Tax and Forensic Audit Specialists
Tax, forensic audit, estate planning, all of the following areas for any new (or any current) contractor or business owner can be daunting. Visit the following pages for an overview on each topic and how RMI Accountancy can help relieve some of the work burden:
- Forensic Audit to prevent Fraud
- Corporate Tax Planning
- Estate Planning
- Personal Tax Planning
- Retirement Strategies
- Self Assessment
RMI Accountancy is UK's largest specialist provider of fixed fee, Limited company accountancy services to corporate companies. We provide all our clients with pro-active tax advice and accountancy services all backed-up by a unique money-back service guarantee. We offer unlimited face to face meetings across the UK, access to your own local dedicated tax expert - who you can call, email or meet with. With a regional structure in place covering the whole of the UK we are able to offer a truly 'local' low cost service wherever you happen to be based. With an on-line Company formation facility we have a lot of experience in forming and dealing with newly formed Companies and will be happy to assist and guide new clients in all aspects of the administration and accounting requirements for their new company.
- face to face meetings. This is another unique service for a nationwide accountant to contractors, only RMI Accountancy offers unlimited face to face meetings across the UK - tax is complicated and sometimes only a meeting will do.
- UK's Largest contractor accountants with more qualified staff. No call centres, no outsourcing, no automated call handling. Simply telephone, email or meet your own dedicated tax expert face to face.
- Outstanding reputation. We have won more awards for customer service and accountancy excellence than any other firm in our market, including: Best Accountant for Contractors, Accountant of the Year and Best Professional Service Team to name just a few.
- All inclusive low cost fixed fee accountancy package which includes completion of accounts*, payroll bureau, dividends and corporation tax computations, personal taxation, free bookkeeping software, access to your own dedicated tax expert and all company returns for a fixed fee of £110 per month.
Financial Fraud Prevention
Research has shown that fraud is no discriminator and can be carried out by the person you’d least expect and with fraud costing businesses as much as 5% of their annual turnover, it’s a problem that needs to be addressed and mitigated for the good of all concerned.
At RMI Accountancy Accountants in Media City, Manchester, we help companies in the media industry to assess, identify and prevent fraud before it ever happens and our services offer a holistic and comprehensive solution to a problem that robs individuals and organisations of millions of pounds every year.
Fraud Risk Assessment
Amongst the many compelling reasons to take measures to mitigate the effects of possible fraud is the most obvious one of loss of resources and money, but there are numerous other virtuous effects to analysing your current state of vulnerability to criminals.
Comprehensive risk assessments will enable you to:
- Identify any improper conduct within your organisation and those responsible
- Transmit a company-wide message that fraud is completely unacceptable and will be prosecuted when discovered
- Identify and measure what your potential fraud threats are
- Help your company recover any historical losses
- Identify those with the most opportunity to commit fraud
- Mitigate the consequences of undeterred fraud
The systematic nature of the work that we do, means that no stone is left unturned in the search for potential risks. Nothing gets through the net!
So, what’s involved in a Fraud Risk Assessment?
When new clients come on board with RMI Accountancy, the first course of action is conduct a vital risk assessment and this has several purposes and facets. Whilst the evaluation of potential risks a company encounters is obviously central to a risk assessment, this procedure also facilitates:
- The creation of a draft fraud prevention policy for future use
- A thorough employee assessment
- The production of a report for all possible measures to be implemented to prevent fraud
- The analysis of purchase and billing systems
- The assessment of potential cheque tampering
- The identification of any theft of equipment and inventory
A comprehensive overhaul of a company’s fraud prevention is often just what an organisation needs to break longstanding learned behaviours from employee to employee. What we have found during the course of our work is that inappropriate patterns of behaviour exhibited by management are often learnt and copied by those beneath them. The thought is “Well, my boss is doing it...”
Even if the review being conducted doesn’t catch the employees involved in fraud “in the act”, what it does is dismantle an environment of acceptance to the existence of fraud in the workplace. If employees know that the powers that be are focussing on the problem, this is usually enough to stop it in its tracks.
If you feel that your organisation might be vulnerable to or is the subject of fraudulent activity, then we would love to talk to you and discuss how we can help. You can call us on 0161 4137958 or visit our website www.rmiaccountancy.com. Our friendly team of forensic accountants are on hand to help you with any queries you might have.
RMI Accountancy - allowing our media clients to save money by implementing a suitable fraud prevent program.
Can you afford not to address the problem? The truth is, no one can.
Corporation tax represents a substantial part of your trading costs. Moreover, the increased reporting obligations, robust investigation policies on the part of the tax authorities, and harsher penalties for non-compliance mean that an undue amount of your time and resources can be taken up collecting revenue for the Government. We are specialist tax advisors and offer a range of services to help you minimise your corporate tax exposure and relieve you of the administrative burden of complying with tax legislation. These include:
- Determining the most tax effective structure for your business
- Taking full advantage of tax opportunities and reliefs
- Achieving the optimum capital or revenue tax treatment
- Reducing tax on disposals and maximising relief on acquisitions
- Making the most of tax opportunities specific to your industry
- Meeting the rigorous demands of compliance including corporation tax self assessment
- Acting on your behalf in discussions with the tax authorities
- Efficient corporate tax planning can result in potentially significant improvements in your bottom line.
Personal Tax Planning
With the tax regime becoming more complex and more emphasis being put on taxpayers' individual responsibilities, everyone who is subject to taxation needs professional advice and support if they are to optimise their tax position and ensure they meet all the compliance requirements. We are the tax specialists and tax advisers and can provide you with year round tax advice on:
- Income tax
- Capital Gains tax
- Inheritance tax
- Trusts and estates
- Non-domiciliary tax issues
Every pound of income tax you save means more income at your disposal, every well planned disposal of assets means minimal loss of capital gains, and every inheritance tax saving means more benefit for your beneficiaries. Make sure you take full advantage of the tax saving opportunities open to you - call us today for a personal tax planning review.
Everyone hopes to maintain the same standard of living in retirement as they presently enjoy while working, but to achieve this requires considerable forward planning. Here are some important questions you need to ask yourself:
Exit strategies If you are in business, the first thing you need to consider is your exit strategy. Will you withdraw from the business, leaving it for the next generation, or will you hope to sell the business? If you intend to hand the business over, do you have a workable succession plan? If you intend to sell, how will you value the business, find a suitable buyer, etc.? Are you aware of all the tax implications of the timing of disposals?
Pension provision Have you made adequate pension provision, and do you have the right type of pension? Are you aware of all the pension possibilities open to business owners and directors? Are you making full use of all your allowances?
Savings and investments Do you have the right balance between savings and investments, and between high and low risk exposures?
Life assurance and long-term care Do you have adequate life assurance, and have you made provision for long-term care and medical insurance for you and your spouse in your later years. We can help you answer all these questions and recommend solutions tailored to your particular needs.
The term 'self assessment' is proving to be one of the great misnomers of all time. Many taxpayers struggle to understand the complex tax returns and complete them correctly. In the first year of the regime alone, 775,000 taxpayers received £100 penalties for failing to submit their returns on time, and some 400,000 incurred further penalties because their returns were still outstanding six months later! The constant stream of changes to tax legislation means not only that the returns are becoming even more difficult to understand but also that taxpayers risk incurring more penalties through failing to complete their returns on time or correctly. We are tax specialists and can save you a lot of time, worry, and money by handling your self assessment for you. We will do all the necessary computations, complete your return, and even offer advice on how you can minimise your tax liability. We can act as your agent, dealing directly with the Inland Revenue on your behalf and, should you be selected for a self assessment enquiry, act for you at any meetings.
Value added tax is one of the most complex and onerous tax regimes imposed on business - so complex that many businesses inadvertently overpay or underpay VAT. The ever widening scope of VAT, the constant stream of detailed changes to the regulations, and the ever growing demands of Customs and Excise call for a trained professional eye to ensure that you do not fall foul of the regulations and do not pay the Exchequer more than you need to! We provide an efficient cost effective VAT service, which includes:
- Assistance with VAT registration
- Advice on VAT planning and administration
- Use of the most appropriate scheme
- VAT control and reconciliation
- Help with completing VAT returns
- Planning to minimise future problems with Customs and Excise
- Negotiating with Customs and Excise in disputes and representing you at VAT tribunals