Accounting Services For Small Businesses
by specialist small to medium business accountants
Every small business is different, and that’s a fact that should be celebrated. While many larger accountancy firms will offer small business accounting packages, a one-size-fits-all solution, we reject that style of accountancy for smaller businesses. You need a service that’s as individual as your growing company.
Growing from a small to medium business ourselves, we understand the demands and challenges of running a small business, so who better to partner with?
Warr & Co are a progressive firm. We continually aim to improve our services to make running a business as easy as possible for our clients. All of the small businesses we work with have the option to utilise one of our five recommended cloud accounting softwares, available to our clients at a reduced rate*.
We offer a wide range of accounting services for small businesses in all sectors of the economy including: assisting with start-ups; advising on the available legal structures such as sole trader partnership, LLP and limited companies; introductions to banks, solicitors, IFAs and other professionals; preparation of business plans; tax planning and accounts preparation.
*reduced rate is compared to services’ own list price.
Specialist Small Business Accountants
Small businesses are busy, productive environments that demand proactive solutions. You may require just a handful of services from a small business accountant, or the whole package. You may be unsure of how much help and advice you need from a small business accountant or be looking to pass more administrative work over to a small business accountant in the future. The key to our small business accounting services is flexibility. We’re flexible where you need us to be – think of us as a partner working alongside your business, helping it develop and grow.
The services we offer include:
- Company formation
- Advice on bookkeeping
- HMRC registrations covering PAYE, VAT and Corporation Tax
- Advice on tax efficient share structure and remunerations
- Assistance with VAT and PAYE filing
- Assistance with financial planning including referrals to IFAs
- Payroll & auto enrolment
- And much more
Additional Relevant Information For Small Businesses
As of April 2019, all businesses above the VAT threshold will be required to use a digital cloud-based bookkeeping solution to submit tax returns to HMRC. So to get our clients off on the right foot, we’ve selected our top five providers and partnered with them to help our clients be MTD (Making Tax Digital) compliant.
The Best Cloud Bookkeeping Services For Small Businesses
We’ve tried and tested the best that is available, and while all five of the services we offer to clients at a discounted rate are compliant and user-friendly, some may be better than others for your specific business.
Our accountants are happy to point you in the direction of the cloud accounting solution that best fits your business model, helping to ensure you have the service you need for the long term.
Take a look at our recommended services and contact us if you’d like to become a client and benefit from signing up to a cloud bookkeeping solution for small businesses with us.
What Is Professional Indemnity Insurance?
Professional indemnity insurance is the most important type of insurance that your small business should have. This type of insurance protects you against claims made by clients and customers.
Professional indemnity insurance will cover you and your business from the every-day risks that can come with being a small business. Imagine a mistake has been made by one of your staff members in the past, now imagine the costs that are potentially applicable in correcting that mistake and the loss which your customer could have incurred as a result and your business could potentially be liable for.
While it’s worth noting that these cases are rare, they do happen every year. Without professional indemnity insurance, you and your business are at huge risk every day. Insurance is an affordable and tax deductible safety net for your business.
Why Do We Recommend Professional Indemnity Insurance?
If an occasion should arise where you and your enter a dispute over an error made, work standards or expectations, your business needs to be protected from a potential claim. It’s worth noting, that even if you are in no way at fault, a claim could still be made against your business resulting in you having to defend yourself at your own cost.
Professional indemnity insurance protects you from some of the costs associated and that is why the team at Warr & Co believe this is an essential requirement for your small business.
Warr & Co have teamed up with Caunce O’Hara – small business insurance specialists – to offer professional services to our client base. Caunce O’Hara, a top 100 independent broker, were selected by our board of directors for their expertise in the the small business market, combining decades of specialist experience. In addition, the team at Caunce O’Hara provide a 24/7 easy purchase option, simply fill your business details in on the link below to obtain a quote and click to begin your policy.
We can’t stress enough the importance of protecting your business with professional indemnity insurance, please click the link below to visit Caunce O’Hara for a free no-obligation quote now.
*By clicking the link above you understand that you will be directed to a third party website. If you choose to proceed to purchase insurance products from Caunce O’ Hara, Warr & Co will receive commission for your purchase, and by clicking this link, you agree that Warr & Co Limited may retain this. For example should you purchase a professional indemnity insurance policy for £200 (net of IPT) Warr & Co would receive £15 as commission.
What Is A Tax Enquiry?
A Tax Enquiry is an HMRC investigation into your businesses taxes. Often this is not a simple process, as the investigative team from HMRC may want paperwork and face-to-face meetings to discuss your business taxes.
Anyone can be subject to an HMRC enquiry, and you must comply by law. They can target any business they wish to and do not have to have a reason to target your business, meaning that they can open an enquiry even if you’ve done nothing wrong.
This is troubling for businesses, and especially small businesses. The cost of defending your company in a tax enquiry with HMRC is significant and can easily run into thousands of pounds – in addition, it’s not unusual for enquiries to last months or even years. So you need a good accountant on your side to defend you and ensure no errors are made on your behalf throughout the investigation.
What’s Included In The Tax Enquiry Service?
Warr & Co will deal with all HMRC correspondence on your behalf, we will prepare and defend your case, and we will negotiate the best possible outcome for you wherever necessary.
Did you know? Even if you are not at fault and have had no errors in your business taxes, the costs of defending your business in an HMRC enquiry are not refunded. Unfair, yes, but that’s exactly why this add-on service is highly recommended to all of our business clients.
For one small annual fee, your business is covered in case HMRC decides to open an enquiry for your business. Whatever the outcome, you’re safest if you have our Tax Enquiry Service on your side.
We have plenty of information, including a downloadable leaflet about tax enquiries and pricing for this service, on the link below.