Please click on the links below to find out more about the services we offer:
Most businesses are required to produce annual financial statements, usually for legal or taxation reasons. At Rosscot, as well as preparing the accounts as efficiently as possible, we try to add value to the process by highlighting any trends or potential efficiencies that might improve performance. Most often we will act as taxation agents to a business and its owners so the preparation of accurate accounts is key to our ability to understand the business and give the best advice.
Once they reach a certain size, many businesses need to monitor and understand their financial performance more often than just at the accounting year-end. We are able to assist in producing timely and meaningful management accounts, on a quarterly or monthly basis. Using our knowledge of many of the most used accounting software packages, we can often extract and analyse data that is already within the businesses’ own accounting system. By having this up to date information a business is able to take decisions to correct and improve performance throughout the year.
We provide audit services to our Jersey clients and possess detailed knowledge and experience in the following areas:-
• trading companies
• trust companies and their clients
• professional practices
• clubs, societies, charities and not-for-profit organisations
Our team aims to complete their audits in a professional and timely manner whilst actively providing feedback to clients on improvements that could be made to their internal control procedures .
Through our tax team we are able to provide a variety of services to our clients including tax compliance and advice. Below is a summary of these services:-
• Preparation and submission of personal tax returns
• Preparation and submission of company and business tax returns
• Advice on the setting up of new businesses
• UK non-resident landlord advice
• In-depth UK taxation advice utilising our specialist tax consultant
• Preparation of GST returns
• Preparation of ITIS returns
We are constantly monitoring local tax issues including any changes to the law and are always available to assist with tax planning and tax compliance matters for individuals, sole traders, partnerships and companies.
We can provide assistance with the bookkeeping and administration of your business to include the following services:-
• Bookkeeping of your accounting ledgers
• Preparation of ITIS, Social Security and GST returns
• Payroll administration
• Preparation of periodic management accounts
• Management of supplier bills
Our team provides a cost-effective service which enables businesses to concentrate on running their business rather than being burdened with day-to-day administration.
Getting advice prior to starting up in business is essential to ensure that all of the paperwork has been correctly completed and to provide a solid platform to build upon. Typical considerations are whether to set up as a sole trader, a partnership or a limited company. In addition there are taxation, financing and staff employment issues to think about, to name but a few.
We have considerable experience of helping with business start-ups and are able to provide peace of mind at what can be a stressful as well as exciting time for a fledgling business.
Company secretarial / formation services (via Rosscot Secretaries Limited which is regulated by Jersey Financial Services Commission):
Our company secretarial team is well known in Jersey for providing a quality, professional and timely service. All Jersey companies require a registered office and must maintain certain statutory books and records. We take care of this for many of our client trading companies as well as handing all their accounting and tax needs. We also act for a large number of share transfer apartments, including liaising with lawyers on purchase and sale of the properties and arranging the annual general meetings.. The services provided include:-
• Company formation
• Provision of company secretary
• Registered office
• Nominee shareholding
• Preparing minutes and official notices
• AGM preparation and attendance
Our team are fully trained to provide advice on the selection of accounting software packages together with the subsequent implementation and training. The most commonly used accounting software packages are Quicken, QuickBooks and Sage of which we have in-depth knowledge.
In addition we are able to write additional programming code enabling seamless integration of separate software systems.
We are able to provide accounting staff on a contract basis. Our team has considerable experience in assisting trust companies, funds administrators and banks with their accounts preparation functions and ad-hoc projects. Many of our team have previously worked within these areas themselves and therefore have a good understanding of the administration principles involved as well as the expected accounting knowledge.
We will always provide team members who are most suited to the job at hand, finding the right balance between experience and cost.
Business valuation and share based transactions:
The provision of advice on the purchase or disposal of a business encompasses many areas requiring consideration such as the valuation of the business, the calculation of taxation payable and the surrounding accounting issues. Over the years, we have helped numerous clients successfully to acquire or sell businesses operating in a variety of different industry sectors. Our staff are fully conversant with the need for the utmost discretion involved in any such negotiations.
The demand for forensic accounting services has increased in recent years and includes many different scenarios such as:-
• Business disputes
• Matrimonial settlements
• Investigations: financial and fiscal
• Financial information for insurance claims
Invariably the above areas involve significant financial and emotional issues which need to be dealt with in an appropriate and effective manner. Our depth of knowledge and exposure to all areas of business enables us to bring together this experience to tailor the service which we provide for each and every client.