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Accountancy & Tax in Berkshire

Key start-up information and list of local accountants

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Berkshire Business Category

Berkshire Accountants

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Having a good firm of accountants on your side will ensure that you have all the information and support that you need to help your business grow and flourish.

They can offer advice and help you comply with accounting and tax requirements.

If you are self employed or run a small enterprise in Berkshire, it makes sense to use an Accountant or Bookkeeper who is keen to help small business and new business start ups rather than struggle with the task yourself.

Recommended Local Partner

KAR Accountancy & Business Solutions

A small personable Chartered Accountancy practice specialising in start-ups and small businesses.

Annual accounts, tax planning and compliance, payroll and VAT are among some of the core services we offer together with pro-active business support and advice.
Free initial consultation

Mobile icon 01183485180

Local partners

We are happy to promote anyone who is prepared to offer friendly support to local start-ups.

Our local partners have been kind enough to help us and are keen to help you too.

Main Accounting Considerations

Sole Trader or Limited Company

One of the first decisions you will need to make is which legal structure is likely to suit your new business and this will affect your accountancy obligations.

You can read a detailed article about your various options at: Sole Trader or Limited Company?

The information below primarily relates to self-employment but if you decide to trade as a limited company, you can read more here: Running a Limited Company.

Becoming Self-Employed

You should tell HMRC as soon as you start self-employment, otherwise you may face a penalty. You are considered to have started self-employment when you have something to sell and either have a customer for your goods or services, or you are actively marketing your business.

You can let HMRC know about your self-employment by registering online for business taxes. A Self-Assessment Online account will automatically be set up at the same time. This allows you to send your Self-Assessment tax returns online. You will receive an Activation Code. You need to activate the service within 28 days. If you don’t, you will have to ask for a new Activation Code.

You can register online at

National Insurance

As a self-employed person, you pay a fixed amount of Class 2 National Insurance contributions (NIC). If your profits are above a certain limit, you may also have to pay Class 4 National Insurance contributions.

See Self-employed National Insurance rates for full details.

Statutory Records

It is very important that you set up a record keeping system and keep all records and supporting documents. Records for the current tax year must be retained until 31 January 2022.

You must keep records of all money coming into and going out of your business. This includes all cash, cheques and credit card transactions.

Your records should be adequate to allow you to complete an accurate Self Assessment return. You will be expected to keep a full record of:

  • All sales made and other business income, as it is earned.
  • The cost of all business expenses and purchases as you pay them, no matter how little they cost.
  • All purchases of business stock, goods and raw materials.
  • Mileage records.
  • Capital expenditure; keep a separate record of all purchases and sales of business equipment, machinery and vehicles, together with the receipts.
  • Keep a record of the market value of equipment or vehicles introduced into the business that you owned before starting your business.

See Business records if you're self-employed for full details.

Key Dates

There are key dates that you need to be aware of during the financial year. These relate to reporting and payment of any monies due. A list of dates and full explanation can be found here.

Value Added Tax (VAT)

You must register for VAT if:

  • Your taxable turnover exceeds the VAT threshold in any 12 month period
  • you expect your taxable turnover to exceed the VAT threshold within the next 30 days
  • you take over an existing VAT registered business as a going concern

You have 30 days from the date you meet any of these criteria to register.

Usually, VAT registration can be completed online and if you apply online, you will be enrolled automatically so that you can submit your VAT return online (there is no longer a paper version).

The current VAT threshold is £85,000; if your turnover is below the registration limit, you can choose whether to apply for voluntary registration. The standard rate of VAT currently is 20%.

See the official VAT website for full up to date details.

Berkshire Accountants

Greenhow & Co
Chartered Accountants and Tax Advisors
Monty Accounting Solutions
Were a small firm of chartered accountants who love working with new businesses. You need support and you need everything to work so you can get on with your business and were perfectly placed to help you. We have all spent time working in business and industry (not just sat in an accounts office) so we understand how the numbers work in the real world.
Apex Accountancy
Providing accounting services and financial advice in the Reading area. Apex accountancy can aid business start up for small businesses, advising on long term goal setting and forecasting, monitoring performance and handling tax returns. Please visit our website for news resources and full information.
Edmonds Accountancy
Edmonds Accountancy is located in Reading. Areas of expertise include: Individual, Sole Trader and Small Business Accounts; Management Accountancy; Tax and Tax planning; Compliance work; Business Consultancy and Solutions; I.T Consultancy and Solutions.
Peter Hillier ACMA
Offers a complete and cost effective service for all traders and companies: VAT, Payroll, Self-Assessment, Management Accounting, Business Start Ups. Based in Windsor.
Rosemary Bookkeeping Bracknell
Rosemary Bookkeeping offers outsourced bookkeeping services to small businesses and accountants. We do monthly Sage reports and VAT returns. First three months free for new business start ups.
Thames Bridge Accountants
We are a small dynamic practise, providing personal and responsive support to owner managed businesses. Free initial consultations and advice, can then be followed up with day to day administration, bookkeeping, and payroll support, annual tax returns, and more complex tasks such as tax structuring, and business planning.

Local help for startups

There is plenty of help for startups in Berkshire but where can it be found?

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