Smaller Business Service

Our Smaller Business Service is a fixed price package of services suitable for smaller owner managed businesses.   It covers Sole Traders, Partnerships, LLPs and Companies.

We offer two levels of service, “Annual” and “Continuous”:

• The Annual service is the year end accountancy and tax essentials needed by business owners, along with being on hand for adhoc queries as they arise and a reassuring eye over the year end position.
• The Continuous service builds on this with more support in year for those who want the reassurance of an accountant looking over their figures regularly, and assistance in submitting VAT and/or Making Tax Digital (MTD) returns.

Whitefield Tax Fees for Smaller Businesses Service
	Sole Trader		Limited Company
Annual Turnover	Annual Service	Continuous Service	Annual Service	Continuous Service
up to £25,000	£450 pa+vat	£650 pa+vat	£675 pa+vat	£875 pa+vat
up to £50,000	£650 pa+vat	£850 pa+vat	£800 pa+vat	£1,000 pa+vat
up to £100,000	£850 pa+vat	£1,050 pa+vat	£1,000 pa+vat	£1,200 pa+vat
over £100,000	By special quotation
All turnover and fee amounts are annual, and VAT exclusive
Turnover is your vat exclusive turnover from self employment and/or rents received from property.
LLPs are priced the same as Companies
Partnerships – £200+vat additional fee a year for first partner, then £100+vat a year for each additional partner

Which Service Level do I need?

The principle difference between an Annual and Continuous service level is that within the Continuous Service we check your records quarterly and file quarterly returns for VAT and Making Tax Digital (MTD), where necessary – there is a lot more hand holding for those who have quarterly filing obligations with HMRC, or who want the reassurance of a regular check over.

• VAT registration is only madatory if your turnover is over £90,000.
• Making Tax Digital for Income Tax only applies to Sole traders, and is being phased in over the next three years for business with a turnover above £20,000 – Guide to Making Tax Digital for Income Tax.
• For both VAT and MTD thresholds are based on turnover, not profit, i.e. before deduction of expenses.

We’ve set out below in more detail the Service Scope and Terms for these packages.

Interested in moving forward? – Visit our Join Us page for the next steps

If you need something more then we can offer bespoke quotations to cover most needs, including multiple businesses and extra day to day support with accounting.

You need to allow for software costs on top of our fees:

• Our recommendation is FreeAgent, which we feel has the right balance of features and usability.
• However we are open platform and will work with your choice of software where possible.

We are happy to support the use of Spreadsheets, however if you have MTD filing obligations then you will need “Bridging Software” to connect to HMRC.  Options are:

• Purchase and use Bridging Software yourself.  The product we recommend is Vital Tax.
• We can deal with filing for you.  You will need to have one of our Continuous Service packages and we charge £100+ vat /year for access to software and connection into your spreadsheet.

 

Service Scope and Terms

Annual v Continuous - What Does the Service Cover?
Sole Traders - Annual Service
What We Look After	Your Tasks
We look after your year end accounts and tax returns under Self Assessment. We are on hand for queries and questions during the year.	You are responsible for keeping your day to day accounting and tax records. You are responsible for choosing and subscribing to suitable accounting software, where necessary  – our recommendation is FreeAgent but we are open platform. You are responsible for any quarterly submissions for VAT or MTD Income Tax.
Sole Traders - Continuous Service
What We Look After	Your Tasks
We look after your year end accounts and tax returns under Self Assessment. We are on hand for queries and questions during the year. We will check your accounting and tax records quarterly, and make quarterly submissions for VAT or MTD Income Tax.	You are responsible for keeping your day to day accounting and tax records. You are responsible for choosing and subscribing to suitable accounting software, where necessary  – our recommendation is FreeAgent but we are open platform.
Limited Company - Annual Service
What We Look After	Your Tasks
We look after your year end accounts and Corporation Tax returns. We look after directors Self Assessment, and regular PAYE / NI for directors. We are on hand for queries and questions during the year.	You are responsible for keeping your day to day accounting and tax records. You are responsible for choosing and subscribing to suitable accounting software, where necessary  – our recommendation is FreeAgent but we are open platform. You are responsible for any quarterly submissions for VAT. You are responsible for the annual Confirmation Statement filing at Companies House (available as an add on)
Limited Company -Continuous Service
What We Look After	Your Tasks
We look after your year end accounts and Corporation Tax returns. We look after directors Self Assessment, and regular PAYE / NI for directors. We are on hand for queries and questions during the year. We will check your accounting and tax records quarterly, and make quarterly submissions for VAT.	You are responsible for keeping your day to day accounting and tax records. You are responsible for choosing and subscribing to suitable accounting software, where necessary  – our recommendation is FreeAgent but we are open platform. You are responsible for the annual Confirmation Statement filing at Companies House (available as an add on)

And here are the terms for these services:

• See Quotation Guide for full details.
• This is a Fixed Fee level, but Fair Use Policy applies.
• Fee invoiced and payable on completion of Self Assessment (Sole Traders) or Annual Accounts/Financial Statements (Companies) Self Assessment.  Monthly payment available.
• Within these fees we would normally include other income streams such as employments and rental income; more complex circumstances would need bespoke pricing.
• Fee Indexation applies for the third year we have acted for you onwards

 

 

Fair Use

Our fixed fee packages are priced to cover the typical service level a client needs.  In any given year some clients will need more support or service, others less, and our fees balance this.

However occasionally a clients service needs, or the complexity of their requirements, will go beyond that anticipated.  Rather than have a long list of exceptions or small print, we operate on a fair use basis.  Where services cannot be accommodated in the fixed fee:

• We will endeavour to let clients know at the start of the engagement, or if not as early as possible.
• We will avoid unreasonable suspension or withdrawal of services at short notice
• We will avoid incurring any material additional charges for clients without authorisation
• We will work collaboratively with clients to resolve the issue

Under our Terms of Business, either party can cancel the contract between us with no notice.