Simple Accounting offers a Business Companion Service
Let us take away the burden
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.
We include Software, Year end Accounts, VAT returns, Payroll, Business Advice, Business Sale and Company Secretarial work. 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.
Software
Our service is also 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 SolarAccounts, MYOB and Quickbooks (for PCs); Mamut AccountEdge or Solar Accounts(for Macs).This means, although we pay, you own the software. You are registered as the licence holder 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 Mamut AccountEdge, MYOB Acclivity for Canada, Quick Books are available to firms in Band B above as these are the firms which would require this sort of heavyweight 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.Our experienced consultants 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 selling your business. We arrange bank applications.
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 personal 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 help you adverstise your firm. We help you negotiate a good price. We plan the tax payable. We compose the file, which will eventually be the basis of the 'Due Dilligence' records. We get a cost-effective legal team behind you. We take the strain away.Selling your business
Personal tax
- You advise us of all 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.
Companies House Returns
- We complete and submit your Statutory Company Accounts for Companies House.
- We will send you reminders for your Companies House returns.
- If you wish we will compose Annual Returns, 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 show you how to prepare your own VAT returns to minimise the net payment to the HMRC. We review your returns at least annually and help you.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
- we will often set up the cash accounting scheme which can save many thousands of pounds in cashflow
- set up annual accounting which significantly reduces the administration
problems and can save VAT cashflow for fast-growing companies.
- set up partial exemption for VAT where appropriate
- plan VAT for educational and charitable organisations
- decide if you want to join the VAT flat rate scheme by testing the rate
- complete your EU Intrastat and EU sales list, if required.
Payroll
There are three choices here:Simple Accounting can install AccountEdge or Quickbooks Payroll for you. To do this we need full details of all staff. This job is best done at the end of the payroll year-end (beginning of April).
We can also help you run a simple payroll using the HMRC's own software.
- Year end returns
P35/P60s, P11Ds and C15 returns are included within the fee.
- We show you how to make the monthly summary entries into your accounts file. You make the actual payments to your employees, based on the returns you get from the payroll service. The outsourced payroll fee is included in your monthly payment.
Year End Accounts
- You use the book-keeping and
accounting software we recommend such as MYOB, SolarAccounts, Mamut
AccountEdge, or Intuit Quickbooks. You complete the datafile and transfer a
copy to us.
- 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.
Business Tax
- We email your business tax calculations to you.
- If those are acceptable we submit your CT600 Annual Corporation Tax and supporting calculations and notes in line with your datafile. We advise you what to pay and when.
- We hold copies of all documents for you, and you can download these whenever they are prepared.
Charges for 'Business Companion':
Our charges are modest. We start at a mere £550 pa for an all-in service.We are based in northern England- hence our reductions for clients close to us. However we operate nationwide. The usual fees we offer are as follows:
| Accounts Management Service (per month) | Yorks/Lancs | Elsewhere |
| Micro Business (up to 1 director or employee or up to £80,000 turnover) | £61 pm | £78 pm |
| Band A (up to 2 directors or
employees or up to £120,000 turnover) | £81 pm | £98 pm |
| Band B (up to 3 employees or directors or up to £150,000 turnover) | £113 pm | £130 pm |
| Band C (up to 5 employees or up to £200,000 turnover) | £150 pm | £167 pm |
| Band D (up to 10 employees or up to £500,000 turnover) | £189 pm | £206 pm |
| Band E (up to 20 employees or up to £1m turnover) | £243 pm | £259 pm |
|
Band F (up to 30
employees or up to £2m turnover) | £285 pm | £302 pm |
| Band G (up to 40 employees or up to £3m turnover) | £309 pm | £326 pm |
| Beyond this - please phone for prices. |
Notes on charges:
We can only work with clients who keep records of their transactions in one of the software packages we recommend. See our 'Software' page. http://www.simpleaccounting.co.uk/software/index.php
- We offer a reduction of 20% for excellent books. This means good reconciliation of Bank, VAT, Trade Debtors and creditors accounts, reconciliation of last year's balance sheet and elimination or reconciliation of VAT exceptions report.
- We offer a reduction of 10% for not for profit organisations that are either Community Interest Companies or small charities (<£500k turnover p.a.)
- These charges include final accounts, business and personal tax, company secretarial and VAT returns and payrolls (see details above). You use as much or as little of this array of services as you require. We do not charge for extras within this comprehensive list.
- Included with this service are several training visits per year depending on size.
- On sale of your firm we charge £2,000 plus 2.5% of the sale value. This includes the legal fees that you would otherwise have to pay yourself.
Best Value
Simple Accounting Ltd is able to work more cost effectively because you are doing much of the basic bookkeeping work. 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.Compare our rich array of services for a fixed monthly fee with those charged by this accountancy firm: http://www.hughespartnership.co.uk/why_us/Price_List.pdf
As an example consider a firm of £900,000 pa turnover company employing 18 staff and two salaried owner / directors.
With SAL: The company would pay twelve monthly installments of £243 with us. Each year this comes to £2916 + VAT with Simple Accounting Ltd. The service includes year end accounts, business tax, personal tax, payroll, company secretariat, P11ds and VAT planning.
With Hughes: The company would pay the following: £3795 Corporation Tax, £1880 for the VAT returns, £960 for the payroll and £290 for two owner/director tax returns. They would pay more if Hughes had to do more bookkeeping work at £17ph. They would not qualify for any discounts. The firm would also have to pay for its own software and upgrades and have to pay extra for any further chargeable work such as management accounts. This comes to a minimum of £6295 or £525 per month - over twice as much each year.
It gets even better - with SAL the company could get a discount from us of nearly £600 if the books the company prepared were excellent in standard. 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 - £194 monthly with the discount.
The array of services we offer is much broader and yet rather cheaper. We make 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:
Please contact us if you need further advice.
Call us now on 01422 847500
