• Bookkeeping and accounts
• Annual accounts for sole trader
• Monthly or quarterly management accounts
• Budgeting and business planning
• Income tax return for sole trader
• Corporation tax return for companies
• VAT and investigation
• PAYE

About Us

Based in Sheffield, William Lai and Co is a competent firm offering professional accounting, taxation, VAT, capital allowances, business audit and planning services to clients throughout Sheffield and the neighbouring towns. Established in 2007 the firm has many years experience, particularly in the property investments and construction sector.

Helping clients to solve complicated tax issues in a timely manner, the company provides businesses with a professional accounting service. With up to date knowledge and fully qualified staff, the service is designed to be cost effective.

The firm is managed by William Lai who has been involved in the accounting profession for over 25 years. William Lai is well trained to run the firm, having previously worked for a big PLC, property investments and construction industry.

William Lai is a member of the Association of International Accountants (AIA) in the UK and Hong Kong Institute of Certified Public Accountants (HKICPA) in Hong Kong.

He practises under the practising certificate of AIA. He reads and writes good Chinese and English and he speaks fluent Cantonese and English and medium level of Putonghua. Therefore, he serves Chinese and English clients competently. No language barrier!

Business Start Up

Before you start up your business you need to consider the following:

1) Sole trader, partnership or company

2) Source of capital

3) Consent, permits or licence for your business

Please click this link to the Business Link website where you will find loads of information regarding START UP A BUSINESS. http://www.businesslink.gov.uk/bdotg/action/layer?r.l1=1073861169&r.s=m&topicId=1073858805

4) You will need to register with HMRC as soon as you have commenced trading otherwise there is a penalty.

When to register

It's best if you register with HMRC as soon as your circumstances change. The latest you should register is by 5 October after the end of the tax year for which you need a tax return. The tax year runs from 6 April one year to 5 April the next.

If, for example, you have tax to pay on rent from a property in the 2011-12 tax year, you need to let HMRC know by 5 October 2012. If you register late you may have to pay a penalty.