Accountancy services in North London

We also prepare annual accounts for unincorporated entities, including sole traders and partnerships, which are used to support their Self Assessment tax returns.

There seems to be a different tax for almost everything we encounter these days. As a business and even as an individual, it can be easy to get bogged down and rather confused as to what your tax obligations are, from what forms you need to fill in, how much tax you need to pay, when they need to be paid by and what happens if you do not do so on time. These are just a few of the concerns people have when they first come to FMCB. We cover all taxes in our line of work and are able to simplify the process for our clients whilst providing advice along the way that will hopefully enable our clients to mitigate tax and plan for the future. From VAT to Corporation tax to Income tax, we have our clients covered, whatever their needs.

Whether you are a company director who receives a salary and dividends, or an individual with a portfolio of rental properties, or perhaps a higher rate tax payer with a salary and a handful of other investments, the chances are that you will need to submit a tax return. We take care of the preparation, computation and submission of our clients’ Self Assessment Return, providing them with tax planning advice and answers to any other questions they may have along the way.

Our clients may also have some capital gains tax and inheritance tax issues to consider along the way. We are always happy to help guide and advise our clients through these more fundamental moments as they arise.

With HMRC rolling out Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) for sole traders and landlords for the 2026/27 tax year, it is more important than ever to be on top of your income tax reporting requirements.

If you are not currently filing a tax return and you are unsure whether you should be, simply contact FMCB and we will gladly and quickly assess your circumstances to determine your next move.

At FMCB we know that efficient and insightful management accounts are pivotal to growing and maintaining a business. We offer all our clients monthly or, more commonly, quarterly management accounts to measure financial performance and accurately assess the impact of their business decisions. By having accurate management accounts, our clients can also see how their business is performing against their expectations for income, expenditure, and profits. We are able to tailor the contents and design of their management accounts to completely meet their requirements.

In today’s digital age, more and more businesses are taking the plunge and moving most, if not all, of their operational systems to the cloud. We have a wealth of experience in the most popular cloud based accounting software solutions, namely Xero, Sage and Quickbooks. Under Making Tax Digital (MTD) for VAT, all VAT registered businesses have to keep digital records and submit their VAT returns using compatible software. We have a host of solutions available that we are able to discuss with you and establish the best solution.

With cloud based software so readily available and designed with the less financially savvy users in mind, it is possible for you to keep your own records up to date without any outside help. However we still offer a bookkeeping service for clients who may feel less confident when it comes to numbers or simply do not have the time and/or resources to carry this out internally. Our bookkeeping services allow our clients to see and manage their business’ cash flow. By constantly monitoring one’s cash flow we can offer sound advice to keep it healthy and well-balanced. Good bookkeeping is the secret to driving a business forward and improving profits.

An audit is undertaken to form an independent opinion as to whether a company’s annual accounts are “true and fair”. The current audit thresholds are below (for financial years that begin on or after 6 April 2025), whereby companies who meet two out of three are required to have a statutory audit carried out on their annual accounts:

• Annual turnover of £15m+
• More than 50 employees
• Assets worth £7.5m+

A business is also able to voluntarily have their accounts audited as a form of best practice.

FMCB are registered auditors, authorised by the Institute of Chartered Accountants in England and Wales (ICAEW). We are able to carry out external audits in full, from the planning phase all the way to completion.

Our audit team will review our clients’ company’s financial statements, carrying out all the necessary audit tests and procedures along the way. They will ensure that the accounts comply with the relevant accounting standards and the requirements of the Companies Act 2006.

Once the audit work has been completed, we provide an opinion and communicate this in the form of an Audit Report that is included as part of the annual Financial Statements. Any weaknesses identified in the business’ operations and also any suggested improvements will then be communicated in the form of a letter to management.

All companies have a requirement to file certain forms and returns to Companies House throughout the year. This is the responsibility of Company Directors and the Company Secretary (if one has been appointed). Our sister company, GRB Registrars Limited, is able to carry out the preparation and submission of all our clients’ company secretarial requirements, including the annual Confirmation Statement, share transfers and the appointment and termination of Company Directors. We also provide a service for using our office address as the company’s registered office and Director’s service address, thereby keeping our clients’ personal address away from public record. Non-compliance with Company Secretarial requirements may lead to the removal of the Company from the register of companies, so clients have peace of mind in using our services in the knowledge that all filing deadlines will be met in good time.

Please refer to GRB Registrar Limited's Terms of Business.
 

As part of our full array of business services, we also offer a comprehensive payroll service to our clients. We prepare and send out payslips to all of our clients’ staff on a monthly basis and end of year P60s on an annual basis, also ensuring that all RTI submissions to HMRC are submitted on time. We advise our clients the amount of PAYE and National Insurance that is due each month, well in advance of the due date.

We provide continued maintenance and support in respect of our clients’ company’s pension scheme, specifically for the workplace pension, which all active payroll schemes should have in place for all qualifying members of staff.

We also provide a service for preparing and filing P11d forms for company benefits and expenses, which are due to be filed by 6 July each year.

We welcome clients from all walks of life, but there are a few, who by nature, we would consider to require a more specialist service. Both the process and skills required differ somewhat from what we would call a “normal” set of accounts. We provide services for Charities and Solicitors through all of their reporting requirements:
 

• CHARITIES AND NOT FOR PROFIT – Charities follow a slightly different accounting framework, following the Charities SORP, and are required to report to the Charity Commission (along with Companies House if it is a company limited by guarantee). The level of income for the year will determine what form of report is required, which can range from simple receipts and payments accounts (up to £250K of annual income for unincorporated charities) to independent examinations (if annual income is between £250k and £1m) and finally an audit (for Charities with an annual income over £1m).


• SOLICITORS – Accounting for solicitors and legal professionals is a specialist area that requires expertise and an understanding of the sector. Solicitors must follow the SRA Handbook and Accounts Rules 2011 in maintaining its accounting records, with particular attention placed on the handling and protection of client money.