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Accountancy & Tax in Brighton

Key start-up information and list of local accountants

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Brighton 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 Brighton, 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.

Can you help start-ups in Brighton?

If so, your logo, company details and link to your site could be here!

If you are based in in Brighton or offer a product or service which could help existing local businesses and start-ups, we would love you to help you reach them. Our aim is to increase the chances of every new business's success by highlighting the help that is available in the area.

You are able to add a free listing or act as our recommended local partner for only £10 per year!

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.

Brighton Accountants

FreemanBreckon
Accountants specialising in the self employed, small businesses and start ups
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Cooden Tax Consulting
Many businesses are missing out on money that is owed to them via the governments R&D tax relief scheme this is where Cooden Tax Consulting can help. A Sussex-based consultancy founded in 2013, the company specialises in helping businesses get the full value of their R&D tax relief claim to help transform projects and boost cash flow. Visit the website today to get more information.
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Sussex Chamber of Commerce
Our vision is to support business growth, champion key issues and drive sustainable economic growth in SussexOur team works with businesses from SMEs to multi-nationals to ensure they get access to the best possible business support. Our services can raise your profile, cut your costs and provide links to our close network of influential business leaders. We drive change from the ground up, helping companies, places and people achieve their potential. There are plenty of reasons to being a member.
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Breeze & Associates Ltd
Address: 6 Marlborough Place, Brighton, East Sussex, BN1 1UB, UK In over 30 years we have established a reputation as reliable and forward thinking chartered accountants. If you are looking for a team of reliable, approachable and proactive accountants who will do more than just respond to your needs, who will work alongside you to help you succeed, then you have come to the right place.
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Clearstone Business Services Ltd
Clearstone Business Services provide accountancy and bookkeeping services to small and medium-sized limited companies and partnerships across London and the South East.
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Crunch Accounting
Crunch combines the convenience of an on line accounting system with the professional support of your own dedicated team of accountants and account managers. Its a complete solution that takes the client through every stage, from the formation of their LTD company and the filing of all their VAT returns, annual accounts and corporations tax. Crunch also acts as your registered office. All this for a monthly fixed fee of
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Hilton Sharp & Clarke
Established in 1870 we are the leading independent firm of chartered accountants in Brighton and Hove. This enables us to offer the full range of accounting, audit and taxation services, together with a number of specialist departments serving the differing needs of a wide and varied client base.We also have an office in Billingshurst, West Sussex. We provide a technically advanced outsourced accountancy service, delivering business support services, such as: bookkeeping; payroll; and back office services. Whether your head office is in the UK or overseas, you will find these services an invaluable and highly cost effective alternative to staffing and funding in house equivalents.
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Hilton, Sharp & Clarke
Leading independent firm of chartered accountants in Brighton and Hove, offering the full range of accounting, audit and taxation services, together with specialist departments serving the differing needs of a wide and varied client base.
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JM Bookkeeping Services
Offering a professional, friendly and personal Bookkeeping & Payroll service to small businesses, especially Sole Traders, we cover the whole of Sussex. We offer a service that can be individually tailored to your business needs,
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JM Bookkeeping Services
Offering a professional, friendly and personal service to small businesses, especially Sole Traders, we cover the whole of Sussex. We offer a service that can be tailored to your business needs, from a regular weekly monthly bookkeeping, payroll and final accounts service, to occasional adhoc account preparation for your accountant or bank and everything in between at very competitive prices. We offer hourly fees or a fixed price with regular contact and visits to your businesswork place as required.
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On The Spot Tax Limited
On Site. On time. On Your Side. Tax Accountancy. Working with you face to face to help you understand and optimise the financial side of your business. Service excellence at the heart of everything we do.
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Peters Associates - certified accountants
We are a small, friendly firm of tax accountants based in Brighton with almost 20 years experience providing expert financial and taxation advice to owner managed businesses of all sizes. So whether you are just starting out, or are an established business, we are here to provide the professional support you need to succeed in todays tough economic environment.
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Plummer Parsons
Plummer Parsons is an established chartered accountancy firm based in East Sussex. As well as Brighton we have offices based in Eastbourne, Hailsham and Alfriston. We have many specialisations, such as Charities, Sports, Forensic accounting and Service Charge certification with a wealth of knowledge to support their specific requirements.
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Sue Aitken Accountancy
Providing a bookkeeping, VAT return, Payroll, CIS and tax service to small and medium sized companies including sole traders. Accountant service. Finance Director service. Please see our website for further information and pricing. All our services are tailored to your individual requirements.
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Zantis & Co
Zantis & Co are a Brighton and Hove based Chartered Certified Accountants firm who exist to help small businesses and their owners with all of their financial and taxation challenges.
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Local help for startups

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

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