Skip to the content
  • Registration
  • Onboarding
  • Preparation
  • Calculations
  • Initial Meeting
  • Basic Info & ID Captured
  • ID Checks
  • Risk Assessment
  • Add Client to HMRC Agent System or Register For Self Assessment
  • Authorisation Code issued
  • Terms of Engagement Signed
  • Client Account Setup
  • Data Gathering for Self Assessment
  • Processing Information
  • Queries Discussed
  • Final Confirmation On All Data Supplied
  • Accountant Final Checks
  • Accountant Complete Calculations

How is your tax bill calculated

Turnover (Sales)

Less expenses

Less capital allowance

Less any relief

Equals taxable profit

Expenses

Material, Stock, PPE, Clothing

Office, Phone, Premises Costs

Travel & Subsistence Costs

Training & Subscription Costs

Employee or Subcontractors

Finance & Bank Charges

Accountancy, Legal & Insurance

Advertising

What do I pay the taxman

Payment On Account

If you owe more than £1000 in combined tax and NIC in the year, HMRC will ask you to make a payment on account towards the following years tax. They will base the is on current earnings, and request 50% in January and 50% in July.

Tax

Each person has a personal allowance each year, currently £12,500, this is the amount you are allowed to earn before you pay any tax, before paying tax at varying rates between 19-45%

National Insurance

There are two different types of National Insurance payable when you are self employed;

  • Class 2 – currently £156.00 per year
  • Class 4 – 9% on profits higher than £8632 and a further 2% on profits over £50,000

High Earners Child Benefit Charge

When you earn over £50,000 (profit) please make us aware if you have been claiming child benefit for any of the children in your household. 100% of the child benefit is repayable if any parent earns more than £50,000.

Our Fees

Transaction Based Billing

Our basic self assessment fee is £175 plus VAT covers a wide range of actions.

Find out more

Getting Your House In Order

We will sort out your paperwork if this is something you are unable to do.

Find out more

Transaction Based Billing

In order for us to provide the best service at the best possible price quoted we depend on clear channels of communications.

Find out more

GDPR AND DATA PROTECTION 

We will always keep your information safe, both hard copies and electronic copies of all documents will be stored securely. By signing up as a client you agree to us contacting you regarding the service we provide. All information will remain confidential. 

IDENTITY CHECK AND RISK ASSESSMENT FOR AML 

We request photo ID to allow us to run an identity check, which complies with HMRC’s anti-money laundering regulations. This is not a credit check. We then need to run a risk assessment to comply with our regulatory bodies and AML 

HONEST AND CORRECT RECORDS 

We expect that all earnings will be disclosed and the information you provide to us will be honest and complete. We are putting ourselves at risk as your accountants if you do not commit to this. 

HMRC INVESTIGATIONS 

We would expect to represent you in any dealings with HMRC including investigations should they arise. We can only do this if we are confident in the information you have provided to us, and you have been honest throughout our relationship. 

Get started with us today