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Tips to Find the Right Small Business Tax Accountants in London

Tips to Find the Right Small Business Tax Accountants in London

Being a small business owner in London, it becomes inevitable for you to wear a lot of different hats and play different roles within your business. There are plenty of entrepreneurs and businesses across the United Kingdom that are operating on a limited budget; thus, it is understandable that many of them have to manage their accounts by themselves. However, this is because most of them are not aware of just how much of a difference in hiring an accountant can make to their business.

If you are a small business owner who wants to make sure of the continual success of his/her business, then finding and hiring a small business tax accountant is extremely important. Here are some pro tips by ob体育首页下载安装 to help you find the right small business tax accountant in London.

Tips to Find the Right Small Business Tax Accountants in London

  1. Offers Practical Tax advice : Every business or individual earning over the suggest VAT threshold has to pay taxes; hence, tax is an inevitable outgoing. But, there are plenty of ways that you can save your money on your tax bill – and that too legally. Find a small business tax accountant in London, who is well-versed with all the tax laws and legislations, so that he/she can help you plan effectively to reduce your overall tax burden, while still ensuring you are in line with all tax laws.
  2. Offers All the Fundamental Accounting Services : A tax accountant or an accountancy firm that you hire to manage your business accounts should be able to provide a variety of services to you and your business such as accounting, bookkeeping, tax returns, record keeping, and payroll. By hiring an accountant who can offer you all these fundamental services, you can closely observe all your financial transactions and make sure you are obeying all HMRC tax compliance and where you are financially standing at the end of every month. A small business tax accountant in London can set up accounting software and bookkeeping systems, saving you time, money and hassle when it comes to preparing financial statements and annual tax returns.
  3. Offers Business Advisory : An experienced tax accountant can give you some really useful advice over your financial situation and business environment. Based on his/her perspective, an accountant can provide a high level of insight across the board – everything from business and marketing plans to retirement planning. Thus, find a tax accountant or an accountancy firm in London, who is experienced enough to offer you productive business advisory.
  4. Find One Who Fits Your Business : Make sure that the tax accountant or the accountancy firm you hire in London for your business has experience in the sector and size of business that you are operating. For instance, if you are an IT agency in the UK, then don’t choose an accountant whose speciality is automobiles. Similarly, do not hire an accountant who specialises in large businesses, if your business is small because the needs will be very different.

Hire Tax Accountant in London

Many people depend on your business for income, guidance, products, services, and more. One bad year of tax planning can put all of your hard work down. Therefore, you need to find a tax accountant who is experienced and ready to take on challenges whenever required.

At ob体育首页下载安装, we have a team of certified and experienced tax accountants in London, who are hardworking and well-versed with the tax compliances in the UK. If you are looking for a small business tax accountant in London, then contact ob体育首页下载安装 for a free consultation and trial. To schedule a free consultation, please call us at https://affinityoutsourcing.net or give us a call at 0203-848-4450.

Accounting and Bookkeeping Services for Small Businesses Across the UK

Accounting and Bookkeeping Services for Small Businesses Across the UK

Bookkeeping Services for Small Businesses

As a part of cost-cutting, small business owners play multiple roles at a time, and they try to give their best in what they do. They deliver the best-quality services and products, leaving them less time to maintain their accounting and finances. Many of these companies can save themselves by taking the help of small business accounting and bookkeeping services, and this is where we enter the play.  We offer Accounting and Bookkeeping Services for Small Businesses across the United Kingdom.

ob体育首页下载安装 is an accountancy firm located in London, and we are known for offering accounting and bookkeeping services to small and medium-sized businesses in London, Harrow, and Wembley and across the UK. Driven by industry veterans, our teams have highly skilled and experienced professionals for accounting and bookkeeping with the commitment to serve your business at the highest level. Our accounting and bookkeeping services are ideal for small and medium-sized companies across the UK.

Rewards of Our Accounting and Bookkeeping Services:

  1. Improve Collection : We can help small businesses improve their collection by improving documentation and invoicing.
  1. Make More Profit : We can help small businesses increase their profit margin by keeping their financial data up-to-date and presentable as and when required.
  1. Save You Time : By allowing our bookkeepers to take care of their books, businesses save huge time. Entrepreneurs can spend this time focusing on more productive business activities.
  1. We Help You Maximize Cash : Being a reputable accounting and bookkeeping service provider, we help businesses maximize their cash. They can also get daily, weekly, or monthly reports to make better cash decisions.

We are the Best Small Business Accounting and Bookkeeping Services Provider:

Get complete accounting and bookkeeping solutions with ob体育首页下载安装. We offer a full range of bookkeeping and accounting services for small-business owners to comprehensively cover all their accounting needs.

  1. Business Bank Reconciliations
  2. Credit Card Management
  3. Accounts Receivable
  4. Accounts Payable
  5. Sales Tax
  6. Payroll

Small Business Accounting Services London :

Our dedicated small business accounting services range over the most vital areas of finance and accounting. When you hire us to take care of your accounting tasks, our services cover financial reporting, tax returns and strategy, and more. Our skilled accountants for small businesses can easily manage all your needs; thereby, giving you more time to focus on other important aspects of your business.

Small Business Bookkeeping Services London :

The job of a bookkeeper is to take care of the day-to-day financial tasks of a company. Our bookkeeping services work well with small businesses in London. Our bookkeepers collect and process data about purchases, receipts, sales, and payments. Moreover, they can also work with the in-house accountant of a small business to efficiently maintain the financial data.

Get the Best Bookkeeping and Accounting Services in London, UK 

Our accounting and bookkeeping services are not at all expensive. It varies a lot depending on the nature of the work and the experience of the accountant. Also, we don’t force our clients to sign any unnecessary contracts or bonds. When you use our services, you’ll be able to tailor a monthly payment according to your needs. ob体育首页下载安装 will work with you to create the best plan for your business.

Speak with an accountant to see how we can help your business grow: Call +44-20-8903-2077 today or visit our official website to know more about our services .

Important Tax Tips for Small Businesses in the UK

Important Tax Tips for Small Businesses in the UK

Maintaining a business is an overwhelming task for most business proprietors. This is particularly valid for small business owners. Small businesses need to deal with inventory management, promotions, deals, marketing, bookkeeping and accounting, among numerous different business errands. Presently, with such a significant number of things to deal with, small businesses may tend to forget something as vital as, taxes. Also, a slip-up like this can truly cost enormous! Regardless of whether small business proprietors know about the significance of recording tax returns and tending to different taxes apropos, they still be facing issues in carrying out such exercises.

So if you are a business owner in the UK, and are facing in keeping up with your accounts or taxes, then you should continue reading as we present you some of the most important tax tips, which could best match the requirements for small businesses.

Tax Planning: It is Essential

A productive tax arranging is essential for small businesses who need to guarantee that their tax risk is at a minimum level. By maintaining a low tax bill, businesses can avail smooth cash flow. This further leads to better business expansion and growth.

Making a successful arrangement for tax risk isn’t excessively troublesome. You simply need to discover and comprehend what tax commitments your business has and what alternatives you need to address them. Examine them regularly, and you will do fine in regards to your business tax undertakings.

Stay Organized with Your Financial Records

Up-to-date financial records help demonstrate the genuine picture of taxes and funds. Thus, staying up with the latest is important. You might surmise, that you are running only a small business and don’t need to invest in keeping your financial records organized. In any case, remember that for the most part there are a lot of transactions occurring in an average small business consistently. Not recording one or a couple of transactions will give you an inaccurate summary of your business accounts. This can later affect your business severely and may even welcome HMRC examination. Hence, keeping your business’s financial records organized is vital. Doing appropriate bookkeeping is one approach to guarantee that everything is well organized and up-to-date.

Safeguard the Tax Records

Numerous business proprietors commit this error – dumping the tax records of the earlier years in places where they won’t meddle with their everyday business exercises. This is not at all advisable. As a matter of fact, even the HM Revenue and Customs (HMRC) suggests keeping the records for no less than 22 months . Keeping the old tax records helps in readiness of the most recent tax returns, planning of budgetary articulations, tracking expenses, and checking the progress of your business in addition to other things.

Hire a Small Business Tax Accountant

In spite of being sufficiently cautious, there are situations when tax issues can emerge. Such issues could be exceptionally intricate for common business alone to manage and resolve alone. This is where an expert small business tax accountant can help. A professional tax accountant for small business can enable you to get ready to file tax returns, will give you expert tax advices that reduces your tax risk, and do proper measures so the business avoid raising any tax issues. For a small fee, an expert small business tax accountant can help keep your business accounts up-to-date.

If you are a small business owner based in the UK and are, looking for a skilled and professional small business tax accountancy firm than ob体育首页下载安装 is the right place for you to contact. ob体育首页下载安装 is one of the leading accountancy firms based in London, UK, and is boasted with a pool of professional and certified accountants and tax experts.

Visit https://www.affinityassociates.com/ to know more.

Common Small Business Taxes in the UK

Common Small Business Taxes in the UK

Small businesses in the UK and the proprietors or partners who own them are subject to various taxes – ranging from Corporation Tax to Capital Gains Tax.

Below is an overview of some of the most common business taxes you may encounter as a small business owner in the UK.

Corporation Tax

Corporation Tax is a business tax levied on income or profits made by limited companies in the UK.

For Corporation Tax, companies first need to calculate their operating earnings. This is calculated by deducting expenses related to operating the business, like the cost of goods sold, depreciation, general operating costs, etc. from the actual revenues. Once the operating earnings are derived, the existing Corporation Tax rate is applied to ascertain the amount a company is liable to pay to the HM Revenue & Customs ( HMRC ).

The payment of Corporation Tax is usually due nine months and one day after the end of a company’s accounting period.

The current Corporation Tax rate is 19% .

PAYE

PAYE (Pay As You Earn) is a scheme regulated by HMRC to collect income tax from your employees as they earn it.

Self-proprietors are not affected by PAYE; they need to self-assess their income and file a tax return.

Limited companies, however, that have their own staff and draw salaries, are considered as employers, and they have to understand and operate PAYE as a part of their payroll system.

PAYE is a complicated subject with many rules. For that reason, it will be in the best interest to get professional advice. In fact, for a small business, considering outsourced payroll services, which also include PAYE tax advice , can prove very beneficial.

If operating PAYE, employers must pay to HMRC every month!

Value Added Tax (VAT)

Value Added Tax (VAT) is a consumption tax levied on most goods and services provided by businesses registered in the UK.

UK VAT rates differ based on different goods and services, yet, the current standard VAT rate is 20%, the reduced rate is 5%, and the zero rate is, as you have guessed, 0%.

Companies need to register for VAT if their turnover is more than the current VAT threshold specified by the HMRC. Currently, the VAT threshold is £85,000.

Every VAT-registered business in the UK needs to submit its VAT returns online, usually every three months. And, in order to pay the VAT bill, businesses need to rely on electronic mediums, such as internet banking or direct debit.

Capital Gains Tax

Capital Gains Tax (CGT) is a tax levied on the profit that a company makes by selling its own assets. These assets include plant and machinery, fixtures and fittings, land and building, shares, trademarks, etc.

The current CGT is 20% on profits made from selling assets.

There are ways to reduce the Capital Gains Tax liability, but for that, you need to start early tax planning and get the right tax advice from a professional.

Tax business can be very confusing for a business owner. Therefore, just get in touch with us and engage our experienced tax accountants for small business in the UK.

We are the leading small business accountancy firm with some of the best small business tax accountants in the UK. We will help you deal with all your personal and corporate taxes in the most professional manner. Ranging from Corporation Tax and VAT to PAYE and Capital Gains Tax, our tax accountants for small business in the UK will take care of everything on your behalf.

Contact us today to discover what our small business tax accountants in the UK can do for you: https://www.affinityassociates.com/contact-us/ .