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Chartered Management Accountants

A small firm based just North of Gloucester, with over 30 years of experience across Payroll, Self Assessment, Sole Trader Accounts, Bookkeeping, Corporation Tax, Company Accounts and Company Formation.

Accreditations to support your business

You can find us in the CIMA Members Directory here.

Service
Areas

It's worth noting that we do not offer services around audits, foreign income, trusts, inheritance or crypto currency.

BOOKKEEPING

This is the first step in ensuring the efficient capture of all incoming and outgoing business transactions and is vital in obtaining a thorough understanding of business performance. We use a variety of accounting software packages including QuickBooks, Xero and FreeAgent.

SOLE TRADER ACCOUNTS

If you’re starting out in a new business venture and your income received is greater than £1,000, you’ll need to set yourself up as a “Sole Trader” for tax purposes. Rest assured you can go on to employ any number of people, the term ‘Sole Trader’ just means that you are taxed under the Self-Assessment system, rather than the formal establishment of a limited company.

COMPANY ACCOUNTS

We specialise in preparing accounts for small companies falling under FRS 105 guidelines. These guidelines dictate less disclosures with a more simplified approach being taken, thus reducing the cost to the company concerned. Accounts for an incorporated entity are due to be filed at Companies house nine months after the year end date.

PAYROLL

In addition to the processing of payroll information in terms of the transfer of monies from the business to an individual for services/labour rendered, there is a legal requirement to record all payments, ensuring the correct processing of Income Tax, National Insurance and Pensions.

SELF-ASSESSMENT

Those who become self-employed and are classed as Sole Traders are required to follow the rules of Self Assessment. Self Assessment involves calculating profit by taking your total business income, less associated expenditure. It is this net result that is used to determine the tax and National Insurance contributions you must pay. Visit our page dedicated to Self Assessment or get in touch for more information.

CORPORATION TAX

Corporation Tax is prepared following the preparation of company accounts. Corporation Tax looks at a company’s various income streams and forms of expenditure and produces a tax liability. This is due to be paid nine months and one day after the end of the accounting period.

COMPANY FORMATION

We can assist with company formation, including checking for suitable names, registering the company, registration of intent to trade for Corporation Tax purposes, application for Payroll and even VAT, should there be a need for this. For more information about forming a company and the pros and cons to this, visit our Limited Companies page.

 

We can assist in all matters MTD (Making Tax Digital). This includes both the current VAT requirement and the upcoming Income Tax Self-Assessment requirements.

We offer fee protection insurance which is designed to protect companies, for a one-off annual payment, against the cost of any HMRC inspection.

INSURANCES

Relevant Life Insurance

As an alternative method of death-in-service benefit, relevant life insurance is often used instead of a group life scheme to ensure an employee’s family and loved ones are cared for financially following an employee’s death.

The most significant benefit of relevant life insurance policies are the tax savings. As the premiums are not treated as a P11D benefit, there are no Benefit-in-Kind implications. Both the employee and employer will not have to pay National Insurance Contributions for this life insurance policy. Furthermore, under current UK tax rules, a relevant life plan will not usually impact the employee’s Pensions Lifetime Allowance. And, in the event of a claim, the payout is typically free from income, inheritance, and capital gains tax. This is based on our understanding of current legislation and HMRC practice, which can change. 

Income Protection Insurance

For small businesses, the costs of covering financial responsibilities while your employee is unable to work due to illness or injury can be high. That's where Income Protection comes in. Coverage with income protection can ensure employees still receive a portion of their sick pay or income without the significant financial impact on the business itself. 

You receive the same tax savings as listed above, however when the employee receives their sick pay from the employer, their normal tax treatment will still be applicable.

Critical Illness Cover

One in five of us will suffer a critical illness and most of us think that the good health we enjoy now will stay with us forever. Unfortunately, statistics indicate that one in five males and one in six females will suffer a serious medical complaint at some stage in their life.

Critical Illness Cover is designed to pay a lump sum once you are diagnosed with a Critical Illness allowing you have financial peace of mind whilst focusing on getting back to full health. For contractors, this is welcome news as some bespoke insurance products are tax deductible and so you save on Corporation Tax.

Fee Protection Insurance

This insurance protects companies against the cost of any HMRC inspection, for a one-off annual fee.

If you would like to discuss insurance, please mention this within your message when filling out our contact form or mention it when calling us so we can provide you with more information.

Client Testimonials

Ian was brilliant, he explained all queries about my tax return in a way I could understand. He responded really quickly and I’m definitely using him next year.

Chantal

Started looking for help, Ian reached out very responsive, very professional and within a few days advised me and effectively took me on board as a sole trader. Definitely recommend.

Samuel

Quick and professional service. Ian is the best in his job and very knowledgeable.

Isik

View all testimonials here.

Contact
Original 
Accountancy

OUR ADDRESS

3 The Tulworths, Longlevens, Gloucester, GL2 9RS

Email: ian@originalaccountancy.co.uk

Tel:  01452 471 041

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OUR OPERATING HOURS

Monday           08:30 - 17:00

Tuesday           08:30 - 17:00

Wednesday     08:30 - 17:00

Thursday         08:30 - 17:00

Friday               08:30 - 17:00

(Excluding bank holidays)

We conduct business via email and video conferencing, so although we are based in the Gloucestershire area we do offer our services Nationwide. If you would like to schedule a video meeting with us, click on the Calendly icon above.

You can view our Bark profile here along with our reviews and connect with us on LinkedIn.

For any general enquiries, please fill in the following contact form:

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