasting can help reduce your business risk. Predicting your financial forecast can be quite problematic, especially if you're a new company with no trading history. They will be inaccurate initially but with frequent forecasting with adjustments as required, they could become precise and reliable.