Self Employment Services - https://www.ruthelliottandco.co.uk

Business services for the Self-Employed

We provide a range of different services for the self-employed, trading ether as a Sole trader or through a Partnership structure.

Some businesses may only require year end accounts and tax work, others may require the whole package with ongoing business support.

Most services we provide are priced according to the size of the business. The typical fees charged are set out below. More details on what is included in each service provision, further down the page. We also provide a payroll service.

Fees for year end work are charged on an annual basis, but if ongoing support through the year is required, for book keeping, QuickBooks, VAT work, or payroll then the fees are charged monthly.

Please contact us to get a bespoke quote for your business

Annual Accounts Service

For business owners who just require accounts and tax return at year-end

From £440

Year-end Accounts (Either P&L only or full accounts)
Personal Tax return
Advice on expenses that can be claimed
Advice on other relevant tax issues such as pension tax relief

Compliance Package

Suitable for smaller businesses, wanting a bookkeeping subscription and support through the year.

From £76 per month

Year-end Accounts
Tax returns
Quickbooks bookkeeping subscription
Support for routine business queries through the year

Business Package

Suitable for larger business with more accountancy requirements such as payroll and VAT returns. Further staff can be added to payroll as required. Other services such as CIS or P11D’s can also be added to the package

From £145 per month

Year-end Accounts
Personal Tax return
Quickbooks bookkeeping Subscription
Quarterly VAT returns
Payroll for 2 staff
Support for routine business queries through the year
Annual meeting to discuss business, financial position and future goals.

Further details of Services

Payroll

Base Cost: £20 per payrun

Each employee: £5 per month.

Auto-enrolement/pension contribution: £5 per employee per month

We can also assist with CIS and Benefit in kind returns.

Accounts

The accounts work includes;

finalising the accounts from your book keeping records,
posting year end journals,
Reconciling cash and bank balances
Reviewing stock, debtors, creditors balances
Drafting the formal accounts for approval.
A final check of the numbers.

We will also provide advice at the time we complete the accounts on book keeping issues, expenses that can be claimed, and any other factors relevant to the accounts.

Business Support

This service covers support for routine queries by telephone or email through the year. We will assist with book keeping queries, advise on accounts issues, advise on expenses that can be claimed, and assistance with other business or basic tax issues that crop up through the year.

Tax support and your self-assessment tax return

We will advise you on your personal tax and prepare your tax return. The finalised accounts figures will be imported into your tax return. We will look at treatment of losses, capital allowances. and advise other personal tax issues relevant to income tax and your business.

We calculate the tax due and inform you of the amount and payment dates.

We can be appointed as your agent to speak to HR on your behalf.

Basic rate tax returns fees are from £250,

Other tax queries or issues that arise such as capital gains tax, or extra sections in the tax return, will be quoted for and charged for separately on case by case basis.

Partnership tax returns start from £240 in addition to the personal tax return fees.

VAT

Businesses with turnover below the VAT threshold don’t have to register for VAT, but may choose to do so voluntarily. The turnover threshold is currently £85,000, based on the latest rolling 12 month period.

The VAT service includes, a quarterly review of the accounts, advice on VAT issues, a review of the VAT return, notification of amount due, and submission of the return to HMRC.

QuickBooks Subscription

We can provide a Quick books subscription. Prices start from £12 per month. Please contact us for more information. If support is required with using Quickbooks, this will be added on to the service package.