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DNS-Accountants

Accountants for small businesses

Here at dns we support thousands of businesses and their owners across the UK in a huge range of sectors. Whether you’re a startup, small business or growing business, we offer all the support, advice, and services you need to make your business a success.

Our business packages include a range of services to suit your needs and budget. We’re award winning small business accountants that offer services online and in person. If you’ve currently got an accountant but want to switch to dns, we make the switching process easy.

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DNS-Accountants

Accountancy services for small businesses

Our specialist accountants for small business offer a full range of services for all your accountancy, tax and business support needs.

  • Bookkeeping
  • Tax planning
  • Monthly accounts and reports
  • Year-end accounts & corporation tax returns
  • Monthly payroll & payslips
  • Quarterly VAT returns
  • Accounting software & apps

Free Business Software!

Manage your business remotely with our free cloud-based
accounting software. Designed for UK-based business owners.

Get paid via cards
and direct debit

Get paid via cards
and direct debit

Create sales invoices
and direct debit

Create sales
invoices

Get paid via cards
and direct debit

Snap pictures of
receipts using the
mobile app

Get paid via cards
and direct debit

Connect your bank
for easy reconciliation

Get paid via cards
and direct debit

Track your debtors
and creditors

Get paid via cards
and direct debit

It’s yours for free!
Worth £240 per annum

Get paid via cards
and direct debit
DNS-Accountants

We take care of...

We support and advise thousands of people just like you across the UK and abroad
with our amazing team of experts.

13,000+
clients
27
offices
100+
experts
18+
years’ experience

Your path to easy accounting…

Hassle free accounting

All your accounting needs in one place. Online accounting & bookkeeping software and in person with our friendly team.

  • No penalty guarantee
  • 4 hour response
  • Dedicated account manager
  • Free cloud software

Saving tax & no penalties

Helping you navigate the complex rules around IR35

  • Tax planning advice
  • Corporation tax
  • R&D tax reliefs
  • VAT registration & returns
  • Capital gains tax
  • Inheritance tax

No surprises

Our services give you complete control and support for all your contracting needs.

  • Clear concise advice
  • Regular reporting
  • Certainty & confidence
  • Best client experience
  • Technology with real-time information
  • Hassle free accounting
  • IR35
  • Saving tax & no penalties
DNS-Accountants

Our packages

We've got a range of packages to suit all types
of people

  • Perfect for the small business with very few transactions
    Starter
    Tax and accountancy
    • Up to 240 yearly transactions support / Bookkeeping
    • 0 / Monthly payroll
    • P11D return
    • Company year-end accounts
    • Corporation tax return
    • Quarterly VAT return
    • Year-end tax review meeting
    • 0 / Standard self-assessment tax return
    Online accountancy software
    • Nomisma cloud based real time accounting software
    • Automated invoicing and financial control
    • Track your expenses & store receipts via mobile app
    • Generate dividend vouchers
    • Full training and support
    Dedicated account manager
    • Face-to-face meeting during business hours
    • Single point of contact
    • Reference letter for lenders & visas
    • Email & Telephone Support(fair usage policy)
    Company secretarial
    • Confirmation statement
    • Registered office
    Company setup
    • Company formation
    • VAT registration
    • PAYE registration
    Other benefits
    • Newsletter and tax tips
    • Monthly compliance report
    • IR35 review
    • 0 / Monthly CIS returns
    • Financial planning review
  • Suitable for small businesses requiring more support
    Lite
    Tax and accountancy
    • Up to 600 yearly transactions support / Bookkeeping
    • 1 / Monthly payroll
    • P11D return
    • Company year-end accounts
    • Corporation tax return
    • Quarterly VAT return
    • Year-end tax review meeting
    • 1 / Standard self-assessment tax return
    Online accountancy software
    • Nomisma cloud based real time accounting software
    • Automated invoicing and financial control
    • Track your expenses & store receipts via mobile app
    • Generate dividend vouchers
    • Full training and support
    Dedicated account manager
    • Face-to-face meeting during business hours
    • Single point of contact
    • Reference letter for lenders & visas
    • Telephone & email support(fair usage policy)
    Company secretarial
    • Confirmation statement
    • Registered office
    Company setup
    • Company formation
    • VAT registration
    • PAYE registration
    Other benefits
    • Newsletter and tax tips
    • Monthly compliance report
    • IR35 review
    • 1 / Monthly CIS returns
    • Financial planning review
  • Our most popular package, perfect for most businesses
    Standard
    Tax and accountancy
    • Up to 1200 yearly transactions support / Bookkeeping
    • 2 / Monthly payroll
    • P11D return
    • Company year-end accounts
    • Corporation tax return
    • Quarterly VAT return
    • Year-end tax review meeting
    • 1 / Standard self-assessment tax return
    Online accountancy software
    • Nomisma cloud based real time accounting software
    • Automated invoicing and financial control
    • Track your expenses & store receipts via mobile app
    • Generate dividend vouchers
    • Full training and support
    Dedicated account manager
    • Face-to-face meeting during business hours
    • Single point of contact
    • Reference letter for lenders & visas
    • Telephone & email support(fair usage policy)
    Company secretarial
    • Confirmation statement
    • Registered office
    Company setup
    • Company formation
    • VAT registration
    • PAYE registration
    Other benefits
    • Newsletter and tax tips
    • Monthly compliance report
    • IR35 review
    • 2 / Monthly CIS returns
    • Financial planning review
  • For those who want to get the maximum service from us
    Premium
    Tax and accountancy
    • Up to 1800 yearly transactions support / Bookkeeping
    • 5 / Monthly payroll
    • P11D return
    • Company year-end accounts
    • Corporation tax return
    • Quarterly VAT return
    • Year-end tax review meeting
    • 2 / Standard self-assessment tax return
    Online accountancy software
    • Nomisma cloud based real time accounting software
    • Automated invoicing and financial control
    • Track your expenses & store receipts via mobile app
    • Generate dividend vouchers
    • Full training and support
    Dedicated account manager
    • Face-to-face meeting during business hours
    • Single point of contact
    • Reference letter for lenders & visas
    • Telephone & email support(fair usage policy)
    Company secretarial
    • Confirmation statement
    • Registered office
    Company setup
    • Company formation
    • VAT registration
    • PAYE registration
    Other benefits
    • Newsletter and tax tips
    • Monthly compliance report
    • IR35 review
    • 3 / Monthly CIS returns
    • Financial planning review
  • Perfect for the small business with very few transactions
    Starter
    Tax and accountancy
    • Up to 240 yearly transactions support / Bookkeeping
    • Up to £20K Turnover
    • Sole trader accounts
    • Monthly payroll
    • P11D return
    • Quarterly VAT return
    • Year-end tax review meeting
    • 1 / Standard self-assessment tax return
    Online accountancy software
    • Nomisma cloud based real time accounting software
    • Automated invoicing and financial control
    • Track your expenses & store receipts via mobile app
    • Full training and support
    Dedicated account manager
    • Face-to-face meeting during business hours
    • Single point of contact
    • Reference letter for lenders & visas
    • Unlimited Support via telephone or email
    Set up
    • Sole trader registration
    • VAT registration
    • PAYE registration
    • Support with opening a bank account
    Other benefits
    • Monthly newsletter & tax tips
    • Financial planning review
  • Suitable for small businesses requiring more support
    Lite
    Tax and accountancy
    • Up to 600 yearly transactions support / Bookkeeping
    • Between £20k to £85k Turnover
    • Sole trader accounts
    • Monthly payroll
    • P11D return
    • Quarterly VAT return
    • Year-end tax review meeting
    • 1 / Standard self-assessment tax return
    Online accountancy software
    • Nomisma cloud based real time accounting software
    • Automated invoicing and financial control
    • Track your expenses & store receipts via mobile app
    • Full training and support
    Dedicated account manager
    • Face-to-face meeting during business hours
    • Single point of contact
    • Reference letter for lenders & visas
    • Unlimited Support via telephone or email
    Set up
    • Sole trader registration
    • VAT registration
    • PAYE registration
    • Support with opening a bank account
    Other benefits
    • Monthly newsletter & tax tips
    • Financial planning review
  • Our most popular package, perfect for most businesses
    Standard
    Tax and accountancy
    • Up to 1200 yearly transactions support / Bookkeeping
    • Between £85k to £120k Turnover
    • Sole trader accounts
    • 1 / Monthly payroll
    • P11D return
    • Quarterly VAT return
    • Year-end tax review meeting
    • 1 / Standard self-assessment tax return
    Online accountancy software
    • Nomisma cloud based real time accounting software
    • Automated invoicing and financial control
    • Track your expenses & store receipts via mobile app
    • Full training and support
    Dedicated account manager
    • Face-to-face meeting during business hours
    • Single point of contact
    • Reference letter for lenders & visas
    • Unlimited Support via telephone or email
    Set up
    • Sole trader registration
    • VAT registration
    • PAYE registration
    • Support with opening a bank account
    Other benefits
    • Monthly newsletter & tax tips
    • Financial planning review
  • For those who want to get the maximum service from us
    Premium
    Tax and accountancy
    • Up to 1800 yearly transactions support / Bookkeeping
    • Between £120k to £200k Turnover
    • Sole trader accounts
    • 2 / Monthly payroll
    • P11D return
    • Quarterly VAT return
    • Year-end tax review meeting
    • 1 / Standard self-assessment tax return
    Online accountancy software
    • Nomisma cloud based real time accounting software
    • Automated invoicing and financial control
    • Track your expenses & store receipts via mobile app
    • Full training and support
    Dedicated account manager
    • Face-to-face meeting during business hours
    • Single point of contact
    • Reference letter for lenders & visas
    • Unlimited Support via telephone or email
    Set up
    • Sole trader registration
    • VAT registration
    • PAYE registration
    • Support with opening a bank account
    Other benefits
    • Monthly newsletter & tax tips
    • Financial planning review
  • Perfect for the first time contractor on lower day rates
    Starter
    * Below £150K turnover
    Following enquiries are covered
    • Corporation tax self-assessment
    • Income tax self-assessment
    • PAYE and P11D
    • Capital gains tax
    • National insurance
    • Construction industry scheme
    • IR35
    • Inheritance tax
    • VAT
    • National Minimum Wage
    • Gift Aid Legislation and Regulations
    • Stamp Duty (Including Land Tax)
    * Exclusions
    • Fraud
    • Deliberate omissions
    • Criminal prosecutions
    • Tax, fines, penalties & interest due
    • Tax avoidance schemes
    • Enquiries commencing outside of the period of service
  • Our most popular package, perfect for most contactors
    Standard
    * Between £150K to £500K turnover
    Following enquiries are covered
    • Corporation tax self-assessment
    • Income tax self-assessment
    • PAYE and P11D
    • Capital gains tax
    • National insurance
    • Construction industry scheme
    • IR35
    • Inheritance tax
    • VAT
    • National Minimum Wage
    • Gift Aid Legislation and Regulations
    • Stamp Duty (Including Land Tax)
    * Exclusions
    • Fraud
    • Deliberate omissions
    • Criminal prosecutions
    • Tax, fines, penalties & interest due
    • Tax avoidance schemes
    • Enquiries commencing outside of the period of service
  • For those contractors who want to get the maximum service from us
    Premium
    * Above £500K turnover
    Following enquiries are covered
    • Corporation tax self-assessment
    • Income tax self-assessment
    • PAYE and P11D
    • Capital gains tax
    • National insurance
    • Construction industry scheme
    • IR35
    • Inheritance tax
    • VAT
    • National Minimum Wage
    • Gift Aid Legislation and Regulations
    • Stamp Duty (Including Land Tax)
    * Exclusions
    • Fraud
    • Deliberate omissions
    • Criminal prosecutions
    • Tax, fines, penalties & interest due
    • Tax avoidance schemes
    • Enquiries commencing outside of the period of service
  • Perfect for the first time contractor on lower day rates
    Standard
    Services covered under registered office address
    • Registered office / correspondence address as dns head office
    • Email forwarding only / scanning letter
    • Hardcopy post to be collected from office
    • Dedicated reception to post letters and scanning
    • Dedicated landline with reception to answer calls on behalf of your company
  • Our most popular package, perfect for most contactors
    Premium
    Services covered under registered office address
    • Registered office / correspondence address as dns head office
    • Email forwarding only / scanning letter
    • Hardcopy post to be collected from office
    • Dedicated reception to post letters and scanning
    • Dedicated landline with reception to answer calls on behalf of your company
  • For those contractors who want to get the maximum service from us
    Premium Plus
    Services covered under registered office address
    • Registered office / correspondence address as dns head office
    • Email forwarding only / scanning letter
    • Hardcopy post to be collected from office
    • Dedicated reception to post letters and scanning
    • Dedicated landline with reception to answer calls on behalf of your company
  • Our most popular package, perfect for most businesses
    Standard
    Self assessment services
    • Tax return submission
    • Dividend / PAYE wages
    • One Bank Account Interest
    • Pension contributions
    • One rental property
    • SATR mobile app / cloud based software
    • DD sign ups only
    • Designated accounts manager
    • Free tax review (15 mins)
  • For those who want to get the maximum service from us
    Premium
    Self assessment services
    • Tax return submission
    • Dividend / PAYE wages
    • One Bank Account Interest
    • Pension contributions
    • One rental property
    • SATR mobile app / cloud based software
    • DD Sign Ups ONLY
    • Designated accounts manager
    • Free tax review (15 mins)
  • Our most popular package, perfect for limited company landlords
    Standard
    Tax and Accountancy
    • Up to 240 yearly transactions support / Bookkeeping
    • Up to 2 properties
    • Company year-end accounts
    • Corporation tax return
    • Year-end tax review meeting
    • Annual tax on enveloped dwellings (ATED) returns
    • 15 Minute consultation on any property tax related issue
    • 1 / Standard self-assessment tax return
    Online Accountancy Software
    • Nomisma cloud based real time accounting software
    • Automated invoicing and financial control
    • Track your expenses & store receipts via mobile app
    • Generate dividend vouchers
    • Full training and support
    Dedicated Account Manager
    • Face-to-face meeting during business hours
    • Single point of contact
    • Reference letter for lenders & visas
    • Unlimited support via telephone or email
    Company Secretarial
    • Confirmation statement
    • Registered office
    Company Setup
    • Company formation
    • VAT registration
    • PAYE registration
    • Support with opening a bank account
    Other Benefits
    • Monthly newsletter and tax tips
    • Monthly compliance report
    • Financial planning review
  • For those who want to get the maximum service from us
    Premium
    Tax and Accountancy
    • Up to 600 yearly transactions support / Bookkeeping
    • Up to 3 properties
    • Company year-end accounts
    • Corporation tax return
    • Year-end tax review meeting
    • Annual tax on enveloped dwellings (ATED) returns
    • 15 Minute consultation on any property tax related issue
    • 2 / Standard self-assessment tax return
    Online Accountancy Software
    • Nomisma cloud based real time accounting software
    • Automated invoicing and financial control
    • Track your expenses & store receipts via mobile app
    • Generate dividend vouchers
    • Full training and support
    Dedicated Account Manager
    • Face-to-face meeting during business hours
    • Single point of contact
    • Reference letter for lenders & visas
    • Unlimited support via telephone or email
    Company Secretarial
    • Confirmation statement
    • Registered office
    Company Setup
    • Company formation
    • VAT registration
    • PAYE registration
    • Support with opening a bank account
    Other Benefits
    • Monthly newsletter and tax tips
    • Monthly compliance report
    • Financial planning review
  • Our most popular package, perfect for most businesses
    Standard
    • Company formation with Company House
    • Share Certificate
    • Articles of Association
    • Memorandum of Association
    • Certificate of Incorporation
    • Business Bank Account
    • VAT Registration
    • PAYE Registration
  • Perfect for the first time contractor on lower day rates
    Starter
    Tax and accountancy
    • Self assessment Tax return filing with HMRC*
    • Capital Gains tax computation
    • Income from mining, staking, airdrops
    • Tax Breakdown and computation
    • Single point of contact
    • Newsletter and tax tips
    • Apply for UTR number
    • Initial Advisory Meeting with Tax advisor (30 minutes)
    • up to 10,000 transactions / Bookkeeping and Software
    • Computation of Trading profits
    • Reconcile / Verify the Transactions
    • Review data from other Exchanges and Platform
  • Our most popular package, perfect for most contactors
    Standard
    Tax and accountancy
    • Self assessment Tax return filing with HMRC*
    • Capital Gains tax computation
    • Income from mining, staking, airdrops
    • Tax Breakdown and computation
    • Single point of contact
    • Newsletter and tax tips
    • Apply for UTR number
    • Initial Advisory Meeting with Tax advisor (30 minutes)
    • up to 10,000 transactions / Bookkeeping and Software
    • Computation of Trading profits
    • Reconcile / Verify the Transactions
    • Review data from other Exchanges and Platform
  • For those contractors who want to get the maximum service from us
    Premium
    Tax and accountancy
    • Self assessment Tax return filing with HMRC*
    • Capital Gains tax computation
    • Income from mining, staking, airdrops
    • Tax Breakdown and computation
    • Single point of contact
    • Newsletter and tax tips
    • Apply for UTR number
    • Initial Advisory Meeting with Tax advisor (30 minutes)
    • up to 20,000 transactions / Bookkeeping and Software
    • Computation of Trading profits
    • Reconcile / Verify the Transactions
    • Review data from other Exchanges and Platform
DNS-Accountants

Why choose our small business accounting services?

Award winning accountancy firm

Our Status offers a virtual certification to our Savvy Professional Advice.

Free online accounting software

UK’s Best Cloud Based Accounting Software made accessible to all of our clients to let them check their accounts conveniently.

Regular management accounts

Giving your access and Control over your Business at all times.

Guarantee of satisfaction & no penalty

If you ever feel unsatisfied and fell we are at fault, we allow you the convenience of not paying that month’s fees.

Dedicated account manager

One point of contact in the Company from the start-off making it convenient for you.

Guarantee to save your tax

Savings of up to thousands of pounds of taxes and Guidance on Benefits, Expenses and Pensions

Fast response

97% of Client queries are responded to the same day and 90% of the queries are resolved the same day.

Regular newsletter

Our Newsletter guides you with what you need to do now and updates you about the Current trends in Business Growth.

Bookkeeping

Bookkeeping is about recording your income and expenses accurately and about making sure that your accounts are prepared and submitted to HRMC on time.

What are business accounting services?

dns accountants provides specialist accounting services for small businesses across a wide range of business sectors. Depending on your requirements we offer as many inputs as you need.

Rest assured that whichever package you choose, dns accountants guarantees you 100% satisfaction with whichever service you take from us.

Choose the right small business accountants for yourself

Choosing the right small business accountant is important as they act as a trusted partner who offers advice and guidance for your small business to grow. So it's important to choose the right accountant for your small business.

It's in your company’s best interests to have an experienced, capable person handling one of the most important areas of your business – your finances. The right person will save you time and money year after year.

Accountants for small businesses

dns accountants is a team of committed account managers who help small businesses achieve growth and keep on top of their finances. We provide ongoing advice and support to small businesses across a wide range of sectors in London and the surrounding areas.

As a specialist accounting practice, we are able to adapt to the needs of our clients and offer personalised service. Speak today with dedicated accountant to know more about completion of your accounts and tax returns.

London

Get started with our small business package and join us today.

DNS-Accountants

What accounting services do small businesses need?

London

When your small business starts growing, you will be required to have accounting services for financial reporting and accounts management. Apart from these, the other accounting services your business could require:

Bookkeeping

  • Calculation & advice on VAT returns and payments
  • Ongoing bookkeeping services by trained accounting staff
  • Access to our online bookkeeping and management information portal

Monthly payroll

  • Production of monthly pay slips for each employee
  • Issuing and filing of year-end PAYE returns
  • Operation of monthly payroll
  • Calculation & advice on RTI PAYE returns and payments
  • Production of annual P60s for each employee

P11D return

The P11D is a tax form that records employment benefits that the employees and directors of a company have received. This information enables HMRC to figure out if you're required to pay tax on these benefits.

London

Company year-end accounts

You have to submit your year-end accounts to HMRC with your corporation tax return. These requirements have to be submitted online for your tax return – at the end of your company’s financial year. They are used as the basis of your tax calculations.

Our services include:

  • Initial data gathering
  • Partnership accounts
  • Abbreviated accounts and corporation tax return
  • Rental accounts
  • Sole trader accounts
  • Dormant accounts

Accounting and taxation

Quarterly VAT return

dns accountants specialise in providing advice on registering for VAT, VAT savings and avoiding potential risks, giving you complete peace of mind. We do more than just compliance and offer a specialist consultancy service.

Our VAT return services include:

  • Advice on VAT savings
  • Preparing VAT returns and reconciliation
  • Choosing the appropriate VAT scheme
  • Submission of VAT returns – Making tax digital (MTD) compliant
  • Avoiding VAT pitfalls – VAT errors are common, and can be costly if interests and penalties are applied
  • VAT registration includes the option to tax
  • VAT investigation support

Standard self-assessment tax return

Being a business owner means that you are responsible for informing HMRC of your annual income every year. While standard employees get their national insurance and tax calculated for them, self-employed workers must complete a self-assessment every tax year so that HMRC can be informed and collect this owed money.

Tax investigation cover

dns accountants - UK's leading provider of tax investigation insurance services. We provide comprehensive coverage, with policies tailored to suit your needs.

DNS-Accountants

Sign up in 3 easy steps

Signing up or making the switch to dns accountants is simple. We make it
as quick and easy as possible.

DNS-Accountants

Frequently asked questions for small business accountants

Managing your company's finances is a difficult process if you aren't familiar with recording transactions. dns accountants can help you by providing the financial expertise and guidance to run your business effectively.

  • Look for an accountant who has the proper credentials and a good understanding of tax laws and accounting software.
  • An accountant can help you set up an accounting system, maintain financial documents, audit your books and create financial goals for your business.
  • They should review your business finances regularly.
  • We offer a cost-effective approach that’s specially designed for small business owners
  • We have years of experience and experts who provide the most comprehensive services
  • We take care of VAT registration, tax returns and HMRC-related formalities
  • Take control of your business and finances with our online accounting software.
  • Timely tax planning so that you never miss out on an opportunity

Below are the reasons why should you choose dns accountants:

  • We offer a cost-effective approach that’s specially designed for small business owners
  • We have years of experience and experts who provide the most comprehensive services
  • We take care of VAT registration, tax returns and HMRC-related formalities
  • A dedicated account manager for your support
  • Take control of your business and finances with our online accounting software.
  • Timely tax planning so that you never miss out on an opportunity

Hiring an accountant help closely with clients to maximise their profits and business growth, by offering the following benefits:

  • Free advice on how to maximise profits and enhance business growth
  • Provision of specialist financial accounting software (FINAC)
  • Regular engagement, advice and support from your full-time dedicated Account Manager
  • Weekly, monthly and quarterly reports on profit & loss
  • A highly experienced team of professionals, hand to help with any financial queries
  • You are not liable to pay any penalties in the unlikely event of dns making a mistake on your behalf

Our main aim at dns accountants is to provide a proactive service to our clients, whilst ensuring that they are making the most of any potential accountancy savings and tax relief. We take great pride in the work we carry out for our clients, as we always strive to build a strong relationship and provide the most pro-active service. Find out what our clients are saying about us here.

We offer a free consultation to any business or individual who feels that they may be missing out on potential savings, or paying too much for their accountancy, outsourcing or tax advisory services.

In order to manage your operations efficiently and to save on taxes, you as a small business owner can try and inculcate the following practices in your business operations to gain maximum tax benefit:

  • Know your industry:

    To ensure that you don’t end up overpaying on taxes, it is very important to know and understand the industry you are dealing with and in order to do so, you must improvise a well-thought method to have continuous engagement with your trade body or association. You must also try to attend all the events and programs organised by the association. The best way to keep you updated about all the recent happenings of your trade body is to subscribe to its newsletter. Allowances like uniform allowance and several other dispensations are approved by HMRC which you can use depending on the industry you are in. And last but not least, your trade body is on your side so you must make the most out of it to understand your industry better.

  • Use your allowances:

    This is the second step after you have attained a thorough knowledge of your industry because if only you have understood your industry well enough, you can utilise the applicable allowances. The size, type and structure of your business will decide which parts of tax legislation you need to consider. A lot of small business owners are clueless about allowances like annual investment allowances, personal allowances, dividend allowances, marriage allowances etc. and thus miss out on taking their benefits.

  • Spend more time on your business:

    A small business owner has a lot on his plate and thus he needs to be very prudent regarding his time allocation. Spending more than the required time on tasks such as bookkeeping and accounting will not only take the fair share of your productive time but also make you a jack of all trades and master of none, which for sure is not a desired characteristic for success. Your business will benefit from you if you are spending time working on it while hiring competent professionals for tasks such as bookkeeping and accounting. . Also, you must try not to get into the feeling of “ I know it all” because chances are high that in situations where you may think that you are saving money, you are actually losing out by not claiming allowances and deductions you are eligible and entitled to.

  • Make sure you are dealing with VAT correctly:

    For most small business owners, dealing with VAT in the right manner has been a sore area for years because while the majority of them have no idea if they are paying the right amount or not, a lot of small business owners don’t even know if a scheme called as Flat Rate Scheme even exists on the planet earth, which could otherwise be an unexpected source of profit. As the name suggests, under the Flat Rate Scheme, you have to pay a single, flat rate of VAT on your annual turnover and HMRC has its own list of flat VAT rates for different industries. Thus, you can choose the flat rate as per your industry and pay accordingly. Also, where HMRC refrain from claiming any VAT on the purchases made, you can keep the difference between the VAT you charge to your customers, which is usually 20%. Thus, having a regular VAT health check could prove quite beneficial for your business.

  • Choosing your work location:

    HMRC has allowed generous tax savings for those who are self-employed and work from home and if you are a small business owner, you are self-employed in the eyes of HMRC, so you must be aware of tax-saving schemes. Being self-employed, you can claim either all or a certain percentage of the following expenses:

    • Mortgage interest
    • Health insurance premiums
    • Heat and light
    • Water
    • Landline and phone costs
    • Council tax
    • General household repairs and maintenance
    • Meals
    • Publications and subscriptions
  • Meet your deadlines:

    In order to avail tax benefits, you as a small business owner must ensure that you are paying your subscriptions with the HMRC and Companies House well within the deadline. Meeting all deadlines becomes a lot trickier when things are not going as smoothly as you would like them to be, but even then you have to make sure that you deal with the situation as soon as possible because doing so will give you and your advisor, if any, buffer time to liaise and reduce the penalties for late payment interest.

  • Meet your accountant:

    You have hired and paid your accountant to keep the company’s or business’s account in order but it doesn’t mean that your task is over. At the end of the day, it is your business so it is your duty to have a periodical meeting with your accountant to see if things are as they should be and address areas of concern, if any. Doing so will also keep your accountant under check and prevent him from going haywire and if you don’t talk to your accountant or if he is very busy giving you the time, change the accountant.

  • Transfer assets:

    In order to save on tax, HMRC allows you to transfer some of your assets, savings and investments to your spouse or civil partner or to someone from your family who works in your business. However, you must be careful here so that you end up creating problems for those involved with regard to control or capital gains tax.

  • Make plans in advance:

    HMRC encourages everyone to save on their taxes by doing advanced planning and as a small business owner; you need to assess your profits in advance in order to claim any deductions well within time before it is too late to do so. For example, if you have calculated your profits, you can see if buying any qualifying plant or machinery or adding to pension contributions has any positive effect on reducing your taxable profits.

  • Plan your exit:

    As a small business owner, you must have a well-planned exit strategy in place because having so will not only increase your chances of realising the best value from your business but will also allow you to have a tax-efficient exit and thus reduce the burden of income, capital and inheritance tax, if applicable.

The decision to change an accountant is a critical one and should be taken with utmost care. If you believe that you are not getting value for money from your accountant, it’s the right time to choose a new accountant. dns provides you with experienced, trusted and dedicated professional accountants who not only manage your accounts in compliance with tax legislation but also help you in finding tax-saving opportunities. Our accountants will cater to every need of yours and provide you with a cloud accounting solution. dns accountants help small businesses achieve the goals they desire.

At the meeting, discuss your requirements and any business issues or concerns you may have. Don’t hold back.

Once you have decided to switch, your new accountants need your permission in writing to obtain a copy of your accounting and tax records. This is done by signing a simple authorisation letter, which they should be able to provide. They will then do what is necessary to obtain your records.

Your new accountants will write to your current accountant notifying them of your intention to change. They will also provide you with a letter of engagement setting out your requirements and their duties as your new accountant. Make sure that all fees are clearly spelt out in your agreement, too, to protect you from unpleasant surprises.

For any questions, clarifications or further information don’t hesitate to get in touch. Contact us or schedule an appointment at your convenience.

The number of factors depends on the cost of an accountant for a small business. These factors include:

  • Business size
  • Are your business records organised?
  • Annual turnover or income

The cost of an accountant can be a fixed annual cost according to certain tasks like preparing and submitting your tax returns to HMRC. Usually, as a business owner how much should a small business pay for accounting services depends on the task requirement. You can also consult before hiring if “Is there a minimum contract period?”.

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