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 Moray, 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.
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Accountancy & Tax in Moray
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If you run your own business
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.
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.
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.
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.
The best time to talk to an accountant is when you first think about starting or buying your own business. The next best time is now. A little bit of time and money invested in timely advice could save you thousands of pounds and make the difference between success and failure, particularly if start-up funds are limited. We’d love to get to know you better & take some of the work off your plate. Call to book a FREE consultation or request a call back today!