At Horsfield & Smith, we know that behind every successful business lies a strong foundation of financial clarity and compliance. Our bookkeeping services in Manchester are designed not just to manage your financial records, but to empower business owners to thrive. As the year unfolds, effective planning, tax optimisation and informed business decisions are more critical than ever.
Whether you’re a small business owner, a company director or part of a growing partnership, here’s how strategic year-end planning – supported by a cost-effective bookkeeping system – can maximise your financial success.
Tax-efficient income management
Accurate bookkeeping provides real-time insight into your income position, helping you:
- Utilise your full personal tax allowances.
- Transfer income-generating assets between spouses or civil partners to lower overall tax liabilities.
- Pay family members (spouse/children) a salary for genuine work done in your business, recorded and processed through compliant payroll systems.
Our qualified bookkeepers ensure these actions are properly documented, using an integrated accounting system, ready for HMRC scrutiny and built into your year-end review.
Benefits in kind: Keep it compliant
Detailed expense tracking supports:
- Correct mileage and trip logging to validate business journeys.
- Reimbursement of private fuel costs to avoid unnecessary benefit-in-kind tax charges.
- Tracking of low-value beneficial loans to employees under the £10,000 threshold.
With the support of our professional bookkeepers in Manchester, compliance and clarity are seamless.
Pension planning made simpler
Your annual pension contributions can be a powerful tax planning tool. But tracking earnings classifications, contribution limits, and reliefs is complex:
- We’ll help ensure you stay within the £60,000 annual allowance (2023/24) or understand the implications if exceeded.
- Employer contributions are processed with care to protect short-term cash flow and long-term retirement value.
Our accountancy service integrates pension planning with your broader strategy, giving you more control through accurate financial records.
Capital Gains Tax – strategic timing is everything
Through precise bookkeeping systems and proactive planning, you can:
- Maximise the £3,000 CGT allowance (2024/25).
- Defer disposals of chargeable assets by a full year.
- Align gains with unused basic rate bands for optimal tax efficiency.
- Prepare for business exits to ensure eligibility for reliefs and exemptions.
With expert support from our highly recommended team, we provide clarity through timely and reliable data.
Inheritance Tax: Protect your legacy
We support you in managing the figures that shape your future, including:
- Lifetime gifting strategies and use of IHT exemptions.
- Documentation for gifts to spouses, charities or via trusts.
- Guidance on business property and agricultural reliefs.
Our accounting software and detailed record-keeping ensure that estate strategies are effective, accurate, and compliant.
Business year-end planning for sole traders, partnerships and limited companies
Your accounting year-end may have even more impact than the tax year-end. Here’s how we help:
- Defer income or bring forward costs to optimise corporation tax returns.
- Plan bonuses and dividend timing based on personal and company tax profiles.
- Set up structures for new ventures, especially where early trading losses may be involved.
- Record the purchase of replacement assets to roll over gains.
Whether you’re navigating VAT returns or year-end tax returns, our support gives you the confidence to make timely decisions.
Dividend vs bonus – strategic distribution
Our advisory team works with your bookkeeping system to:
- Review shareholder and director remuneration strategies.
- Determine the best tax-efficient mix of salary, bonus and dividends.
- Ensure all payments are accurately recorded and aligned with Companies House and HMRC compliance.
Why choose Horsfield & Smith for bookkeeping services in Manchester?
We’re more than bookkeepers. We’re chartered accountants and growth-focused business advisers. Based in Bury and serving Greater Manchester for over 100 years, we offer sector-specific expertise and tailored services. Whether you’re outsourcing your finance function or just improving your accounting system, we provide the flexibility and assurance your business needs.
We offer:
- Fixed fee bookkeeping options
- Full integration with payroll, VAT, tax and compliance
- Reliable support for VAT returns, tax returns and reporting
- A dedicated team of qualified bookkeepers focused on your success
Our services are highly recommended by local businesses who value precision, service, and proactive support.
Whether you’re looking to outsource your entire finance function or just need better clarity in your accounts, our bookkeeping services Manchester businesses rely on are designed to deliver results.
Explore how we can support your business goals with our accounting services to strengthen your decision-making and financial planning.
