Domino

Accounting Services

VAT – SELF ASSESSMENT – END OF YEAR ACCOUNTS

Who We Are

Welcome to Domino Accounting Services  We specialise in helping small to medium sized businesses run their accounts, deal with their vat and get their accounts sorted and filed on time. Giving you the time you need to run your business rather than being covered in paperwork.

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What We Do

We offer a full suite of accountancy services from VAT to bookkeeping. We know dealing with your accounts can be time consuming regardless of what size your business is. By using us we can save you time and money so you can focus on the important aspects of your company such as delivering your products and services to your clients.

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Why Choose Us

We are a ISO certified company meaning we adhere to international regulated standards. This allows us to ensure our clients are getting the best service possible. We are also a member of the FSB which allows us to network with small businesses so we can tailor our services to them.

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Services

Services

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Company Formations

If you are a budding entrepreneur or just looking to make your new business project official, you will need to set up a company. However, there are so many trading styles, what is best for you will vary from business to business. Sole trader, Limited or Partnership ? 

How you set up your business depends on what sort of work you do. It can also affect the way you pay tax and get funding. We can sit down with you and discuss what you need from your company to ensure your business is set up and ready to support you. 

Once you have decided on your trading style, we can assist in making your business become official by registering for self assessment should you choose sole trader or partnership to registering at Companies House with associated taxes, PAYE, Corporation Tax and VAT. 

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VAT Registration

For many people nearing the VAT threshold can be a worrying experience. We are here to help you get prepared and be VAT registered so you have nothing about when the time comes.
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Bookkeeping

Maintaining Bookkeeping accurate and up to date financial records is essential in any business. Keeping track of income and expenditure enables businesses to spot and address trends before they become causes for concern. We can tailor a package to suit you whether weekly, monthly or quarterly.

Year end accounts

We can prepare and complete all of your year end accounts regardless of your company type: Sole trader, Partnership and Limited. We work with our clients to ensure those end of tax year deadlines are never and issue. 

Payroll

Payroll is a crucial aspect of any growing business. Increased legislation mean companies now need to be more compliant than ever when it comes to running payroll. Maintaining accurate records and adhering to filing deadlines is a must to avoid penalties. We can take care of your payroll needs from setting up, processing and end of year duties.

Dealing with HMRC on clients behalf

When you are busy running a business, it can be both time consuming and costly sorting out queries. Upon completion of HMRC`s 64/8 form we are able to take care of this and we offer this service as standard.

Self Assessments

“Self Assessment is a system HM Revenue and Customs (HMRC) uses to collect Income Tax.” Many people need to complete self assessments however this can be a time consuming process. Domino Accounting is here to help you get through it. 

On-site support / training

We love helping local businesses, and can offer on-site support. Whether your requirement is processing of VAT returns or general bookkeeping duties, we find this is not only a great way of learning about your business but also excellent in establishing a good working relationship.

If there is an aspect of your accounts you need help and training with, we are happy to take the time to show you. This could be training on specific software such as Sage, Xero, Quickbooks, Quickfile, MoneyManager or simply setting up excel spreadsheets tailored to your business needs.

Retail VAT Schemes

We are specialists in VAT retail schemes. every retail company is different and figuring out which method is right for you can be a hard task. Point of sale scheme? Appointment scheme? We can talk through your options and tailor a method to you.

FAQ

I want to set up a business, what should I do?

If you want to be self employed and set up a company the first thing you must do is register with HMRC, you will need a national insurance number. Once this is done you will receive a UTR (unique taxpayer reference) Keep this on hand as you will need it when you file your first year of accounts. If you want to set up a company also it is best to do this with companies house. IF you need help with any of this we are on hand to advice and talk you through it. 

When Do I Need An Accountant?

It is best practise to get in touch with an accountant just before you set up your company. An accountant can offer advice and instructions on what the best steps to take are for you. It is best to have everything prepared so when you start trading everything runs smoothly, enlisting the service of an accountant can help with this massively.

Can an accountant manage my finances for me?

Yes. The vast majority of businesses employ accountants to help with the management of their finances. This frees up time so business owners can focus on delivering their services and products to their clients. Bear in mind that each company owner is still liable for their own tax affairs so it is important to look for a trusted accountant. Such as an FSB or ISO member. 

Do I need a business plan to start a business?

This is very circumstantial, it is advised especially if you are applying for loans or financial help. However it is possible to start a business without one. IF you are trading alone some people will just start trading without a plan. There are however many benefits to a business plan such as giving you and any investors a detailed structure to follow. It also allows you time to research your market and competitors. When it comes to business preparation is key to success. 

Does my company have to be Limited?

No. Different company types work for different people. Limited companies do offer significant benefits but also much more responsibility. If you are unsure which company type is best for you it is always best to get in touch with an accountant to seek impartial advice. 

Should I keep hold of my receipts?

In most cases yes. You should keep hold of invoices and receipts as proof of purchase of any business expenses. MAny people are often shocked how much they can claim as expenses so it’s best to keep as much as you can save. Your accountant will be able to tell you what you can use as an expense and what you can’t.

Are accountants expensive?

This answer can vary as there is no real standard rate for accountants. If you are a new or small company don’t worry. You will often be shocked how reasonable an accountant can be, especially for the vast range of services they offer. Many accountants are much cheaper for smaller and newer businesses but as your accounts and transactions grow so will your accountant fees.

Do accountants give financial advice?

Yes of course. An accountant wants you to be successful so you can remain their clients so many will give free and impartial financial advice for all business related matters. You will often find getting an extra pair of eyes to look over your financial decisions can not only save you money but give you some much needed clarity. 

FAQ

I want to set up a business, what should I do?

If you want to be self employed and set up a company the first thing you must do is register with HMRC, you will need a national insurance number. Once this is done you will receive a UTR (unique taxpayer reference) Keep this on hand as you will need it when you file your first year of accounts. If you want to set up a company also it is best to do this with companies house. IF you need help with any of this we are on hand to advice and talk you through it. 

When Do I Need An Accountant?

It is best practise to get in touch with an accountant just before you set up your company. An accountant can offer advice and instructions on what the best steps to take are for you. It is best to have everything prepared so when you start trading everything runs smoothly, enlisting the service of an accountant can help with this massively.

Can an accountant manage my finances for me?

Yes. The vast majority of businesses employ accountants to help with the management of their finances. This frees up time so business owners can focus on delivering their services and products to their clients. Bear in mind that each company owner is still liable for their own tax affairs so it is important to look for a trusted accountant. Such as an FSB or ISO member. 

Do I need a business plan to start a business?

This is very circumstantial, it is advised especially if you are applying for loans or financial help. However it is possible to start a business without one. IF you are trading alone some people will just start trading without a plan. There are however many benefits to a business plan such as giving you and any investors a detailed structure to follow. It also allows you time to research your market and competitors. When it comes to business preparation is key to success. 

Does my company have to be Limited?

No. Different company types work for different people. Limited companies do offer significant benefits but also much more responsibility. If you are unsure which company type is best for you it is always best to get in touch with an accountant to seek impartial advice. 

Should I keep hold of my receipts?

In most cases yes. You should keep hold of invoices and receipts as proof of purchase of any business expenses. MAny people are often shocked how much they can claim as expenses so it’s best to keep as much as you can save. Your accountant will be able to tell you what you can use as an expense and what you can’t.

Are accountants expensive?

This answer can vary as there is no real standard rate for accountants. If you are a new or small company don’t worry. You will often be shocked how reasonable an accountant can be, especially for the vast range of services they offer. Many accountants are much cheaper for smaller and newer businesses but as your accounts and transactions grow so will your accountant fees.

Do accountants give financial advice?

Yes of course. An accountant wants you to be successful so you can remain their clients so many will give free and impartial financial advice for all business related matters. You will often find getting an extra pair of eyes to look over your financial decisions can not only save you money but give you some much needed clarity. 

Learn About Our VAT Services

Get Help With Self Assessments

Read More About Year End Accounts

ISO9001:2015  Accredited

Domino Accounting are proud members of the International Organization for Standardization (ISO) The ISO incorporates the national standards from over 164 countries to ensure their members are offering a standardised and quality service that is globally recognised.This means for you when using an ISO member from products, to health to services you can be sure you are getting the highest quality service that is stringently regulated to protect you and the world as a whole.

Federation of Small Business Member

We are also proud members of the Federation of Small Business (FSB) The FSB work with smaller companies to ensure they can learn, connect and develop in a business first environment. We believe it is important to be a part of this network so we can contribute to the growth of small business be it from advice to accounting we are here to help you. 

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Contact

01204 771450

info@dominoaccounting.co.uk

Contact

01204 771450

info@dominoaccounting.co.uk

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