Norman Elliott

Services

Please take a look at the services we offer.

Accounting

We are a highly versatile team, enabling us to deal with any business and any type of business records. Our experience covers all sectors – commercial business, farming, fishing, legal and professional sectors, retail and distribution, manufacturing and engineering. We understand Margins, Net Returns and Financing, enabling us to help you take your business forward.

Tax

Our Tax Return and Management Services are operated to meet your requirements, to ensure that you comply with all deadlines and demands, eliminating penalties and charges. Our Tax Planning work is designed to let you retain the reward of your hard work, with workable solutions and structures for the long term.

Consulting

There are so many things you may want to do. Re-finance. Acquire a business. Acquire land and property. Sell your business. We advise on all of these. We know the requirements and processes of banks and finance houses, and we can create your plan to make things happen.

Based in Downpatrick, we work with private clients in Belfast, Co Down, and Co Antrim.

Modern technology enables us to extend our reach throughout NI and the rest of the UK.

Making Tax Digital

What it is and how we can help you deal with it.

The Changes

The future of accounting will be online and digital. There is no escaping this trend.

Business owners need to embrace digital and online accounting, to be prepared to deal with the changes to accounts and tax submissions that will become law in due course. Adapting to online accounts now will make your life much easier later.

Modern bookkeeping systems will be in the Cloud, enabling remote access by you and your staff from any location. That is a huge change in itself. No more disc searching, back up boxes.

These systems are going to be maintained and linked automatically to source material - invoicing, banking records, etc - giving you contemporaneous records and real time financial reporting. You will be able to monitor your business results on a daily basis.

And it will also give you the tools to make direct submissions to HMRC in the process they are calling Making Tax Digital.

The Solutions

We work with, and have experience of, all of the main cloud bookkeeping providers - FreeAgent, Quickbooks, Xero - and can take you through the process of taking your accounting online.

Our joint access to these systems enables us to monitor your bookkeeping and accounting records, directing you to where matters needs to be reconciled and maintained, ensuing your records are satisfactory for submission purposes and decision making.

We also work with Bank software for small businesses operating their banking through one of the many new Challenger Banks.

All of these systems will save you time and more importantly, will reduce your accounting costs!

About Us

Who we are and what we stand for.

Our Mission

At Norman Elliott Chartered Accountants, we believe there is a better way to do accountancy. A more valuable, attentive way where clients are earned, not bought. We’re dedicated to business and we’re dedicated to our clients’ businesses.

Our Promise

We deliver a positive optimistic service for the management of your accountancy and tax functions. We’re efficient and timely, adding value for you. We help you maintain, develop and grow your business. How? By giving you advice, by saving you unnecessary tax bills, by saving you time….letting you get on with the matters you’re expert in.

Our Essence

At our core, Norman Elliott Chartered Accountants operates on trust, integrity, hard work, imagination and impact. We use our expertise in accounting and tax, so you don’t have to.

Our People

We have a brilliant team of capable and friendly staff, enthusiastic about our work, enthusiastic for you. Whatever our role within Norman Elliott, you’ll receive the same level of dedication. We’re moving forward with our use of technology and digital accounting. But we’re not losing sight of what you need.

Join Us Today.

Norman Elliott Chartered Accountants.

Authorised and regulated by the Institute of Chartered Accountants in Ireland.

Our Experienced Team

Introducing our key staff.

Norman Elliott FCA

Managing Director

Norman has a wealth of practical business experience. After a degree at LSE, he qualified as a Chartered Accountant with Price Waterhouse, then worked overseas, before founding Norman Elliott & Company in 1992. Norman grew and developed this business from scratch to become a leading independent firm in Lisburn, and sold it to a Belfast based practice in 2013. He joined a large UK national accounting practice as partner, spending three years advising and managing family businesses and companies in Cumbria and Yorkshire. Norman returned to NI in 2017, and acquired an interest in a private practice based in Downpatrick. He renamed the business, expanded it, and has opened a second office for the firm, in Lisburn. Norman has lived in Ballynahinch for over 25 years with his wife and two sons, and is well known and widely connected in business circles. He acts as a non-executive director for a number of private and charitable companies.

Joe Kennedy FCA

Business Services, Accounts & Tax

Joe trained and qualified as a chartered accountant with a large practice in 1991 where he developed the skills required to advise family businesses in issues of Accounting and Tax. Joe has many years of experience in the preparation of Statutory Accounts and Management Accounts, and provides advice on business structures, management systems and financial forecasting. In taxation, he has significant knowledge of Tax compliance and systems, making a major contribution to client’s businesses in the mitigation of costs, penalties and time. Joe takes an interest in general accounting computer software and hardware, and has assisted and advised numerous businesses when they were faced with changes, new equipment, and new systems. Joe lives in Co Down and his interests include restoring classic cars.

The Taxation Times

Stories & Updates about Tax & Accounting

Go Back

22/08/19 15:56

Simplifying the UK Tax System - where to start

The new Chancellor of the Exchequer is unlikely to read this website or our Blogs, but who knows?...Mr Javid recently spoke of the desirability of simplifying our incredibly complex tax system. I'm going to offer him three starter Tips...

1. There are two PAYE Reference for every employer. A PAYE Reference number for submission of Returns and a PAYE Accounts Office Reference number for making payments. This causes immense confusion to business owners. We recommend the abolition of the PAYE Accounts Office Reference number and the use of the PAYE Reference number for all communication and payments

2. The Married Allowance is only available if a Spouse has income under the Personal Allowance £12,500 and if the other Spouse is a Basic Rate Taxpayer. It is worth £230 per year to a qualifying couple. It is not given by HMRC. It has to be applied for, and the application process is cumbersome and difficult. We recommend its abolition and the automatic gifting of a new Married Allowance to all legally registered couples.

3. IR35 is an arcane complex set of tax rules seeking to tax the owners of some companies as if they were employees. HMRC saw an unfair tax advantage for companies compared to individuals working on single contracts, and that is a reasonable analysis, but what's been created is unworkable for both HMRC and relevant taxpayers. A simpler solution would be to increase either the Corporation Tax Rate or the Dividend Tax Rate for individuals.

If you are affected by any of the above, or confused about any tax matter, please do contact us and we can offer you a jargon free explanation.

Simplifying the UK Tax System - where to start

Written by: Norman Elliott FCA

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You can write, phone, email or get a quote using the form.

Norman Elliott

Chartered Accountants

13 English Street
Downpatrick
BT30 6AB
UK

phone : 02844 616413
mobile : 07802 675837

email : info@elliottlaverty.com

Services

Please take a look at the services we offer.

Accounting

Tax

Consulting

Making Tax Digital

What it is and how we can help you deal with it.

The Changes

The Solutions

About Us

Who we are and what we stand for.

Our Mission

Our Promise

Our Essence

Our People

Join Us Today.

Our Experienced Team

Introducing our key staff.

Norman Elliott FCA

Joe Kennedy FCA

Stories & Updates about Tax & Accounting

Simplifying the UK Tax System - where to start

Contact Us

You can write, phone, email or get a quote using the form.

Norman Elliott

Chartered Accountants

Get a quote using this message form