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
Lambeth, 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
Running a business is both exciting and challenging. Your journey to success won’t be in a straight line. At times there will be diversions and bumps in the road.
Supporting businesses of all sizes is what we do. With a helping hand from us you will achieve success. We love working with small to medium-sized businesses (SMEs) who are looking to grow.
We’ll help you deal with the demands you will have to face and help guide you on the right track.
- Know how much profit you’re making?
- Make more money?
- Manage your cashflow better?
- Make your business dream come true?
Then we’re the accountants for you.
Contact us and arrange a relaxed, no-obligation chat 0116 2247122
Save time, money and stress- Call us today
Pro Active Resolutions
0116 224 71222
Free Friendly Advice
If you would like some free friendly advice from a trusted local partner relating to any accountancy or tax matter, please complete and submit this form. There will not be any pressure nor will you be under any obligation to buy paid services.
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Free Accounting Resources
The following items are in our FREE start-up pack and can be download individually or as part of the whole pack.
Please note that one-time registration is required to unlock all of the free items on this site.
Personal Survival Budget
This template will help you to identify how much profit your business needs to make to cover your own personal outgoings.
An easy to use template. Instructions are included - just input your figures and the spreadsheet will perform all of the calculations for you.
Business Plan Template
One of the most important steps but is often ignored. This document will provide you with a clear road-map for your business.
If you run your own business in
and would like to learn more about
accounts, bookkeeping, National Insurance, or VAT, we have compiled a library of useful resources and frequently asked questions which we hope that you will find both interesting and useful.
Main Accounting Considerations
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.
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
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.
Self-employed National Insurance rates
for full details.
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.
- 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.
Business records if you're self-employed
for full details.
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
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
official VAT website
for full up to date details.
If you can help new business start ups or existing small businesses in the
area, we would love to promote you here free of charge. (Add Your Business)
We are a specialist CIMA qualified accountancy practice offering tailored accounting solutions to contractors, freelancers and small businesses.
We also provide corporate and personal tax management solutions, tailored to individual needs.
Our focus is on making sure businesses comply with regulation through ethical and proactive decision making, using communication that both cuts the complication and increases your profits.
Euro Accounting Ltd is an independent and modern accountancy practice offering a full range of accountancy, taxation, payroll and audit services to customers throughout the UK to small and multi-million pound businesses. We speak 6 languages.
We also provide a unique and bespoke service by assisting our clients with business development.
In addition, we help businesses increase their profits by finding them new clients or suppliers which will help them develop their businesses. All these services are completely FREE.
We prepare Corporation tax or Income Tax from
Our services are best utilised when starting a business as we can advise on running your company in a tax efficient manner. We can spread our fees on a monthly basis helping your cash flow. Please call for a free consultation.
Arnold Hill & Co LLP, based close to Trafalgar Square in Londons West End, is a firm of accountants that offer a range of personalised accountancy services. Clients range from international companies, to family trusts and charitable foundations to small businesses. Services include personal taxation, bookkeeping, payroll, business consultancy and inheritence tax planning.
Bambridge Accountants has many years of accounting and tax experience, and provides accountancy and tax services to clients throughout the local area. The practice is situated in Mayfair, in central London. The practice delivers comprehensive accountancy and tax advice to businesses, which is professional and reliable for all clients. With a private office, the business also has friendly staff helping clients with their businesses. Bambridge Accountants has a wide group of customers, based throughout London, including private clients, sole traders and companies.
Ensors is one of Londons leading firms of independent chartered accountants and business advisors. Combining expertise and professionalism with a friendly, straightforward approach, the team at Ensors provide a comprehensive range of services for businesses and individuals
Friendly, understandable advice for new businesses with help with tax, accounting and payroll.nlet us help you start your business properly without losing focus on the important business of getting sales.
Are you under investigation by HMRC for tax evasion or tax avoidance? Our tax enquiry experts can help you resolve your tax enquiry. Speak to us today for a stress-free solution.
MDP Accountancy Services, based in Liverpool St. provide specialist accounting services to New Start-ups, Freelance contractors, Medical professionals and SMEs. With our vast experience in accounting we understand that one size does not fit all. With fixed rate packages for those new to contracting and bespoke services to businesses and individuals with more complex needs, MDP Accountancy Services will take the worry out of your accounting responsibilities.
We a lively forward-thinking firm of Accountants, Business advisor and Tax consultants . We servicing clients from different industry sectors. We work with business start ups and guide them on their business moves. We offer free advices to start up businesses.
We offer both compliance and advisory services and we are very keen to help small local businesses.
We also act for private individuals and sole traders and have specific expertise locally in the Charities, Healthcare, Professional services and Technology & Digital Media sectors.
Our services include auditing, bookkeeping, business strategy, business systems and Sage installations and support, employer and payroll solutions, financial services, forensic accounting, insolvency and recovery services, tax and VAT compliance and advice and trust and fiduciary services.
Self Assessments. Annual Accounts. Tax Returns. VAT returns. Bookkeeping. Payroll
Based in Whitechapel, East London, Taj Accountants has many years of experience in the accounting and taxation industry. The company offers a range of accountancy services, and provides tax services and advice, cheap accounting services, cheap payroll, cheap tax return, cheap accounts for self-employed and cheap accounts for limited companies to clients throughout London. The company is located in Whitechapel, E1, East London (London).
The firm aims to supply businesses with a professional accountancy services and has on-site facilities. The expert staff help clients increase the revenue. The service is intended to be cost effective every time.
With a staff body of few fully qualified accountants, Taj Accountants has a professional team, qualified to a high standard.
With offices in London and Geneva, we are a firm of US and UK tax advisors who specialise in assisting Americans living abroad, plus other overseas nationals with non-dom status in the UK. We can look after your US and UK tax affairs, and those of your businesses, to ensure a coordinated approach to your tax compliance and advisory needs. We work with individuals living and working in the UK, Switzerland and the US. We also specialise in assisting those running entrepreneurial businesses and are experienced in assisting US owned asset managers operating in Europe.