Monika Udala’s achievement

“On Sunday 10th April the Sunday Times published their first supplement listing the Top 200 Accountants in the UK based on reviews on the independent consumer ratings website VouchedFor.co.uk. We are proud, but not at all surprised, to say that Monika Udala was featured.

To be included Monika was highly recommended by 15 of her clients. All had rated her services over 4 stars out of 5, which is a fantastic achievement. We’d like to thank all of the clients who took the time to share their positive feedback on VouchedFor.co.uk.

Comments Adam Price, Founder of VouchedFor.co.uk: “At VouchedFor we’re passionate about helping people to find great financial and legal advice. At certain points in life the majority of us would benefit from expert help with complex issues such as pension planning, securing a mortgage or for advice on a legal issue. Listing professionals alongside verified reviews from their existing clients makes it easy to find a respected and trusted expert like Monika to help. We would like to congratulate Monika on being one of the Top 200 – it’s a great endorsement of the service Monika provides.

You can see his reviews by going to https://www.vouchedfor.co.uk/accountant/stockport/25837-monika-udala

Merry Christmas and a happy new year

Accountancy4You wishes you the best – we hope your Christmas time and New Year will be great. We would like to also wish you success in your work and business, financial stability and perfect account balance 🙂

Have a happy holiday everyone.

How to recognize a good accountant?

Searching for a good accounting company can be a difficult process, as you can find countless bookkeepers in your area, but you don’t know if they are good at their job at the first glance. Thus, we have prepared a short guide for those who wish to find a trusted, skilled accountant.

What characterizes a good accountant?

  1. Individual Approach
    An expert accountant is worth hiring when you see that the serviced clients are not treated similarly. Every company and sole trader are a different pair of shoes and every customer has different needs, thus a perfect accounting company treats each of its clients as a completely separate issue. A good accountant can spot small differences in each customer’s books and is able to adapt accordingly, without treating congenial situations the same every time.Trustworthiness, confidentiality
    Customer’s finances are a confidential information and should stay that way unless it is legally required to discolse them. Your accountant has to be trusted with the deepest secrets of your company and you have to trust your bookkeeper without any doubt. Thus, check the opinions of other customers to see if the accounting company you plan to hire is worth considering.
  2. In touch with the news
    Law changes constantly and a good accountant should know about such changes in advance to perform the work in accordance with the current regulations. If a bookkeeper does not know that a change in tax law comes in a month, it’s best to consider changing your accounting company.

 

What are your responsibilities as a sole trader?

So you have decided to register as a sole trader – maybe you are self-employed  or you are just starting with your own company and you’ve decided to inform HMRC about it. No matter what was the cause for sole trader registration, you have some responsibilities that may seem completely new and complicated at first – as a sole trader you have obligations that are not standard in a typical tax evaluation. That’s why we’ve prepared a short list of sole trader’s responsibilities which you can find below.

As a sole trader you have to:

  1. Report your expenses and business sales and keep a detailed record of both to show during the evaluation – they are needed for proper tax returns and payments. That includes keeping all the bills you have that are connected with your business – always keep them after you pay them. When you have all your expenses and sales sorted out, you can safely send a Self Assessment tax form to HMRC at the end of a fiscal year.
  2. Register with proper authority for VAT – if your revenue is over a certain specified amount, you are eligible for VAT payer registration.
  3. If you are a sole trader working in a construction industry as a contractor or sub-contractor, you also have to register for CIS.
  4. Pay business debts, if you have them of course.
  5. And, last but not least, you are covered by the income tax and by national insurance.
  6. All of these should be filed to HMRC and other required authorities as the need appears.
  7. You should ask your accountant for help if you are not sure how to fulfill all of the above requirements!

Do you have to fill out a tax return form?

It is possible that some of you have never seen a tax return form – and it should not be surprising, as many (if ont most) employees in the British taxation system don’t have to bother with filing it – tax return is automatically estimated and withheld accordingly, based on your salary.But some of you had to have an encounter with a tax return form and it was yet another hurdle to pass before successfully filing a tax report to HMRC.

Who has to fill out the tax return form?

For example: if you are self-employed (be it a sole trader or a partnership),  you work abroad, you have a capital gains tax waiting for evaluation, you have bigger investments (over  £10,000) or you have much higher employment income (over £100,000), you are required to fill out a tax return form. But if you belong to one of the above groups, you probably have much more important stuff to do, namely – conducting your successful business – and another form to fill out in the sea of paperwork is something that can effectively hinder your dealings.

How our accountants can help you?

That is why Accountancy 4 You was created – to help you with all the formalities. Tax self-assessment is a very trying time at the end of every fiscal year and if you wish to have some stress taken off of you, you need a professional help in a form of an accounting company.

Welcome to our blog!

We are glad you’ve visited our accounting blog.  You probably wonder what you will find here and the answer is simple – we shall try to explain some basic concepts behind accounting to guide you through a pretty complicated process of payrolls, tax returns and all the things you don;t have the time and patience to grasp when you have your own business to conduct. That’s why we’re here – to help you!