Hire Expert Tax Accountants in London to End VAT Troubles for Your Small Business

Hire Expert Tax Accountants in London to End VAT Troubles for Your Small Business

Preparing, accounting, and filing VAT returns is an extremely daunting task, especially for busy business owners who have other important things to take care of, like overseeing day-to-day operations and managing customers among others. However, by engaging tax accountants for small business in London, UK, like the ones at Affinity Associates, business owners will never have to worry about their VAT matters ever!

Tax accountants for small business in London at Affinity Associates are thoroughly experienced to help you prepare accurate VAT returns, account them precisely in your books, and file them on your behalf to HMRC in a timely manner. In case any queries arise, these expert small business tax accountants will also deal with HMRC on your behalf.

What is VAT?

The value-added tax, or simply VAT, is a form of tax levied on certain goods and services sold by a VAT-registered business in the UK.

Businesses need to register for VAT only if their VAT taxable turnover is in excess of £85,000. The threshold of £85,000 is for the tax year 2018/19, but it may increase by £1000 or so every year.

Even if the turnover is less than the current threshold, small businesses can still voluntarily register for VAT in order to avail certain benefits. Boosting business profile and availing VAT refunds are among several benefits that a small business can achieve by voluntarily registering for VAT.

Once registered for VAT, it becomes compulsory for businesses to prepare and submit VAT returns online, often every three months! In order to pay the VAT bills, businesses must use electronic mediums, such as direct debit, Bacs, debit or corporate credit card. Failing to pay the VAT returns within the due date usually results in surcharges and penalties to the business owner.

There are three different VAT rates in the UK: Standard, Reduced, and Zero. The standard VAT rate is 20%, and it is imposed on most goods and services. The reduced VAT rate is 5%, and it is imposed on certain goods and services, such as children’s car seats, booster seats, and home energy. Finally, there is zero VAT rate, which is imposed on several VAT-taxable goods and services, like children’s clothes and most food products, but it is charged at 0% to the customers.

Expert Assistance for VAT Returns

Looking at above, you can easily see how confusing the VAT matter is. Which VAT rates you should apply to which products and services? How to prepare accurate VAT returns? How to submit VAT returns online to HMRC? How to make VAT payment? How to deal with HMRC in case of queries? How to avail VAT refund? These are just some of the questions that may bother even the savviest business owners. Even if business owners are able to handle VAT preparation and filing, it will prove too bothersome and time-consuming.

In order to free themselves from the troubles of VAT matters, it is sensible for business owners to seek the assistance of professionals. In this case, they are tax accountants.

VAT matters are usual chores for small business tax accountants. They know the ins and outs of VAT and will help you with every VAT matter, ranging from VAT preparation, VAT submission, VAT payment and everything in between. Engaging tax accountants for small business, like at Affinity Associates, will certainly benefit every business owner.

Affinity Associates is a top small business accountancy firm in London, UK. With some of the most competent accountants and tax accountants for small business, Affinity Associates provides a range of accountancy services to small business, including bookkeeping services, payroll services, VAT services, personal and corporate taxation services, and financial advisory services among other.

Browse through our site to learn more about our services http://www.affinityassociates.com/. If you have any questions about our small business accountancy services, feel free to contact us http://www.affinityassociates.com/contact-us/. We’ll be glad to assist you.

How to Find Tax Accountants for Small Businesses and How Much to Pay for it?

How to Find Tax Accountants for Small Businesses and How Much to Pay for it?

Do you find the DIY taxing too complex for your small business? Do you too find it irrelevant to hire a full-time accountant in-house? If you make a search in the Google with “Tax Accounts for Small Businesses in the UK” you’ll be flooded with numerous sites in the search results. All claiming to offer, either the best or the cheapest, or perhaps both types of services. So how will you be able to find tax accountants for your business in London or perhaps anywhere else in the UK.

The answers to these questions is not easy, and involves a significant amount of research and risk. Once you go online, just a quick search could help you to find firms who will charge as little as £ 50 to be as high as over £ 250. This makes it difficult for small businesses to find a relevant one, especially when all claims to be the best. One has to count on various aspects such as experience, expertise, team strength, professionalism, references, as well as the costing. Of course, we all are well versed with the fact that opting for the cheapest services is always not the best option, and neither the most expensive one always end up providing the best experience.

On the other hand, we all have to agree on this fact that managing the tax of your business is not an easy task. One has to consider various things such as profit & loss, cash flow, expenses, as well as the often changing & updating tax laws. This is a tough job, especially considering two major factors, i.e., (1) It is not necessary that everyone possesses the knowledge / know-how of tax & accounts, and (2) one has to focus on managing the overall business operations rather than shifting and investing time behind managing the accounts & tax. This is why big companies employees full-time accountants who could manage these aspects for them. However, the things become difficult for small businesses, and they tend up ending outsourcing it to accountancy firms. So this brings back to the previous question, How will you find a tax accountant for your firm in the UK? What are the parameters that you will take into consideration?

The best and the optimum way to start with is by going through their website. By simply browsing their website you can get the idea of the accounting firms experience, expertise, whether they have the certified and professional accounts in place, and best of all the client’s testimonials and the firms that they have worked with. Also, most of these sites do list out their pricing as well. Further to add, the tax accountancy services is offered on package basis, so you could check out the package that you feel the best suitable for your business. All of these packages have different pricing with different coverings. Last but not the least that you would like to checkout is by talking to one of their representatives, and understand their offerings.

Affinity Associates is a leading and professional accounting firm in London, UK, that could come to rescue. They have everything right in place, which includes but not limited to years of industry experience, expertise working with some of the leading businesses in the UK, partnership with leaders in accountancy businesses such as Xero & ACCA, a pool professional and certified accountants, and one of the most competitive costing.

They have packages starting from as low as £ 91 per month, which includes services such as dedicated accountant, Xero Subscription, Secure Automated Bank Feeds, and much more, all ensuring to provide high-quality services with no compromise. To know more on how their tax accountants could help your business, feel free to email them at info@affinityassociates.com OR call them on +44 020 8903 2077.

Accountants for Small Business in London – Helping At Every Stage of Your Company’s Growth [Part II]

Accountants for Small Business in London – Helping At Every Stage of Your Company’s Growth [Part II]

In our previous blog post, (Accountants for Small Business in London – Helping At Every Stage of Your Company’s Growth [Part 1]), we explained a couple of instances where you might want to consider engaging accountants for small business in London.

In this iteration, we present to you another couple of moments, during the life of your small business, where you might want to consider accountants for small business to help you.

As mentioned in our previous blog post, you do not necessarily need to hire an in-house, full-time accountant or a team of accountants. Most of the times, engaging accountants from a reputable small business accountancy firm in London on a part-time basis will be enough.

All right, without any further ado, let us look at the couple of instances where accountants for small business can make your life easy.

Streamlining Your Finances

Accounting can quickly become a mess when small business owners do it by themselves. If you feel that you are losing control of your finances, i.e., you don’t know where the money is coming and going, then accountants for small business can help you get back on track.

In addition, expert accountants for small business in London can also help you generate vital financial ratios, such as gross margin ratios, profit margin ratios, debt ratios, and cash ratios among others, which can help you evaluate the overall financial condition of your business. Not to forget, accountants for small business can help create important financial statements, such as a cash flow statement and income statement. By comparing the important financial statements year over year, you will be able to get the precise idea about your finances and take the necessary steps to streamline the finances.

Tackling the Audits

The chances of your business being audited are very less considering the fact that there are numerous small businesses across the UK and very few auditors. Nevertheless, a government audit can happen, and when it does, it can be very stressful and time-consuming.

When a government audit strikes, it will be very helpful for you to have an experienced accountant by your side. Accountants for small business can give you the guidance on how you should work during the auditing process. They will also help you avoid any tax violation.

Instead of engaging accountants when an audit strikes, it will be extremely beneficial to engage them from the onset. By having accountants from the beginning, they will act as your internal auditors, making sure that everything is in the perfect order so that when a government audit strikes, you will be well prepared.

Having accountants for small business, whether working internally or externally, is necessary. While employing an internal team of accountants can be expensive, partnering with a small business accountancy firm and engaging its accountants will prove to be very cost-effective.

If you are searching for the best small business accountancy firm in London, then it is time to end your search at Affinity Associates. As the leading provider of bookkeeping services and accountancy services for small businesses in London, UK, Affinity Associates has the most efficient and experienced bookkeepers, accountants, and tax accountants, who can help firms of all kinds.

Get in touch with us today to find out how our accountants and tax accountants for small business in London, UK, can help you. To contact us, simply visit http://www.affinityassociates.com/contact-us/.

End Your VAT Troubles by Engaging Expert Tax Accountants for Small Business

End Your VAT Troubles by Engaging Expert Tax Accountants for Small Business

Preparing, accounting, and filing VAT returns can be extremely difficult, especially for busy business owners who have other important things to take care of, like overseeing day-to-day operations and managing customers among others. However, by engaging tax accountants for small business in London, UK, like the ones at Affinity Associates, business owners will never have to worry about their VAT matters ever!

Tax accountants for small business in London at Affinity Associates are thoroughly experienced to help you prepare accurate VAT returns, account them precisely in your books, and file them on your behalf to HMRC in a timely manner. In case any queries arise, these expert small business tax accountants will also deal with HMRC on your behalf.

VAT – In a Brief

The value-added tax, or simply VAT, is a form of tax levied on certain goods and services sold by a VAT-registered business in the UK.

Businesses need to register for VAT only if their VAT taxable turnover is in excess of £85,000. The threshold of £85,000 is for the tax year 2018/19, but it may increase by £1000 or so every year.

Even if the turnover is less than the current threshold, small businesses can still voluntarily register for VAT in order to avail certain benefits. Boosting business profile and availing VAT refunds are among several benefits that a small business can achieve by voluntarily registering for VAT.

Once registered for VAT, it becomes compulsory for businesses to prepare and submit VAT returns online, often every three months! In order to pay the VAT bills, businesses must use electronic mediums, such as direct debit, Bacs, debit or corporate credit card. Failing to pay the VAT returns within the due date usually results in surcharges and penalties to the business owner.

There are three different VAT rates in the UK: Standard, Reduced, and Zero. The standard VAT rate is 20%, and it is imposed on most goods and services. The reduced VAT rate is 5%, and it is imposed on certain goods and services, such as children’s car seats, booster seats, and home energy. Finally, there is zero VAT rate, which is imposed on several VAT-taxable goods and services, like children’s clothes and most food products, but it is charged at 0% to the customers.

Availing Assistance for VAT Returns

Looking at above, you can easily see how confusing the VAT matter is. Which VAT rates you should apply to which products and services? How to prepare accurate VAT returns? How to submit VAT returns online to HMRC? How to make VAT payment? How to deal with HMRC in case of queries? How to avail VAT refund? These are just some of the questions that may bother even the savviest business owners. Even if business owners are able to handle VAT preparation and filing, it will prove too bothersome and time-consuming.

In order to free themselves from the troubles of VAT matters, it is sensible for business owners to seek the assistance of professionals. In this case, they are tax accountants.

VAT matters are usual chores for small business tax accountants. They know the ins and outs of VAT and will help you with every VAT matter, ranging from VAT preparation, VAT submission, VAT payment and everything in between. Engaging tax accountants for small business, like at Affinity Associates, will certainly benefit every business owner.

Affinity Associates is a top small business accountancy firm in London, UK. With some of the most competent accountants and tax accountants for small business, Affinity Associates provides a range of accountancy services to small business, including bookkeeping services, payroll services, VAT services, personal and corporate taxation services, and financial advisory services among other.

Browse through our site to learn more about our services http://www.affinityassociates.com/. If you have any questions about our small business accountancy services, feel free to contact us http://www.affinityassociates.com/contact-us/. We’ll be glad to assist you.

Common Small Business Taxes in the UK

Common Small Business Taxes in the UK

Small businesses in the UK and the proprietors or partners who own them are subject to various taxes – ranging from Corporation Tax to Capital Gains Tax.

Below is an overview of some of the most common business taxes you may encounter as a small business owner in the UK.

Corporation Tax

Corporation Tax is a business tax levied on income or profits made by limited companies in the UK.

For Corporation Tax, companies first need to calculate their operating earnings. This is calculated by deducting expenses related to operating the business, like the cost of goods sold, depreciation, general operating costs, etc. from the actual revenues. Once the operating earnings are derived, the existing Corporation Tax rate is applied to ascertain the amount a company is liable to pay to the HM Revenue & Customs (HMRC).

The payment of Corporation Tax is usually due nine months and one day after the end of a company’s accounting period.

The current Corporation Tax rate is 19%.

PAYE

PAYE (Pay As You Earn) is a scheme regulated by HMRC to collect income tax from your employees as they earn it.

Self-proprietors are not affected by PAYE; they need to self-assess their income and file a tax return.

Limited companies, however, that have their own staff and draw salaries, are considered as employers, and they have to understand and operate PAYE as a part of their payroll system.

PAYE is a complicated subject with many rules. For that reason, it will be in the best interest to get professional advice. In fact, for a small business, considering outsourced payroll services, which also include PAYE tax advice, can prove very beneficial.

If operating PAYE, employers must pay to HMRC every month!

Value Added Tax (VAT)

Value Added Tax (VAT) is a consumption tax levied on most goods and services provided by businesses registered in the UK.

UK VAT rates differ based on different goods and services, yet, the current standard VAT rate is 20%, the reduced rate is 5%, and the zero rate is, as you have guessed, 0%.

Companies need to register for VAT if their turnover is more than the current VAT threshold specified by the HMRC. Currently, the VAT threshold is £85,000.

Every VAT-registered business in the UK needs to submit its VAT returns online, usually every three months. And, in order to pay the VAT bill, businesses need to rely on electronic mediums, such as internet banking or direct debit.

Capital Gains Tax

Capital Gains Tax (CGT) is a tax levied on the profit that a company makes by selling its own assets. These assets include plant and machinery, fixtures and fittings, land and building, shares, trademarks, etc.

The current CGT is 20% on profits made from selling assets.

There are ways to reduce the Capital Gains Tax liability, but for that, you need to start early tax planning and get the right tax advice from a professional.

Tax business can be very confusing for a business owner. Therefore, just get in touch with us and engage our experienced tax accountants for small business in the UK.

We are the leading small business accountancy firm with some of the best small business tax accountants in the UK. We will help you deal with all your personal and corporate taxes in the most professional manner. Ranging from Corporation Tax and VAT to PAYE and Capital Gains Tax, our tax accountants for small business in the UK will take care of everything on your behalf.

Contact us today to discover what our small business tax accountants in the UK can do for you: http://www.affinityassociates.com/contact-us/.

What is an Income Statement & Why it is so Important

What is an Income Statement & Why it is so Important

An income statement, otherwise known as a profit and loss (P&L) statement and profit and loss (P&L) account, is a record that measures and shows all the expenses and revenues a company incurred during a specific period of time. The income statement helps determine a company’s financial health and the financial progress it made during a particular period.

The income statement contains sections for revenue and expenses, which include net sales, gross profit, cost of goods sold, selling expenses, general and administrative expenses, and net profit.

Small businesses can easily prepare an income statement using popular accounting software, such as XERO or QuickBooks. Businesses should consistently prepare a profit and loss statement in order to determine whether they are making profit or loss and why.

In order to have an accurate income statement, accurate bookkeeping is necessary.

Why Small Businesses Need to Prepare an Income Statement

There are many reasons why small businesses should be preparing income statements – and other financial statements. Here are three good reasons:

Helps Make Better Decisions

With a profit and loss statement on hand, a business owner is able to look at the past financial performance of their company. With essential data at hand, from sales to profits and operating and non-operating aspects, a business owner will be able to make better financial decisions. By having accurate figures, a business owner is able to make swift decisions, which would otherwise require unreliable guesswork.

Acts as a Proof of Business Success

Having income statements on paper means that a business owner is able to show a chronological record of how their business has been performing over the course of its existence. This ultimately allows a business owner to play the cards right around the stakeholders, or with the buyers if the owner has the intent of selling the business. A P&L account also becomes useful when new clients who wish to do business want a solid proof of a business’ success.

Helps Prepare a Business to File Taxes

A small business and its owner are subject to various forms of business taxes. Paying these taxes is obligatory by law. In order to ensure what tax liabilities a business has, income statements and other financial statements help a lot. Accurate and up-to-date income statements (along with other financial statements) give a business owner all the necessary information they need to calculate various taxes.

An income statement is one of the very important records that every business must prepare. Preparing an accurate income statement and other financial statements can be challenging for a business owner; however, professional help is available! Get in touch with Affinity Associates and engage their skilled accountants for small business in London.

Affinity Associates is a reputable provider of professional accountancy services for small business in the UK. They have some of the most skilled and experienced accountants and tax accountants for small business in London, who can help business owners prepare all the essential financial statements, from journals and ledgers to income statements and balance sheets. These accountants for small business in London can also assist businesses to prepare and file various taxes.

Contact us at Affinity Associates to learn how our accountants for small business in London can help you http://www.affinityassociates.com/contact-us/.

Small Business Accountancy Firm in the UK – What it can do for you?

Small Business Accountancy Firm in the UK – What it can do for you?

With tough competition on the rise, it is essential for UK businesses to do something extraordinary that would give them an edge over their competitors. For instance, engaging a reputable small business accountancy firm in the UK, which can take care of every accounting and financial aspect of the business efficiently can definitely give a much-needed advantage.

Accounting is vital, but at the same time, a time-consuming activity for the business. Some aspects of accounting can be challenging too. In order to ensure that everything is in proper order, a business owner needs to employ an in-house team of full-time accountants. Not just any accountants, but a business owner needs to hire certified and skilled accountants, who can address every accounting aspect of the business. Finding such accountants can be time-consuming. Even if you can find such accountants, keeping them on your permanent payroll can prove to be expensive. And finally, such accountants will only handle your books, and may not come in handy when it comes to addressing the financial matters of your business.

Fortunately, engaging a small business accountancy firm can be the best resort for a business owner. Such a firm has certified and vastly experienced accountants to whom you can outsource various accounting activities of your business. Engaging a small business accountancy firm is substantially cost-effective compared to hiring a permanent staff of accountants. And, the best thing about collaborating with a top small business accountancy firm in the UK, like Affinity Associates, is the value-added services that you can avail along with the quality accountancy services.

Check out what you can avail by partnering with a leading small business accountancy firm in the UK, like Affinity Associates:

Click on each of the services to know more about it in detail.

Affinity Associates is the leading accountancy and consultancy firm in London, UK. With some of the best accountants and tax accountants for small business in the UK, Affinity Associates provides quality accounting, business advisory, and tax services. Being in the profession for over 30 years now, Affinity Associates can help you achieve an edge over your competitors.

To discover more about Affinity Associates, contact us http://www.affinityassociates.com/contact-us/.

How to Find Good Accountants for Small Business

How to Find Good Accountants for Small Business

Are you having trouble preparing and filing your business taxes? Are you unhappy with your current tax accountant? Below are some simple tips for finding and selecting accountants for small business in London to whom you can trust your firm’s paperwork and rely on for practical financial advice.

Why Engage Accountants for Small Business

Engaging accountants for small business can save you substantial time and clear up a lot of confusion you face when it comes to handling your firm’s finances and taxes. Collaborating with reputable accountants for small business in London, however, can offer other benefits as well:

  • Act as a Reliable Advisor – An experienced accountant for small business not only takes care of your books and taxes but also advises on important financial matters. Such an accountant can help you manage cash flow, assess risk, plan for growth, and keep your accounts in order and up-to-date.
  • Help Balance Personal & Business Needs – Most small businesses find that their firm and personal finances are entangled closely into each other. A skilful accountant for small business can help you take sound decisions that are beneficial to both your personal and business needs.

How to Find Good Accountants for Small Business

While referrals are an ideal way to find good accountants and tax accountants for your small business, a simple online search can also help you find experienced professionals. Open up your favourite search engine and search for terms like, “experienced accountants near me,” “reliable accountants for small business near me,” “good tax accountant for small business near me,” “best accountants for small business in London (or your locality),” and other such terms. You will certainly come across several good candidates or firms having such candidates!

Interviewing the Candidates

Once you find several candidates, make a short list of them. Now schedule a free consultation to help ascertain whether or not the accountants are the perfect fit for your specific needs. Ask them the following questions:

How much experience do you have dealing with small businesses? Businesses that are small often have complex accounting requirements and few resources to address them. Accountants who understand the complex needs and have a good base of small business clients will probably cater to your business better in the long run. Also find out whether the accountants have experience dealing with businesses that are formed like yours – sole proprietor, partnership, or incorporated.

How much knowledge do you have with my sector? Preferably, the accountants for small business you decide to choose should have the knowledge of your sector. Often, some accountants specialise in common sectors, like retail, manufacturing, etc., while others specialise in more specific sectors, like law firms, associations, financial firms, etc. whose accounting needs are different. Be sure to engage only those who specialise and have experience in your sector.

What can you do for my business? Professional bookkeepers can help you with bookkeeping. A tax accountant for small business can help you with tax preparation and filing. If you, however, want something more than bookkeeping and tax service, you need to collaborate with a reputable accountancy and consultancy firm, such as Affinity Associates. Such a firm, in addition to having skilled bookkeepers, accountants and tax accountants for small business, have experienced consultants, who can advise on a wide range of financial, business expansion, and tax matters. Engaging such an accountancy and consultancy firm in London will do much more than bookkeeping and accounting for your business.

How much do you charge? Small businesses always have an option to employ an in-house team of full-time accountants. Such an option, however, may prove to be expensive. See to it that the accountants you engage may not drain your pockets. Discuss the accountants’ fees beforehand. You are engaging accountants for small business to save time, and most importantly, money. So, be sure to collaborate the ones who can work at reasonable prices, and at the same time, deliver quality work.

Searching for the best accountants for small business in London? End your search at Affinity Associates. We are the leading accountancy and consultancy firm in the UK and have some of the top accountants for small business in London, who can manage your business finances and taxes efficiently. Our accountants and tax accountants for small business in London will not only handle your books but also help grow your business with practical financial advice.

To discover more about Affinity Associates, simply contact us http://www.affinityassociates.com/contact-us/.

Why Consider Small Business Accountancy Services

Why Consider Small Business Accountancy Services

Do you own a business, but don’t like managing the day-to-day paperwork? Well, you do not have to bother about the payments, receipts, payroll, taxes and other numbers that you must know to keep the business running smoothly. There are several good reasons to consider small business accountancy services to take care of your company’s finances. Here are just a few of them:

Small Business Accountancy Services Save Time

Taking care of your business’s accounts daily on your own is of course time-consuming. Even if you are proficient with bookkeeping and accounting, it just takes too much of your time, recording and processing each entry. By considering small business accountancy services, or in other words, by engaging professional accountants and tax accountants for small business, you can free up a lot of your time for yourself and focus on your customers and core business activities. Expert accountants and tax accountants for small business will take care of your business’s daily paperwork in the most professional and efficient manner.

Small Business Accountancy Services Saves Money

You do not need to have  a full-time, in-house employee or a team of accountants just to handle the paperwork of your small business. Instead, outsource your entire accountancy to a  competent accountant for small business. Accountancy services for small businesses are substantially economical than employing an in-house employee or a team.

Small Business Accountancy Services Ensure Accuracy

Many good computer programs are available that help you keep the paperwork of your business in order. Yet, errors can still be made and they can prove to be very costly. By engaging skilled accountants and tax accountants for small business, you can rest assured that your accounts will be accurate and free from errors. The HMRC do not like inaccurate accounts and if you are audited, then you are on your own. With a professional accountant , however, you will have strong backing, especially during audits.

Small Business Accountancy Services Help Stay Organised

Heaps of invoices, receipts, and other papers can easily mess your office. By engaging experienced accountants and tax accountants for small business, you can turn in all the information and it will be efficiently stored online for you to view from anywhere, at any time.

If you need quality small business accountancy in London, UK, then you have come to the right place. At Affinity Associates, we provide top-quality small business accountancy to all kinds of businesses in London and across the UK. We have some of the best accountants and tax accountants for small business in London, who can take care of your entire accounts in the most efficient and professional manner.

To discover more about our accountancy services for small businesses, contact us from this page http://www.affinityassociates.com/contact-us/.

Top Tips for Choosing Accountants for Small Business

Top Tips for Choosing Accountants for Small Business

Professional accountants for small business can be very resourceful for any kinds of business owners. Experienced accountants for small business will keep your accounts in order, will advise on tax planning opportunities, and will ensure that your business stays in compliance with every legislation. Here are some tips to help you select the best accountants for small business.

Top Tips for Choosing Accountants for Small Business

  1. If you are a start-up business, engage professional accountants for small business at the earliest, as they will be able to give advice on numerous essential things, including establishing streamlined bookkeeping and accounting processes.
  2. Ensure the prospective accountants are well qualified. Most accounting and consulting firms in the UK are members of an established accountancy body, such as ACCA (Association of Chartered Certified Accountants) or ICAEW (Institute of Chartered Accountants in England and Wales).
  3. Ensure the accountant has experience of dealing with small businesses that are in the same trade sector as your business. If you are a law firm or a financial services firm, for example, it will be in your best interest to engage specialist accountants instead of “general” accountants for small business.
  4. See how much the accountancy firm will charge you and value will they add to your business. Also, find out how they will charge you – monthly or annually? Can the accountancy firm you decide to pick offer a bespoke quote?
  5. Find out what additional services your accountants provide. Along with normal tasks, such as bookkeeping, payroll management, annual accounts preparation, etc., will your accountants for small business help with tax planning, tax return, company formation, management consultancy and other services that are essential for your business?
  6. Contact a handful of accountancy and consultancy firms in the UK when selecting accountants for small business. Meet some of those firms in person to get an idea of whether they are professional, suitable and competent enough for your business.
  7. Instead of choosing a larger accounting and consulting firms, settle with a small, yet proficient firm with the required skill sets and resources. Generally a small accounting and consulting firm tends to understand the unique and specific needs of small businesses more than larger firms. Smaller firms are also more reactive and also proactive to small business needs than larger firms.
  8. Find out what the existing clients of your prospective accountants say about them. This will give you a good insight on how they work. Ask your potential accountants to give you some business references to whom you can talk to about their experiences with the accountants.
  9. One of the biggest problems small businesses face is the communication with the accountants. The need to see the essential financial reports may arise at any time, even during the night or when you are somewhere in another part of the world, planning business expansion. If you are not able to get the reports when you need, you may face trouble or miss out on something of value. Time is of the essence and you need an accountant who empathises with your aspirations and vision.

    Therefore, choose the local accountants who are swift and efficient with the communication and use modern technology to make your work and financial reports available online, which you can access from anywhere, at any time.

  10. Choose accountants for small business who consider you as a valuable partner instead of just a client. Only a partner can understand your business better and help with its prosperity. Some reputable accounting and consulting firms in the UK offer a free trial, which can help you decide whether they can become your true partner or not.

Engaging professional accountants for small business, like  Affinity Associates, is certainly beneficial for your business.

Affinity Associates is a reputable accounting and consulting firm that has some of the best accountants and tax accountants for small business in London, UK. Certified and vastly experienced. Professional accountants at Affinity Associates provide a complete small business accountancy service in London and across the UK.

To learn more about the accountants and tax accountants for small business in the UK at Affinity Associates, please explore our site http://www.affinityassociates.com/ or contact us at info@affinityassociates.com.