Many small business owners make the mistake of trying to do everything themselves. Unfortunately, this could cost them significant time and money.
People underestimate the amount of time it will take to do their own self-assessment tax return and accounts. That time would be much better spent working on the business rather than in it.
Accountancy fees qualify for tax relief in the accounts. Unfortunately, there is no deduction available for your own time – however long it takes.
With the regular changes in the tax regulations, you may also miss out on allowances and reliefs. As a result, you could also end up paying more tax by trying to do things yourself.
If you are looking for a qualified professional for your tax and accounts, I can help you.
I offer a range of packages that cover the self assessment tax return and business accounts. They also provide help throughout the year for the one fixed fee.
My clients can relax, rather than worry about receiving a bill every time they get in touch.
There are two packages available for the self-employed. They differ on whether you need help with the bookkeeping or are happy to maintain your own records.
I also have a package for employees or those in receipt of pension income but need help with their tax.
Discounts are available if there are several tax returns to complete together. I can also help people get up to date where they may have fallen behind with their HMRC obligations.
All the packages include the below benefits:
– Ongoing support throughout the year to answer any general tax and business queries you have.
– Making sure that you are using all the allowances available to you, so that you pay the right amount of tax.
– Meetings at a time and place to suit you. I also have several meetings available each month outside of normal business hours. This includes early mornings, evenings and at the weekend.
– Explanation of the return requirements and help with obtaining any information.
– My monthly client newsletter. This provides summaries of any key changes that affect personal tax as soon as announced.
– Preparation and agreement of the tax return and accounts. Preparation of the accounts from summary schedules provided by you. You may prefer to keep them on spreadsheets or via online bookkeeping. Or preparation from the actual invoices and receipts if required under the bookkeeping service.
– Providing detailed tax computations & planning schedules. Electronic pdf copies for your files are also available. Explaining these in detail and also covering how they are used for business growth.
– Online submission of the return to HMRC. The return will be processed by HMRC as soon as possible and any refunds issued without delay.
– Agreement of the tax return with HMRC where any queries arise.
– Dealing with any HMRC correspondence throughout the year. You can then concentrate on other matters.
– Issuing reminders to you for upcoming tax deadlines.
There are three key points you should consider when engaging an accountant:
1) What are their qualifications?
Anyone can call themselves an “accountant”, even if they are not qualified.
I am dual qualified in tax and accounts. I’m also registered in practice with, and a fellow of, the ATT. The ATT is the oldest and largest professional body for UK tax compliance.
2) What is their experience?
When I founded my own practice in 2006, I had already spent 17 years building up my experience. I’ve run the tax department for a Surrey accountancy firm, and also worked with a big four firm over the years.
Since founding taxhelp.uk.com I have specialised in helping one person businesses.
3) What are the costs?
Unfortunately, there can sometimes be confusion between a quote and an estimate. My fees are actual fixed-fees rather than an estimate, so you can be reassured from the outset. My fees shown are also the actual total you pay. Many practitioners quote their fees excluding VAT, so this could mean a nasty surprise.
I specialise in helping small businesses who operate below the VAT registration limit. For them VAT added onto fees would mean an extra 20% cost to their business, that they were not expecting.
Payment for services is usually made by bank transfer. I can also invoice you via PayPal for payment by cards securely online if you would prefer.