Tax

We help take away the tax pain by working with you to ensure you keep accurate records so that we can turn around your tax figures quickly and accurately.

We prefer to work with our clients for a minimum of a 3 year term so that we can accurately manage your future tax, and improve your profitability we hope. And our packages are designed and priced with this in mind.

However it is fine to use us for just a one off tax return!

Also do not be afraid to switch to us if you have an existing accountant, we detail this process here.

The Finance Factory

Is our simple end of year tax and accounts service, with free software to help make your life easier. It is a great place to start and suited for single person businesses or simple companies consisting of one director/employee. As your business grows you might want to upgrade.

Sole traders start at £40 a month
Companies start at £75 a month

The Finance Lab

If you require upgraded Cloud accounting solutions we support Quick Books and Xero, and can add these for an additional fee.  These do open up unique bolt-on apps that might benefit your business such as job trackers.  It also enables us to provide more detailed reports and business analysis for better real time reporting, setup of these will be free.

£30 a month additional fee.

The Finance PT

If you want to super charge your business and build up your business performance muscles then the Finance PT service can help.  If you require detailed cash flow management, advice on how to improve your business or looking to take on new staff etc. then this is your option.

£50 a month additional fee includes 2 hours support a month.

More details on our services are below and what is included or an additional bolt on.

Book keeping

Is the foundation of recording your business related income and expenditure and keeping the necessary evidence safe.  We provide free cloud software that can be accessed from your mobile to make this easy-peasy.

  • Mileage trackers (log your business trips!)
  • Capture and store receipts
  • Raise invoices to customers
  • Integrate with your bank (a fee applies)

You know your business best and how you like to work, so we give you the above tools to keep on top and it’s the cheapest method. 

We can handle your book keeping if you want to free up your time from £100 per quarter/£400 per year.

Self-assessment tax returns

Tax returns are due each year and if you are self employed we like to use the cash basis so you fully understand your business. Cash basis is only available to non Ltd business and if you are billing less than £150,000 a year.  VAT is a separate figure and might also need to be considered.  We can handle non-cash basis accounting.

If you accounting records are tip top then we can turn this around quickly. 

However all your income will need to be taken into account, including income from savings, property etc.  So asking us an exact quote is like asking us how long is a piece of string (we are working on it!) depending on your affairs.

Our Self-assessment rates start at typically average £300.

Company tax and accounts

We can setup companies and also complete the necessary tax returns, company accounts and other paper work.  Our Company return fees start from £750.  Book keeping, director self-assessment and other services listed above are add-ons. 

Tax payments

If you sign up for our 3 year deal we can forecast your tax payments and suggest ways of reducing your tax bill.  Currently tax needs to be paid twice a year  The longer you stay with us, the better savings we can make for you as well as manage your cash flow.

VAT

If you are forecast to bill £85,000 or more in a 12 month period you need to register for VAT.  We can register and submit VAT on your behalf and our software enables this to be filed quickly.  VAT is included in the Lab and PT option.

Payroll and CIS

Our software offers payroll administration for up to 2 employees plus yourself free of charge. We can offer advice and set you up if you wish to operate via PAYE or need to register for CIS.

Advice and support

We provide a generous number of hours support in your first year with us, we want you to succeed and take control of your business.  We want to build good relationships, but our Fin Fac package is focused on providing you compliance not business planning.  Detailed advice and support will be chargeable at £35 per hour.  It might be cheaper in the long run to upgrade to some of our other services if you need more regular help.

Software

We provide a core platform that is free of charge.  However there will be 3rd party charges involved at times for additional services, these include bank feeds, additional payroll costs.  We can also set you up with an MS email address for an additional fee.

Contact us.

Address

Colchester Business Centre George Williams Way Colchester CO1 1SJ

Contact

Telephone

07815 831 031