A small business accountant is a qualified financial professional who manages the accounting, tax compliance, and financial reporting for SMEs in the UK. They prepare annual accounts, file Corporation Tax returns and VAT returns with HMRC, run payroll, and provide proactive advice on reducing your tax liability and improving cash flow.
Here is what an accountant for small business typically handles on your behalf:
- Annual accounts preparation and filing with Companies House
- Corporation Tax return (CT600) preparation and submission to HMRC
- Self Assessment tax return filing for directors and sole traders
- VAT return preparation and submission (including MTD-compliant quarterly filings)
- Payroll management which includes PAYE registration, employee payslips, RTI submissions
- Bookkeeping and bank reconciliation
- Company formation and registration with Companies House
- Tax planning including salary and dividend strategy, pension contributions, allowable expenses
- Confirmation statement filing
- HMRC correspondence and investigation support
Do I Need an Accountant for My Small Business?
You are not legally required to hire an accountant for a sole trader or small limited company in the UK, but the majority of small business owners benefit significantly from professional accounting support. A qualified accountant saves you time spent on bookkeeping and tax returns, reduces the risk of HMRC penalties for late or incorrect filings, identifies tax-saving opportunities you may otherwise miss, and provides advice as your business grows and your tax situation becomes more complex. Research consistently shows that small businesses using professional accountants pay less tax and make fewer filing errors than those filing independently.
Tax Planning for Small Businesses
Effective tax planning is vital for helping your small business keep more of what it earns and support growth. At GoForma, our Small Business Accountants are with you all year, not just at year-end.
Corporation Tax Efficiency
We review your business structure and profits to find every opportunity to reduce your corporation tax bill. By looking at your income, deductions, and accounting periods, we help you hold onto more of your earnings.
Director Salary and Dividends: Find the Right Mix
If you’re a director, how you split your salary and dividends makes a big difference. It affects both your personal and company tax. We provide clear advice tailored to your situation, so you can pay yourself in the most tax-efficient way, always following HMRC guidelines.
Allowable Expenses
Many small businesses miss out by not claiming all legitimate expenses. We make sure you claim everything you’re entitled to, whether it’s office costs, travel, or professional fees. This reduces your taxable profit without unnecessary risks.
Capital Allowances
If you’ve bought new equipment or invested in assets, we help you claim capital allowances to lower your taxable profits and support your cash flow.
VAT Scheme Advice
Not every VAT scheme suits every business. We look at your turnover and operations to recommend the most cost-effective VAT scheme to save you money and simplify reporting.
Research and Development (R&D) Tax Relief
If you invest in technology or innovation, you might be eligible for R&D tax relief. We assess your projects to ensure you claim all the relief you’re entitled to.
Credibility You Can Trust
Our team keeps up to date with HMRC rules and UK tax law, so you receive advice that’s smart, safe, and fully compliant. No unrealistic promises or risky shortcuts, you get just solid, practical guidance to help your business grow.
Small Business Accounting Services by GoForma
GoForma small business accounting packages cover all mandatory HMRC and Companies House filings, plus proactive tax advice and dedicated support, all for a fixed monthly fee.
1. Business Structure Advice
Not sure if you should be a sole trader, start a partnership, or go limited? This choice affects tax, liability, and how you pay yourself. We lay out the pros and cons, explain what each option means for you, and help you choose the structure that fits your goals. Make the right call from the beginning.
2. Self-Assessment Tax Returns
Filing your Self-Assessment isn’t exactly anyone’s idea of a good time. Why waste your energy stressing over paperwork and deadlines? Let us handle it for you. We’ll complete your return correctly, on time, and make sure you claim every allowance you’re eligible for. You pay what you owe, not a penny extra.
3. Small Business Bookkeeping (via FreeAgent)
With FreeAgent, we record expenses, manage invoices, and keep your books up to date. You get a clear view of your cash flow, so you can make decisions with confidence, not guesswork.
4. Company Formation
Looking to set up a limited company? We take care of the company registration with Companies House and handle all the technicalities.
5. Payroll Services
We run payroll, manage deductions, and handle HMRC reporting. Your team gets paid on time, every time.
7. VAT Registration & Returns
If your business reaches the VAT threshold or if you decide to register voluntarily, we’ll manage the VAT registration process for you. We’ll also handle preparing and submitting your VAT returns.
8. Business Advisory & Growth Support
Our team of small company accountants look at tax strategies, cash flow, and forecasting. We help you find opportunities, avoid mistakes, and keep your business on the right track.
9. Cloud Accounting Software Setup (FreeAgent)
Our accounting package includes FreeAgent. We set it up, connect it to your bank, and show you how to use it. Real-time data means you always know where your business stands.
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Service
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What's Included
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HMRC Deadline
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Annual Accounts
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Preparation of statutory accounts (profit and loss, balance sheet) to Companies House standards. Filed with Companies House within 9 months of your financial year end.
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9 months after year-end
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Corporation Tax Return (CT600)
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Preparation and electronic submission of Corporation Tax return to HMRC. Calculation of tax due and advice on timing of payment.
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12 months after year-end
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Self Assessment Tax Return
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Personal tax return for company directors, sole traders, and individuals with self-employed or investment income. Includes calculation of income tax and National Insurance.
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31 January (online)
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VAT Returns
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Quarterly VAT return preparation and MTD-compliant submission to HMRC. Includes advice on VAT scheme selection (standard, flat rate, cash accounting).
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1 month + 7 days after quarter end
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Payroll & RTI
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Monthly payroll processing, PAYE calculations, payslip generation, and Real Time Information (RTI) submissions to HMRC.
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On or before pay day
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Confirmation Statement
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Annual confirmation statement filing to Companies House, confirming company details are up to date.
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Within 14 days of due date
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Bookkeeping & Bank Reconciliation
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Regular reconciliation of bank transactions through FreeAgent. Categorisation of income and expenses. Management accounts on request.
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Ongoing
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Tax Planning & Advice
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Proactive advice on salary and dividend strategy, pension contributions, director expenses, and timing of income to minimise tax liability.
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Year-round
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Company Formation
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Registration of a new limited company with Companies House, including VAT registration, PAYE setup, and registered office address.
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From company launch
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HMRC Agent Authority
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GoForma is authorised to deal with HMRC directly on your behalf — including correspondence, enquiries, and payment arrangements.
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Ongoing
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Additional Services (with extra charges)
- R&D Tax Credit claims: identifying and filing Research and Development tax relief for eligible small businesses
- Capital Gains Tax (CGT) calculations and reporting
- Company closure and strike-off (Members' Voluntary Liquidation support)
- Crypto tax return filing: income and capital gains from cryptocurrency
- HMRC enquiry and investigation support
- Business plan preparation for funding applications
How Much Does a Small Business Accountant Cost?
The cost of a small business accountant in the UK typically ranges from £50 to £300 per month for an all-inclusive monthly package, or £500 to £2,000+ per year for an annual engagement. The exact cost depends on your business structure (sole trader vs limited company), turnover, VAT registration, and the level of service required. GoForma charges from £39/month for sole traders and from £75/month for limited companies, with all mandatory filings and FreeAgent software included.
Ready to Work With Small Business Accountants Who Actually Add Value?
Running a small business isn’t easy. You already have plenty to deal with, so you don’t need the stress of tax issues or financial confusion. That’s where GoForma comes in. Our accountants for small business help your business advance. Genuine advice, no nonsense, and support designed to keep more money in your pocket.
Take control of your finances with accountants who are genuinely invested in your business and its success. Book a free consultation to get direct advice from a qualified Small Business Accountant today.
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