Accountancy & Tax In Hampshire

Oaktree Accountants Limited
Oaktree Accountants Limited

Having a good firm of accountants on your side will ensure that you have all the information and support that you need to help your business grow and flourish.

They can offer advice and help you comply with accounting and tax requirements.

If you are self employed or run a small enterprise in Hampshire, it makes sense to use an Accountant or Bookkeeper who is keen to help small business and new business start ups rather than struggle with the task yourself.

Recommended Local Partner

Oaktree Accountants Limited

Oaktree Accountants Ltd are a thriving local firm catering to the accountancy, taxation, payroll and advisory needs for businesses and individuals across Hampshire and the surrounding counties. With our excellent eye for detail, you can spend more time doing what you do best, run your business.

Founded in 2003, Oaktree was built by our directors Sarah Robinson and Lucy Macginnis, who envisioned accounting without the jargon. They pictured a fresh, friendly and informal approach to accountancy which, in 2019, continues to put our clients at ease. We boast a diverse clientele of all shapes, sizes and industries, from young families to retired couples, from start-ups and sole traders through to partnerships and well-established limited companies. We pride ourselves on ensuring every client receives the upmost trust-worthy and professional advice tailored to their individual needs and their developing business goals.

Working closely with the directors, our team strive to empower our clients and strengthen their confidence in running their business. We are committed to looking beyond the numbers so we can find them the best possible opportunities and give specialised business advice based on their accounts and projections. With our clients at the forefront of what we do, client satisfaction is integral to our work.

Oaktree Accountants Ltd offer a friendly and welcoming service combined with a wealth of experience and extensive skillset to offer not just accountancy but advisory services. Contact us today for a free consultation.

Oaktree Accountants Limited
Tel: 01264 324103
Web: https://www.oaktreeaccountants.co.uk/

Free Friendly Advice

If you would like some free friendly advice from a trusted local partner relating to any accountancy or tax matter, please complete and submit this form. There will not be any pressure nor will you be under any obligation to buy paid services.

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Free Accounting Resources

The following items are in our FREE start-up pack and can be download individually or as part of the whole pack.

Personal Survival Budget
Personal Survival Budget

This template will help you to identify how much profit your business needs to make to cover your own personal outgoings.

Cashflow Forecast
Cashflow Forecast

An easy to use template. Instructions are included - just input your figures and the spreadsheet will perform all of the calculations for you.

Business Plan Template
Business Plan Template

One of the most important steps but is often ignored. This document will provide you with a clear road-map for your business.

Please note that one-time registration is required to unlock all of the free items on this site.

Latest Accountancy Articles

If you run your own business in Hampshire and would like to learn more about accounts, bookkeeping, National Insurance, or VAT, we have compiled a library of useful resources and frequently asked questions which we hope that you will find both interesting and useful.

Main Accounting Considerations

Main Accounting Considerations

One of the first decisions you will need to make is which legal structure is likely to suit your new business and this will affect your accountancy obligations.

You can read a detailed article about your various options at: Sole Trader or Limited Company?

The information below primarily relates to self-employment but if you decide to trade as a limited company, you can read more here: Running a Limited Company.

Becoming Self-Employed

You should tell HMRC as soon as you start self-employment, otherwise you may face a penalty. You are considered to have started self-employment when you have something to sell and either have a customer for your goods or services, or you are actively marketing your business.

You can let HMRC know about your self-employment by registering online for business taxes. A Self-Assessment Online account will automatically be set up at the same time. This allows you to send your Self-Assessment tax returns online. You will receive an Activation Code. You need to activate the service within 28 days. If you don’t, you will have to ask for a new Activation Code.

You can register online at www.hmrc.gov.uk/online/new.htm

National Insurance

As a self-employed person, you pay a fixed amount of Class 2 National Insurance contributions (NIC). If your profits are above a certain limit, you may also have to pay Class 4 National Insurance contributions.

See Self-employed National Insurance rates for full details.

Statutory Records

It is very important that you set up a record keeping system and keep all records and supporting documents. Records for the current tax year must be retained until 31 January 2022.

You must keep records of all money coming into and going out of your business. This includes all cash, cheques and credit card transactions.

Your records should be adequate to allow you to complete an accurate Self Assessment return. You will be expected to keep a full record of:

  • All sales made and other business income, as it is earned.
  • The cost of all business expenses and purchases as you pay them, no matter how little they cost.
  • All purchases of business stock, goods and raw materials.
  • Mileage records.
  • Capital expenditure; keep a separate record of all purchases and sales of business equipment, machinery and vehicles, together with the receipts.
  • Keep a record of the market value of equipment or vehicles introduced into the business that you owned before starting your business.

See Business records if you're self-employed for full details.

Key Dates

There are key dates that you need to be aware of during the financial year. These relate to reporting and payment of any monies due. A list of dates and full explanation can be found here.

Value Added Tax (VAT)

You must register for VAT if:

  • Your taxable turnover exceeds the VAT threshold in any 12 month period
  • you expect your taxable turnover to exceed the VAT threshold within the next 30 days
  • you take over an existing VAT registered business as a going concern

You have 30 days from the date you meet any of these criteria to register.

Usually, VAT registration can be completed online and if you apply online, you will be enrolled automatically so that you can submit your VAT return online (there is no longer a paper version).

The current VAT threshold is £85,000; if your turnover is below the registration limit, you can choose whether to apply for voluntary registration. The standard rate of VAT currently is 20%.

See the official VAT website for full up to date details.

Hampshire Accountants

Useful Start-Up Resources

If you can help new business start ups or existing small businesses in the Hampshire area, we would love to promote you here free of charge. (Add Your Business)

Oaktree Accountants Ltd are a thriving local firm catering to the accountancy, taxation, payroll and advisory needs for businesses and individuals across Hampshire and the surrounding counties. With our excellent eye for detail, you can spend more time doing what you do best, run your business. Founded in 2003, Oaktree was built by our directors Sarah Robinson and Lucy Macginnis, who envisioned accounting without the jargon. They pictured a fresh, friendly and informal approach to accountancy which, in 2019, continues to put our clients at ease. We boast a diverse clientele of all shapes, sizes and industries, from young families to retired couples, from start-ups and sole traders through to partnerships and well-established limited companies. We pride ourselves on ensuring every client receives the upmost trust-worthy and professional advice tailored to their individual needs and their developing business goals. Working closely with the directors, our team strive to empower our clients and strengthen their confidence in running their business. We are committed to looking beyond the numbers so we can find them the best possible opportunities and give specialised business advice based on their accounts and projections. With our clients at the forefront of what we do, client satisfaction is integral to our work. Oaktree Accountants Ltd offer a friendly and welcoming service combined with a wealth of experience and extensive skillset to offer not just accountancy but advisory services. Contact us today for a free consultation.
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On The Spot Accountants - On Site. On Time. On Your Side. The spot on business service in Hampshire. The accountancy and tax advice service youve been waiting for. Face-to-face advice from an experienced, qualified, commercial accountant. Your questions replied to promptly and fully - no subcontracting or delegating. You decide when your accounts and tax returns are prepared, with year round support. On Site - Teresa visits you to understand your business and to save you time. On Time - Teresa works with you as your year end approaches to agree the timetable to file your accounts on time. On Your Side - Teresa acts in your best interests to ensure you claim the tax allowances you should. Contact me now for a free no-obligation 1 hour consultation. With our fixed fee policy, transparent and friendly approach, I can help small businesses and individuals with their accountancy and tax needs. Thanks for reading! Teresa Rogers On the Spot Accountants On Site. On Time. On Your Side. Practical understandable tax accounting solutions for your business.
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We are an established local firm of accountants who have served the small business community in Hampshire and the surrounds for many years. We deal exclusively with start up and young, growing businesses and have over 100 years of combined experience in this field. Consequently, we have little doubt that you will conclude we know all there is to know when it comes to providing sound advice and services to new entrepreneurs covering bookkeeping, accounting, business tax, company tax, VAT, payroll and all other relevant financial and corporate matters. What neither you or we know though is the most important thing of all - are we the type of people and personalities youd be happy to have on your team? Why not judge for yourself by meeting us for a free initial consultation; its the only way to find out and it wont cost you anything!
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This practice established in 1980 has always aimed to provide a personal service and complete range of accountancy services which include book keeping,payroll,VAT returns and a new package expecially for the construction industry as well as usual year end accounts and tax returns. Free refreshments and a consultation with a qualified Partner to set new business up correctly right from the start.
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Surrounded by mountains of paperwork? Are your accounts stressing you out? M A Accountancy Services is here to help! We can help you with your bookkeeping, PAYE, VAT Returns, Income Tax Returns, Annual Accounts, Corporation Tax, Business start-up advice and SAGE Accounts set-up and training. Call 07789015130 to arrange a free initial consultation with a dedicated professional.
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Looking for an accountant in Hampshire? Call us for a no obligation informal chat to see how we can help.
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