We serve the following sectors for Accountancy, Taxation and Business Advice:
- Personal Service Companies (PSCs), Freelancers and Contractors, including IR35
- Small Businesses – Companies, Partnerships or Sole Traders
- Private Clients (Individual Tax Payers)
- Yoga Teachers – through our Daughter Business YogaTax
We also offer:
- Business Mentoring
- Our Ask An Accountant offers fixed price advice on an issue from £250+vat
- Bespoke quotes for one off assignments falling outside of these parameters.
Scope of Services
We cover most Accountancy and Tax matters, however we generally do not accept engagements involving:
- Statutory Audit under Companies or Charities legislation
- Accounting for Groups of Companies
- Tax Advisory around Trusts and Complex Estate Planning
- Stamp Duty and related issues including ATED
- Share Incentive schemes and similar, eg EIS, SEIS, Employee Share Schemes
We nearly 40 years experience via Whitefield and predecessor practices in the PSC sector, long before it became as prominent as it is, and before the complexities of IR35.
Our PSC service covers Contractors, Consultants and Freelancers in a variety of disciplines – IT, engineering, design, social work, accounting, legal services, strategic planning, management consulting, to name but a few. There are no particular disciplines we can’t assist.
This service isn’t restricted to people who regard themselves as Contractors / Freelancers, it is suitable for anyone with a company predominantly supplying their own skills and experience.
Our service has flourished by focusing on maximising clients available funds in a safe and sustainable manner, without using controversial tax schemes. We work on a fixed fee, currently £1,000 pa + vat, subject to annual indexation.
For more information about our PSC service, see our PSC Services page.
Our small business client base covers a variety of sectors, including leisure, retail, construction and development.
We are happy working with Limited Companies, LLPs, Partnerships and Sole Traders, either local to us on the Isle of Wight or further afield. We are happy to work remotely using technology rather than face to face contact, and have many successful client relationships on that basis.
Our services cover annual accounts, related tax advice and compliance, and general advice and support. When requested we can undertake consultancy engagements, eg business plans, restructuring, succession planning, cash flow forecasting, strategic planning, and we also advise on Company Formations and Business Set Up.
Fees are tailored to client need, but for a typical small business would be in the range of £500 – £1,500 pa plus vat for recurring accounting and tax services dependant on complexity and service need; we prefer to work on a monthly payment, and all our fees are based on fixed quotes to give certainty in your cost management.
Special projects are priced based on value adjusted hourly rate, again on a fixed basis.
We operate a number of fixed fee schemes for clients. These allow us to provide a bundle of services with predictability of cost. Our Smaller Business Service may be of interest to this sector.
Our Private Client service provides tax and accounting services to individuals – typically people with a complexity in their tax affairs such as multiple income sources, small self employments, rental income, capital asset disposals, investment portfolios or similar. This could be as simple as one additional income stream from a rented property, through to complex personal financial portfolios.
Fees are tailored to need and complexity, and are fixed in advance.
Yoga Teachers
We specialise in looking after Yoga Teachers and Studios, as well as others in the Movement, Mind, Body and Therapy world. We Serve this Sector via our Daughter Business YogaTax
Fees and Approach to Work
Most of our work is carried out on a fixed fee basis, with the fee agreed in advance, and subject to our Fair Use Policy.
In most cases payment is via a monthly Direct Debit.
We apply Fee Indexation for the third year we have acted for you onwards.
Our Quotation Guide gives an idea as to what is included in a Fixed Fee, subject to any specific tailored agreement between us.
Typical extras a client may need would be:
- Professional Fee Protection
- Assistance with Companies House filing, including Annual Confirmation Statement
Occasionally additional services and one off assignments need to be priced on a hourly rate: this will vary according to the complexity of the work in hand, but would typically be £125 to £250per hour, plus VAT. Our hourly rates (all exclusive of vat) for non routine work are currently:
- £250 Director
- £125 Manager Grade staff
- £80 Senior technician grade staff
- £40 Junior technician grade staff
all vat exclusive and per hour.
Generally all work is however quoted on a fixed price, and most of our clients simply pay one annual fee in line with our quoted tariffs.
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.
We operate a number of fixed fee schemes for clients. These allow us to provide a bundle of services with predictability of cost.
- Personal Service Company Service – £1,000 pa +vat
- Smaller Business Service – from £450 pa + vat
- Personal Tax Return and Micro Business Service – from £350 pa + vat
- Yoga Teachers Service – from £250 pa +vat for a sole trader yoga teacher, assuming straight forward and no complications, and a range of fixed prices for companies and studios
All figures are plus VAT, and subject to stated terms – we can arrange bespoke quotations where required, for example if required services don’t fit into these bundles.
Fee Indexation applies for the third year we have acted for you onwards.
We offer Business Mentoring aimed at owners of small businesses, and those thinking of starting a small business.
Read more about Business Mentoring
We realise that some people need ad hoc advice from an accountant / tax professional without the commitment of a regular accounting service.
With this in mind we offer Ask An Accountant to provide a fixed fee service for work of this nature, with fees starting from £250 + vat
Read more about Ask An Accountant
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.