Expert Accounting Services for You
Reliable, affordable solutions for all your accounting needs.
Expert Accounting Services for You
Reliable, affordable solutions for all your accounting needs.
About Your Choice Accounting
Our Mission
At Your Choice Accounting we offer essential self-assessment tax return, bookkeeping, and payroll services designed to save you time and ensure compliance.
Whether you are an individual or a business, our tailored solutions provide support you need to stay organized, meet deadlines, and focus on growth.
Professional Accounting Services
Bookkeeping Services
Bookkeeping Services
At Your Choice Accounting, we specialise in providing efficient, accurate, and insightful bookkeeping services powered by Xero, the award-winning cloud accounting software.
Automated Bank Feed & Transaction Processing:
What we do: We connect your business bank accounts and credit cards directly to Xero. This allows for daily, secure automatic import of your transactions. We then meticulously categorise and code each transaction.
Seamless Bank & Credit Card Reconciliation:
What we do: We perform regular, often daily, reconciliation of your bank and credit card accounts within Xero, matching imported transactions to your invoices, bills, and expenses.
Intelligent Accounts Receivable Management (Invoicing & Debtors):
What we do: We create professional, branded invoices directly within Xero, send them to your clients, and track their payment status. We can also set up automated reminders for overdue invoices.
Your Benefit with Xero: Get paid faster! Xero's invoicing capabilities and automated reminders improve your cash flow. You can easily see who owes you what at a glance from your Xero dashboard, making credit control proactive, not reactive.
Real-Time Profit & Loss (P&L) and Balance Sheets:
What we do: We generate and review your P&L and Balance Sheet reports directly from Xero, providing you with a clear, up-to-date understanding of your business's performance and financial position.
Dynamic Cash Flow Statements:
What we do: We produce detailed cash flow statements using Xero's robust reporting features, showing you exactly where your money is coming from and where it's going.
Efficient Payroll Processing (via Xero Payroll):
What we do: We manage your entire payroll process within Xero Payroll, including calculating wages, deductions (PAYE, NI, pensions), processing payslips, and submitting RTI reports to HMRC.
VAT Return Preparation & MTD Submission:
What we do: We track your VAT on sales and purchases within Xero, accurately calculate your VAT liability, and submit your VAT returns directly to HMRC, fully compliant with Making Tax Digital (MTD) requirements.
Seamless Year-End Preparation for Your Accountant:
What we do: Your Xero file is always organised and up-to-date, making year-end accounts preparation incredibly efficient. We can grant secure access to your accountant, simplifying their process.
Let's get you set up on Xero. Request a personalised quote for our bookkeeping services.
Payroll Processing
Bookkeeping Services
In today’s fast-paced business environment, efficient payroll management is crucial for any organization. Our payroll services offer a comprehensive suite of solutions that streamline employee salary processing, tax calculations, and statutory deductions. By ensuring timely and accurate payments, we help businesses maintain compliance with HMRC regulations, reducing the risk of penalties and enhancing overall operational efficiency.
In addition to payroll processing, we specialize in providing expert guidance on NEST auto-enrolment for pensions. Navigating the complexities of workplace pensions can be daunting for employers, but our services simplify the process. We assist in setting up and managing pension schemes, ensuring that all regulatory requirements are met, thereby safeguarding your organization against compliance issues.
By leveraging our payroll and pension services, employers can focus on their core business activities while we handle the intricacies of payroll and pension management. Our commitment to precision and compliance not only supports your workforce but also reinforces your reputation as a responsible employer. Trust us to deliver the expertise you need to navigate these essential functions effectively.
Tax Return
Tax Return
Stress-Free Self Assessment. Expert Tax Return Filing for Sole Traders, Freelancers, CIS Subcontractors & Taxi Drivers.
Navigating your annual Self Assessment tax return can be complex and time-consuming. At Your Choice Accounting, we remove the headache, ensuring your tax return is accurate, compliant, and submitted on time. We specialise in helping self-employed individuals, including CIS Subcontractors, Taxi Drivers, Freelancers, and Sole Traders, understand their tax obligations and maximise their legitimate deductions.
Our goal is to give you peace of mind, knowing your tax affairs are expertly handled, so you can focus on what you do best – running your business. We leverage our knowledge of specific industry rules and allowable expenses to ensure you pay only what you owe, and never miss out on potential tax savings.
Self Assessment for Construction Industry Scheme (CIS) Subcontractors
Working in the construction industry as a subcontractor means dealing with the unique rules of the Construction Industry Scheme (CIS). We understand that CIS deductions at source (20% or 30%) can often lead to overpayments, meaning you could be due a significant tax refund.
What we offer CIS Subcontractors:
- Accurate CIS Statement Processing: We'll meticulously review your monthly CIS statements, ensuring all deductions are correctly recorded.
- Maximising Allowable Expenses: We'll identify and claim all eligible business expenses (e.g., tools, materials, travel to site, vehicle costs, training) to reduce your taxable income and maximise your potential refund.
- CIS Tax Refund Calculation & Claim: We'll accurately calculate any overpaid tax due to CIS deductions and ensure your refund is claimed efficiently through your Self Assessment.
- Making Tax Digital (MTD) Compliance: We ensure your record-keeping and tax return submission are fully compliant with MTD rules (if applicable to your income level).
- HMRC Liaison: We can handle communications with HMRC on your behalf regarding your CIS payments and returns.
Your Benefit: No more confusion over CIS deductions or missed refunds. We ensure you get back every penny you're owed and stay compliant with HMRC."
Self Assessment for Taxi Drivers
As a self-employed taxi driver, your vehicle is your business, and understanding what you can claim for can significantly impact your tax bill. From fuel to maintenance, every mile and expense counts.
What we offer Taxi Drivers:
* Comprehensive Expense Review: We'll delve into all your vehicle-related expenses (fuel, insurance, repairs, MOT, road tax, breakdown cover), licensing fees, radio hire, cleaning costs, and professional fees.
* Capital Allowances Advice: We can advise on claiming capital allowances for the purchase of your taxi, spreading the cost for tax relief over time.
* Simplified Expenses vs. Actual Costs: We'll help you determine the most advantageous method for claiming vehicle expenses to ensure you pay the least amount of tax legally possible.
* Accurate Income Reporting: Ensuring all fares, tips, and other income sources are correctly declared.
* Record-Keeping Guidance: Providing advice on how to keep organised records of your income and expenses throughout the year.
Self Assessment for Freelancers
The world of freelancing offers flexibility, but it also means taking full responsibility for your tax affairs. Whether you're a designer, consultant, writer, or developer, understanding your tax position is crucial for financial stability.
What we offer Freelancers:
- Income & Expense Categorisation: We'll help you correctly categorise all your freelance income and identify all allowable business expenses, from home office costs and professional subscriptions to marketing and travel.
- IR35 Considerations (if applicable): While primarily an accountant's role for deeper analysis, we can work with you to ensure your income reporting aligns with any IR35 status considerations you may have.
- Utilising Your Personal Allowance: Ensuring your tax-free allowance is correctly applied.
- Tailored Advice: Guidance on what expenses are specific to your freelance industry, ensuring no stone is left unturned.
- Proactive Tax Planning: Providing insights into your potential tax liability throughout the year, helping you budget for payments on account.
Self Assessment for Sole Traders
Being a sole trader means you're your own boss, and that includes being responsible for your annual Self Assessment. We work with sole traders across all sectors to simplify this process, from recording initial income to filing the final return.
What we offer Sole Traders:
* Comprehensive Income & Expense Tracking: We'll help you meticulously track all your business income and expenses, ensuring nothing is missed and everything is correctly categorised.
* Allowable Expense Maximisation: From office supplies and utility costs (for home-based businesses) to professional fees and training, we'll identify every allowable expense.
* Simplified vs. Actual Expenses: Advice on whether to use simplified expenses (e.g., for vehicles or working from home) or claim actual costs for the best tax outcome.
* Payments on Account Guidance: Explaining and calculating your Payments on Account to HMRC, helping you budget effectively and avoid penalties.
* Full Self Assessment Form Completion: We will accurately complete and submit your SA100 (main Self Assessment form) and any relevant supplementary pages.
Your Benefit: Take the stress out of tax season. We'll ensure your Self Assessment is completed accurately, on time, and optimised to minimise your tax liability, giving you financial control.
What Our Self Assessment Service Includes for All Clients:
Regardless of your profession, our Self Assessment service is designed to be comprehensive and straightforward:
- Expert Review of Your Financial Records: We'll meticulously examine your income and expense data, whether you provide it through Xero, spreadsheets, or other organised records.
- Identification of All Allowable Expenses:
- Accurate Tax Calculation: We precisely calculate your Income Tax, National Insurance Contributions (Class 2 & Class 4), and any other taxes due.
- Completion & Submission to HMRC: We prepare your full Self Assessment tax return (SA100 and relevant supplementary pages) and securely submit it to HMRC on your behalf.
- Payment on Account Calculation & Advice: We'll help you understand your payments on account for the following tax year and advise on budgeting.
- Deadline Management: We keep track of crucial deadlines (31st January for online submission and payment) to ensure you avoid late filing penalties.
- Direct Communication with HMRC (if needed): We can act as your agent, dealing with HMRC queries on your behalf.
- Peace of Mind: Knowing your tax return is in expert hands, accurate, and compliant.
Ready to simplify your tax year? Get a personalised quote for your Self Assessment Tax Return now.