What kind of accounting services do you provide?
We offer from the basic compliance services to a fully outsourced finance department. We offer bookkeeping, payroll, cloud accounting software and VAT. We are a Silver Partner for Xero. We do personal tax returns as well as advice for individuals and corporates.
You can see our full list of services here https://rjf.uk.com/services/
Why is it so important for businesses to hire a great accountant?
Many business owners whether self-employed or running a limited company fall into the trap of trying to manage their tax affairs by themselves.
On the face of it, things seem simple… but it’s too easy to make mistakes that can cost you dearly!
One of the most common errors DIY accountants make is not claiming back valid expenditure claims.
HMRC guidance notes on their website aren’t the easiest things to understand, so even if you have a good idea of what you can claim. Working out the precise details so you don’t over or underclaim can be a minefield.
A Simple expenditure you can claim- Mileage is a big one many people miss out on. It’s perfectly acceptable to claim for all your business-related trips.
EG: To meet clients. (you can’t, however, make mileage claims for travel to or from a permanent
place of work)
The rate you can claim in a car is 45pence per mile up to 10,000 miles. Anything over 10,000 miles is claimed at 25pence per mile.
On a motorbike, the claim is fixed at 24pence per mile regardless of distance travelled.
We’ve successfully reclaimed thousands for clients who hadn’t claimed the correct business mileage.
What else can you claim?
Acceptable claims will depend on your individual business but some examples of common claims are:
1) Membership fees to a professional body - if you pay a subscription to be part of a professional body as part of your business this can be reclaimed.
2) Trade magazines - If you buy magazines or publications related to your business, these costs can also be claimed.
3) Equipment that you need to run your business or do your job - Most people know that computer equipment can be claimed, but there may be more tools or similar that you need which can be claimed.
4) Workwear - Things like personal protective equipment if you are working in construction eg safety boots, helmets, hi-viz clothing etc can all be claimed
Claiming for things that you shouldn’t:
You can’t claim for anything that’s not necessary for work or to run your business.
We had one client incorrectly claim for suits, his argument was that he needed them to look respectable when meeting clients!
Unfortunately, HMRC doesn’t see it that way and that’s not a valid claim.
You can be penalised and get hefty fines if you get it wrong so it's imperative to get things right.
Paying too much tax & risking a penalty
Often the DIY accountant ends up paying too much tax (or risking a penalty)
That’s where RJF would come in. We’d take the time to question all your expenditure to see what you can claim and what you can’t.
The end result is we save clients thousands in tax.
This means you get your accountant's fee back many times over (which is also tax deductible!)
So it’s a worthwhile investment getting a proper accountant rather than trying to DIY.
What do you love most about your job?
I love helping business grow and offering my advice and experience. I partially like working with startups and early-stage businesses to help them avoid the mistakes I made with businesses I have started.
What inspired you to start your own business?
I saw a market for small businesses that the big firms were not interested in and the mid-size and smaller firms didn't really have any real-life experience. I have been in my client's shoes as I have started businesses, grown them, made mistakes and had some success with selling businesses.
Why should our clients choose you?
We are responsive to clients. We don't keep you waiting for responses. We pride ourselves on customer service.
Our relevant and real life experience sets us apart from other accountancy practices in that our Managing Partner, Rob Jones, has been in the front line of businesses for many years. Working as both a financial director and investor for various companies, across a wide range of industries, Rob has a hands-on understanding of the best ways to make businesses more profitable.
Rob has passed this expertise on to the staff here at RJF, some of whom have worked with him within companies where he has been the FD. That’s why we’re confident that we offer a superior service to your typical accountancy firms. We’re much more than that - we are a real business partner.
By choosing RJF as your financial and business support, you’ll never have to deal with chasing your accountant for information, waiting months for year-end figures or having issues suddenly sprung on you - because we preempt all that.
More than simply an accountant, RJF serves as a trusted friend, financial coach and profit growth expert for you and your business. Whether you're a startup or an early stage business in Manchester we provide high impact business and financial advice to make you more productive and to give you the freedom to focus on the day-to-day running of your enterprise.
Not only will we outline how your business is performing, we will use proven financial strategies to show you ways to grow your business and your profits. Our advice is always data led and underpinned by our extensive financial experience and our use of the latest pioneering software. At RJF, we don’t just serve as your accountant, we’re a true extension of your business.
Whether you’re looking for help raising finance, need real time data to make strategic business decisions, need advice on overseas transactions or just someone to bring your finances up to date, talk to us at RJF.