Paragon Chartered Accountants, central London: specialist client sectors
Paragon Chartered Accountants is a truly 'general practice' – by this we mean that we offer our audit, accounts and tax services to clients of all sizes and from a diverse spectrum of business sectors, based both in the UK and abroad. As a client of Paragon Chartered Accountants, Central London you can rest assured that we will connect with your business to provide a tailored service to suit your needs. We represent significant numbers of clients from the following sectors – for your convenience, details of these and the relevant experts in our team are below.
Whatever your industry, at Paragon we pride ourselves on offering our clients exceptional service and expert advice – please contact us to arrange a free and informal meeting to discuss how Paragon Chartered Accountants, Central London will benefit your business.
Legal
We understand the specific challenges faced by those in professional legal practices, in complying with legal and reporting requirements relating to the holding, maintaining and controlling of client monies. The detailed reporting is complex and, over the past few years, has been updated in numerous areas. Most solicitors are conversant with the rules and the amendments therein, however, breaches of the rules can occur, which are reportable to the Solicitors Regulation Authority (SRA).
At Paragon Chartered Accountants, we have detailed knowledge of these rules and the interpretation of them in everyday use with our clients. We act for numerous solicitors in relation to the audit requirements for these regulations. In addition to the audit, we can advise on the rules and provide feedback and recommendations on client accounting along with efficient tax planning.
Please contact Declan McCusker at mccusker@paragon-company.co.uk who is based at our Mayfair branch.
Hotels, Pubs and Restaurant Accounting
Expert tax guidance is vital to businesses operating within busy industries. For pubs and bars facing complex tax rules, our accounting team are here to make sure your establishment meets its financial obligations both accurately and on time.
There are many issues that can face businesses in the hospitality industry so ensuring your tax, payroll and accounting is accurate and up-to-date will keep your business operating smoothly and worry-free.
Find out more about our hospitality accounting services here.
- Capital allowances – hotels and B&B's incur capital expenditure on the property, furniture and furnishings. Detailed knowledge of the ever-changing rules for capital allowances is essential to maximise the taxation relief available in this area.
- Income tax and National Insurance – there are specific rules and guidelines in relation to areas common to hoteliers, such as meals and accommodation provided to employees, taxis for employees working late and also the provision of uniforms. Falling foul of these rules can result in taxation, penalties and interest.
- Financial reporting – there are numerous financial reporting standards which are common to hoteliers which will directly impact on reported profits and results. Detailed knowledge of this area, and utilising the advantageous provisions available to hoteliers, is essential.
Property Investment Tax Advice
Specialist tax advice is crucial when it comes to income and gains from land and property, whether you are purchasing your first buy-to-let property, embarking on a new business venture as a property developer or you're an experienced property investor.
At Paragon Chartered Accountants, we ensure that your business affairs are correctly structured to minimise your current and future tax liabilities to produce the best returns for your investment.
We take the time to discuss your property investment to date and to review your current business structure, to reduce your income tax and corporation tax payments. We also discuss your investment intentions and exit strategy to ensure that we maximise the reliefs available for future capital gains tax and inheritance tax liabilities.
Charities and Non-profits accounting
Paragon Chartered Accountants acts for a wide range of charities and not-for-profit organisations. We understand the unique challenges faced by these bodies, as well as the complexities of rapidly changing regulations and compliance requirements pertaining to audits, and the reporting and recording of financial information in line with best practice.
We also offer our accountancy expertise to foster carers: the caring for children in this arrangement is treated as a business by HMRC and many foster carers are responsible for preparing annual accounts, completing self-assessment tax returns and are liable for income tax and National Insurance.
In addition, we offer day-to-day support with bookkeeping, preparation of accounts and financial statements and also offer proactive advice on tax efficient fundraising and planning.
Construction (CIS Accounting)
One of Paragon Chartered Accountants specialist sectors is building and construction. Under the Construction Industry Scheme (CIS), contractors must deduct money from a subcontractor's payments and pass it on to HMRC – these deductions count as advance payments towards the subcontractor's tax and National Insurance.
We harness our expertise and knowledge to help construction companies, by providing day-to-day support with bookkeeping, PAYE, preparation of accounts and financial statements and we also prepare VAT returns and ensure CIS compliance is met. Not only that, we will also provide clients with proactive advice which will lawfully allow their business to minimise its tax burden, saving them money and allowing them to concentrate on with what they do best.
Small Business Accounts
Whether you’re a sole trader, limited company or somewhere in between,
benefit from straightforward accounting and taxation advice and services.
Property & Landlord Accountants
We are well-versed in the intricate tax and accountancy needs of the
property industry in all its forms.
Restaurant & Takeaway Accountants
We won’t make a meal out of your accounting, but we will take a big
bite out of the hard work!
Charity Accounts
We work with a range of charities, large and small, understanding the
requirements of non-profits and charitable organisations.
What our clients say about Paragon Accountants
ACCA Accredited
for Practice.
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