Record-Keeping for small Care Home businesses

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All in One Services

Whether you’re an individual looking for personal financial help or a business in need of accounting, tax, or financial advice, we’ve got the tools to help you succeed. We’re your one-stop financial shop!

We provide book keeping, Payroll, CIS Return, VAT Return, Tax Return, Annual Accounts And Returns to Limited Companies.

Why Is Accounting Record-Keeping Important for Compliance in Care Homes?

Legal Requirements

Care homes in the UK are subject to stringent regulatory requirements, including the Health and Social Care Act 2008. Maintaining detailed financial records ensures your business complies with these laws, helping to avoid legal penalties and maintain your operating licence.

Financial Transparency

Transparent financial records are crucial for demonstrating accountability to stakeholders, including residents, their families, and regulatory bodies. It builds trust and credibility, showcasing that your care home manages finances responsibly.

Efficient Tax Management

Accurate accounting records simplify the process of preparing and submitting tax returns. It helps in identifying deductible expenses and ensuring that your care home pays the correct amount of tax, avoiding penalties and interest due to underpayment or late payments.

Improved Financial Planning and Management

Proper record-keeping provides a clear picture of your care home’s financial health. It aids in budgeting, forecasting, and making informed financial decisions, ensuring your business can meet its obligations and invest in improvements

Audit Readiness

Regular and accurate record-keeping ensures that your care home is always prepared for audits by HMRC or other regulatory bodies. It reduces the stress and workload associated with audits and demonstrates your commitment to compliance and best practices.

Monitoring Cash Flow

Maintaining detailed financial records helps in tracking cash flow, ensuring that your care home has sufficient funds to meet its operational needs and provide high-quality care to residents.

How TMO Financial Services Can Help

At TMO Financial Services, we specialise in providing comprehensive accounting services tailored to the needs of small to medium size care home businesses. Our expertise ensures that your financial records are accurate, up-to-date, and compliant with all relevant regulations. Here’s what we offer:

Bookkeeping and Accounting: Regular bookkeeping and preparation of financial statements.

Tax Planning and Compliance: Efficient tax management and submission of tax returns.

Payroll Services: Accurate and timely payroll processing for your staff.

Financial Consulting: Expert advice on budgeting, cash flow management, and financial planning.

Get in Touch

Ensure your care home business remains compliant and financially healthy with TMO Financial Services. Contact us today to learn more about our services and how we can support your accounting needs.

Phone: [07305 144 334]

Email: [themoneyorbit@gmail.com]

Address: [The Crescent, Slough, SL1 2LJ]

TMO Financial Services – Your Trusted Partner in Care Home Accounting

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Explore our Services

BOOK KEEPING

Book keeping is necessary not just to keep track of your company’s financial status, but also to ensure regulatory compliance. Building and maintaining bookkeeping and accounting records takes a lot of time and work. To make it easier for you to keep track of your finances, The Money Orbit offers a wide range of accounting and bookkeeping services.

CIS RETURN

Construction companies that are members of the Construction Industry Scheme can take advantage of our services (CIS). Our specialist team will complete your monthly CIS return, alerting tax you owe HMRC or how much money HMRC may owe you, and ensuring that you pay the correct amount of tax

PAY ROLL

Payroll management is a miserable task for any organisation because it takes a lot of man hours and does not generate revenue. It’s  exhausting because rules and regulations are always changing. Why not outsource your payroll processing to The Money Orbit to avoid this laborious task? Simply provide us with the payroll data, and we will provide you with a sustainable, confidential, and accurate payroll processing solution.

VAT RETURN

Completing your VAT returns can be tough and take up a lot of your time. But don’t worry! You can save time and stress by letting us handle it for you. When you trust us with your VAT reporting, you can relax knowing that experts are taking care of everything for you. So why stress over it? Let us handle the hard work while you focus on what matters most to you.

TAX RETURN

Our team of expert accountants is here to assist you with all your tax return needs. Whether you’re dealing with Construction Industry Scheme (CIS), Value Added Tax (VAT), individual, or company accounts, we’ve got you covered. Rest assured, with our professional support, your tax matters will be handled efficiently and accurately.

ANNUAL ACCOUNTS & RETURNS

Some accounting obligations, such as compiling yearly statements, might be delegated to our staff. We collaborate with you to fully comprehend your business scenario, and adapt according to your needs so that we can give you with the exact solution you desire. The profit and loss balance is prepared by our skilled staff based on the individual demands of the customers.


NAVIGATE YOUR BUSINESS JOURNEY WITH EXPERT FINANCIAL GUIDANCE

Certified Accountants

Business &

Financial

Advisors

The Money Orbit is a well-known and expanding company that offers accounting services in Slough and across the UK. Unlike traditional accounting firms, we’re a growing team that offers creative solutions to our clients’ questions, helping them concentrate on their business strategy.

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