Starting a new business? Get 40% off our accountancy services for 3 months! 😀

x

Accountancy fees are tax deductible. However, this does not mean that if you pay more for an accountant, you will pay less in tax.

Income tax is charged at 20%, therefore you would only make a 20% saving in your tax bill if you hired a more expensive accountant.

To explain this more clearly, it is best if an example is used:

If ‘Accountant A’ charges £400.00 a year and ‘Accountant B’ charges £200.00 a year, you would pay £40.00 extra a year towards tax if you hired ‘Accountant B’ however; the other £160.00 would go into your pocket. Therefore, it is always beneficial to hire an inexpensive accountant providing they can provide a quality service.

If you are still unsure or have any queries at all, please do not hesitate to phone or email us, or alternatively, you can simply use the live chat link available.

About The Author

Lee Murphy

MAAT and ICPA accountant, with a passion for making accountancy and bookkeeping accessible. Other interests include cloud-based software development for web and mobile access, keeping fit, reading, and entrepreneurship.

More posts by this author
guest
0 Comments
Inline Feedbacks
View all comments

Read more posts...

Umbrella Companies for Self-Employed Contractors

When you set up in business as a contractor you might either work as a sole trader or as a limited company….

Read More

Get Ready for Small Business Saturday UK 2022

Small Business Saturday started in the US in 2010, on the first Saturday following Thanksgiving. It aims to encourage shoppers to consider…

Read More

Architects and Tax

Architecture is a highly diverse sector when it comes to tax. It’s partly down to the type of businesses that carry out…

Read More
Back to Blog...

Confirm Transactions

The number of monthly transactions you have entered based on your turnover seem high. A transaction is one bookkeeping entry such as a sale, purchase, payment or receipt. Are you sure this is correct?

Yes, submit my quote
No, let me change it

Please contact our sales team if you’re unsure

VAT Returns

It is unlikely you will need this service, unless you are voluntarily registered for VAT.

Are you sure this is correct?

Yes, the business is VAT registered
No, let me change it

Call us on 020 3355 4047 if you’re not sure.

Bookkeeping

You only need this service if you want us to complete the bookkeeping on your behalf.

Would you prefer to complete your own bookkeeping?

Yes
No

Call us on 020 3355 4047 if you’re not sure.