Fixed Fee Accountants

We have been providing a range of tailored accounting and taxation services to individuals as well as small and medium-sized businesses. Cheap Accountants in London is a part of a well-recognized accounting firm in the UK.

Cheap Accountants For Self Employed

 

What is Self-Employment

Self Employed is the simplest way to start a business; it doesn’t involve any registration fees. The only drawback is that you are personally liable for any debts that your business runs up, these make risky options for businesses that require a lot of investment. If you are self-employed you would need to complete a Self-Assessment tax return. Our cheap accountants for self-employed can complete and file your return online or fill in a paper form. You would probably need to pay any Income Tax you owe for a tax year in two installments i.e. January and July plus a final ‘balancing payment’.
Our cheap accountants for self-employed have designed Packages according to the turnover of your business and the work involved. Please select one of the options on the left-hand side to see the fixed fee structure.

 

What to do is a Self-employed

  • Register as a self-employed with HM Revenue & Customs within 3 months of your setting up
  • Pay Class 2 National Insurance contributions (£2.50/week)( may change in future) – HMRC will send you Class 2 National bills every quarter unless exempted due to small earnings.
  • Set up a separate business account If possible – Ask us if you need to open a business bank account.
  • File Self-Assessment Tax returns every year.
  • Pay tax on yourself employment profits according to the tax band you fall in.
  • Pay Class 4 National insurance contribution on profits.
  • Register your Business for VAT in turnover is above the VAT threshold.
  • If you have employees, you should set up a PAYE system to collect income tax and National Insurance contributions.

 

Records Keeping

  • Keep records of all Sale invoices
  • Keep records of all Purchase invoices/ Expenses – if you are our client, you can request us a list of possible allowable expenses. This will give you an idea of what you can and can’t claim for.
  • Keep records of all business bank statement
  • Keep records of business credit card statements if any
  • Keep records of VAT – if registered
  • Keep a record of all the employees & casual labor
  • Keep records of any other information which you believe is relevant.
  • Record-Keeping recommended By HM Revenue & Customs

For further queries or assistance, you can reach out to our cheap accountants in London.

 

Our Services

We are proud to offer wide range of affordable accounting and taxation services in London to the businesses nationwide. Our team of dedicated qualified and clever tax accountants will ensure that you get the best and affordable service at a friction of a cost. Please see the list of the services that we offer:

  • Bookkeeping Services
  • Annual Return
  • Limited Company Accounts
  • Contractors Accounting
  • Dormant Company Accounts
  • Registered Office Address Facility
  • Quarterly VAT Returns
  • VAT Registration
  • Personal Tax Returns
  • CIS Tax Return
  • Landlord Tax Return
  • Capital Gains Tax Calculations
  • Tax Refunds
  • Payroll & PAYE Registration
  • Monthly Payroll
  • Xero Training

Simply get in touch with us to find out more about our services. Please feel free to ask for a Free Quote or call us at 0208 090 3485.

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