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Business Start-up

  Accounting is one of the most important aspects of your business and without a firm grasp of your cash flow and price margins you could suffer financial losses and end up with nothing. Taxaccolega specialize in providing expert advice and account management for start up businesses to ensure you avoid financial perils and over paying tax. The demands of starting up your own business will change your life and it is easy to become consumed with all the important factors required to get it up and running together with the little tweaks to make it a success. Taking stock of your accounts is time you could put to better use elsewhere – even if it is sparing some time for yourself. THE BENEFITS OF HIRING AN ACCOUNTANT You may think that hiring an accountant to manage your accounts and arrange your tax affairs is expensive, but with the low-fixed price fee we offer together with the money we can save you in tax breaks and avoiding potential HMRC penalties, using the services of Taxaccol...

The Benefits of Hiring an Accountant

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  A company requires an accountant from the beginning of the planning process. I usually suggest that companies engage accountants as soon as possible since they will be able to better understand the firm and offer you with reports on feasibility and cash flow projections. They can also help you structure your business and be involved in the company formation process. A qualified accountant will manage your money and aid in the expansion of your company in addition to performing bookkeeping. Today's accountants play a crucial role as financial advisors, therefore you should pick an accountant very carefully. We've spoken about a few qualities you ought to seek for in an accountant. #1: Be aware of your needs: You should be extremely clear about what you need from your accountant before deciding whether to hire a straightforward bookkeeper or an ACCA or ACA. Having an ACCA or ACA on staff might be a smart option if you want to expand your company since they can provide you wit...

How to do Amazon accounting?

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 When you start your e-commerce business as an Amazon seller you should be confident enough with the way you will do it's accounting. Staying on top of your accounting record means that you are less likely to miss your accounting and tax deadlines and therefore less likely to incur any penalties. If you have an amazon seller account, amazon will prepare the summary of your income and expenses, you need to get used to all the terms so you can calculate the profits accurately and also understand how you are doing in your business. To make your annual accounts and calculate your profits you can do your amazon accounting on the excel sheets or you can choose an accounting software as well. If you chose to do the accounting yourself or you chose to hire an accountant in either case you should know exactly how your profits will be calculated. The key to accounting is understanding and recording the following: The money coming in The money going out Make sure you keep the evidence for all...

What you need to know about Business Asset Disposal Relief

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 Entrepreneurs relief which is now known as Business Asset Disposal Relief is one of the reliefs available to the business owners and the entrepreneurs when they sell the asset.  If you are eligible for this relief it will help you reduce the capital gains tax that you pay on the disposal of an asset.  You will only have to pay 10% on the profit that you make as a result of the disposal of a qualifying asset instead of a normal CGT which is paid at 10% or 20%. Am I eligible for the Business Asset Disposal Relief if I am a Contractor? In the following cases a contractor can qualify for Business Asset Disposal Relief: If he is working through their own limited company. In this case the contractor is the company's sole director and employee If you are working as a sole trader or a partner You will not qualify for business asset disposal relief if you work through an umbrella company.  As a sole trader you are eligible for the reduced rate of CGT(business asset disposal ...

The 10 best ways to choose a good accountant for a limited company

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 Most small business owners think that their accountant is their most valuable advisor. A good accountant will keep your books in order, help you plan your taxes, and make sure that you meet all of your tax deadlines. Here are some tips from the Taxaccolega team to help you find the best accountant. How to find the Good Accountant for a Small Business 1. Do your research as early as possible. Consider hiring an accountant before you start your business, or as soon as you can. They will be able to give you advice on start-up costs and how to register with the tax authorities. They can also set up a company for you, sign you up for Corporation Tax and VAT, and set up your payroll if you want to go this route. 2. Make sure your accountant is qualified. Make sure that all of the accountants you want to hire have the right credentials. Most firms are members of a well-known accounting group like the ICAEW (Chartered Accountants) and ACCA (Certified Accountants). 3. Use the assistance of...

Best Accounting firms in Croydon

 What to look for in an accountant when choosing an accountant for your company. Are they qualified? When choosing an account you should look for an accountant's qualifications and experience. If they are qualified they will be associated with a relevant professional body such as ACCA and ICAEW. At Taxaccolega we have qualified bookkeepers, certified accountants and chartered accountants. We make sure that the accountants in our firm have professional competence and strictly adhere to the ethical code of conduct. This includes objectivity, integrity, confidentiality, professional competence and due care, professional behavior. Since as your accountant we will be dealing with confidential and sensitive information we make sure that we keep it conference and not disclose it to anyone. Easy to talk to They should be friendly and you should feel comfortable talking to them .This is very important that you are comfortable with your accountant when you talk to them for the first time . ...

Why is Accountants are Important for your Business

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  Why do you need an Accountant ? You need an accountant not only because they will do your accounts but having an accountant who is dependable can actually make your life easy. If you are self employed If you run your own business as a self employed person you have certain legal responsibilities related to accounting and the taxes which you have to fulfill within the deadlines otherwise you will have to bear certain penalties. You can hire an accountant to do these duties for you so you can focus more on running and expanding your business rather than being stuck in the accounting things which can be outsourced. If you hire an accountant they can take care of the following duties : Registering you as a self employed Registering your business for VAT if you have to Submitting your tax return annually Submitting VAT returns quarterly (in case you are VAT registered) We at Taxaccolega have accountants who will give you accounting and taxation advice after understanding your business....