Who’s going to do all the bookkeeping and accounting?
It’s probably a question that’s been plaguing you ever since you decided to form a limited company. After all, you don’t have the time or inclination to handle the bookkeeping. Accounting? You wouldn’t touch it with a barge pole. Access Tax and Accounting’s team of accounting and tax specialists will handle all the bookkeeping and accounting for you, including preparing your annual accounts.
The first thing we do is work with you so we can understand your business and its needs. This is an essential part of our process because it allows us to tailor our services to your specific needs, giving you the best of the best in terms of service quality and value.
Do you want to keep doing all that work on your own? Or are you ready to get rid of another headache and let ATA handle it all for you? We’re sure you are, so give us a call at +44 (0)207 193 9218 or email us at email@example.com now so you can meet with an ATA client services team member and get the ball rolling. The sooner you contact us, the faster your bookkeeping and accounting problems will become a thing of the past.
Access Tax and Accounting Will Relieve of the Burden of Bookkeeping and Accounting Issues
So You Can Have the Peace of Mind You Need to Focus on Your Business
FreeAgent Open Books
FreeAgent Open Books Invoicing Software Online Portal Unique Contractor Login
FreeAgent is an efficient and user-friendly online money management and accounting tool designed for consultants who want to work via their own limited companies. So, whether you’re a freelancer or a contractor, FreeAgent is the perfect option to keep track of all your financials.
Thus, with FreeAgent’s easy-to-use and intuitive dashboard, you can keep track of your invoices, expenses, bank accounts and much more. It will help you keep track of your cash flow and project profitability, and just go to your FreeAgent overview screen to find out who owes you money.
You won’t know the meaning of the word efficiency until you give FreeAgent a try. This system will make managing your daily business operations a piece of cake. FreeAgent has you covered on anything and everything you could possibly need, from time tracking and expenses to invoicing and estimates.
Access Tax and Accounting Helps You Capitalise on All the Tax Saving Opportunities Possible, Making Sure You Get to Keep More of Your Hard-Earned Money
Access Tax and Accounting Makes Your Tax Returns a Breeze. We Handle Your Self-Assessment and Deal with the Inland Revenue for a Stress-Free Tax Season.
Make Sure You Are Claiming Tax Relief on Every Allowable Expense
You can save a lot of money by claiming all the permissible expenses. Make sure you also claim any expenses you personally incurred that were “wholly, exclusively and necessarily” incurred so you could carry out your duties. Some examples of these expenses include professional subscriptions, accommodation costs and mileage you paid for out of your own pocket. By claiming these personal expenses, you will be able to extract profits from your company without paying taxes, which will save you a lot of money in the long run.
However, there is a slight problem here. Figuring out which expenses are allowed is not always simple and straightforward. Some might be quite clear, but some might be ambiguous. You could claim an ineligible expense and end up underpaying your taxes, which is never a good idea. On the flip side, you could overlook lots of expenses you didn’t know were allowable and end up overpaying on your taxes, which is even worse.
Access Tax and Accounting can help you by making sure you are claiming tax relief on all allowable expenses, so you don’t have to stress over overpaying or underpaying your taxes. We’ll make sure you’ll be paying as little as legally possible on your taxes, which will lead to a fortune in savings over the long term.
Know the Tax Position of Your Company and Keep It Up to Date
After setting your director’s fee at the right level, recognising your company’s expenses and claiming any personal expenses on behalf of the business, you will be able to calculate whether your company is profitable and how much profit it has made at any point.
You will then need to take into account corporation tax (and minimal PAYE) and VAT to determine how much profit your company has made after taxes. Net profit, as it is called, is the maximum amount a company can pay out as dividends, making it the highest income you can draw from the company besides the director’s fee. Paying out even one penny over this amount is illegal.
Now, calculating this figure can get complicated. You will spend more time on it than you should, when you could be generating more business and money. ATA can help you calculate the profitability of your company, ensuring full transparency and accuracy. You won’t have to worry over making a mistake and maybe committing an offence accidentally, and you’ll also save a lot of time.
Know How Much You Can Draw as Dividends from the Company
Drawing dividends from your company is not without its own slew of tax implications. The key here is knowing how much you can draw to be as tax efficient as possible because, remember, you don’t have to convert all the company’s profits into dividends. You can draw the amount you need to fund your lifestyle or choose the amount that will ensure you don’t break the higher rate tax threshold.
Access Tax and Accounting will work with you to come up with the best possible solution so you can withdraw the money you need while paying as little as possible in taxes.
Flat Rate VAT
- Is your turnover below £150,000 per year?
- Are your expenses low when calculated as a proportion of turnover?
- Do you work for VAT-registered clients and don’t make zero-rated or exempt supplies?
Then Flat Rate VAT can save you thousands of pounds per year.
While there are plenty of accountants who don’t even discuss this with their clients, at ATA our goal is to make you wealthier, which means we will do everything legally possible to save you money. And from our point of view, if the above conditions are met, implementing Flat Rate VAT is the best choice.