Accountants for small businesses

If you are a self-employed business owner, AudTax can support you with tax advice and a full range of accountancy services. Our aim is to relieve the burden of managing your business accounts and help you maximise your profits.

Welcome to AudTax, small business accountants

AudTax is an accountancy firm based in London providing services for small businesses all over the UK. When you work with us, you’ll get the support of a team of responsive and highly qualified accountants with years of experience working with small to medium-sized businesses.

Self-employment can be very rewarding but also very challenging. If you are trying to get your limited company, partnership or sole trader enterprise off the ground, we can provide all the accounting support you need to make it happen. From bookkeeping to strategic tax planning, we can offer a complete range of small business accountancy services.

If you’re an established small business owner looking for more support, we make it easy to move on from your existing accountant. Just leave the paperwork and formalities to us, and we’ll ensure a smooth transition.

To book a free discovery call, please get in touch today.

What does a small business accountant do?

A professional small business accountant can help manage some or all of your finances. Typical small business accounting services include basics like monthly bookkeeping, payroll and help with annual accounts and tax returns. As your business grows, you may wish to add services like management accounting and strategic tax planning to help you make better business decisions.

Small business accountants help all sorts of business owners, like sole traders, partnerships and limited companies. If you’re not sure which is the right business structure for you, your accountant can help you weigh up the pros and cons and register your business with HMRC and Companies House if necessary.

Why is accounting important for a small business?

You can choose to manage your own accounts, but being a solo business owner can be tough. It can be tricky to find time to concentrate on your business finances in the hustle and bustle of your daily operations. A professional accountant can save you valuable time and allow you to do what you do best.

Small business owners have tax and reporting responsibilities. Mistakes and missed deadlines can result in costly fines, but a professional accountant can ensure that you fulfil your tax obligations accurately and on time.

Another benefit of using small business accountants is tax efficiency. Your accountant can help you identify tax-deductible business expenses to reduce your income and corporation tax liability. They can also conduct regular strategic reviews to ensure your business is tax-efficient so you retain more of your profits.

In addition to all of these benefits, having access to reliable, professional advice can be a huge weight off your mind. So, rather than thinking of a personal accountant as just another expense, consider it an investment in you and your business. As a limited company director, you can even claim accountancy services back as a valid expense.

Our accounting services for small businesses

From helping with your annual self-assessment tax returns to strategic tax advice, our team of dedicated accountants can help relieve the burden of managing your sole trader accounts. Among our many accountancy services for sole traders, we offer the following:

Tax returns

We can help you calculate and file your tax returns, whether that’s personal self-assessment or Corporation Tax. We will help you identify every last deductible expense and submit your return using software compatible with Making Tax Digital (which is due to launch for sole traders in April 2026).

Bookkeeping

Good bookkeeping is fundamental to successful financial management. At AudTax, we can help you implement simple bookkeeping software in order to maintain accurate records and avoid any financial hiccups.

Online accounting software

Cloud accounting technology has revolutionised small business accounting. At AudTax, we use all of the leading cloud accounting packages such as Xero, Quickbooks and Sage. This software is easy to use and works in real-time, eliminating the need for version control and enhancing accuracy.

VAT

VAT is subject to many rules and regulations, which can be complex to navigate. As your dedicated accountant, we can help you plan for your VAT returns to avoid both fines and overpayments.

Payroll services

If you employ even one member of staff, you need to run a payroll to ensure that they are paid on time and to fulfil PAYE tax requirements. As your team grows, it can become an overwhelming task. At AudTax, we can take payroll management off of your hands to lighten the load.

Management accounting

AudTax can empower you to make better business decisions with our management accounting service. With regular financial reporting, we’ll provide the insight you need to drive your business forward.

Frequently asked questions about small business accounting

When should you hire an accountant for a small business?

Having access to your own dedicated accountant can be beneficial at any stage of your business journey, and it’s never too early. In the early days, a professional accountant can help you to establish robust accounting procedures using the latest cloud software in order to maintain accurate records and take the stress out of self-assessments.

For your growing business, your accountants can provide more strategic support and expert advice on how to expand your business sustainably. That may include tax planning and management accounting services. They can also help you register as a limited company when the time is right.

Expert accountants can add value every step of the way to give your business the best chance of success.

What taxes does a small business have to pay?

If you are a sole trader or part of a limited liability partnership, you must register with HMRC and pay Income Tax and National Insurance contributions on profits that exceed your annual tax-free allowance (£12,570 for 2023/24). You must also register for VAT if your turnover exceeds the threshold of £85,000.

Limited companies must pay Corporation Tax to HMRC and submit annual accounts to Companies House. Again, you must register and submit VAT returns if your income exceeds the threshold. As a limited company director, you must also submit a personal tax return to report any earnings outside of your PAYE salary, such as dividend payments.

There are various other taxes that apply to small businesses, such as Capital Gains Tax.

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Why choose AudTax?

As a self-employed owner-manager, you can reap the rewards of professional small business accountancy services. AudTax is a team of highly skilled and experienced small business accountants serving clients from our base in London and throughout the UK. When you work with us, you will be assigned your own dedicated small business accountant from whom you can expect a thorough, professional and prompt service.

Whether you are a start-up, sole trader, partnership or limited company, we can tailor our services to fulfil your requirements. We can create a bespoke small business accountancy package with a fixed monthly fee and no hidden costs.

Why not get in touch today to arrange a free discovery call? One of our expert accountants would be happy to discuss your requirements and provide a bespoke quotation based on your needs. We look forward to hearing from you.

Get business advice now

If you’re ready to take the next step and get your business on the path to growth, get in touch today so we can learn about your plans.