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Posts Tagged ‘accountant for small business’

xero certified advisor

Transform Accounting  – the accountants for small business, are now offering the option of cloud based on line accounting systems to our existing and future clients.

Transform Accounting have a wide variety of clients who require different things from their accountants;
– A sole trader or an individual with rental properties may require once a year assistance with tax planning, tax return preparation and HMRC filing.
– A contractor or consultant with a vat registered limited company in addition to the requirements of a sole trader will also usually require book keeping, payroll, quarterly vat returns, statutory accounts filing and advice regarding dividend payments and keeping tax bills to a minimum.
– Other clients require Transform Accounting to take over their back office functions entirely to provide services including invoicing, credit control, accounts payable and cashbook management in addition to those services provided for contractor/consultant limited companies.
– Small business owners of all types will often also require regular management accounts, tax position updates and profitability analyses.

In order to satisfy these clients, Transform Accounting have assessed the various cloud based accounting systems available in the UK and after a successful pilot have chosen Xero accounting as their preferred cloud accounting partner.

Transform Accounting will now be offering the option of cloud based on line accounting systems to our existing and future clients.Both partners of Transform Accounting have recently earned Certified Advisor status from Xero accounting.

We will publish more details in later posts, but if the idea of being able to share access to your company accounts by either a web browser, ipad, iphone or android phone app appeals then this could be ideal for you.

Other great benefits can include ;

– using your phone or tablet to take a photograph of invoices/receipts and have it immediately sent to your accountant for processing
– raising expense claims on your phone or tablet,
– raising invoices on your phone or tablet
– having access to your most up to date accounts allowing you to immediately see how your business is performing.

As a measure of confidence in Xero, Transform Accounting Ltd have already moved their own company accounts to this platform and have started to migrate existing customers and new clients alike and all have been delighted with the results.

If you would like to know any more about how cloud based accounting could help your business, or if your old accountant does not offer this option, please get in touch with Transform Accounting.

Transform Accounting are Chartered Management Accountants and Tax Technicians able to assist with personal tax returns, sole traders and company payroll whilst specialising in limited companies, consultants, contractors and business start-ups. Fixed fee packages are available as are free initial consultations. Customer references are available on request.

See www.transformaccounting.co.uk or contact by telephone on 01277 365447 or by e mail at info@transformaccounting.co.uk

Epping Accountant – Transform Accounting – Essex Accountant

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tim healy

Allowed Business Expenses for Tax

You may know actor Tim Healy from his role as Dennis in the TV drama Auf Wiedersehen Pet and more recently as cross dressing “Les” in Benidorm.

But Tim has recently made the headlines by challenging HMRC in a landmark tax tribunal.

You Win Some

Mr Healy was successful in his claim for £32,000 of accommodation expenses to be allowed to be treated as tax deductible. These accommodation expenses were related to a period when he was rehearsing for the Billy Elliot theatre production in London and were held to be “wholly and exclusively for the purposes of his profession”.

You Lose Some

However, he lost his claim for £4,000 of taxi fares to be treated in a similar manner. The presiding judge declared that he could have been successful in his claim had he maintained more thorough records of his taxi journeys, but that she was unconvinced that they were all related to his profession and felt that it was likely that at least some of them related to socialising.

Interestingly, the judge concluded this after also reviewing Mr Healey’s bank statements which showed that some of the claimed journeys were at the same time as he was visiting the Groucho club in London, for socialising purposes rather than as part of his acting work.

Keep Tax Records

An interesting lesson learned here is for anyone who is going to claim taxi expenses to keep good records of the journeys being claimed in the event of a challenge from HMRC.

New Accountant for Small Business – Transform Accounting – The Essex Accountant

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