Bookkeeping, Payroll & VAT

Part of the satisfaction of helping clients grow is that at some point they’ll need to take on staff.

We offer a fully managed bookkeeping & payroll bureau service for clients that wish to outsource this process and focus their time on added-value activities instead.


Many of our clients rely on our in-house bookkeeping capability to free up time and know the records of the business are in safe hands

Bookkeeping, the recording of financial transactions, is an essential financial management process for businesses of all sizes. Ensuring that these records are accurate, comprehensive, and up-to-date is critical. For smaller organisations, however, the volume of transactions might not always warrant the cost of a full-time bookkeeper.

Tearle & Carver’s managed bookkeeping service ensures that all of your transactions are accurately recorded, helping you to maintain control of your business finances and save money on year-end accounting fees. Our service includes:

  • Data inputting financial transaction using a suitable accounting software package (such as Sage, Kashflow, Xero)
  • Setting up a suitable chart of accounts within the bookkeeping software
  • Production of Sales Invoices
  • Reconciliation with bank statement
  • Preparation of quarterly VAT returns
  • Credit control to aid cashflow management where needed

We manage over 500 payrolls per month, on time, no penalties and stress free to you

Payroll refers to the amount payable to employees for services provided during a particular time period. It is critical that payroll be calculated correctly to ensure employees are paid accurately and on time.

Where larger companies might choose to employ an internal payroll department, for many businesses outsourcing is the optimal solution, allowing you to focus more time and energy on value-added activities.

Tearle & Carver’s fully managed payroll bureau service offers a variety of benefits for businesses’ looking to outsource this process, including:

  • Saving you time with data entry from timesheet information
  • Preparation and production of payslips
  • Providing financial information for payment processing
  • Preparing HM Revenue & Customs forms including P11D, P45, P60
  • Auto enrolment services
  • Expert advice on payroll related issues such as statutory sick pay, statutory Maternity/Paternity Pay, redundancy payments, and holiday entitlement

We don’t just take the numbers that are provided in the software, we cover all complexities that sit around VAT

Value-added tax, more commonly known as VAT, is a form of tax relating to the purchase of good and services. Designed to apply only to the value added by a business at each stage in the supply chain, VAT is a complex tax that requires specialist knowledge and expertise.

Tearle & Carver is committed to finding proactive and legitimate ways to reduce our clients’ VAT assessment and minimise VAT liabilities. Our VAT services can help you feel in control of your business finances, and include:

  • Assistance with VAT registration and de-registration
  • Advice on choosing your VAT scheme
  • Completion of VAT returns
  • A VAT Health Check
  • Pre HMRC visit reviews
  • Support during HMRC visits and investigations
  • Assistance relating to partial exemption
  • Advice on land and property transactions and options to tax
  • Advice on VAT cross boarder and trading abroad

90% of all software functionality is never used. We make sure that you unleash the power in Sage, Xero, Kashflow, Quickbooks and Excel

Choosing the correct software for your business can be a difficult process, while a lack of training could mean a failure to make full use of the package’s functionality.

Tearle & Carver recognise that every business has different needs and requirements. Following an initial evaluation of your company’s processes, we will assist in selecting a solution that works for you and be on hand to guide you through every step in the implementation of your new software package.

Tearle & Carver’s training service provides:

  • Guidance in selecting the optimum package for your business
  • Bespoke on site training for your staff
  • On going support to ensure employees feel confident in their continued use of the software

Case Studies

The Tax Man

Minimise the stress of an investigation and make use of our extensive experience in securing best outcome for our clients

Business Valuation in Distress

Take advantage of our impartial and rigorous due diligence procedures

FD in The Cupboard

Our innovative ideas are here to improve your business performance and secure appropriate and cost effective funding

The Tax Man

The Tax Man

A new client was introduced to us via a recommendation with whom we arranged to meet on a regular basis in order to determine a number of changes that we felt were needed to their business structure. The client was at the time operating as a husband and wife partnership. The business was flourishing and had a number of large contracts with big organisations.

At the start of the process they were still heavily immersed in their day to day operations so we can get a full flavour for their ambitions, aspirations and growth plans. We quickly recognised there were sufficient tax savings which can be achieved by changing the structure from a partnership to a corporate entity. We carried out a business valuation and disposed of the goodwill from the old to the new business. Unfortunately, as often is the case with efficient tax planning, HMRC got involved and disputed our valuation.

An HMRC investigation can be a very stressful time for any client, even for those best prepared. However, our client had minimal input in the HMRC communication as we dealt with this professionally behind the scene. As an added benefit, our client could rest on the security that all work was covered by insurance and therefore all costs and time in dealing with this enquiry were covered by the fee protection policy we had put in place.

The initial approach taken by HMRC was very aggressive and they tried to present an argument that there was no goodwill in the business. We challenged HMRC’s view that the goodwill was worthless. After lengthy correspondence and numerous telephone calls, HMRC agreed 100% with our original valuation, which preserved our original tax saving plan for the client. Tax savings on this case where in the region of £75K at the outset, with ongoing savings of £6,000 per annum. We are pleased to add another happy client to our portfolio.

Business Valuation in Distress

Business Valuation in Distress

Selling a business is never an easy process, but when disputes arise, the need for a reliable third party due diligence process is even greater.

Tearle & Carver have extensive understanding of the requirements for remaining objective when managing a potentially difficult company buyout. In one such case, we were approached by the courts to act as independent accountant for an acrimonious business sale in which one partner was exiting the business and selling shares to the other. Given the circumstances, both sides had totally polar views of what their business was worth.

After arranging an initial meeting with the company, we were thorough in ensuring we completed due diligence, validating the figures in the accounting records, carrying out adjustments where appropriate, and drafting a set of reliable management figures within the framework required by the court.

A draft version of the report detailing our findings and conclusions was submitted to both parties, giving them the opportunity to voice any queries or concerns and ensure all relevant factors had been taken into account.

Through this process, we were able to submit a final report to the courts that was both binding and acceptable to both parties, effectively resolving what could otherwise have been a time consuming and costly process for all sides.

FD in The Cupboard

FD in The Cupboard

For smaller companies, it is often not possible or cost effective to pay for a full-time Financial Director.
Many of our clients therefore make use of Tearle & Carver’s extensive expertise to provide the services of an FD as and when required.

In this case, we were approached by the management team of an organisation looking to acquire the existing business via an MBO (Management buy out). Their business plan had proved ineffective for securing funding, and what they needed was financial expertise from someone with a developed understanding of the company’s internal workings.

Tearle & Carver helped deliver the solution our clients were looking through utilising our bank contacts in order to make the MBO viable, while also building a robust business plan and preparing our client for the rigorous vetting process. To help with cash flow issues, we introduced factoring which led to improved cash flow management.

We advised on the appropriate business valuation and structure, and continued to prepare monthly accounts to track profgress once the management were fully in command of all the information they needed to move their business forward.

In order to best assist these clients through the crucial first year of ownership, we attended board meetings on a regular basis, a service that we continue to provide to date.

With our continually developing understanding of their business, this client is able to remain confident that Tearle & Carver can provide any financial support they may need, now and in the future.