Accountants for Shopify Ecommerce Sellers Online Businesses Ltd

Accountants for shopify E-Commerce Sellers

Accountants for Shopify sellers is a specialist area, the place of supply of goods is an important factor in determining the vat status,

It is highly crucial to make sure accountants are put under control by the bodies of accountancy such as CIMA-Chartered’ Institute of Management’ of Accountants, AAT, ACCA – Certified, ICAS – Institute’ of Chartered Accountants. All these great organizations boast of a high level of standards that ensure you’re able to get the best and high-quality practitioners.

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Specialization in Shopify E-Commerce Accounting

At GM Professional Accountants, our focus is on supporting Shopify e-commerce businesses, particularly those engaging in transactions via platforms like PayPal, Amazon, and eBay. Our team of specialists is adept at assisting with the extraction of vital reports for VAT compliance and meeting accounting deadlines.

Key Submission Dates for Shopify E-Commerce Entrepreneurs

Tax return submission dates vary for sole traders and incorporated companies. Sole traders, regardless of their employment status, must submit tax returns by January 31st annually. Registered companies dealing in Shopify e-commerce must file returns within nine months after their accounting period ends.

Eligible Expense Claims

  • Maintain records of all sales-related expenses in your e-commerce venture.
  • Claim tax preparation expenses, whether using professional accounting services or software.
  • Re-selling expenses, shipping costs, and associated taxes.
  • Office equipment expenses, including furniture, internet service, computers, etc.
  • Manufacturing costs for tools, supplies, and materials.
  • Home office deductions for exclusive business use.
  • Record and claim deductions for damaged or returned items.
  • Prepare for various fees including Shopify, bank, PayPal, and postage.
Essential Accounting Services for E-Commerce Sellers

E-commerce sellers require a range of accounting services, including:

  • Payroll management
  • Confirmation statement preparation
  • Bookkeeping services
  • Statutory company accounts and abbreviated accounts
  • CT600
  • Pension compliance statements
  • Quarterly VAT returns
  • Directors’ self-assessment tax returns

Regardless of the size or scale of your e-commerce activities, tax return filing is mandatory. Partnering with expert accountants and tax professionals can help manage your financial and accounting responsibilities effectively, allowing you to focus on growing your business.

Optimal Accounting Software for Shopify Integration

For online businesses, a cloud-based bookkeeping system like Xero, with which GM Professional Accountants is partnered, is ideal. This system facilitates digital record-keeping and provides comprehensive reporting capabilities.

Contact Us

GM Professional Accountants has offices in London, Manchester, and Essex, ready to assist with your Shopify e-commerce accounting needs.