One accountant who knows your whole business
Small business owners often end up with a patchwork of help. A bookkeeper here, a friend who files the VAT, a tax return done in a rush just before the 31/1 deadline. Nobody sees the full picture, so nobody spots that you are paying more tax than you need to, or that you are about to cross the VAT threshold.
We prefer to look after everything in one place. That way the person preparing your year end accounts already knows how your cash flow behaves, what you spent on equipment and what you plan to do next year. Questions get answered quickly because you are not explaining your business from scratch each time.
Our clients include cafe owners on Fulham Road, beauty salons in Parsons Green, consultants working from home in Sands End and online sellers shipping from units in Hammersmith. The details differ, but the need is the same. Accurate numbers, no missed deadlines and advice you can understand.
Sole trader, partnership or limited company
How your business is set up affects how much tax you pay, how much paperwork you have and how exposed you are personally if things go wrong. A sole trader pays income tax and National Insurance on profits through self assessment. A limited company pays corporation tax on its profits, and the owner then takes money out as salary or dividends.
There is no single right answer. A limited company can save tax once profits reach a certain level, but it brings more admin, public filings and stricter rules about taking money out. We run the numbers on your actual figures and explain the trade off in plain words. If incorporating makes sense, we can set the company up and move your business across.
Partnerships sit somewhere in between. Each partner pays tax on their share of the profit through their own self assessment, and the partnership files its own return as well. A written partnership agreement setting out how profits are shared, and what happens if someone leaves, saves a lot of argument later. We often see two friends open a business together near Fulham Broadway with nothing on paper, and it is far easier to fix that at the start.
What is included
- Year end accounts for sole traders, partnerships and companies
- Self assessment returns for owners and partners
- Corporation tax returns for limited companies
- VAT registration and returns
- Making Tax Digital quarterly updates
- Bookkeeping support and software setup
- Advice on business structure
- Help with HMRC letters and queries
Deadlines that matter for small businesses
Which dates apply depends on your structure. These are the ones we track for most of our small business clients.
- Self assessment returns and tax due for sole traders and partners: 31/1 after the tax year ends on 5/4
- Second payment on account for sole traders: 31/7
- Company accounts at Companies House: 9 months after the company year end
- Corporation tax payment: 9 months and 1 day after the company year end
- VAT returns, if registered: usually one month and seven days after each quarter
Making Tax Digital is changing the routine
Sole traders and landlords with qualifying income over £50,000 have had to follow Making Tax Digital for Income Tax since 6/4/2026. That means keeping digital records and sending quarterly updates to HMRC through compatible software. The threshold falls to £30,000 from 6/4/2027 and to £20,000 from 6/4/2028.
Qualifying income here means your gross turnover from self employment and property added together, before expenses. A busy hairdresser or decorator can pass the line even if their profit is modest. We check whether you are in scope, help you choose software and can submit the quarterly updates for you.
Mistakes we often see
Most small business tax problems are not dramatic. They are small habits that add up over a few years.
- Mixing personal and business spending in one bank account
- Not keeping receipts for cash purchases
- Forgetting to put money aside for the tax bill and payments on account
- Missing allowable costs such as use of home, mileage or professional subscriptions
- Not watching turnover and registering for VAT late
Getting started with us
Send us an enquiry with a few lines about your business. We arrange a free review, look at your current setup and any recent returns, and tell you what needs doing. You then get a fixed fee, agreed before any work starts.
If you are switching from another accountant, we contact them for the records we need, so you do not have to have an awkward conversation. To speed things up, have your last accounts or tax return, your HMRC Unique Taxpayer Reference and access to your bank or bookkeeping software to hand.
Who this suits
- Sole traders who have outgrown doing it themselves
- Shops, cafes and salons around Fulham Road and New Kings Road
- Small partnerships sharing profits between two or three people
- Owners thinking about turning their business into a limited company
- Growing firms getting close to the VAT threshold
Common questions
Do I need an accountant as a small business?
There is no legal requirement, and some very small sole traders manage alone. Most owners find that an accountant pays for their time by catching allowable costs, avoiding penalties and planning ahead for tax bills. It also frees you up to run the business.
When should a sole trader become a limited company?
There is no fixed profit level that suits everyone. It depends on how much profit you make, how much you need to draw out to live on and whether you value limited liability. We work through the figures with you before you decide.
When do I have to register for VAT?
You must register if your taxable turnover goes over £90,000 in any rolling 12 month period, not just the tax year. You can also register voluntarily below that level, which sometimes makes sense if your customers are VAT registered businesses.
What expenses can a small business claim?
You can claim costs that are wholly and exclusively for the business, such as stock, tools, software, insurance, travel to clients and a share of home running costs if you work from home. Entertaining clients is not allowable. We go through your costs to make sure nothing is missed.
Can you help if my books are a mess?
Yes. Many clients come to us with a shoebox of receipts or a year of unreconciled bank transactions. We sort the records first, then prepare the accounts, and set up a simpler system so it does not happen again.
Do you meet clients in person in Fulham?
Yes, meetings can be arranged locally in Fulham, or by video if that suits you better. Plenty of clients in Putney and Chelsea are happy to do everything online and only meet once a year.
What records does a small business need to keep?
Keep records of all sales and income, all business costs with receipts or invoices, bank statements and any money you put in or take out. HMRC can ask to see them, so sole traders should keep them for at least five years after the 31/1 filing deadline, and companies for six years. Digital records in bookkeeping software make this much easier.