From payroll, bookkeeping and accountancy through to advice on starting your own business, we give you access to a team of accounting experts. Our payroll team has spent over 40 years in this area; and as a firm of Accountants we offer specialist tax advice to businesses from both the local Cheltenham and Gloucestershire area, and from further afield.
All this is backed by a strong focus on service, putting customer needs first every time. You’ll quickly come to appreciate the reassurance of expertise and accuracy, and enjoy the peace of mind to get on with developing your business.
For more information about Oriel accountancy services call us now on 0845 226 1843.
Bookkeeping and Accounting Services
From VAT and accounts to tax planning and payroll, Oriel is the business you can trust to take care of every last detail. We've earned an excellent reputation for providing bookkeeping and accounting services for a variety of businesses, whether start-up or established.
Read more about our bookkeeping and accounting services
Employee Payroll Bureau
By outsourcing your payroll to Oriel we will provide you with the expertise, systems and resources that allow you to concentrate on what you're best at.
Read more about employee payroll services
Business Start Up
Our proven systems and resources mean we can take care of many of your routine activities, creating more time for you to use your energy on making your business work - and doing what you're good at.
Read more about our business start up advice
FAQs
Do I need to form a company?
No you don’t, but it is recommended. By incorporating your business you potentially limit your liabilities should anything go wrong.
It also adds a degree of credibility to your business.
How can Oriel Help?
Oriel can set up your company for you within 24 hours, with a complete set of paperwork in your hands within 72 hours.
Do I need to register for VAT?
Hopefully yes as you will be obliged to register for VAT if your turnover exceeds £67,000 in any given year. It is therefore worth considering an early voluntary registration to get it out of the way.
Another advantage of early registration is that it will enable you to claim VAT on start up costs sooner.
Finally, as it is only small businesses that don’t need to register by issuing invoices without VAT you are signalling to your clients that you are only a small business – this may put you at a disadvantage compared to competitors who may look bigger and be perceived as more reliable.
How can Oriel help?
Oriel can set up your VAT registration for you. Vat returns are prepared as part of our standard accounting service.
Won’t registering for VAT make my selling prices more expensive?
If you are dealing with businesses that are VAT registered, then your own registration won’t matter as they will only be concerned with the net price.
If you sell to the public, then VAT will make the price more expensive but as you will need to register if your sales exceed £67,000 non-registration is only really worthwhile for small businesses.
How can Oriel Help?
We can monitor the likelihood of exceeding the threshold on an ongoing basis via quarterly or monthly management accounts. If you do decide to register, we can set this up for you and prepare the returns for you as part of our standard accounting service.
Do I need a business plan?
Possibly not as a business plan is often only needed to secure funding or an overdraft facility at the bank. If you do need a plan, it should contain sales forecasts, details of expected costs and analysis of your intended market place. Even if the bank doesn’t require a plan they can be a good idea, as they are good way of setting targets and expectations.
How can Oriel Help?
The key is to keep the plan simple and understandable – as our staff has extensive knowledge of what is required from a business plan we can help you prepare this plan from scratch or possibly refine your existing plan.
What taxes will I have to pay?
Several unfortunately. Assuming that you form a limited company, you will be subject to Corporation Tax and VAT. If you employ staff then you will also need to account for PAYE and NIC on their wages. In addition you will subject to PAYE and NIC on your own remuneration.
How can Oriel Help?
Oriel can advise you on the most tax efficient means of withdrawing money from your business.
VAT
We can prepare you VAT returns for you either on site or from our offices, leaving you to concentrate of the core areas of your business.
Payroll
Our payroll bureau can not only be used to calculate your staff pay and supply staff with their pay slips, but it can be used to make the payments from your business account. We will also calculate PAYE and NI liabilities and can arrange those payments too.
What records do I have to keep?
As a director of a company you are required to keep accounting records that can be used to show the financial state of the company. In reality all this means is that you should keep details of all transactions that go in and out of your bank account.
This is usually covered by your sales invoices, purchase invoices, payroll records and a list of standing orders and direct debits from the bank.
How can Oriel Help?
Our company secretarial service will keep you up to date with your responsibilities, ensuring that you file any necessary forms or returns on time.
Our accounting service will turn your invoices and bank statements into meaningful accounts that will not only satisfy your duties as a director but will provide useful management information.
At the end of the year we will produce statutory accounts for filing at Companies House together with tax computations to be submitted to HMRC.
What is Cash Flow? Why is it important?
In simple terms cash flow is the amount of money generated by your business or the difference between the cash flowing into your bank account compared to the cash flowing out.
Naturally if cash out exceeds cash in then the company may be unable to pay suppliers and staff.
This may sound obvious, but this is still the single biggest reason why many businesses, especially new business ventures, fail. The product or service they are providing may be excellent and the business could be sound in every other way but if cash flow is not managed, the business could disappear.
How can Oriel Help?
Oriel can help formulate an effective means of forecasting your cash flow as part of your management reporting identifying problems in advance in order to take preventative action.
Oriel can even help with collection of debts and funding from invoices.
We have a range of credit control and debt collection services for handling overdue debt. Our telephone and letter chasing is sensitive to your requirements whilst persistent enough achieve the desired results. We have a proven method of debt collection having successfully collected £90 million of debt in the last twelve months.
