Essentials

Getting Started

Do you need to incorporate? How about registering with HMRC or Companies House for taxes like VAT and PAYE? Let Blu Sky take care of this for you, so you can concentrate on running your business. We can also advise on the most tax efficient incorporation, to help you lay the path to a prosperous future.

Monthly Reporting

Monthly reporting on your company financials can help you make informed business decisions, and it will also satisfy your board or investors if you have them. Blu Sky provides monthly or quarterly management accounts using cloud software (Xero) to guarantee accuracy and clarity. This keeps you in the loop.

Remuneration Planning

Salary – Dividends – Directors Loan. That’s all wrapped up as part of your Essentials package. But sometimes business gets a little more complicated than that. We can help you understand your situation and construct a plan that best addresses it, whilst ensuring you are made fully aware of any tax implications.

Cloud Setup

Blu Sky’s cloud set up ensures you get up and running with your new fancy accounting software with a bunch of useful apps which will save you time and stress. After a short consultation period, this will consist of migrating your financial data from your old system straight onto Xero, introducing new processes and efficiencies.

Year-end accounts

Unless you’re an accountant yourself, you shouldn’t be filing your own year-end accounts because their accuracy will never be guaranteed. Financial Reporting Standards 102 or 105 apply to limited companies in the UK. Blu Sky can check which standard suits your company best and file to those standards.

Corporation Tax

Blu Sky ensures you hit the legal obligations for filing a Corporation Tax Return and alerts you to the correct tax liability that needs paying based on your profits at the end of each financial year. We’ll ensure you meet your filing deadline and your personal responsibilities for submitting accurate, detailed accounts.

Companies House & HMRC

Let Blu Sky take care of your correspondence with Companies House and HMRC and you’ll benefit from our experience dealing with them. We’ll keep you abreast of everything important and process your registrations and documents on time to ensure compliance. Our clients find this aspect of our service most helpful.

Personal tax

We calculate and process hundreds of self-assessments every year, helping our clients keep their tax bill on a level. If you’re a company director or self-employed, you are legally required to file a self-assessment each tax year. Let Blu Sky do this for you to ensure compliance and minimise your tax bill.

VAT Return

Let Blu Sky take the reins on filing your VAT returns after preparing them. We can produce your VAT return and check its accuracy, ensuring you’re using the very best VAT rates and making any necessary adjustments. Blu Sky will also submit VAT returns on your behalf, on time, to ensure complete compliance.

Daily Reconciliation

Outsource your bookkeeping to Blu Sky, and you don’t need a full-time accounting employee. We also have vast experience, something that your accounting technician may not. Eliminate the possibility of needing to do any clean-ups or adjustments and guarantee accurate financial information with our service.

Payroll

Running weekly or monthly payroll and worried about filing everything on time with HMRC, as well as paying your employees? We take away the admin burdens of filing RTI and producing payslips for your employees. Chat to us about the different options available for payroll, including Xero Payroll, to suit your needs.