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SME resources

There’s so much to keep track of when running a business, that sometimes things like keeping track of tax deadlines can slip through the cracks. These SME resources contain some of the most important accounting deadlines to keep in mind throughout the year, and we’ve included some helpful hints on choosing an accountant for your small business.

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Choosing an accountant for your small business

The accounting marketplace is a competitive space, with many unregulated companies. The industry is controlled by regulations and legislation that your accountant should be aware of.

We advise you to consider the following aspects before deciding to entrust someone with your companies’ finances.

Make sure you: What we do:

Consider the size and complexity of your business. Ensure that the accountant you choose is best-suited for your size company.

We specialise in small and medium-sized enterprises.

Ensure that the accountant has professional qualifications or is registered with an accounting governing body.

Our principals are members of the Institute of Chartered Accountants in England and Wales

Check that the accountant has professional indemnity insurance. If the advice provided to you is incorrect, you could claim for any financial loss suffered.

We have professional indemnity in place.

Look for a proactive accountant who will remind you when deadlines are approaching.

We send email reminders of any upcoming deadlines.

Consider an accountant that provides other complementary services. This will be a great added value to you as all of your professional matters can be dealt with in one place.

We also offer offshore, immigration, tax and foreign exchange services.

We offer specialist, personalised, end-to-end accounting and tax advice

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With us, you benefit from the following:

 

Approachable and personable accountants

 

Tailor-made
services

 

A high-quality
accounting solution

 

The backing of a reputable accounting firm

 

Quality control exercised
on your behalf

 

Value-adding
initiatives

Filing accounts using iXBRL

Since April 2011, all UK limited companies need to file accounts and Corporation Tax returns by using the iXBRL tagging format. This means that companies can no longer simply post their accounts and returns; instead, they have to file them electronically. If you need help with filing your accounts in the right format, or you're struggling with your iXBRL submission, please contact us and we will be happy to assist you.

Making Tax Digital

The Making Tax Digital initiative is aiming to simplify the UK’s tax system, but many business owners feel that it is going to complicate their tax affairs and ultimately end up costing them more. The good news is that this shouldn’t be the case if you’re properly prepared.

The revised timeline for MTD is:

  • From April 2019: All VAT-registered businesses with a taxable turnover above the VAT threshold will need to report on VAT digitally (each quarter, as per usual)
  • From April 2020: All businesses will need to report on Corporation Tax, as well as VAT, digitally

From April 2019, VAT-registered businesses with the required turnover will need to keep and preserve their VAT records digitally and file VAT returns using MTD-compatible software.

We stay at the forefront of all HMRC changes, and we can take care of all your reporting requirements: From making sure reports are in the correct digital format to submitting them on time. This allows you to focus on your business without having to worry if you’re up to date with all of your HMRC filing obligations. What’s more, HMRC will deal with our accountants should any issues arise with your accounts.

Our accounting team will be happy to support you throughout the transition to Making Tax Digital. Get in touch with our accountants on +44 (0) 20 7759 7553 or accounting@sableinternational.com for further assistance.

We offer specialist, personalised, end-to-end accounting and tax advice

Get in touch

Useful links:

  • Directgov has a great employment section where you will find information on taxes, small business and more.
  • HMRC has all the important information on UK tax requirements
  • Companies House is the register of all companies in England and Wales.
  • Business Link is the government's online resource for businesses.

Our accountants are available to answer your questions

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South Africa

Cape Town

Regent Square
Doncaster Road
Kenilworth 7708 +27 (0) 21 657 2120

Durban

25 Richefond Circle
Ridgeside
Umhlanga 4320 +27 (0) 31 536 8843

United Kingdom

Croydon

One Croydon
12-16 Addiscombe Road
Croydon CR0 0XT +44 (0) 20 7759 7514

Australia

Melbourne

9 Yarra Street
South Yarra
VIC 3141 +613 (0) 8651 4500

Sable International is a trading name of 1st Contact Money Limited (company number 07070528), registered in England and Wales. We are authorised and regulated by the Financial Conduct Authority in the UK (FCA no. 517570), the Financial Services Conduct Authority in South Africa (1st Contact Money [PTY] Ltd - FSP no. 41900) and hold an Australian Financial Services Licence issued by ASIC to deal in foreign exchange (1st Contact Group - AFS Licence number 335 126).

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