Our Services

Preparation and filing of year-end accounts with Companies House and HMRC

Preparation and filing of Corporation Tax Return

Preparation and filing of Confirmation Statement

Monthly Bookkeeping

Monthly Bank Reconciliation

Monthly Payroll

Monthly supplier payment runs

Monthly Management Accounts

Quarterly meeting with your Accounts Manager


Xero Bookkeeping Training

Xero Payroll setup and Training

Quickbooks Bookkeeping Training

Company Formation

PAYE setup

VAT Registration

Pension setup

Accounting system setup

CRM setup

R&D Tax Credits

Due Diligence

Business Plans

Cashflow Forecast

Individual’s Personal Tax Return

Dividend planning

Tax planning

Advice on Foreign income taxation

Advice on Property Income


Company Accounts

Company accounts

Registered limited companies are required to file end-of-year accounts with both HMRC and Companies House. To achieve this compliance (on the basis of your bookkeeping records), Watermill Accounting can prepare those end-of-year accounts in accordance with the applicable Accounting Standards and Companies Act which can involve:

  • The preparation and filing of statutory or abbreviated accounts with Companies House
  • Assistance to complete and file the Annual Return at Companies House
  • Help with other company secretarial matters

Company Formation

company formation

We provide a simple and time saving, complete, same day company formation service involving:

  • Digital Certificate of Incorporation
  • Digital Copy of Memorandum & Articles of Association
  • Digital Share Certificate
  • Business Bank Account with either Barclays or HSBC

Please download and complete this form emailing it to and we can incorporate your company in two working days.

Corporation Tax

corporation tax

Watermill Accounting provides its clients with the latest statutory tax allowance information, personal or corporation tax rates and updates on the various aspects and impact of tax law. We can file businesses Corporation Tax returns with HMRC and claim expenses, alongside other specialised tax services that we provide including:

  • Tax Planning
  • Electronic Filing with HMRC
  • R&D Tax Credits


Bookkeeping is a crucial part in improving any business’s cash flow and our fully trained bookkeepers can update your accounts on a daily, weekly or monthly basis according to your requirements.

To complete either online and desktop bookkeeping, simply send us your receipts and we’ll be happy to work with your business’s existing software – or can suggest the most suitable accounting software of which free (or low cost) packages are available.

Personal Tax Returns

personal tax return
If you are a director of a UK company you are required to complete a personal tax return.

Watermill Accounting can do this on your behalf, helping you save time and ensuring that the nothing is forgotten so that it is filed correctly.

Auto-enrolment for Pensions

auto-enrolment for pensions
If your business employs staff, you are obliged to set up a pension scheme for them.


Pension Setup –  Premium 

Watermill Accounting’s auto-enrolment for pensions service helps you choose the best scheme for your company by providing a report comparing up to 6 schemes.  It will then set up the scheme and pass all the necessary information to your payroll provider. Once you have chosen a scheme Watermill will set it up for you.  The service includes:

  • Sending communications to employees
  • Setting up your chosen scheme
  • Enrolling the employees to the scheme
  • Submitting the Declaration of Compliance with the Pension Regulator


The above service costs £600+VAT


Pension Setup –  Basic 

We will set up your pension with NEST (the government pension scheme).  The service includes:

  • Sending communications to employees 
  • Enrolling the employees to the chosen scheme
  • Submitting the Declaration of Compliance with the Pension Regulator

The above service costs £200+VAT






If your business employs staff, you are obliged to establish a payroll system to subtract the correct amount of tax and National Insurance Contributions (N.I.C) from their pay. That system must be capable of handling any changes in employees’ taxable benefits (e.g. company cars), and other deductions (e.g. pension contributions or student loan repayments).

Watermill Accounting can prepare a business’s weekly or monthly payroll, calculating the necessary Income Taxes, N.I.C and send both the employer and employees electronic payslips. In addition to this we can file your monthly PAYE R.T.I (Real Time Information) Return and help claim an employer’s National Insurance allowance.



There are three rates of ‘Value Added Tax’ (VAT) levied across a range of goods or services – Standard (20%), Reduced (5%) and Zero Rated (0%). Businesses must register for VAT with HMRC if their turnover for the previous 12 months exceeds £82,000 and if:

  • Your turnover may go over that threshold within the next 30 days
  • You acquire a VAT registered business as a going concern
  • Sell goods into the UK from another EU country and exceed the ‘Distance Selling Threshold’
  • Purchase goods totalling more than £82,000 from other EU countries in a single year

Watermill Accounting can assist with the VAT registration process, but we must notified promptly for this to occur within one month following the month you exceed the VAT threshold. We also offer advice regarding the various VAT schemes in operation and (based on the information supplied) prepare quarterly VAT returns filing them electronically with HMRC after your approval.



Our all-inclusive service involves an ‘IR35’ review and assessment of your agency contract, where a ‘Pass’ means that contract adheres to ‘IR35’ and a ‘Fail’ indicates it falls outside. Should it fail, we will highlight any necessary amendments and suggest clauses that could be added, happily re-assessing once they have been made.

This assessment is free if you sign up for our contractor services .

R&D Tax Credits

r&d tax credits
Administered by Her Majesty’s Revenue & Customs (HMRC) to foster the governments aim of supporting innovation and investment in new technology by Small & Medium Sized Enterprises, this relief totalling up to 33.35% of the qualifying R&D expenditure can be received as cash payment or offset against corporation tax.

If you are undertaking Research & Development (R&D), but uncertain if you could claim tax relief? Watermill Accounting’s expertise has helped businesses in a variety of sectors from Robotics and Medical Science to Environmental Technology successfully receive either a payment or tax deduction against their R&D expenditure. Operating on a ‘No-Win-No-Fee Basis’, we can review and help maximise your R&D claim lodging this with alongside your corporation tax return.

Please contact us if you are engaged in any form of R&D to discuss this further.