Can I do my own accounts?

Well you could...

We don't want to scare you but unless you're an accountant or a mathematical whizz and you have a good understanding of what you're getting into, you might regret taking it on. Your accountant is a highly qualified expert, and let's face if you needed a filling you'd go to a dentist wouldn't you? 

Accounting mistakes can be very costly, for example just being a day late on submitting your corporation tax will cost you £100.  You're more likely than your accountant to get it wrong and the extra work and stress can easily eat into the rest of your life. Who wants to worry about their tax return when socialising with family and friends? In reality, using an accountant is often the easiest, best and most cost efficient option. 

Your accountant will not only ensure you are on time for your filing deadlines but will make sure the information sent in is accurate. What we are saying is perhaps it is better you focus your efforts on what you do best, your day job, and leave your accountant to look after your business and personal taxation needs.

What will an accountant do for me?

Your accountant is there to do much more than just your tax returns, company accounts, and VAT return.  They'll help you throughout the year with financial advice to ensure your company is running as tax efficiently as possible. 
 

Also, they will keep up to date with legislation changes and will make you aware of any that could affect your business. In a nutshell, an accountant should:

  • Keep on top of your personal and business taxation needs. E.g:
    • Your personal tax return
    • Corporation Tax Calculation
    • Year end accounts
    • VAT calculations
    • Ensure you are operating through the correct structure, i.e., a limited company
    • Advise you on expenses, on what you can and cannot claim
    • Provide continuous tax planning advice based on your business forecast
    • Advise on how much to put aside for tax bills and dates of when these would need paying
    • Support you with recommendations for suppliers for insurance and pensions.

These are just a few or the many things an accountant will support you on through the year. As you can see, there is much more to it than just doing your accounts!

Why Genie Accountancy?

At Genie Accountancy we prefer to think of ourselves as an additional employee of your company. We are there to make sure your company is running as tax efficiently as possible, and we always make sure you know what information we need from you and by when, to ensure you never received a late penalty fine.

You will have a dedicated accountant that you can call, email and meet face to face as often as you like, we feel it is important our clients never hesitate to ask us anything. You will only have one point of contact as we understand your time is precious and the lats thing you want to do is have to explain yourself to a new point of contact every time you call up.

What will Genie Accountancy do for you?

Genie Accountancy offers three packages, Online, Genie Professional and Genie Professional +. More information on the different packages can be found here, Genie Accountancy Fees. Below is a breakdown of just some of the many services we offer to our clients.

  • Unlimited accountancy support
  • Dedicated Accountant
  • Proactive quarterly review
  • Face to face meetings
  • Access to real-time accountancy software
  • Year-end preparation and filing 
  • VAT registration and quarterly filing
  • Directors and employee payroll
  • Annual return
  • Self-assessment return
  • Management of HMRC documents
  • Free financial services review
  • Bookkeeping
  • Company formation
  • Use of address for registered office
  • Unlimited IR35 contract reviews by Bauer and Cottrell
  • Mortgage reference letters
  • VISA preparation 

In conclusion, you could do your accounts if you wanted to but it’s probably best to leave an accountant in control of your business and personal taxation needs, as they are the expert just like you are the expert in your field.

If you'd like to find out more about how Orange Genie Accountancy could help you please call 01296 468 483 or email accountancy@orangegenie.com.

Why Orange Genie Accountancy?

Orange Genie Accountancy offers fixed fee accountancy packages to contractors and freelancers. Each client has unlimited access to their own dedicated approachable and friendly accountant. All Orange Genie Accountancy accountants are specialists in the contracting market, so they can give you bespoke, high quality advice.

We will always keep you informed about anything that could affect you and your company. Our relationships with our clients are extremely important to us so we'll be in touch often, whether it be face to face, over the telephone or email.

Our packages start at £75 + VAT a month for an online service. Our most popular package is £120 + VAT a month which provides you with your very own dedicated accountant as well as:

  • Unlimited accountancy support
  • Face to face meetings so we can get to know you and understand your contracting goals
  • Proactive contact
  • Director and employee payroll
  • Annual Return
  • Self-Assessment Return
  • A fully compliant service so you are safe in the knowledge that you are meeting your legal obligations
  • Access to the Freeagent Software, which is updated in real time so you can always see how your business finances are looking

​And much more, includingaccess to wealth management advice, IR35 reviews and pensions planning. 

If you would like to appoint Orange Genie Accountancy as your accountants please either fill out our enquiry form or give one of our friendly expert accountants a call on 01296 468 185 or email accountancy@orangegenie.com

Request a Call Back