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Accountancy & Tax in Birmingham

Key start-up information and list of local accountants

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Birmingham 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 Birmingham, 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

Pro Active Resolutions

Pro Active Resolutions

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.

Want to:

- 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

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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 https://www.gov.uk/log-in-register-hmrc-online-services/register

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.

Birmingham Accountants

Jerroms Accountants and Business Advisors
Business advisers and accountants in Solihull & Bromsgrove . There are a million things to think about when starting a new business so anything that can be delegated to people who can help is a must! For those who have never been self-employed before, there’s so much to consider - deciding on the most appropriate business structure to use (sole trader, partnership or limited company), registering for self-assessment, taking on employees (that means running wages and arranging a pension scheme) - and then of course there’s things like renting premises, having insurance, raising finance or applying for an overdraft facility. It can be overwhelming - but we’re here to help you every step of the way. And once the business is set up, we can support you on an ongoing basis with your accounts and corporation tax returns, cashflow, forecasting, growing your business or anything else. Founded in 1972, we have grown steadily over the years to become a leading accountancy and business advisory practice in the region with around 100 employees. We work with over 3,000 individuals and businesses across a range of sectors, who stay in a long-term relationship with us because they trust us to give them the best advice. Our pragmatic approach and extensive skills base means we can help and advise businesses of any size or industry, but we do have particular expertise in the education, healthcare, legal, financial services and construction sectors. No matter what size, our clients really appreciate our support, the freshness of mind and specialist perspective that we bring. Every member of our team has their own distinct strengths and plays an important part in making a difference and help clients succeed in reaching their goals. Please get in touch if you want to talk more about how we can help you. We offer an initial consultation free of charge which gives us the chance to meet and discuss your needs, with no obligation.
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Gondal Accountancy
Accountancy Firm based in Birmingham helping businesses with their accounting and taxation needs. We are a tech-driven accounting firm in Birmingham with a focus on bringing value added services to our clients and supporting them make critical decisions which leads to their business growing. We are one of the best accountants in Birmingham providing accounting services to various industries throughout the UK including Small businesses, Sole traders, Landlords and Contractors. Our Mission is to bring stress free accounting services to business owners to focus on their business and help to make decisions and growing their business.
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TaxAssist Accountants
We take care of the time consuming paperwork and tax filing requirements so our clients can focus on their business. We also offer access to a whole range of financial and other services tailored specifically for the small business owner and Individuals needing to file tax returns or tax advice. Our clients tell us we are different from other Accountants and earn their trust by: 1. Providing fixed fees agreed in advance, so there are no nasty surprises 2. Meeting clients at a time and place of their convenience 3. Being proactive in looking for tax saving opportunities 4. Offering easy payment options to ease cash-flow We take pride in getting to know our clients and offer a complimentary initial consultation
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Pointon Young Chartered Accountants
Pointon Young has a growing reputation as one of the regions most effective accountancy firms for individual clients and businesses.
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Accountants in Birmingham
Gondal Accountancy has teams of expert accountants in Birmingham who can help you with every financial aspect of the business, including but not limited to taxes, bookkeeping, payroll & pensions. Our trusted and reliable teams combine their technological expertise and knowledge to bring you the most reliable, efficient solutions at market-competitive rates.You could be running a start-up or an established multinational corporation; no business is too big or too small for our team. We treat each case with the same commitment and meticulous attention to detail.So if youre on the lookout for the best accountants in Birmingham, Gondal Accountancy is a name you can trust.
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Xero Accountants
We pride ourselves on offering our customers expert accounting services. We help with taking the pain out of accounting [dental accountants, property accountant, retail accountants, amazon seller accounting ,ecommerce accountants, and hospitality accountants] and making accounts a real added value to your businesses decision-making process.
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Gondal Accountancy
Accountancy Firm based in Birmingham helping businesses with their accounting and taxation needs.We are a tech-driven accounting firm in Birmingham with a focus on bringing value added services to our clients and supporting them make critical decisions that lead to their business growth. We are one of the best accountants in Birmingham providing accounting services to various industries throughout the UK including Small businesses, Sole traders, Landlords and Contractors.Our Mission is to bring stress free accountancy services to business owners, so they can focus on their business growth.
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Tax Care Certified Accountants
Tax Care Accountant is an award-winning accounting firm specialised in SME accounting and contractor accounting. We started from very small but we are growing very fast due to our core activities of excellent customer service, professional accountancy and dedicated business support. We connect small businesses with big technology and we try to stay one step ahead of a typical accountant with our skills, knowledge, and technology. Our clients trust us, that’s why we get new clients though recommendations from our existing clients. Our efficient tax management tools will make sure your tax return is prepared and submitted on time. We also send your reminders prior to any deadlines to avoid any surprising penalties from HMRC or pension regulators.
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Certax Accounting (Birmingham North & Sandwell) Limited
Our Accountants have over 10 years experience working with large financial Plcs, charities and in practice. Their philosophy is you are never too big or too small and are committed to providing a tailored and cost effective high quality accountancy and tax advisory services to all local businesses, whether trading as sole traders, partnerships or limited companies, including start-ups. They have an in depth knowledge in all aspects of the accountancy profession and understand business needs and what drives sustainability and growth. They have worked closely with different functional areas in different organisations, providing advice and guidance from a financial perspective and finding ways of streamlining processes and improving efficiencies which in turn improves profitability. They always seek to ensure tax is minimised within current legislation and guarantee a friendly, cost-effective, professional service whilst ensuring that important deadlines are met. We offer a full range of services including: Self Assessment Tax Payroll and V.A.T returns Accounts for Soletraders, Partnerships and Limited Companies Personal and Business Taxation Planning Company Formation and related secretarial work Corporation Tax compliance and planning Inheritance tax planning Representation in the event of inland Revenue V.A.TP.A.Y.E enquiries Periodic management accounts and reporting Introduction to independent financial advice Financial Projections Accounting for Charities
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Naseems Accountants
Naseems accountants provide best accounting services, bookkeeping services for small business. We are best accountants in Birmingham and all over UK.
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Cleres Limited
Clere
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U-Tax Limited
U-Tax is one of the UKs leading tax agents based in the West Midlands. We hold over 70 years experience in accountancy, and tax and financial planning, and will not be beaten on price or service! We are dedicated to helping small to medium sized businesses, limited companies and individuals with their tax and accountancy needs. Our aim is for you to develop confidence and trust in our business and services, whilst offering you real cost-saving benefits. U-Tax can complete your Self Assessment for as little as
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Naseems Accountants
Naseems accountants provide the best accounting services, bookkeeping services for small businesses. We are the best accountants in Birmingham and all over the UK. If you are a business owner and looking for bookkeeping services or QuickBooks services we provide reliable and quality services in these areas.
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Birmingham City Business School
Offer a wide range of undergraduate, postgraduate and professional body courses in the following subject areas: Accountancy, Advertising, Audit, Business, Business Law, Economics, Finance, Human Resource Management. Management, Marketing and Public Relations. Birmingham City University, City North Campus, Birmingham, West Midlands, B42 2S
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Blossom Stream Limited
A firm of Chartered Certified Accountants and Business Advisors that specialise in helping you grow your business, save money and tax. Based in Birmingham they offer a diverse range of business support services including accountancy, taxation, business development and ecommerce strategy.
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Certax Accounting (Birmingham South) Limited
Accounting and taxation services for SMEs, customised personal service, fixed annual fees
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Computatech Support
IT Support Wolverhampton, Birmingham, Midlands, UK Computatech IT support and services provided to companies in Birmingham and across the Midlands. IT Support contracts typically from £85 per month for telephone support for businesses customers located across the Midlands. Our customers include Solicitors , Accountancy firms and Manufacturing companies. we work with many different clients, and of course each customer has unique requirements. However, there are common factors within the markets our clients occupy, and we are confident that our sector-specific expertise will help us to provide the best IT support services for your business, fully meeting your businesses individual & specific needs. Speak to someone that understands your industry and its specific IT needs. Members of Wolverhampton IT Support Directory Why Computatech? We are a local company based in Wolverhampton and support companies across the Midlands, In addition to the Midlands region, we do cover other areas that sit outside of this geographical catchment area. We have IT Support customers as far north as Manchester and Oldham. Our support service agreements start from £85 per month for telephone only support. If you need a total package then we can offer on site support with a service level agreement (SLA) providing a 4 hour fix or loan you a server in the event of hardware failure.
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Gaffney Accounting Ltd
A local Accountant for small to medium sized businesss. If youre looking for an accountant for some free, friendly advice. give us a call.
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Gondal Accountancy
Gondal Accountancy has teams of expert accountants in Birmingham who can help you with every financial aspect of the business, including but not limited to tax services, bookkeeping, payroll & pensions. Our trusted and reliable teams combine their technological expertise and knowledge to bring you the most reliable, efficient solutions at market-competitive rates. You could be running a start-up or an established multinational corporation; no business is too big or too small for our team. We treat each case with the same commitment and meticulous attention to detail. So if youre on the lookout for the best Birmingham accountants, Gondal Accountancy is a name you can trust.
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Insight Accountants
We are experienced accountants and business experts with entrepreneurial flair. We have over 10 years of experience providing accounting services to small to medium sized enterprises across the UK. As well as providing the core accounting and tax services, we pride ourselves in providing the tools and advice to help your business grow and prosper.
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Kms Accountancy & Business Solutions Ltd
Kms Accountancy have a wide range of clients to their portfolio ranging from Sole Traders and Limited Companies to CIS Contractors. We are experienced in all accountancy and tax issues and offer a quick turnaround of work. With a free 1 hour* consultation, we will get to know where your business is at present and offer valuable advice going forward, so you have nothing to lose. Also with no VAT added, the price we give you is the price you pay. See our 60 second video on our website at www.kmsaccountancy.com for additional information. Our staff will give you a courtesy call to introduce ourselves and arrange an appointment at your convenience. To contact us call 0121 246 5552 or 07528 452 625 or email us at info@kmsaccountancy.com We look forward to hearing and working with you. Kms Accountancy.
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Midlands Industrial Association Limited
We have workspace available to rent on an easy-in, easy-out monthly licence agreement. With on site car parking and inclusive of service charge.
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R R Accountants LTD
R R Accountants LTD panel of accountants offers a wide range of services whether youre a small business, partnership, sole trader or a limited company. R R Accountants panel of accountants offers Services are; Taxation advice, VATAnnual returns, Payroll Services, Bookkeeping Services, Sage accounting, UK Film Tax Relief,Personal taxation, Business start ups, VAT Services - VAT registration, Return, Investigation,Self assessment and more...
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Rosemary Bookkeeping
Offering a complete bookkeeping service to businesses in Sutton Coldfield, Erdington, Walmley, Castle Bromwich, Stechford Heath, Kingsbury and surrounding areas. We concentrate on your books so that you can concentrate on your business! We can carry out a FREE health check on your companys books and let you know how using a Rosemary bookkeeper can help you with your business. Following on from this a FREE quotation can be arranged allowing clients to see how our unique invoicing system of charging by the transaction rather than by the hour can be of benefit. Before undertaking any work we take the time to get to know each business that we work with. It is important to us that we understand your individual needs and expectations so that we can tailor our product to your exact requirements. We can provide monthly reports enabling you to see exactly how your business is performing at any given time. In addition, we can prepare VAT returns and provide your accountant with all they need to finalise your end of year reports.
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RR Accounting Solutions
Qualified & Experienced Accountants For All Your Accountancy Needs. (We also advise and make accounts for Tier 1 (HSMP) and immigration purpose . We already have number of successful cases since changes in July 2010. Call for free initial consultation and to book an appointment. We oonly charge
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Sumik Ventures Limited
Sumik Ventures Limited is a long established provider of advice and assistance to Small and Medium sized Enterprises. We have 40 years expertise in accountancy, tax, VAT and payroll services and can assist with start ups, conversion to limited companies and the formation of partnerships. We offer very competitive rates and have qualified staff to deal with your enquiries.
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Sumik Ventures Limited
Sumik Ventures Limited is a long established provider of advice and assistance to Small and Medium sized Enterprises. We have 40 years expertise in accountancy, tax, VAT and payroll services and can assist with start ups, conversion to limited companies and the formation of partnerships. We offer very competitive rates and have qualified staff to deal with your enquiries.
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The Accountancy Solutions
A dedicated accountancy firm established for over a decade, we understand the individual needs of each client and work closely with them to develop a personal plan. You are never just a number to us and we pride ourselves on our bespoke services that make us stand out from the crowd. Professional to the core, our independent practice has experienced a steady growth since it was founded, with the competent team behind The Accountancy Solutions working with state of the art and innovative computer systems that the company has consciously made an investment in. We know that business accounts can be daunting for the untrained professional, which is why we not only maintain your books but also explain to you what we are doing every step of the way as we believe that everybody should understand what is going on with their hard earned cash. Services that we cover include everything from business start-ups to business support, tax services to corporate finance. We also specialise in technology and media accountants, healthcare, charity accountants and much more.
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The Accountancy Solutions
The Accountancy Solutions is a forward-thinking firm of Certified Accountants Tax Advisers based in London and Birmingham for business and personal tax clients, who expect the highest level of service.
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