Business Companion Service
Being your Business Companion
Simple Accounting Ltd would like to become your Business Companion. We take responsibility for all your returns and deadlines for you. This is a much fuller service than you are likely to receive from other accountants.
Our aim is provide a Financial Director-level service for businesses too small to pay for one. We include Software, We include basics like – Year end Accounts, VAT returns and Payroll. We give Business Advice, Business Sale and Company Secretarial work at no extra charge. You use as much or as little of the service as you need. We will use the rest of the time you pay for to help you to plan or market your business, train you in your software, save tax or ease your administration. Whatever you need accountancy support for just ask us – we’re here to help!
Software
Our service is much more ‘hands on’. We keep all the records through one system – yours. We provide you with basic, single user software for free. You can make your choice from our recommended range. We offer Acclivity AccountEdge (for PCs) and Solar Accounts; For Mac users we offer Mamut AccountEdge . Online users have a choice of Clearbooks, Freeagent or Quick File
This means, although we pay, you own the software. You are registered for this software – you therefore remain free to change accountant if you are unhappy with our service. We do expect a minimum of a two year contract.
More expensive products such as Multi User AccountEdge are available to larger firms which would require this sort of heavyweight software. Again we pay basic upgrade, renewal, and file conversion fees. We will also work with other software such as Quickbooks (online or desktop) or Xero. But we ask you to pay for this software.
Business Advice
We know your software and system. We learn your business processes. We are therefore particularly well-placed to advise you. Business support is included within our comprehensive service and all-inclusive fee. We work at your premises – we are not just an online accountant.
Our experienced team can help you with all aspects of running your business. This includes tax planning and advice, payroll, human resources and financial planning. We can help with credit applications and shares, pensions and the borrowing and investment decisions that will allow your business to grow.
At Simple Accounting we don’t just look after the compliance issues related to the business itself. We also work to help you develop your business so that it will achieve your financial goals. We can help whether you are an individual with complex financial affairs or a business owner who wants advice about the best way of managing your business administration.
Sale of firm
Eventually you will need to sell your firm. One of our main roles is preparing your firm for this time. We protect your business in the event that you have to sell suddenly. We help you negotiate a good price. We plan the tax payable. We compose the records, which will be the basis of your buyer’s ‘Due Dilligence’ records. We take the strain away.
Selling your business
Personal tax
- You advise us of any subsidiary income.
- We will then submit online SA100 Directors Self Assessment Tax Personal Returns for your Directors-Shareholders.
- If we feel it is appropriate we will make recommendations on Tax Credits.
- If you involve us in a claim we will liaise with the HMRC on your behalf.
Company Secretarial
- We complete and submit your Statutory Company Accounts for Companies House.
- We will send you Company Secretarial documents like share certificates.
- If you wish we will submit Confirmation Statements, Director Appointments etc.
VAT Returns
VAT is a tax which often gets overlooked. We are unusual in that we plan to save money and cashflow with the VAT payments you have to make. VAT is not an optional extra for us. As part of our service we will help you compose your VAT returns. We usually prepare your VAT returns and at the same time check codings to minimise the net payment to the HMRC. We review your returns at least annually to help justify your return precisely.
VAT Planning
We will make sure you can:
- Recover the maximum amounts of VAT on your purchases (including the indirect costs)
- complete your own VAT return declarations for importing and exporting
- set up VAT annual accounting which significantly reduces the administration problems and prevent you getting surcharged for late submission. We can help you save VAT cashflow especially in fast-growing companies.
- set up partial exemption for VAT where appropriate
- plan VAT for educational and charitable organisations
- set up the cash accounting scheme which can save many thousands of pounds in cashflow
- decide if you want to join the VAT flat rate scheme by testing the rate.
Payroll
We support you from our payroll department. Monthly payslips are calculated from data you supply.
- Year end and monthly RTI returns P35/P60s, P11Ds and C15 returns are included within the fee.
- We show you how to make the monthly entries into your bookkeeping systems with simplicity.
- You make the actual payments to your employees, based on the returns you get from our payroll service. We can send the payslips by email for you .. or you can give them to your staff.
- We may negotiate a PAYE Settlement Agreement to allow you to pay benefits to staff without affecting their own tax affairs.
Year End Accounts
You use the book-keeping and accounting software we recommend such as Acclivity AccountEdge. You complete the datafile with our support and we see the copy through usually Dropbox. Alternatively we work with your Online software. .
- An Accountant will deal with your file and email any queries to you. We may amend your datafile to reflect any errors we have discovered.
- We then come on site to complete accruals, check reconciliations, compose the year-end file and see what tax planning opportunities can be exploited.
- We can help you to compose a year-end file of all your reconciliations.
- We then arrange for the preparation of your final accounts and tax compliance papers.
Best Value
Our charges are modest. We start at a mere £100 monthly for all-in service. Simple Accounting Ltd is able to work more cost effectively because you are doing much of the basic bookkeeping work on software that we supply or recommend. If you would rather, we can provide bookkeeping as a modest extra. We also embody all our fees in one fixed price service – the Business Companion. It allows all the services for one fixed price – we don’t charge extras for each little bit of support we may offer you. Our cheapest rate for these services can be as little as £67 per month including free software.
We offer a generous discount if your company prepares good quality books. One of our clients receives back over £700 pa for this! We would include licences for the company’s choice of financial software including the phone helpline and upgrades. We include a mass of extra work such as management accounts, tax planning and business advice for free.
Unlike many of the other services there are no extras for Company Formations or Annual Returns, or other odds and ends. Unlike most accountancy services we also regularly come to visit you! The array of services we offer is much broader and yet rather cheaper. We help you work efficiently so we can do our job more cost effectively. Simple Accounting – even the fee is simple!
Consultancy and Development
Many clients use us for consultancy or training but retain existing external accountants. We are happy to respect your existing arrangements if that suits you. We are therefore happy to work on a per day or per hour rate. However with this choice you are responsible for meeting the deadlines – not us!
See our Consultancy and Development page for more details.
Next Step and Charges:
Please contact us if you need further advice, have any questions about our services, or would like a free consultation or a fixed quote.