Small Business Accounts

Simplified accounts are for those people who are self-employed with a turnover of less than the current VAT threshold.

Below are 22 benefits associated with this service:-

1. Initial Consultation and advice; Establish what you are doing now and where you want to be in the future.
2. Registration for Tax and National Insurance (applying for NIC exemption if this applies); advise you of correct start and year end dates and keep copy of this documentation.
3. Add you to our online list so that we have authority to talk to the tax office on your behalf and see your current situation at any time
4. Add you to our database so we can make referrals to you, write to you requesting information for your year end accounts, to flag up if your information or tax returns are not filed so you avoid penalties, or anything else we want to alert you about
5. Find out about you and your family’s personal circumstances to ensure you are all obtaining the tax reliefs you are entitled to
6. Verify lodgements to make sure it matches your income records and / or to keep a record of any explanations in case the tax office try to tax you on those lodgements
7. Analyse whole year direct debits, cheques and receipts into correct headings and compare with your previous years and / or competitors
8. Ensure you are claiming all expenses possible to reduce your tax liability
9. Claim tax relief on any motor vehicles and plant and equipment you use in your business and advise of tax implication of buying, selling or changing these
10. Calculate and advise of your income tax liability
11. Prepare year end income and expenditure account; benchmark this against your targets and competitors. Free end of year meeting to discuss accounts, record explanations for anything different and set out your plans for the next year
12. Complete tax return online and verify tax computations, submitted with us as your agent and on time to avoid any penalties
13. Provide you with a tax liability schedule detailing tax payable and dates due
14. Provide you with a Certified Income and Expenditure account each year and a copy for your bank if required
15. Keep a copy of anything we submit for you on file
16. Advise you of figures for tax credits purposes
17. Send you a copy of our monthly E-newsletter and budget updates
18. Phonecall queries; we will keep notes of these during the year to ensure that any tax advantage from our talks are reflected in your accounts
19. Return all your calls and emails within a day
20. Follow up all outstanding items within 30 days
21. Provide our clients with the option to take out fee protection insurance so we can deal with Tax Enquiries at no cost to you
22. We will aim to help you achieve your personal goals by building a lifetime relationship where we help you make as much money as possible and pay the minimum amount of tax.