Why use online accountants for small business?
Our online accounting services for small business allows you to focus on running your company whilst we ensure you comply with tax returns and account submissions. Our expert accountants will provide valuable insight into your business.
As a Xero Silver Champion Partner, we’re able to provide exceptional support through the world’s leading online accounting software. With Xero, you’re able to run your business from any device, anywhere, at any time.
Whether you’re a limited company or a sole trader, our accountants will professionally prepare your accounts and tax submissions. But that’s not all. We’ll also support you with information and advice to allow you to make financial investment decisions, understand your profitability and plan for the future.
What should an accountant do for a small business?
We pride ourselves on providing bespoke accounting services to our clients. So whether you need a one-off year-end accounts submission service, or you need more support throughout the year, we can help.
Our small business accounting services include the following:
- Dedicated accountancy team focused on helping grow your business.
- Preparation and submission of annual accounts to Companies House
- Preparation and submission of Corporation Tax returns to HMRC
- Preparation and submission of Directors’ Self Assessments to HMRC
- Monthly, quarterly or annual management reports
- Bookkeeping
- Monthly payroll management
- HMRC Correspondence and Management
Why choose us?
We’re changing the face of accountancy. We combine digital methods and traditional accountancy to provide expert advice and support when you need it.
Top class advice & support
Your dedicated accounting team will advise you on the best way to meet your business financial objectives in the most tax efficient way legislation will allow. Your team will only be a phone call or email away if you have any questions, ideas or just need some accounting advice.
Raise invoices quickly and easily
Easily connect your bank account with our accounting software so you can quickly create and send invoices, set up new customers, manage your expenses and manage payroll.
Complete cash flow control
You’ll quickly get full visibility of your cash flow, what’s coming in and what's going out. You can access this on any device, any time and anywhere you need to. Your team will keep a close eye on this and advice on any potential room for improvement or future issues that could arise.
Accounting minus the stress
No nasty surprises, no extra stress. We can take care of everything. From bookkeeping to tracking your tax liabilities in real-time.
Safe and secure records
You can have complete peace of mind knowing that your accounts are safe and secure and easily accessible at any time.
Profitability recommendations
Once we have completed your accounts your team will set to work on analysing them and provide you with recommendations to help your business operate in the most tax efficient, profitable way possible.
Reduce the chance of penalties
Your team will stay on top of all your deadlines, and with automated email reminders you’ll stay out of the cross hairs of HMRC and any potential penalties. We’ll ensure you never miss a deadline for submitting your accounts and any tax returns.
How much does it cost for an accountant for a small business?
All businesses have different needs. It’s best to get in touch with us for a bespoke quote. We’ll take into account your needs and size of your business to advise on what services you actually need, so we can provide you with the most value for money.
Let's work through a couple pricing examples
You have new start-up, and have put some initial capital into the business to get started. You only have a few transactions each month, and need to make sure your compliant. Expect to pay about £69 + VAT per month.
You have an online business turning over £250,000 per year. You sell through your own Shopify website as well as an online marketplace. You and your business partner pay yourselves through a combination of payroll and dividends. In this scenario you can expect to pay £175 + VAT per month.
Should a small business hire an accountant?
The bespoke nature of our online accounting services means we’re here to provide you with exactly the level of service you need. Whether that be day to day management or a one-off year-end submission.
Hiring an accountant can mean you can focus your attention on making your business flourish while we do the accounts.
Other Accounting Services
Small Business Accountant FAQs
How easy is it to change Accountants?
With our process, very easy! If you choose to switch to us, we’ll manage the process, and give you guidance on any bits you need to do such as allowing us agent access to your HMRC accounts. Therefore, ensuring a seamless transition from your existing accountant to us.
We’ll send a professional request for information to your accountant, ensuring we have all the information we need to deliver our outstanding accounting services.
My business is not local to you. Is this an issue?
This is no issue at all! We’re an online accountant, and we’re able to deliver our service using powerful software and great communication, either on the phone or on video conferencing facilities such as Google Meet or Zoom. So, you’ll still be able to see your accountant, but you’ll benefit from our slightly lower fees.
Why should I choose iFinance Department for my small business accounting needs?
By choosing iFinance Department, you’ll be getting much more than just an Accountant. You’ll be getting a highly experienced financial adviser, who, as well as ensuring your business remains compliant, can spot opportunities and provide advice that can accelerate growth. Just check out what we did for Stitch and Story!
You’ll also benefit from our Silver Champion partner status with Xero, meaning we can provide exceptional accounting software with exceptional support at preferential rates.
Do I need to purchase Software?
We recommend utilising software to manage your business’ accounts, especially as the Government rolls out it’s Make Tax Digital scheme.
As a Xero Silver Champion Partner, we include a subscription to Xero in all of our packages for managing your accounts.
How will outsourcing my Accounting help my business?
As a business owner, you’re a jack of all trades. Ensuring your accounting is in order is critical for long-term business success. We provide you with an up-to-date view of your finances, with running commentary to help support you. By outsourcing your accounting, you’ll have more time to spend actually running your business. Plus, it costs significantly less than hiring someone internally.
How much will bookkeeping cost?
All our service packages include bookkeeping. Our smallest packages start at £29.50 per month; however, we will need to have a discussion to determine the volume of work to give you an accurate price.
Can I get to know you first?
We think it is vital that we get to know each other before we enter into a business relationship. That’s why we offer a free, no obligation consultation to get things off the ground. It is a great opportunity for you to find out more about us, and for us to understand the direction of your business. You can claim your free consultation today!