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Accountancy & Tax in Woking

Key start-up information and list of local accountants

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Woking 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 Woking, 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 Woking?

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

If you are based in in Woking 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.

Woking Accountants

Ascent FD
Ascent FD aims to provide financial direction for small-medium sized businesses in Guildford and the surrounding area. Financial direction is incredibly important for small business, especially in these tough economic times. Here are just a few ways we can help drive your business forward:
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Aurora Tax Services Ltd
If youre in need of accounting or taxation advice please give us a call. It would be our pleasure to apply our experience to your specific situation. At Aurora Tax Services Ltd, we specialise in accounting and taxation services for individuals, small businesses, sole proprietors, trustees and executors. Our services include, but are not limited to: Full Accounting Service Payroll and VAT Returns Income Tax and Capital Gains Tax Planning Inheritance Tax Planning Tax Return Preparation Accountancy and Tax Services for Trusts and Estates
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Aurora Tax Services Ltd
If youre in need of accounting or taxation advice please give us a call. It would be our pleasure to apply our experience to your specific situation. At Aurora Tax Services Ltd, we specialise in accounting and taxation services for individuals, small businesses, sole proprietors, trustees and executors. Penny Cook (nee Bates) is a Chartered Tax Adviser with thirty years experience in the profession and for a short time with HM Revenue and Customs. She was previously the Partner heading Private Client Services with Menzies LLP and regularly contributes articles to the press and BBC Online. She also lectures at conferences and seminars organised by IIR, LexisNexis and STEP and is a consultant editor for Simons Taxes. Aurora Tax Services Ltd is based on the belief that our clients needs are of the utmost importance. We are committed to meeting those needs. As a result, a high percentage of business comes from repeat clients and referrals. We would welcome the opportunity to earn your trust and deliver you one of the best services in the profession.
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Aurora Tax Services Ltd
If youre in need of accounting or taxation advice please give us a call. It would be our pleasure to apply our experience to your specific situation. At Aurora Tax Services Ltd, we specialise in accounting and taxation services for individuals, small businesses, sole proprietors, trustees and executors. Penny Cook (nee Bates) is a Chartered Tax Adviser with thirty years experience in the profession and for a short time with HM Revenue and Customs. She was previously the Partner heading Private Client Services with Menzies LLP and regularly contributes articles to the press and BBC Online. She also lectures at conferences and seminars organised by IIR, LexisNexis and STEP and is a consultant editor for Simons Taxes. Aurora Tax Services Ltd is based on the belief that our clients needs are of the utmost importance. We are committed to meeting those needs. As a result, a high percentage of business comes from repeat clients and referrals. We would welcome the opportunity to earn your trust and deliver you one of the best services in the profession.
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Aurora Tax Services Ltd
If youre in need of accounting or taxation advice please give us a call. It would be our pleasure to apply our experience to your specific situation. At Aurora Tax Services Ltd, we specialise in accounting and taxation services for individuals, small businesses, sole proprietors, trustees and executors. Penny Cook (nee Bates) is a Chartered Tax Adviser with thirty years experience in the profession and for a short time with HM Revenue and Customs. She was previously the Partner heading Private Client Services with Menzies LLP and regularly contributes articles to the press and BBC Online. She also lectures at conferences and seminars organised by IIR, LexisNexis and STEP and is a consultant editor for Simons Taxes. Aurora Tax Services Ltd is based on the belief that our clients needs are of the utmost importance. We are committed to meeting those needs. As a result, a high percentage of business comes from repeat clients and referrals. We would welcome the opportunity to earn your trust and deliver you one of the best services in the profession.
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Aurora Tax Services Ltd
If youre in need of accounting or taxation advice please give us a call. It would be our pleasure to apply our experience to your specific situation. At Aurora Tax Services Ltd, we specialise in accounting and taxation services for individuals, small businesses, sole proprietors, trustees and executors. Our services include, but are not limited to: Full Accounting Service Payroll and VAT Returns Income Tax and Capital Gains Tax Planning Inheritance Tax Planning Tax Return Preparation Accountancy and Tax Services for Trusts and Estates
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Blue Matrix Business Services
Whether you are thinking of starting up a business and need help getting things off the ground, or you already have an established business, we can offer you all the accounting support and advice you need. We offer very competitive rates, with a clear pricing structure so there are no hidden charges. Whether you would like to pay for our services monthly to help with your cash flow or annually for yearly services, we can tailor our services around you. Below is an example of our typical charges: Annual Accounts and Corporation Tax return preparation and submission from
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Blue Matrix Business Services Ltd
Whether you need your self-assessmentpersonal tax return or annual accounts and corporation tax to be prepared and submitted, we can help. With most personal tax returns being
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Cunninghams Accountancy
Payroll, tax returns, sole trader accounts, online filing, property and company accounts and annual returns, competitive fees.
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Cunninghams Accountancy
Tax return completion, payroll, accounts, online filing, company annual returns.
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JAFFERIES Chartered Accountants
We offer a friendly and professional service to all clients and are keen to see our clients develop profitably. We believe in going the extra mile for our clients, i.e. we can arrange to meet on weekends and evenings if required,or help in ways you want us to...just ask us. We can provide fixed fee solutions. Please contact for a free initial consultation.
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JWP Solutions Ltd
JWP Solutions are bookkeepers and management accountants, based in Guildford Surrey, who can be the ideal addition to your company for maintaining your bookkeeping and accountancy records. The key services we provide are bookkeeping, payroll processing, management accounting, VAT returns, Cash Flow Forecasting and Project Management.
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Millmeads Financial Services Limited
Millmeads outsourced credit solutions make a positive impact on business cash flow, helping achieve financial goals as your low cost low risk additional resource partner, offering a flexible and expandable support structure to drive growth.
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Sherwin Currid Accountancy
Accountancy and Taxation services to small businesses, in Guildford and the surrounding areas. Start up businesses and Franchises a speciality. Consultants and Freelancer specialists.
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Local help for startups

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

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