Accountants
& business advisors

We are your expert accountants and business advisors and we can work with you even if you are not local to our office.

We know that your business is not just numbers and that it is important to you and your family. We will provide you with all of the services that you need to drive your business forward. We work with you to take care of the whole business, not just the year end accounts, so that you can achieve your life goals.

I need accountancy help

 

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OUR PACKAGES

We get up every morning to help our clients achieve
their personal goals through their businesses

 

GETTING STARTED

Sole traders, lifestyle businesses or small start-ups

'Getting Started' includes:

  • 1 hour Kickstart meeting
  • Quickbooks Online subscription
  • And much more...

GROWING

Great for a small business

As 'Getting Started' plus:

  • Director payroll, RTI compliance
  • P11D (where required)
  • And much more...

SUCCESSFUL

Ambitious start-ups & established businesses

As 'Growing' plus:

  • Business Performance Review
  • Goal Setting Session
  • And much more...

WINNER

Growing or medium sized businesses with big ambitions

As 'Successful' plus:

  • Quarterly Meetings
  • Annual Budgets
  • And much more...

CONTRACTOR

An all inclusive package

As 'Winner' plus:

  • Quickbooks subscription
  • Annual Accounts
  • And much more...

CONTACT US

Get in touch for more information about our available packages

 

OUR WAY

We come to work every morning to help our
clients achieve their goals and dreams.

We are Cloud Accounting Experts.

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Learn more about us

Making Tax Digital

Making Tax Digital is a key part of the government’s plans to make it easier for individuals and businesses to get their tax right and keep on top of their affairs - meaning the end of the annual tax return for millions.

FIND OUT MORE TODAY

CLOUD ACCOUNTANCY

We offer full support and guidance to help you keep track and on top of your Bookkeeping with our Cloud solutions.

 

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LOOKING TO SWITCH ACCOUNTANTS?

We are Business growth specialists and offer all the services you need, all under one roof - with a friendly approach and great value for money.

 

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BUSINESS ADVISORY

Introducing Flourish from Melanie Curtis.

Flourish is our new business advisory service provided by Melanie Curtis Accountants. Full of inspiring content and assistance on how to improve your business.

We're Panalitix Accredited Business Advisors.

 

VIEW OUR CERTIFICATE YOUR COMPLIMENTARY BUSINESS REVIEW

 

OUR PROMISE

Not just our expert & flexible approach.

 

Our Fixed Fees

With easy monthly repayments so no surprise bills. We're upfront and honest about our costs.

Plain English

We make sure you understand what we're talking about and we want you to understand your numbers.

Flexible Support

Call us anytime for anything without charge or come in for a meeting, we're always happy to help!

Prompt Turnaround

We will turn around your accounts within 45 days, as long as we have everything we need from you.

It can be daunting to start your own business – especially when you’ve always had someone else take care of your taxes, NI and salary.

In the first of our blogs about starting a new business, Melanie answers some of the most frequent questions she gets asked about accountancy and bookkeeping when you’re a sole trader.

What is a sole trader?

A sole trader is someone who sets up and runs his or her own business as an individual. They can be called self-employed, sub-contractors or tradesman, and they usually don’t employ any staff – although you can do this if you’d like.

It’s the easiest and most popular way to run a business in the UK, with around three quarters of businesses registered as sole traders. A lot of people become sole traders when they’re just beginning to build their business, and some may even still have full time jobs. What are the benefits of going down this path?

You get a lot more freedom being a sole trader – it’s cheaper than running a limited company, and there’s a lot less paperwork.

You won’t need to pay corporation tax, and you have no legal requirement to have annual accounts or files ready for inspection – you just need a record of your business expenses and income for your tax returns.

All business decisions are down to you. And all the businesses profits are yours to spend – after tax of course!

Any downsides?

As a sole trader, there’s no distinction between you and your company, which can be challenging for some. You’ll be liable for any debts that stack up, and your assets, including property, could be put at risk. It can also be more difficult to get funding as a sole trader, so you may struggle to expand your business.

Depending on the sector that you work in, some agencies and contractors will only work with limited companies as they have slightly different legal protection. Do your research before deciding to register as a sole trader and make sure that you’re not going to lose out on work by going down this route.

What accounting or bookkeeping do I need to do, as a sole trader?

All sole traders have to pay tax on any profits their business makes after expenses – this is done via a Self Assessment tax return system. Expenses that you can deduct from your taxable income include paying for your work premises, travel and any bills that your business accrues.

You’ll also need to pay two lots of National Insurance, known as Class 2 and Class 4 contributions, to the Department of Work and Pensions. Class 2 payments are £2.70 a week (whatever your income or profit), while Class 4 payments are based on how much your business brings in – both can be paid by Direct Debit.

If your turnover, or taxable supplies go over £82,000 in a year, you’ll need to become VAT registered. This not only means more paperwork it also means that you’ll need to start charging your clients VAT – however, you will be able to claim any VAT back from any purchases you make.

Two key dates for your diary are 31January and 31 July – this is when you need to pay HMRC. January date is the final date for getting your paper tax return in after the end of the tax year. If you do advance payments on your bill (known as ‘payments on account’), July is when you make this payment. And if you’re VAT registered, this paperwork will need to be filed quarterly.

With all of these payments, you do get penalised if you’re late, so it’s definitely worth getting all your paperwork in before the deadline.

Any top tips for sole traders?

As well as getting your paperwork in on time (I cannot stress this enough!), it’s also worth putting some money away each month for your tax bills. A lot of people I speak to don’t do this and then have to find this money when a deadline rolls around. Keeping on top of everything will help save you money in the long run.

Here at Melanie Curtis Accountants, we can help you through all stages of running a business. Not only will we help you register and set yourself up as a sole trader, we’ll make sure your paperwork is all up-to-date, as well as make sure that you hit all deadlines.

We’re also here to give you jargon-free financial advice throughout the year, so any questions you may can be answered by one of the team. We want to help ensure your business, whatever it may be, is a success.

 

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