Accountancy & Tax | Accountants Wigan

Wigan Accountants

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 Wigan, 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

Davies McLennon

We are chartered accountants based in Stockport

We are Chartered Accountants based in Stockport, close to Manchester, offering accountancy, tax planning advice, payroll services and business consultancy to small and mid sized businesses. We have a special package for business startups. If you are looking for an accountant see the Eight Great Reasons why you should talk to us. We are interested in helping our clients grow, and become more successful and profitable. Click here for a free report with ten very practical ideas on how you can grow your business. Our web payroll service is unbeatable value for money at just £1 per employee per month. Its also an easy and convenient way to work.

0161 612 0077

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Local partners

We are happy to promote anyone who is prepared to offer friendly support to local start-ups.

Our local partners have been kind enough to help us and are keen to help you too.

Walmsleys Commercial Insurance Brokers Ltd

Main Accounting Considerations

Sole Trader or Limited Company

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 https://www.gov.uk/log-in-register-hmrc-online-services/register

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.

Further Advice and Help

Wigan Accountants

SJM Accounting Services

Whether you are a sole trader, partnership or limited company we have the expertise to deliver quality advice and service at a price you can afford. At SJM Accounting we believe in a proactive approach. If you are interested in setting up a business, we will gain a thorough understanding of your business and your objectives to ensure that we give you absolutely the right advice.

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Davies McLennon

We are chartered accountants based in Stockport We are Chartered Accountants based in Stockport, close to Manchester, offering accountancy, tax planning advice, payroll services and business consultancy to small and mid sized businesses. We have a special package for business startups. If you are looking for an accountant see the Eight Great Reasons why you should talk to us. We are interested in helping our clients grow, and become more successful and profitable. Click here for a free report with ten very practical ideas on how you can grow your business. Our web payroll service is unbeatable value for money at just £1 per employee per month. Its also an easy and convenient way to work.

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JMC Financial Accountants Limited

If you are searching for accounts services and tax advice from a qualified accountant in Wigan, JMC Financial Accountants Limited are an approachable and friendly firm. We are an accountants based in Wigan and are well located to serve the entire North West area. Additionally, we have many clients throughout the rest of the United Kingdom and Europe.As well as normal office hours, we are also contactable at evenings and weekends. Having a thorough understanding of the bug bears that people can have when it comes to their accountant, we go those extra steps further to making accounts and tax as effortless as possible for you. In addition to being contactable at evenings and weekends, here are just some examples of how we differ from many accountants: always contactable via mobile phone and e-mail, even during evenings and weekends, no obligation, free initial consultation and free tax advice for small businesses, can hold meetings at your premises or home, within the North West region, to make life easier for you, will listen to your needs and always work in your best interests, offer a helpful service that is straight forward and easy to use, will prepare everything for you, way in advance of any deadlines, offer a reasonably priced, cost effective and efficient service, will discuss money saving opportunities with you at your convenience. Our expert team of accountants based in Wigan are dedicated in providing our clients with practical solutions that deliver real value for money. We have always offered businesses great advice, allowing them to grow whilst maximising profits and reducing risks.

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AXT Accountants

Based in Cheadle, Cheshire, our dedicated team provides expert solutions to a range of businesses, from individuals to small limited companies, both locally and nationally. We specialise in providing solutions to contractors and those in the property and construction industry. At AXT, we pride ourselves on our modern and forward-looking approach. We understand that your time is precious, which is why we offer a fully digital and online service. So say goodbye to the days of client visits and traditionally long accountancy meetings – we offer convenient and effective online solutions, as and when you need them, saving you time and helping you to succeed.

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CMA Accountancy

CMA Accounting is a leading provider of Accounting, Taxation and Business Advice for any individual or business. We have been working at the heart of the North West for 13 years, providing many Businesses with Support and Advice. Our currency is your success!

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Black Diamond Accountancy Services Ltd

Established in 2002, Black Diamond is an accredited service provider to the flexible labour market. Offering Umbrella and Accountancy Services, Black Diamond is perfectly placed to handle any contractor accountancy or employment requirement. Black Diamond are currently expanding. We are now able to offer our experience and expertise gained over the last decade not only to the flexible labour market but to business and individuals outside of this sector. Black Diamond are delighted to introduce: Diamond Bureau (managed and bespoke payroll bureau services), Diamond Compliance (ID verification, Anti-Money Laundering and Eligibility to work in the UK checks) and Diamond Employment (Employment law and contract advice via our business partners Peninsula). Our focus is always to work in partnership with our clients and shared business growth and success. Black Diamond continues to value the partnerships it has cultivated with its recruitment clients and are excited to expand its offerings and mirror good service to other businesses across the UK.

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Cashaccounts Limited

Personal accountancy services to local businesses of all types. Competitive pricing, fixed fees.

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P.B. Syddall & Co

Business startup advice from P.B. Syddall & Co. In over thirty years of working with a varied client base in the North, we have established a reputation as reliable and forward-thinking accountants and business advisers. Everyone expects their accountant to prepare accounts, deliver financial reports, optimise their tax position, etc. We do all of this - and we do it well! But we also go the extra mile for our clients. We offer a wide range of accounting and business advisory services from profit improvement and advanced tax planning to personal financial management and wealth-building to both businesses and individuals in Bolton and throughout the UK. When you choose us, youll find yourself working with a team thats focused on making your financial affairs run smoothly - and on saving you money! We identify with your success and strive to help you achieve it. After all, your success is our business. Most people who start up in business do so because they have a good business proposition and the enterprise and commitment to see it through, not because they are experts in the legal, financial, and fiscal aspects of running a business. Thats where we fit in. Bring us your business ideas and well help you to evaluate them in a constructive and realistic manner. We can also help you: - Decide on the most suitable structure for your business - sole trader, partnership, or limited company - Prepare a business plan, cashflow projections, budgets, and trading forecasts - Assess your finance requirements, advise on the best sources of finance, and draw up the necessary proposals - Establish a good working relationship with your bank - Complete any registration procedures with Companies House and HMRC - Deal with company secretarial issues - Set up a recording system for your internal use and for complying with statutory requirements Start your new venture on a sure footing. Contact us for a FREE initial consultation today.

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AXT Accountants

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Admiral Tax Investigations

Admiral Tax Investigations offer a comprehensive range of tax investigation services to UK individuals and businesses. We provide specialist tax investigation advice and support across a range of disciplines. These include UK tax investigation advice and representation, check of self assessment tax returns, Code of Practice 9, Serious Fraud, Voluntary disclosures, HMRC campaigns and tax amnesties. Our fees are unbeatable

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Cheaper Accountant

UK qualified accountants offering low cost expert accountancy services to small businesses and start-ups across the UK.

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Elver Consultancy Limited

We are a firm of Chartered Accountants based in Ashton-in-Makerfield, near Wigan, offering accountancy, taxation, payroll services and business consultancy to micro, small and medium sized businesses. We offer your business a specialist service to provide a cost-effective, high value solution for all your financial needs. We can be as involved in your business as you wish; its your choice entirely. We are happy to work on a fixed fee basis, details of which can be found on our website.

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