Choose from our packages or call us to discuss
Fee below include Xero subscription – save up to £25 per month by using Freeagent
£75 +VAT per month
£125 +VAT per month
£175 +VAT per month
Start-up support – included in all levels
£35 +VAT per month
£75 +VAT per month
£105 +VAT per month
Start-up support – Included in all levels
You may want to know….
Xero is THE cloud based record keeping system for small businesses. from the outset it was designed by a businessman for use by small businesses, NOT just for accountants. This means that it is easy to use and will save you loads of time.
Read more about Xero here.
If you are not already using Xero we can help you set it up for your business and even move you away from its lesser rivals such as Quickbooks or Sage.
Hubdoc is closely linked to Xero. It processes and uploads documents such as receipts and invoices to Xero. It even digitises PDFs and paper based documents. Users no longer need to spend hours of their valuable time re-keying data into the their records.
We will handle the transfer of your accounting to us for you. Apart from letting them know you will be transferring you do not need to worry about the handover:
1 – We will contact them to arrange transfer of any records needed to continue services
2 – We will inform HMRC that we will be representing you in future
3 – What’s more, if you have been paying a monthly fee we will not leave you out of pocket. We will not charge you again for the months since your last year end (“Catchup fees” to use the normal accountants lingo). This is out promise to you, even if 11 months of the year have passed
VAT is a sales tax charged by nearly all big businesses and many small businesses. If you are VAT registered, you will usually, not always, charge VAT on your sales. Your business will also pay VAT on many of its purchase whether or not you are VAT registered.
A business with a turnover of less than £85,000 per year does not need to be registered for VAT. Above £85,000 you will at least need to consider registering. Its a bit more complicated that that though; the £85,000 threshold is for “VAT’able turnover” which is different from total income. Its complicated and an area where your will probably need advice from an accountant.
As a new business owner, the answer is almost certainly “Yes”. The real question is what sort of help you need.
You may want to do your own bookkeeping which makes sense whilst your business is starting up. To help you get started, why not take advantage of our FREE Xero training. We do it one to one, online, so you have plenty of time to chat with the instructor, who is a wizz with Xero.
With a larger business, you may well find the bookkeeping is one task too many. You can ask us to do it all for you, freeing up your valuable time to build your business.
Your business needs a structure, particularly for dealing with HMRC. The choice is probably either sole trader or limited company. Other options do exist but that is something we can discuss when you contact us.
This is the simpler business structure. Legally, the business is you; its indistinguishable, inseparable, part of your personal affairs. Apart from informing HMRC, you do not need to “register” it. It is easy to set up when you start and to close down if you stop. You do need to keep financial records and submit tax returns but these are simpler than for limited companies.
A limited company is a more serious concern. It has its own legal identity, separate from the owner. This does bring both advantages and disadvantages to the owner.
On the plus side:
– You are somewhat protected from the financial risks of running a business. If, say, the business is sued by a customer, the owner is not personally liable. In practice, a gaming business is not going to be exposed to big risks so this is unlikely to be a big concern
– You can pay less tax. This is not always the case; its a specialist area where you should really seek advice from an accountant
– If you end up in the happy position of someone wanting to buy the business, being structured as a company makes the whole process easier and less risky
On the down side:
– You must register the company with Companies House as well as HMRC
– You will need to meet more stringent requirements for record keeping, reporting and taxation; an accountant can take care of this but their fees will be higher than for a sole trader their work is greater
Its worth appreciating that you are not stuck with a structure throughout the life of the business. You can swap between sole trader and limited company status. Changing from sole trader to limited is pretty easy, whilst changing from limited to sole trader is a bit more difficult. For this reason, businesses often start out as sole traders and convert to limited status once they are more established and more profitable.
We would hate to see your go; if anything is wrong let us know and I am sure we can fix it.
But if you do still want to leave, we will will make it as easy as possible. You are not locked into long-term contracts and we will ensure the hand over to your new accountant is smooth and efficient.