Search Results for: book keeping

Bookkeeping Services Fees in London

Bookkeeping Service Specialists in London and Essex 

 

Why does a business need bookkeeping?

Bookkeeping services are a vital part of the business and every business is responsible to keep legal records of all their transactions.  There is no format but it is recommended that you keep copies of Sales, Purchases , Expenses and a nominal activity report for the periods. This can be kept on a software system as we are reaching the age of digital tax. Records are also easier to access electronically. A bookkeeping software system allows you to have control of your business.  It allows you to see your creditors and debtors at any given time. The data allows you to make informed decisions about the business and can help you maintain accurate data when needed.

How does the process work?

We request your bookkeeping records; you may have these in paper format or filed away electronically. It is important you keep good records to claim the relevant expense, otherwise it will be difficult to prove this to HMRC.  We can provide you with our bookkeeping software or you can outsource all of your bookkeeping to us. We will contact you and set a suitable frequency in order to start the procedure. If you are a vat registered business, we will give you access to the software and you will be able to check your records at any time.

How much does a bookkeeper cost?

GM Professional Accountants deliver a highly efficient bookkeeping service to Londoners. We guarantee exceptional standards of work and provide up to date and thorough information, to enable you to make the right decisions for your business. Even if you’re a small business, we provide low cost packages that meet your needs. Bookkeeping services can start as little as £50 per month for new start ups. You can tailor the package to your needs. We can even provide you with our own online bookkeeping software.

GM Professional Accountants Bookkeeping services are for all self-employed and business owners. All our Accountancy Services include Bookkeeping, so you do not need to think about the extra costs of having to outsource this work, as we keep all your books up to date. Small Business owners see this as a cost effective way of calculating their annual tax returns, as they have reduced the costs of having a bookkeeper and an accountant; GM Professional Accountants are two in one!

Bookkeeping services Barking

Bookkeeping charges for small businesses 

Our professional and experienced accountants have been processing multiple companies’ books for years, whilst preparing and submitting Self Assessment Tax Returns and small business accounts. Bookkeeping is never neglected by any of our accountants, because bookkeeping is the foundation to file your annual or quarterly tax returns. We have saved you – the business owner, the cost of having to pay outsourced bookkeepers to prepare and update your books for you. All you have to do is send us all the relevant information and paperwork and as soon as we are your registered accountants, our accountants will go ahead and start updating your books.

By letting GM Professional Accountants deal with your bookkeeping, which saves extra cost and time, it lets you focus on the growth of your business so you can increase your income as much as you can. GM Professional Accountants want business owners to be relaxed and take their mind off paper work. It also reduces the risks of your books being miscalculated or our accountants having to track other peoples work.

 

So what do our Bookkeepers do?

  • Update your books at all times
  • Reconcile your bank account with your bank statement
  • Go over your Trade Receivables
  • Go over your Trade Payables
  • Reconcile your customer and supplier accounts
  • Leave any outstanding or pending payments in and out

Our accountants will always contact you to find out about the missing information that we have no record of, so we can put them in the correct account and your tax bill is calculated correctly. This is one advantage of leaving the Bookkeeping up to the accountants, so we know what to do to reduce your tax bill. Outsourced Bookkeepers will only know how to process your books, so your work is being delivered by experienced Accountants who have been doing this for years.

The best part about letting accountants do the bookkeeping for you is that you can just post it or email it to us. We will just enquire about what we need and the work will be done.

Two points to consider: It reduces risks for any miscalculations and it is free with all packages.

Contact us now for more information about our Bookkeeping Services and book an appointment with us on:

Telephone: 0208 396 6128

Or email: info@gmprofessionalaccountants.co.uk

How to find accountants near me using reviews

Accountants near me reviews

If you need to hire an accountant near you, your best way to find an experienced, skilled and trustworthy professional is using online reviews on Google and Yell. While everyone is familiar with making a local search for on Google or searching for reviews, using Yell to find accountants might be something of a novelty for you.

Use Yell.com business directory

Yell.com is an online service in the UK that lists local businesses. Searching on Yell.com is a simple and quick way to find a local accounting professional. This business directory is divided on various categories. So, in order to filter your search category, you need to first search for “accountants”.

By entering what you are looking for, the business directory will retrieve listing results from the proper classification. Then, you can take your search one step further by making your search local. Yell will show local matches in the order of your proximity to your location. The business directory aims to always provide the most relevant local results. Check online ratings, testimonials and reviews
Accountants near me reviews
In order to select one of the local accounting firms or professionals for your payroll services or tax return, one of the first things to check is their rating among the former clients. Check feedback and reviews in order to evaluate their online reputation.

Read the online testimonials and reviews in detail. If the majority of the online reviews of an accountant or accounting firm are generally positive, this is a good indication that their clients are content with the exceptional services provided. On the other side, if the majority of online reviews are negative, this is a sign that the services provided by the accounting professional or the accounting firm to their clients are not adequate.

You should also read the testimonials from the past clients, apart from online reviews. The quality of the services provided is well reflected in these client testimonials. You can find testimonials on the website of the accounting professional or accounting firm.

You may even ask the accountant you consider hiring to provide a list of previous clients. Then, you can randomly call up some of these clients in order to request them information about the service quality of the accountant.

Getting referrals is another recommended method to ensure you’ll receive high quality accounting service. You can get these referrals from professional associations or from friends. When an accountant firm has been referred to you, they will feel a double obligation to do their job well.

You can trust GM professional accountants

One of the accounting firms with solid reputation is GM professional accountants. This local firm in the South East is providing a complete range of services that cater to small to medium sized limited companies, partnerships and self employed individuals. They offer a pro-active and prompt service that provides good value for your money.

GM professional accountants is practicing a fixed fee that depends on the size of your business. The fee is fixed for the first 2 years of providing you accounting service and agreed in advance. You can even arrange paying in monthly installments. Among the services provided are included accounting, book keeping, payrolls, tax planning and compliance, VAT returns, self assessment tax returns, forecasting and business planning.

Accountants open on Saturday

Businesses open on Saturdays

The need has come for Accountants to open on Saturdays. Opening of both private and public firms on normal days in the United Kingdom should run from Monday to Friday, depending on the country’s stipulations in the constitution of the United Kingdom. These are the basic principles for opening days of offices in the country and are required of all firms to suit fin the schedule in order to serve the public better. Any institution bestowed with the responsibility to serve the public be it accountants, the teachers and those in other private businesses should adhere to the common rules that govern us as a nation bound by common principles and way of life.

Accounting firms are bestowed with the responsibility to serve the nation in matters of book keeping, helping businesses in ensuring they do not overlook the tax return deadline on top of the many other responsibilities they are entrusted with. The accountants in the respective institutions work optimally into fulfilling the needs of the clients in the various offices of accounts to ensure that at the end of the day, the clients’ do not exceed the tax return deadline that has huge penalties on going past its threshold.Accountants open on saturdays

GM Professional Accountants

Welcome to GM Professional Accountants, where we serve customers in a much better way in consideration of many factors. At GM Professional , we have put it a guarantee to serve our customers six days a week without compromise for we treasure the individual needs of the clients’ in their respective positions. We ensure that the tax return deadline is not exceeded by our customers for we care about the huge and heavy penalties our bookkeeping departments would have to bear on behalf of the client. The clients’ subject to penalties because of exceeding the deadline for our deliberate failure to open on Saturday is one thing we avoid. We open on Saturday on a full time from 9.00 am to 5.30 pm for the many reasons that we thought would be an advantage to our esteemed customers.

GM Professional Accounts believe that most people are busy during the week days and only find time on Saturday to work on attending to their other offside duties like filing their tax returns. It is on Saturday, according to GM Professional accountants, that people have time to go attend on private issues for instance checking on the tax return deadline from their various accountants since during week days they barely leave their places of work for such activities.

The book keeping team at GM Professional Accountants have the pleasure of serving their customers right from 9.00 am to 5.30 pm all the six days of the week Saturday being the last for the week. Accountants at GM Professional are keen into taking into consideration the records of the customers for book keeping for disappointment from the clients is not part of their calling. Saturday in most cases is the day that most people turn up to file returns in order to avoid getting past the tax return deadline. GM Professional Accountants make up part of the firms that keep London City live and meaningful on Saturdays.

Accountants in Ilford Essex & London

Claiming Your Tax Rebate

GM Professional Accountants

Contact us now on  0208 396 6128 for a free consultation

  • GM Professional accountants are Specialist Small Business Accountants

  • We provide Fixed Fees for all our services

  • Awarded the Three best rated Accountants

We are accountants based in Ilford Essex and London. Our office in Ilford is walking distance from Ilford train station and amidst the town centre and the administrative centre of the London Borough of Redbridge.

Whether your a Limited company or sole trader based in London or in Ilford Essex. Its a vital part of the business to have your accounting records up to date in order to make informed decisions.

The accounting software's don’t provide all the information needed for business growth. Owners need to seek help from an accountant, as well as a tax adviser to benefit the business for their bookkeeping and tax planning needs. GM Professional Accountants are the experts, our role is to handle the bookkeeping for the business and provide the Tax preparations services.

We work with the businesses and help you meet your deadlines. We serve different clients including Landlords, Limited companies  and all organisation within small business field. Our company also specialises with income Tax Returns for self employed individuals.

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We provide a wide range of services such as  Small Business Accounting, Payroll Services, Bookkeeping Services and Tax Planning. We also provide flexible, unique and time saving online accounting services to our clients. The role of these online help is to make sure that we provide superior services to those located in and outside London or Ilford Essex.

There are many accountancy companies in London, but it is hard to separate those that offer good services from those that provide poor services. However, we are proud to state that our accountancy firm is one of the Best rated among the companies in London. To confirm this, please review our Accountancy firm by checking what other people say about our services on clients’ Google page.

You can also confirm this by checking whether our connection to accounting bodies that set standards and regulations in the area of book keeping. You can stop searching accountants near me as GM professional accountants are experts in Tax and specialise in small businesses. As described earlier, we are London based small business accountants who have worked many clients in and around East London. We have also worked with clients from East Ham, Manor Park, Ilford, Barking, Stratford, Plaistow and Wanstead.

What sets us apart from other accountants is our skills and commitment. We are famous for our ability to stay current in an ever-changing accounting and HM revenue and customs tax laws.  Our accountants shed light on areas where expenses arise and helps you stay obedient. Working with us will make sure that your self-assessment and tax returns are punctual, accurate and filed on time. Our company offer great packages for small businesses and assist you your company accounts and help file your tax return. You can register yourself as self-employed at the latest in your businesses second Tax Year of 5th October.

Limited company Accounting Services in Ilford Essex

We are passionate about our clients and we have the skills wanted for their unique book keeping needs. We delight in freeing our clients from their daily book keeping tasks. With our help, small business owners can take time away from their daily book keeping tasks and focus on other business related needs such as business development. Not all small business owners have book keeping skills and we know this. Therefore, our services are designed to take care of your business like you would take care of it with full expertise and caution.

We also know that small business bookkeeping is vital for business growth and success. We also know that small business are different in terms of skills and financial record keeping needs. For that reason, our services are made to serve every uniqueness and to grow every business under our care. Our experts also spends time with business owners discussing their financial plan and the company accounts filing duties.

This helps in knowing what every business needs and also helps in planning the Company filing and any other related business needs. If you want advice on the Tax returns and to submit your HMRC Tax Return Online, our tax advisers will do that for you. We know that small businesses are cost sensitive. We have considered this need and each of our packages is provided at the lowest cost in the market. Our services are cheap, easy to use and hassle free.

Payroll Services in Ilford Essex

Business needs change with business growth and expansion. At the early stage of most businesses, payroll processing is not viewed as a problem.  At times, payroll processing is left out of the business plan because it is not viewed as an immediate concern when planning for the start up business. Later, payroll processing becomes difficult and time consuming and businesses find it hard to cope with their growing payroll needs. At this stage, most businesses choose to outsource experts to deal with their payroll services and this is done while under pressure. Some of them fail to choose the right expert, which results in high costs and time wastage.

We as experts are aware of all these facts and our services serve all needs of small companies. Our services in this area are accurate and cost effective. The benefits of our payroll services on small sized companies are related to the fact staff members need time to focus on their yield. Our services also save time and also saves the business from some payroll related costs. While providing clients with payroll services, we consider such things as price and ease of use.

Our services are modern and saves businesses some costs. This means that costs related to payroll do not have to be passed to the customers, which is likely to affect company’s growth and competitive advantage. Our payroll services are also available online, which means that there is no need to waste time calling for payroll services.  Our payroll services are therefore useful, time saving and pleasing.

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Bookkeeping Services in Ilford Essex

Our company also provides consultancy services to small businesses. Our advice is based on our many year of practice in the area of book keeping. You can visit our online platform or our offices in London where we can talk about many accountancy issues that are likely to affect your business. For those who conduct their own book keeping services, we advise them to keep their accounts in an orderly manner. We also advise them to file them at all times by separating them based on each Accounting Period.

This makes sure that you stay organised and compliant during your the monthly, quarterly and yearly deadlines. This also makes that your accounts are easy to read and follow. Also keep your bank statements and business related expenses, purchases and sales separate.

Failure to maintain your records, this will lead to fines. Accounts are very important to keep up to date, as this is the foundation for accounts. Accounts also help to define whether your business is doing well over the years.  A profit or loss for the year can be created to see how well your business is doing in your current year. If you are a Sole Trader or a Limited Company you will have to file Accounts annually. For VAT Registered businesses, Sole Trader or Limited Company, your VAT Returns must be done quarterly or annually.

This means you will have to stay organized and compliant at all times to help you make the year end process efficient. When the new digital tax scheme comes into place in the near future, all small business and self-employed persons will have to file and submit tax returns quarterly. You must also stay organised when you need to submit a Tax Rebate form. You will need to make sure you have your p45s and p60s for correct summations.

If you think you have been Taxed unfairly, you can check our Tax Refund page, which explains if you are legible for a Tax Refund. If you have still not received your p45 or p60 from your former bosses, contact them as soon as possible. They are most likely to have these forms as they have a legal obligation to keep records for 6 years. The best way to organise your Payslips, p45s and p60s are to create a filing system which can separate the financial years in monthly order. This way you will stay compliant.

Tax Services

Making some tax savings is the goal of most companies. To address these related challenges and to make some savings from the same, it is good to apply the guidance of financial experts like us. Our skilled accountants have the skills and the competence needed to make sure that you make some tax savings and that you seize any open chance. Our experts view planning as a chief process of the strategic tax planning process. We know that some calculated decisions cannot be made by one person. Therefore, we use our teams of skilled accountants when planning for your levies for good results.

Our experts are gifted with various skills at the local, national and global level meaning that you can trust us with your tax planning at ball these levels. Since we have served different clients’ needs, we have a lot of knowledge on many issues that may affect your business. We also know the issues that businesses at different levels face. We know that the tax issues of a small business might not be similar to those of a global corporation. Therefore, our company covers every situation that affects every business in a unique way.

Corporate Tax Services

Among the tax services provided are those provided to large companies. Our company makes sure that we manage your company even at its high performing capacity. We help business with goal setting, debt management and cash flow management. We also help them with income tax preparation and planning, planning of retirement benefits and stock option planning. We also deal with corporate gift planning and education finding planning. Our goal when providing this help to various businesses is to give them long term expert services and counselling on issues related to tax planning.

Global Tax

Our company also provides tax services at the global level. This helps our clients in reducing their global tax burdens. We also provide our clients with services that help them in knowing more about tax at the global levels. During mergers and when procuring new companies, our accountants helps our clients in making strategic tax plans.

This is also the case during transfer pricing, global integration and tax auditing. In summary and in relation to tax planning, we provide tax advice and support for your short term and long term business aims. We also understand all the tax planning laws and duties that your business should follow and we provide you with advice on tax compliance and tax obligations. This makes sure that our clients avoid heavy penalties and that they avoid the costly tax checks that take place after tax evasion.

Individual or Family Tax Services

Apart from large and small businesses, our company helps families and interested persons with tax planning services. Some of the areas of advice and consultancy include long-term, retirement, estate and tax charges. We work to protect our customers from burdens that arise from tax related issues. We have many years of experience and have also dealt with many persons and families. Therefore, we know about every of your single needs. We also try to understand our clients’ financial goals for the purpose of coming up with a unique tax planning approach.

Summary As we finish, remember, our company wins by making winners from other businesses. We also have answers to your book keeping needs and we provide all book keeping help at cheap prices. Our able workers are interested in your business’ health. Many years of practice in book keeping methods helps our client in a special and pleasant manner. We understand that running a business is stressful and we want to take part of this stress form you. Our main aim at this moment is to come up with a mutual long term tie with all our customers. We will make this possible through our true and quality services. Our services 

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How to benefit from Freeagents Software From Accountants in London

What is FreeAgent Software

FreeAgent is a cloud-based bookkeeping solution for freelancers, bookkeepers and also tiny businesses proprietors to handle invoices, costs, pay-roll, income tax return as well as other accounting tasks. FreeAgent additionally uses specialized mobile apps for iphone as well as Android tools.

 

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How We Help with FreeAgent Software

FreeAgent makes it possible for Tax advisors to prepare up recurring billings which are instantly sent out to clients as suggestions making payments. Consumers can also track costs by uploading the photograph from an expense voucher with the FreeAgent mobile phone app.

Freeagent Accountants London

The option gives an integrated stopwatch attribute to manage
timesheets as well as keep track of employee hours. The user dashboard gives a summary of key organisation metrics from a singular display screen. Company proprietors can easily track billings, price quotes, timetables and venture condition.

Tax timeline functions and additionally offers updates and reminders concerning deadlines and tax dues. FreeAgent utilizes a 256-bit safe and secure outlet level relationship to protect customer records.

Finalising Statutory Accounts in FreeAgent

The FreeAgent software enables you accurately order your companies profit and loss account, notes on the accounts and the directors assessment, your auditors report. With the FreeAgent software we can help you finalise your statutory accounts easily and effectively.

For smaller companies what is needed is the balance sheet and tax returns in order to properly finalise statutory accounts.

Features of FreeAgent Software

Access to Overview
FreeAgent is fantastic because that permits you to look at each of your accounting information in one place. The 1st Online control panel is crystal clear, to the point and transparent. When making use of a typical accountant it may be actually tough to gain access to this kind of information
without a large volume of email or telephone call back-and-forth.Along with the FreeAgent dash panel, the review is accessible to you whenever you require this.

Fast Access to Information
You could quickly track the progress of your service profiles with a glimpse at thedash panel. We assume this simplifies the accountancy process through a very long way. You can find the modifications created to your financial resources on your own.

Choosing an Online Accountant
It used to be very important to have your business’s bookkeeper found in a location not far away. Yet today, even more providers are collaborating online, making use of cloud-based innovation to handle their organisation.

This means that place of operation is actually far less from a concern. With cloud accounting, you and also your accountant may look at identical real opportunity data together– despite where you are actually.

The choice regarding where to find your accounting professional definitely comes up to exactly what satisfies your company well. Relying on exactly how you wish to manage the financial resources, your accountant might definitely be
located in a different part of the globe. For instance, if you more than happy to collaborate via e-mail, phone calls, video-conferences, or protect. bookkeeping software, then you can be in New York and they might be in London, if your bookkeeper can easily be actually anywhere, you can easily discover someone which truly recognizes the specifics of your service or even market.

Choosing an Online Accountant In London
Choosing an online account in London  is very essential because it ensures your account, understand the laws of the land and to properly administer your financial records with respect to the national regulations.

 

GM professional Accountants are based in Ilford Essex

Accountants for construction companies

Accountants for construction limited company

Why Accountants are important for construction companies

It’s in your construction limited company’s interests to finally have a visionary, experienced person handling the most critical department of your company- your ultimate finances. After you’ve decided it’s the right time to have an experienced accountant, the next step is to review how accountants will help reduce your overall taxes.

While some of the contractors decide to handle everything by themselves, this is probably not the best shot to take. Nowadays, you don’t have to hire an accountant located nearby your company. Today, most limited companies are using cloud-based technology to control and manage their firms.Accountants for construction limited company

For an eye-catching fee, you can rely on comprehensive, qualified, and long-term services in all significant areas of accountancy. Contracting comes with responsibilities. Here are the key responsibilities and contracting trends you need to know about.

What are the filing dates for limited construction companies?

Regardless of whether your limited construction company is dormant, trading, or non-trading, you must file your company’s annual accounts with HMRC and the Companies House. For an active limited company, you can submit your annual reports with both the Companies House and the HMRC simultaneously.

After you incorporate your construction limited company, you’ll be assigned a date that will mark the end of your company’s financial year. The date gives you the ultimate guideline on when and how to file your accounts per year.

The Companies House and HMRC require your accompany to file for your first year’s accounts within 21 months of the incorporation date. With your experienced accountants, you don’t have to worry about any of these.

Limited company allowable expenses

When running a construction limited company, you’ll ultimately incur some allowable expenses during your projects. Only legit and genuine expenses are allowable. You can only claim for the expenses incurred necessarily, wholly, and exclusively in due course of running your limited construction company.
You cannot claim for both businesses and personal expenses (Expenses with a dual purpose). Always keep your invoices and receipts to prove that any claims you make are legit. If you have any doubts on the allowable expenses to claim, consider consulting your accountants.

What types of accountancy services do you need for your company?

The types of accountancy services required by your limited construction company depend on your business needs. The main types of services offered include tax accounting, forensic accounting, bookkeeping, public accounting, and accounting audit.

Your construction limited company will need self-assessment directors, payroll, accounts, and vat returns. Contact GM professional accountants for more detailed information.

Why choose GM professional accountants?

If your limited company is based in London, you need to check online reviews and qualifications on Google to hire the right accountants. Here are vital tips steps comprehensive accountants for your business;
. GM professional accountants have a code of ethics and have professional qualifications

. We have over 5 star online reviews and recommendations
. Our packages are affordable
.  There are no hidden costs

GM professional accountants is a comprehensive accounting firm and provide you with long-term support. GM professional accountants specialized in your industry.

Cloud accountants

Cloud Accounting is the Way to Go in the Future

Cloud accountants

Cloud accountants

With everything getting connected to the internet, cloud accounting is the future. A cloud-based accounting process enhances business performance and reduces the workload on an entrepreneur. If numbers scare or annoy you, cloud accounting software that is readily available will ease the process of preparing financial statements.

Benefits of Using Cloud Accounting

Cloud computing is a valuable asset that helps cut down on costs and increase productivity. With the system, cloud accountants will automate your bookkeeping tasks. The software helps to draft tax-friendly reports in good time, forecast expenses and develop a smart investment strategy.

When calculations are automated, human errors are avoided. The trends and patterns of business transactions will be accurate. The system also gives meaning to numbers helping you get a clear image of your financial situation. All your accounting information is safe in a cloud accounting system. You decide who will have access to sensitive information in the system’s settings to prevent financial data from falling into the wrong hands.

Traditional accounting software used to take up too much of an entrepreneur’s time and efforts. The invention of cloud accounting made it possible for businesses to work harder and smarter. Using cloud accounting gives one a better overview of their finances, improves collaboration with the staff and makes business enjoyable. It’s a wise investemt that can save you lots of money and time.

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Types of Cloud Accounting Softwares

There are four different types of cloud accounting systems. They are categorized according to their type of operations. Below is a short overview of various cloud accounting software.

Payroll management systems

They were developed to control a business account payables and receivables. They handle a wide range of tasks from calculating salaries, depositing the salary into the employees’ bank accounts to producing payslips and tax forms.

Enterprise Resource Planning Systems

It’s an important accounting software that combines systems used for product planning, inventory management, material purchasing, accounting, distribution, marketing, among others. It enables a business to learn from its past practices and strategize well for the future.

Time and Expense Management Systems

They produce accurate graphical reports detailing how time and resources have been used in the business. With them, you can detect all the inefficient or slow processes on your system. Time and expense management systems are configurable for adjusting to a specific business’s operational pace.

Billing and Invoice systems

They complete the basic, day-to-day tasks of a business such as informing customers of their due payments and check writing. They preserve the accuracy of accounting numbers and give services a credible and professional look.

Choosing a cloud accountant

Adopting a cloud accounting system is a wise investment for your business, but it’s important to remember that not all cloud accountants have the same standards. In your search for a cloud accountant, you will find numerous options dedicated to different work processes and business sizes.

The best cloud accountants are those that are affordable and easy to use. Systems with timesaving features like automated bill payment, entries, financial reports, etc are great since they ease small business accounting.

You should always go for the software that is well suited to your specific needs. If you intend to use the system in a small enterprise, avoid paying for features that are meant for big businesses. It’s advisable to check out some free trials before making a purchase decision.

Choosing the Right Cloud Accountants

A cloud accounting software has the power to make or break your business. You should not take any chances with it. GM Professional Accountants is a reputable supplier of cloud accountants that you should consider. I was inspired to write on the potential of cloud accounting after reviewing their products. Being a trusted cloud provider, gm will avail your information across devices with their scalable infrastructure. They value their users and always support them. With gm, you can be sure that your business will go to a whole new level.

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Accountants for Amazon sellers

Accountants for Amazon sellers

Accountants for Amazon sellers

Accountants for Amazon sellers

Amazon is a competitive, fast-paced & high-tech company. Selling on Amazon has helped individual and companies
increased their sales and reach new customers. With all the benefits of selling on Amazon, a huge chunk of the total sales come from a third-party selection. Whether you’re a sole seller or Amazon FBA seller, recruiting a good qualified and experienced accountant is an investment worth making.

Choosing an online accountant?

Choosing the right accountant to handle your financial matters is crucial. Look out for CPAs (Certified Public Accountant) with a formal education in finance. As opposed to accountants, CPAs have already passed strict licensing standards created by the state(s) where they practice. Assuring that your accountant has a CPA is a way of testing the calibre of the professional. It is important to be aware that CPAs have a range of skills and specializations. Depending on your business model, it is worth investing your time in recruiting an accountant who specializes in that particular field.

What type of accountancy services will amazon sellers need?

One of the key responsibilities of an accountant for Amazon sellers is bookkeeping. So while your busy sourcing for
new products, tackling a review, responding to customers, tracking shipments. Bookkeeping should not be one of the things that you have to worry about. Hence, recruiting an accountant to do the same will help you focus on
opportunities to earn more revenue for your company. Secondly, an accountant will present a financial analysis, this will help you understand what’s driving your business, where exactly are you falling short, which areas you need to
focus on in order to improve your financials. If that’s not all your accountant will also be directly responsible for handling your sales, VAT & income tax. He/she will help you in tax planning, as it is crucial for any successful
business to keep more than what you make. Furthermore, if you are not a sole trader and have employees in your company, payrolls & the law pertaining to payrolls is one of the key concern of your accountant. Payroll processing can be a both time consuming and tedious, let your accountant take care of tax payments, compliance reports etc. Accountants also provide an in-depth analysis on how how your business is doing in terms of numbers, the growth trajectory, foreseen obstacles and their solution ensuring that you take the right decision at the right time.

What are the filing dates for Amazon sellers?

A Certified Public Accountant (CPA) can help you with almost real-time data in order to help you effectively run your
business. With timely information from an accountant, a seller can make informed management decisions. For e.g. What are the filing dates for Amazon sellers? The answer being, 31st January 2018 for sole traders and 9 Months
after the accounting period ends for companies.  Recruiting an accountant will mean saving taxes, managing risks,
avoiding audits and creating more wealth for your business. In any case if you are being audited, a professional and experienced CPA will help you tackle it and reduce the risk of being audited in the first place. As your business grows
the needs of your business will change and in order to keep up with such changing times, your accountant will brief about the ongoing trends, newer laws and suggest several routes in order to keep your business running. Knowing that your accountant is experienced will help you focus more on your business which will, in turn, increase productivity. Hiring an accountant will not just simply your life but also help you focus on selling rather than accounting for it.

Choosing The Right Accountant In London?

London being the world’s top financial center, finding an accountant should not be a task. However, incase you are
looking for a specialised accounting will require some digging. Location, expertise, associations are just some of the things you need to think about before employing an accountant. Hiring an accountant who has expertise in your field of business will prove to be more efficient. Make sure that your accountant handles every aspect of accounting
with great care. Overlooking an aspect of accounting can lead to miscalculations.

Lastly, as a thumb rule hire an accountant that is proactive about saving your money.

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Accountants for Limited (LTD) company

All about Limited Companies and their Accounting Services

What are the filing dates for limited companies?

If you are the owner of a limited company, then you should know that for filing the first set of accounts, they should be supplied no late than 21 months from the date of incorporation. So for instance, if a company has been established on January 1st, 2017, which will be having January 31st, 2018 as its accounting reference date; so the accounts should not be late than October 1st, 2018. Likewise, the subsequent set of financial records should be supplied no late than 9 months from the following accounting reference date. So if we follow that same dates as mentioned above, then this would be on October 1st, 2019.

Another important point owners should be aware of is that they can file their accounts as soon as the accounting reference date has passed, they don’t have to specifically wait until the deadline. And for filing the first Annual Returns, they should be filed no late than 1 year and 28 days after the incorporation date.

Choosing a online accountant for your small business

What are the allowable expenses?

When you are running a limited company, these are some of the expenses listed below should be expected:

· Employee Salaries

· Pension Contributions

· Sustenance cost while absent from the workplace

· Parking, mileage allowance, and travel costs

· Costs of accommodations when absent from regular place of business

· Costs of printing, stationery, and postage

· Charges of training courses those are applicable to obtain for the business.

· Insurance of the business and its corporation tax as well

· WIFI(broadband) and telephone packages

· Cost of all IT equipment and software.

· Marketing and advertising costs for the business.

· Expenses for incidental overnight stays

· Expenses of the company car

· Expenses for company parties

· Magazines, books, and publications for your Business.

· The expense for the employee’s who have to take eyes tests because they use computers.

· Yearly private health check for all the personnel

What type of accountancy services will limited companies need?

Limited companies need this type of accounting services:

1. VAT and Accounting: The Company will have access to an online bookkeeping and management information portal; they will also get advice and calculation on VAT returns and payments.

2. Payroll: Both advice and calculation on RTI PAYE payments and returns, setup of the monthly payroll and many other things are included

3. Tax: They will be responsible for preparing and filing the year-end corporation tax return with HMRC

4. Bookkeeping: They will be doing the groundwork and filing of year-end financial records with HMRC and Companies House. And they will also be preparing management accounts for every month.

5. Company Secretarial Services

6. Constant Advice and Support

Choosing an online accountant?

When you have to choose accountants for limited companies, hire a specialist who has an immense knowledge about accounting at GM Professional accountants we have relevant knowledge about your sector.

Choosing the right Accountants in London?

To choose the right accountant for your limited company in London, you can trust GM professional accountants. With our 5-star ratings and the best rated accountants in a number of areas, your in safe hands with our tax experts.

Accountants for Travel Agents

Accountants for Travel Agents: Everything You Need to Know

Accountants for Travel Agents

Accountants for Travel Agents

The UK’s travel industry is highly regulated. It is one of the specialist sectors that are always on the spotlight. That is why you need to be thoroughly informed about the accounting policies that affect your travel agency. Bear in mind that a wrong decision can easily lead to dire financial and even legal consequences.

For example, if you fail to file your tax returns before the stipulated deadline you will be eligible for a penalty and possibly interest on the same penalty. Such unnecessary and avoidable expenses may affect your cash flow and liquidity gravely. That is why most big travel companies have internal accounting departments to help with such matters.

Unfortunately not all travel agents can afford that. The good news is that you can still get a professional and affordable accountant to advise you accordingly. That is, in fact, the best way to go about handling your accounting and tax matters. Having said that, it will help if you have some background knowledge on the same. Here we have covered the basics regarding accounting and tax requirements for UK travel agents.

Self Assessment Returns and Dates

The self assessment system is used by HM Revenue and Customs (HMRC) to collect tax from individuals. As a travel agent, it means you are either self-employed (sole trader) or a partnership. Your tax won’t be deducted automatically as is the case with wages, pensions and savings. That means you will have to do the return yourself (hence the term self-assessment). You can either do that online or send a paper form. The deadline for making online tax returns is 31st January while that for making paper returns is 31st October. Regardless of how you make the returns, you should pay the tax amount you owe by midnight, 31st January.

There is an exception though if your travel agency is a limited company whose accounting year ends on any date. In that case the deadline for making your online returns will be exactly 12 months from the first day of your accounting year. The deadline for paper returns will be 9 months and one day after the start of your accounting year.

If you miss the deadline you will be charged a £ 100 fine. The amount will be more if your tax return is more than 3 months late. If your agency is a limited company you may receive a letter from the HMRC telling you how much they think you should pay. That is referred to as a tax determination.

What are  Allowable Expenses

On paper, you are mandated to pay tax on all the moneys you spend on running your travel business. But that is not always the case, the HMRC will not charge you tax on certain costs. Such costs are known as allowable expenses and they help keep your business running efficiently.

The most common allowable expenses for a travel agent include travel costs, office costs, clothing (if you wear uniforms), financial costs (like insurance or banking charges), advertising and costs incurred from maintaining business vehicles. You may also be exempted from paying tax on capital assets that double up as personal property. For example, if you use your personal car to move clients from place to place it can qualify as an allowable expense as a mileage log expense. You can contact GM professional accountants for a full list of allowable expenses because they vary depending on the type of business (whether self-employed or company).

The Accountancy Services You May Need

Other than tax obligations, your travel company will also need to consider hiring an accountant for additional accounting services. Your needs will largely depend on the type of business. For example, if you are self-employed you may be better off with simple, book-keeping services. But if you are a company you may want to consider a full accounting service package that includes preparation of annual reports, payroll and bookkeeping. Here is a list showing accounting services that a typical travel company should have as well as optional add-ons:

– Must-have accounting services

– Management of bank account

– Register your Limited company

– Submit tax returns

– Prepare payrolls and payslips

– Do monthly book-keeping

– Prepare financial statements

Optional services (depend on your company’s size and needs)

– Prepare quarterly and semi-annual reports

– Do internal audits

– Prepare paperwork for division of dividends (if applicable)

– Submit annual returns to HMRC

– Liaise with other service providers (like insurers and banks)

Choosing the Best Travel Industry Accountant in London

Knowing what to expect from your accountant is good, but choosing the best accountant is even better. Having the best accountant will lead to financial efficiency and business growth. With so many accountants for travel agents based in London, how do you go about choosing the right one for your business?

  1. Choose a certifiedaccountant. Do not shy away from asking them to show you their certification. Makesure they are a Certified Public Accountant (CPA), Chartered Accountant and/or AAT Licensed Accountant based on UK accreditation.
  1. A good working experience in the travel industry should be a priority. Being an accountant doesn’t necessarily mean they will help you in your industry. Look at some of their current clients. Are they in the travel industry? Are they based in London?
  1. Affordability is also key.
  1. Only settle for transparent accountants. If they can’t discuss fees and charges explicitly there is every chance they lack transparency and integrity.
  1. The more the services theyoffer the better they are. There are many accounting services (as mentionedalready). Your business will be better off if your accountant can do as many of those as possible.

More Considerations When Choosing an Online Accountant

Add these considerations if you are hiring an online accountant:

  1. Check their reviews to seewhat other clients are saying. If they are rated highly then they offer goodservices.
  1. Where are they located?Location does matter even if they are based online. You should be able to getto their workplace whenever the situation calls for it. So it is better to stick to London-based accountants, preferably those within the same business district as you.
  1. Ask advice from your socialcircles. One or few people might know a reliable online accountant for travelagents.

With that summarised guide, you are in capable hands with GM professional accountants for your travel agent. Remember, with a good accountant your business will grow.

Contact us now

 

GM professional Accountants are Accountants based in London, our Tax advisors are specialists in small businesses and self employed individuals. we offer the whole package from registering you as self employed to bookkeeping services as well as the final accounts and tax returns. Manor park office address, 47 Gladstone Avenue, Manor park, London, E12 6NR, Ilford office address, 14 Clements Court, Clements lane,Ilford,Essex,IG1 2QY Tel: 0208 396 6128,
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