City Digital Accountancy Ltd
RM8, Dagenham
(4)
City Digital Accountancy LtdRM8, Dagenham
(4)
We are a team of qualified accountants who offer a wide range of services, from simple tax advice to full accounting services. We use the latest cloud-based software to provide our services to small and medium-sized businesses. We offer free phone support and a free initial consultation.
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Verified business
4 customer reviews
Bilal
Have been using them for the pas few months and have found them to be very efficient. Highly recommended.
Mirco
Tax Preparation
Fast and courteous. Well knowledgeable. Will use his services in the future.
ralph anthony scalpello
Accounting
Did a very efficient job very pleased with his work and pleasent tell manor
Digimedia consultants Ltd
I have been City Digital Client for over a year and they are very professional and hard working. They have never let me down and always promptly respond to my questions. I would highly recommend them for Accounts maintained and book keeping More...
What kind of accounting services do you provide?
We are licensed accountants who provide a wide range of accounting services to small and medium-sized businesses. We use the latest cloud-based software and offer free phone support and a free initial consultation.
We are committed to reducing our clients' tax bills. If you are interested in saving money, please call or email us for a free initial consultation.
Our services include:
Self-assessment tax returns
Limited company formation
VAT services
Bookkeeping
Payroll
Subcontractor CIS services
Financial accounts and corporation tax
Capital gains tax
Inheritance tax
Tax planning
Making Tax Digital
For a free consultation, please contact us at02081337717.
Why is it so important for businesses to hire a great accountant?
There are many reasons why it is important for businesses to hire a great accountant. Here are a few of the most important:
Financial accuracy and compliance: Accountants can help businesses to ensure that their financial records are accurate and compliant with all applicable laws and regulations. This is essential for businesses of all sizes, but it is especially important for small businesses that may not have the resources to manage their finances in-house.
Tax planning and preparation: Accountants can help businesses to reduce their tax liability by developing and implementing tax planning strategies. They can also prepare and file tax returns on behalf of businesses, ensuring that all deadlines are met and all required information is submitted accurately.
Financial reporting and analysis: Accountants can help businesses to generate financial reports that provide insights into their financial performance. They can also analyze this data to help businesses make informed business decisions.
Bookkeeping and payroll: Accountants can help businesses to manage their bookkeeping and payroll functions. This can free up business owners and managers to focus on other aspects of their business.
Financial advice and guidance: Accountants can provide businesses with financial advice and guidance on a variety of topics, such as budgeting, forecasting, and investment. This advice can help businesses to make better financial decisions and achieve their financial goals.
In addition to these specific benefits, hiring a great accountant can also give businesses peace of mind. Knowing that their finances are in the hands of a qualified professional can allow business owners to focus on other aspects of their business, such as growing sales and expanding their operations.
Here are some tips for businesses when choosing an accountant:
Look for a qualified accountant who is licensed and has experience working with businesses in your industry.
Ask for references from other businesses and individuals.
Interview multiple accountants to find the one who is the best fit for your business.
Make sure that the accountant you choose is familiar with the latest laws and regulations that apply to businesses.
Hiring a great accountant is one of the best investments that a business can make. Accountants can help businesses to save money, improve their financial performance, and make better business decisions.
What do you love most about your job?
I love helping businesses to understand their financial data and to make informed financial decisions. I also enjoy the challenge of solving complex accounting problems and finding creative solutions to help businesses save money and improve their profitability.
Here are some specific things I love about my accountancy tasks:
Helping businesses to grow: I love seeing businesses grow and succeed. By helping businesses to manage their finances effectively, I can play a role in their success.
Solving problems: I enjoy the challenge of solving complex accounting problems. It is rewarding to find solutions that help businesses to save money and improve their profitability.
Learning new things: The accounting field is constantly evolving, and there is always something new to learn. I enjoy staying up-to-date on the latest laws and regulations, and I am always looking for new ways to improve my skills.
Working with people: I enjoy working with people and helping them to understand their finances. It is rewarding to see the look of relief on someone's face when they finally understand their financial situation.
Overall, I find my accountancy tasks to be challenging, rewarding, and meaningful. I am grateful for the opportunity to use my skills to help businesses succeed.
What inspired you to start your own business?
To be your own boss: You may have wanted to start your own business so that you could have more control over your work and your schedule. As a business owner, you can set your own hours, choose your own clients, and make your own decisions about how to run your business.
To provide a better service to your clients: You may have felt that you could provide a better service to your clients if you were not constrained by the policies and procedures of a larger firm. As a business owner, you can customize your services to meet the specific needs of each client.
To earn more money: You may have believed that you could earn more money by starting your own business. Business owners typically have more earning potential than employees because they are not subject to a salary cap.
To have a more challenging and rewarding career: You may have found that working for a larger firm was not as challenging or rewarding as you would have liked. As a business owner, you have the opportunity to grow your business, learn new skills, and make a direct impact on the lives of your clients.
Whatever your reasons for starting your own accounting and tax firm, it is a courageous and exciting step. With hard work and dedication, you can build a successful business that provides you with the satisfaction of knowing that you are helping your clients succeed.
Why should our clients choose you?
Expertise: I have the expertise and experience to help my clients with all of their accounting and tax needs. I am up-to-date on the latest laws and regulations, and i am constantly learning new things.
Personal service: I provide personalized service to my clients. I take the time to get to know my clients and their businesses, and I tailor my services to meet their specific needs.
Affordability: I offer my services at a competitive price. My clients know that they are getting good value for their money when they choose me as their accountant and tax advisor.
Trustworthiness: I am a trustworthy professional who my clients can rely on. I am honest and ethical, and I always put my clients' best interests first.
Communication: I communicate with my clients in a clear and timely manner. I explain complex accounting and tax concepts in a way that my clients can understand. I also keep my clients informed of any changes to the laws and regulations that may affect them.
Can you provide your services online or remotely? If so, please add details.
Yes, I am able to provide my services online or remotely. I can be accessed from anywhere in the world with an internet connection. This makes it convenient for businesses of all sizes to access my services, regardless of their location.
Here are some of the ways I can provide my services online or remotely:
Secure file sharing: I can securely share files with my clients through a variety of cloud-based file sharing services. This allows my clients to easily send and receive documents, such as tax returns, financial statements, and invoices.
Video conferencing: I can hold video conferences with my clients to discuss their accounting and tax needs. This allows me to have face-to-face meetings with my clients, even if they are located far away.
Email and phone support: I am also available to provide support to my clients via email and phone. This allows my clients to get in touch with me when they have questions or need help with their accounting and tax needs.
I also offer a variety of features that make it easy for my clients to manage their finances online. For example, I offer a secure online portal where my clients can view their financial statements, invoices, and other important documents. I also offer online payment processing, so that my clients can easily pay their invoices online.
I am committed to providing my clients with the best possible service, regardless of their location. By offering my services online or remotely, I can make it easy for businesses of all sizes to access my services and get the help they need to succeed.
Here are some of the benefits of using my online or remote accounting services:
Convenience: You can access my services from anywhere in the world with an internet connection.
Cost-effectiveness: Online and remote accounting services are often more cost-effective than traditional accounting services.
Security: I use the latest security measures to protect your data.
Efficiency: Online and remote accounting services can help you to save time and money.
Accuracy: I am able to provide you with accurate and timely financial information.
If you are looking for a convenient, cost-effective, and secure way to manage your finances, I encourage you to consider using my online or remote accounting services. I am confident that I can help you to achieve your financial goals.
What changes have you made to keep your customers safe from Covid-19?
Here are some of the changes I have made to keep my customers safe from Covid-19:
I have switched to providing my services online or remotely. This allows me to avoid face-to-face contact with my customers and reduces the risk of transmission.
I have implemented a number of security measures to protect my customers' data from unauthorized access. These measures include using strong passwords, encrypting data, and using a secure cloud-based file sharing service.
I have educated myself about the latest information on Covid-19 from trusted sources, such as the World Health Organization and the Centers for Disease Control and Prevention. I use this information to keep my customers informed about the latest safety guidelines and best practices.
I am regularly cleaning and disinfecting my workspace and equipment. I am also practicing good hygiene, such as washing my hands frequently and avoiding touching my face.
I am committed to keeping my customers safe from Covid-19. I will continue to monitor the situation and make any necessary changes to my business practices to ensure the safety of my customers and my employees.
In addition to the above, here are some other ways I am keeping my customers safe from Covid-19:
I am offering contactless payment options.
I am disinfecting all surfaces and equipment between customers.
I am encouraging customers to wear face masks and maintain social distancing.
I am offering virtual consultations and appointments.
I am providing customers with hand sanitizer and other personal protective equipment (PPE).
I hope that by taking these steps, I can help to reduce the risk of Covid-19 transmission and keep my customers safe.
Self Assessment Tax Return
The UK has one of the largest tax codes in the world, so preparing even the most straightforward tax return can be complicated. There are various deadlines and responsibilities for taxpayers to be aware of.
The most common reasons that a tax return may be required are as follows:
You are self employed or a partner in a partnership
You are a company director
You have large amounts of savings or investment income
You have untaxed savings or investment income
You own land or property that is being let
Your household receives Child Benefit and you have income in excess of £50,000
You have income from overseas
You have sold or given an asset away (such as a holiday home or some shares)
You’ve lived or worked abroad or aren’t domiciled in the UK
The staff at HM Revenue & Customs are not tasked to advise you on how to organise your affairs and minimise your tax. Therefore, if you want to make sure you are paying the right amount of tax, you should consult a professional.
At City Digital Accountants we use HM Revenue & Customs-approved software to:
Complete your tax return
Calculate your tax liability
File the return online
Liaise with you on the amounts to be paid and when they are due
As part of the above service, we can analyse your self assessment tax return to see if any tax savings can be made and we can also review the form to see if there are any anomalies that need to be addressed before the return is submitted.
This process helps to minimize your risk of a HM Revenue and Customs inquiry into your tax affairs. If you are experiencing cash flow problems, we can explore the possibilities of deferring your tax payments or negotiating a payment plan with HM Revenue and Customs on your behalf.
By giving you a fixed, competitive price, we can take the worry away when it comes to self assessment tax returns; allowing you to concentrate on running your business.
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Bookkeeping
City Digital Accountants provide accurate and comprehensive bookkeeping services to suit your needs. Everything you would expect from a professional bookkeeper
It may feel like you can save money by doing everything in your business yourself, however using a local bookkeeper can actually save you more money and time in the long run. These savings come from a reduced level of risk of human error, years of experience working with many other clients, no missed payments to HMRC or missed tax deadlines. Add to this the benefits of tax planning and business reporting you’ll see that choosing a local bookkeeper is one of the best decisions you can make.
At City Digital Accountants, we provide you with a range of bookkeeping services which include using the latest cloud software and apps, removing manual record keeping tasks and improving your overall efficiency.
We can set you up on a secure, cloud-based system that makes keeping on top of your bookkeeping much easier.
You can benefit from:
Simple to use apps
Real-time, valuable insight into your business
Smoother process for storing your records
More control over your numbers
Better commercial decisions
Greater foresight to grow your business
Time back for you either in the business or at home
We will explain what records are required and what you can claim for. With our digital bookkeeping solutions including Xero, all you need to do is simply send us your paperwork through smartphone apps such as Receipt Bank, via email, via post.
We will then record all of your business’s transactions and give you 24/7 access. We can also prepare regular management accounts to help you manage your finances, your customer and supplier account balances, stock levels and if you are trading as a company, we will allow you to plan your dividends.
Let us take away the hassle of bookkeeping, so you can focus on growing your business. Call us today on 07894389994 or complete our online enquiry form.
Annual Accounts
Year end accounts often form the basis of your Self Assessment tax return and provide a valuable insight into your business.
For sole traders and partnerships, year end accounts will form the basis of the business owners’ self assessment tax return.
For a partnership, the year end accounts will also state the balance on each partner’s current account. For owner-managed limited companies, the limited company accounts will house details of the directors’ salaries and the dividends paid to shareholders, which will need to tally with their self assessment tax return.
The year end accounts provide invaluable information about your business. You can see if the margin on your sales prices is set appropriately and how the latest performance compares to last year. Movements in sales and expenses are laid bare, allowing you to make better decisions in the future. Anomalies are highlighted and can then be investigated. Having year end accounts brings you closer to your business and will help drive success.
Banks will also prefer to see a set of accounts for self employed applicants looking to raise finance or apply for a mortgage.
Deciding on a Year End
Limited companies, partnerships and sole traders are free to pick whatever year end they like.
Many business owners will pick a calendar year or the tax year (either 31st March or 5th April). Picking the tax year will make your tax liability based on the latest finalised accounts and therefore as current as possible. Consequently, some business owners prefer to have a tax year end, because they have a better feel for what their tax liability might be. Opting for the 31st March or 5th April will also avoid any complicated overlap relief calculations for sole traders or partners.
Alternatively, you might choose a year end that suits your business – a quiet time of the year when you can have the time get everything together: count up stock and summarise your unbilled work, etc.
If you have other business interests, think about making the year ends all the same. This means the deadlines are easier to remember because they will be similar but does also mean they all come at once!
You should look to prepare sole traders accounts and partnership accounts well ahead of the tax return deadline of 31st January. Companies typically have nine months from their year end to complete their accounts, but it’s always best to check on Companies House’s website what the company accounts filing deadline is.
Give yourself as much time to prepare the accounts as possible. Rushing can lead to errors and there may be receipts or bank statements you need to find. It also allows you to consider if you’ve claimed everything you’re entitled to and whether there are any tax planning opportunities available.
Bookkeeping
We can prepare your accounts from whatever bookkeeping records you have – whether they be computerised, spreadsheets, a cashbook or a bag of receipts. And we can advise you on how to strengthen your record keeping procedures, which in turn will help you run your business more effectively.
It goes without saying that your accounts will be prepared in accordance with accounting standards and we will check that you are claiming everything you are entitled to.
Whether you are a sole trader, partnership or limited company, letting us prepare your year end accounts will relieve you of what can be an extremely stressful and time-consuming exercise.
We are here to help
Our accountants offer competitive pricing with flexible appointment times and are dedicated to offering a professional, friendly service.
If you need assistance with your year end accounts, simply call our friendly team now on 07894389994 or drop us a line using our online enquiry form.
VAT Returns
Whether you’re just starting out or have been in business for a long time, City Digital Accountant can help you meet your VAT responsibilities
If you’re just starting out, we can help you decide whether you need to be VAT registered from the outset or not. And we will continue to monitor your situation, so that should it become obligatory for you to register for VAT, we can deal with all of the paperwork for you.
In contrast, we will also monitor your position for when we think you are able to and would benefit from deregistering.
Whether a new or existing business, we will also look at the VAT schemes you are eligible for and establish whether you would be better off adopting one or a mixture of them. Some VAT schemes can lead to tax savings and a reduction in bookkeeping responsibilities.
We can prepare your VAT return; either from your own bookkeeping records or we can take care of your record keeping and the VAT return. And we will try to ensure that you claim as much VAT as possible, particularly on contentious items such as mixed-use expenditure and motor running costs.
As with other areas of tax, we can act as your Agent for VAT purposes and therefore correspond with HM Revenue & Customs (HMRC) on your behalf. Paper VAT returns are pretty scarce now but our software also allows us to file your VAT returns online with HMRC.
Needless to say, late VAT registration, errors, late VAT returns and late VAT payments can all lead to penalties and possibly interest being charged. So allowing us to take care of your VAT affairs, not only gives you peace of mind, but it should also avoid you wasting your hard-earned cash on penalties and interest.
Corporation Tax
Every limited company that is based in the UK is subject to corporation tax on their profits. Limited companies that are non-UK based can still be expected to pay corporation tax
The first thing you must do is register your company with HM Revenue and Customs (HMRC), using its official forms, so it knows you are liable for corporation tax.
If your company is liable for corporation tax, you must calculate how much profit your company makes for each accounting period and how much corporation tax is payable on those profits.
This information must be reported to HMRC on a corporation tax return form and accounts and tax computations must be submitted to HMRC in support of the return.
There are strict penalties for filing late returns and interest is charged on tax paid late, so it is important that the deadlines, which are determined by your company’s annual accounting date, are adhered to.
City Digital Accountant can assist with the preparation of company accounts, company tax returns and tax computations and will also be able to provide advice on any tax planning areas that may benefit you and your company.
Payroll
At City Digital Accountant we can offer you a full payroll service with plenty of options to suit you and your business.
If your business has expanded and you need to employ more people then it’s understandable to feel daunted by the duties required to run a payroll on top of everything else you need to do. Meeting your obligations as an employer to HM Revenue and Customs (HMRC) can be confusing and time-consuming. Furthermore the increased responsibilities to your employees surrounding auto enrolment pension contributions can really add to the workload.
By working with City Digital Accountant it’s possible to maintain your responsibilities as an employer, while freeing yourself of the day-to-day concerns that payroll can bring.
We can provide you with access to a payroll portal which enables you to easily manage employee working hours, securely store employee information, such as payslips and other related documents plus manage all annual leave for your staff using the employee calendar provided within the payroll portal.
Equally if you don’t wish to use these online facilities we can offer you a payroll service that is tailored to your needs.
Either way, we can oversee your payroll processes, costs, calculations and deadlines to take care of everything for your business.
For a free initial meeting to discuss all your payroll or employment related needs, please call us today on 02081337717 or drop us a line using our online enquiry form.
