As a small business owner, managing your finances can feel overwhelming. Having the right accountant by your side can make all the difference. At Simplex Accounting, we understand the unique challenges that small businesses face, and our goal is to simplify the process for you. Here’s a breakdown of how our pricing works and why our approach might be just what you need.
Why Do I Need an Accountant?
If you’ve ever wondered whether you need an accountant, the answer is yes! A good accountant does more than just balance the books—they provide insight, support, and advice to help your business thrive. Whether navigating tax regulations, managing payroll, or simply ensuring your financials are in order, having a professional on your side can save you time, money, and stress.
Why Simplex Accounting?
At Simplex Accounting, we pride ourselves on offering a personalised experience tailored to your specific needs. We focus on simplifying the accounting process, leveraging technology, and empowering you to make informed financial decisions. But don’t just take our word for it—our Google reviews speak for themselves!
How Our Pricing is Determined
Our pricing starts with understanding your business. We assess your needs, identify pain points, and determine the required services and support. We use a clear pricing matrix to ensure our pricing is consistent and aligned with your services. This transparency means you’ll always know exactly what you’re getting and paying for.
Why We Avoid Pricing by Time
Unlike traditional accountants who may charge by the hour, we prefer to charge based on the value we provide, not the time spent. This method encourages you to ask questions or voice your concerns without worrying about additional costs. Our consistent pricing means no surprises and no hesitation to contact us, whether for a quick question or a detailed discussion. We support you fully and do not charge extra for client calls or emails. This approach helps you understand your finances, make informed decisions, and grow your business confidently.
Why Choose Monthly Payments?
We understand that cash flow is crucial for small businesses. That’s why we offer a fixed monthly payment plan rather than charging by the hour or demanding a hefty upfront fee. By spreading the cost over 12 months, you benefit from a continuous accountancy service without worrying about unexpected bills. This approach allows you to budget effectively and ensures that you always know what to expect.
Invoicing and Payment Terms
We invoice every month, and all clients pay via direct debit. This ensures a smooth, predictable payment process. Any initial costs needed to get you up to date at the beginning of our engagement will be stated upfront in the proposal, with payment required before work commences.
What About Negotiating Fees?
In the UK, negotiating accounting fees is rare, especially with services that offer a set monthly cost. With Simplex Accounting, your price reflects the services you choose when you sign up. Our pricing is clear and consistent, so you know exactly what you’re getting—and we’ll never surprise you with hidden fees.
Can I Reduce My Services or Monthly Fees?
Yes, of course. You can request to reduce services at any time. This will take 21 days to take effect, and your payments will then be reduced, as requested.
Are Accounting Fees Tax-Deductible?
Yes, HMRC considers accountancy fees to be an allowable business expense. This means you can claim them as a deduction on your taxes. However, not all fees may qualify, depending on the nature of the work. The good news? If we handle your Self-Assessment tax return, we’ll guide you on what you can and can’t claim, making the process as smooth as possible.
What's Included in Our Services?
Our pricing isn’t one-size-fits-all, but it is consistent, fair, and linked to the size of your business and the specific services you need. This transparency means that when you sign up, you’ll know exactly what you’re paying for and what services are included.
At Simplex Accounting, we offer a comprehensive range of services designed to meet the unique needs of small businesses in the UK. Each service is crafted to give you peace of mind from knowing your finances are in expert hands. Here’s a detailed look at what we offer:
Monthly Bookkeeping
Our Monthly Bookkeeping service keeps your financial records organised and accurate. We handle invoice data extraction, bank reconciliations, and advanced bookkeeping tasks so you can focus on running your business, confident that your financials are up-to-date and compliant, without the stress of managing day-to-day transactions.
Instead of charging by the hour, which can become costly, lead to unexpected bills, and make it hard to budget, we price our bookkeeping services at £1 per transaction in blocks of 25 transactions. For example, if you have 40 monthly transactions, you’ll pay for two blocks (50 transactions) at £1 per transaction. This approach ensures that you pay a fixed rate based on the volume of transactions, making it easier to plan your finances.
We review your transactions quarterly to ensure you’re always in the correct pricing bracket. If your business activity changes—whether you outgrow your current bracket or experience a slower period—we’ll contact you to adjust your bracket accordingly. Rest assured, we never go back, so you won’t face any backdated charges. Any adjustments will be communicated at least a month in advance and supported by your transaction data so you can see the figures and plan accordingly.
Annual Accounts
With our Annual Accounts service, we prepare and file your year-end accounts, ensuring compliance with Companies House regulations. This includes financial statements and balance sheets. Keeping your accounts in order, we help you avoid penalties, gain valuable insights into your business performance, and make informed financial decisions.
Corporation Tax Return
Our Corporation Tax Return service ensures timely and accurate submission of your company’s tax return. We calculate your tax liability, prepare all necessary documentation, and file on your behalf. This minimises your risk of errors, helps you meet deadlines, and potentially optimises your tax position, saving you money.
We simplify your Self-Assessment Tax Return process by preparing and filing your tax return with HMRC. Our service ensures all income, deductions, and allowances are accurately reported. This reduces the risk of errors, helps you avoid penalties, and helps you claim all possible tax reliefs, maximising your refund.
VAT Return
Our VAT Return service manages your VAT submissions efficiently. We prepare and file your VAT returns in compliance with Making Tax Digital (MTD) requirements, handling everything from calculations to documentation. This keeps you compliant with HMRC, reduces the risk of fines, and ensures you take advantage of all VAT reclaim opportunities. Plus, you can enjoy complete peace of mind knowing that we’ll be there to support you through any VAT inspections.
Payroll
Handling payroll in-house might seem straightforward, but it can quickly become complex and time-consuming. Many business owners start by thinking, “I’ll just do payroll myself,” but this approach often leads to headaches and potential errors.
Our Payroll service handles all aspects of employee payroll, including RTI submissions, P45/P60s, and pension auto-enrolment. We ensure your payroll is processed accurately and on time, minimising administrative hassle and ensuring compliance with employment regulations. Given that pension regulators are extremely strict and impose hefty fines for non-compliance, you can rely on us to manage every detail and avoid costly penalties. This allows you to focus on growing your business while we manage your payroll.
By choosing our Payroll service, you eliminate the hassle of managing all the intricate details. For instance, you won’t need to worry about keeping up with employee code changes—we receive these updates directly from HMRC on your behalf, ensuring accuracy and compliance.
We also use BrightPay Connect, a user-friendly platform where you, as the employer, can enter weekly or monthly variable hours on a simple screen. From there, we handle everything: calculations, processing, and holiday management. If you prefer to review and approve payroll before it’s finalised, that’s no problem—our process is designed to be flexible and cater to your preferences.
The benefits don’t stop there. By letting us manage your payroll, you avoid the common pitfalls of DIY payroll, such as paying staff before payroll is run and then having to deal with discrepancies. We ensure everything is done perfectly and on time, saving you work hours each pay period. Plus, your employees can manage their holidays through the platform, and you can approve them with just a click.
No more wasted time, no more stress over payroll errors—just a streamlined process that lets you focus on what really matters: growing your business.
CIS (Construction Industry Scheme)
Our CIS service takes care of all your Construction Industry Scheme needs. We manage monthly CIS submissions, subcontractor statements, and contractor EPS, ensuring compliance with HMRC regulations, accurate deductions and payments, and minimising the administrative burden. Even if there has been no activity, as a registered contractor, you must submit returns monthly, even if they are NIL. With penalties currently set at £100 per month for missed submissions, it’s crucial to have an accountant on hand to stay on top of these returns and meet tight deadlines. This lets you focus on your core construction activities while we handle the compliance details.
Company Secretarial Work
We handle essential company secretarial tasks, including preparing and filing confirmation statements. We stay on top of any changes throughout the year, and two weeks before the due date, we will send you the necessary information for approval and follow-up to ensure we meet the deadline. This service ensures you remain compliant with legal requirements and helps avoid any potential penalties.
Cloud Accounting Software: Xero
We integrate with Xero, a leading cloud accounting software, to streamline your financial management. The cost of Xero is passed directly to you, and you can view these charges on the Xero website. This means your subscription can be paid alongside your accountancy bill, simplifying your financial management. We also offer a discount on Xero if you sign up directly and add us in.
Other Software Costs
In addition to Xero, we use other tools like Dext to enhance our services. The costs for these tools are also passed directly to you, and you can purchase them separately and add us in. This way, you only pay for the software you use, keeping your expenses transparent and manageable.
Free Calls, Emails, and Quarterly Zooms
Unlike many accountants who charge hourly rates for meetings, phone calls, and emails, we do not impose additional charges for these communications. Whether you need a quick question answered or a detailed discussion, our calls, emails, and quarterly Zoom meetings are included in your monthly fee.
What We Expect from Our Clients
We love working with business owners eager to understand their numbers and use our support to grow their businesses. We’re a remote team, which means all our communications happen via calls, emails, or WhatsApp. This allows us to hire top talent nationwide and keep costs down for you.
We also ask our clients to be responsive and open to adopting the best software in the industry. This helps us to deliver the best service and ensures you’re always in control of your finances.
Ready to Get Started?
The best way to see if we’re the right fit for your business is to book a call with us. We’re passionate about the value we can add and would love to answer any questions you have. During the call, we’ll finalise your proposal, and you’ll have all the information you need to make the switch.
At Simplex Accounting, we’re here to support you every step of the way. Let’s work together to simplify your finances and help your business thrive.
ALREADY GOT AN ACCOUNTANT?
Switching accountants can feel overwhelming, but sometimes it’s a necessary step for your business to thrive. Whether you’ve outgrown your current accountant, need more specialized services, or just want a fresh perspective, making the right change can significantly impact your business’s growth and efficiency.
At Simplex, we make the transition smooth and hassle-free. Our team will guide you through every step of the process, ensuring minimal disruption and maximum benefit for your business.
Ready to explore your options? Read our blog, “How to Easily Switch Accountants,” for a simple breakdown of how to part ways with your current accountant and transition seamlessly to a service that truly meets your needs.
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