Personal Consultation

All of the leading software providers have cloud-based (i.e. online) solutions which allow me to access your books from anywhere, at any time.

These same systems often allow bank-feeds to be set up, and can enable you to email invoices/photos of receipts directly into the software for me to action for you.

Alternatively, there are many file sharing options which will allow you to securely send over statements, invoices, receipts and any other documents.

Yes.  I understand if you would like to do your own bookkeeping and simply have me check your work when it comes to submitting your VAT Returns.

MTD is the government’s plan to move to a fully digital tax system, and it will carry the force of law. It already applies to VAT and will be rolled out to Self-Assessment and eventually Corporation Tax. Businesses and individuals affected must keep digital records and file returns using approved software.  Requirements are being introduced in stages, so if you’d like advice on getting ready for MTD, please get in touch.

VAT (Value Added Tax) is a tax that is charged on most goods and services sold in the UK. VAT is charged at different rates depending on the type of goods or services being sold, and is typically added to the price of the item or service.

Self-assessment is a system used by HM Revenue & Customs (HMRC) in the UK for individuals and businesses to report their income and expenses for tax purposes. Taxpayers are required to submit a self-assessment tax return each year by the deadline, which is usually 31 January.

A sole trader is a self-employed individual who is responsible for all aspects of their business, including finances and liabilities. A limited company is a separate legal entity from its owners and offers limited liability protection for its shareholders. Limited companies are subject to more complex accounting and reporting requirements than sole traders.

Corporation tax is a tax that is levied on the profits of UK companies and organizations, including any gains from selling assets (e.g. land, property or shares) that have increased in value. As of the 1^st April 2023, the current rate of corporation tax is 25% for companies with profits over £250,000. Though small businesses with profits of less than £50,000 will be required to pay 19%.

Annual Accounts refer to a company’s financial statements which lawfully must be submitted to HMRC and Companies House and must be in a statutory format.  Management Accounts are those prepared for key business members and can take any format, as they are only for internal use.

Payroll is the process of calculating and paying employees’ salaries or wages, including deductions for tax, national insurance contributions, and other benefits. Payroll can be a complex process, particularly for businesses with multiple employees, and can require specialist knowledge of tax and employment law.

A balance sheet is a financial statement that provides a snapshot of a company’s financial position at a specific point in time, including its assets, liabilities, and equity. A profit and loss statement, also known as an income statement, shows a company’s revenue, expenses, and profit or loss over a specific period of time, such as a year or quarter.