M Watson Accountancy Services Ltd

Professional and Affordable Accountancy and Taxation Services for the Smaller Business

                        office@mwatsonaccountancy.co.uk

Telephone 07491 044688

COME AND JOIN OUR EVER GROWING LIST OF HIGHLY SATISFIED CLIENTS!


We are a Small Accountancy Practice, fully qualified, and fully regulated by

The Institute of Financial Accountants, and our mission is to provide professional and affordable accountancy and taxation services. We are specifically aimed at the Smaller Business.




                                           IT'S COMING... 



MTD for ITSA (Making Tax Digital for Income Tax Self Assessment) was first announced back in 2015 and has since then been postponed several times (MTD for VAT became mandatory in April 2019).

The current delay was due to the COVID19 Pandemic and it is now scheduled to go live in April 2024 for the self-employed and also individuals with income from property, and Partnerships are scheduled to start in April 2025. 

It is anticipated that MTD for Corporation Tax will start in April 2026.


All accounting and tax records will need to be processed digitally, using accounting software or at the very minimum kept on spreadsheet, and four quarterly returns will need to be submitted electronically to HMRC, the fourth being the end of year final figures that will decide your final tax liabilities for the year.


You can find a lot of information about MTD ITSA and your responsibilities on the internet.


In due course we will be making the necessary preparations with advice from our software providers and organising clients as necessary to fully prepare them for the major changes to come.




Examples of how we saved money for these type of clients who switched to us recently

(Updated June 2022 - All figures are net of VAT)

Date of Switch

Client Type

Services Provided

Previous Accountant

Total Net Fees

(Yearly)


OUR TOTAL NET FEES

(YEARLY)

March 22

Vehicle Repairer 

(Limited Company)

Annual Accounts & CT600

Directors Personal Tax Return

 £ 1,410


 £ 295

November 21

Online Sports Clothing Sales

(Limited Company)

Annual Accounts & CT600

Monthly Payroll

Quarterly VAT Preparation

£ 3,165


£ 915

November 21

Farm

(Partnership)

Annual Accounts

Partnership & Personal Tax Returns

Monthly Payroll

Quarterly VAT Preparation

£ 1,694


£ 640

July 21

Crane Hire 

(Limited Company)

Annual Accounts & CT600

Weekly Payroll

Quarterly VAT Preparation

Directors Personal Tax Return

£ 1,020


£ 655

May 21

Electrical Contractors

(Limited Company)

Annual Accounts & CT600

Monthly Payroll

Quarterly VAT Return

Quarterly Management Accounts

Directors Personal Tax Returns

£ 2,460


£ 1,000

May 21

Beauty & Clinical

(Limited Company)

Annual Accounts & CT600

Monthly Payroll

Directors Personal Tax Return

£ 1,036


£ 415

Feb 21

Property Rentals 

(Limited Company)

Annual Accounts & CT600

£ 600


£ 295

Jan 21

Specialist Retailer

(Sole Trader)

Annual Accounts

Quarterly VAT Preparation

Personal Tax Return

£ 800


£ 370

Why Choose Us?


We are aimed primarily at the smaller business, new or existing, whether you are a Sole Trader, Partnership, Limited Company or simply an individual that needs to file a tax return.

 

Many existing small companies and businesses are switching to us, and we are consistently hearing the same reasons for changing; increasing fees; frustration at their accountant never being available; telephone calls not returned, never being able to speak with the same person twice........The list goes on!

 

We take a friendly, no-frills approach. We come to you for a consultation or meeting in the comfort of your own home, your office, or at a suitable location of your choice, for example the local coffee shop. We’ll even buy the coffee! Additionally, we offer evening & weekend appointments, which leaves you free to concentrate on what you do best - running your business.

 

If you are currently with another Accountant, we will carry out all the necessary transition for you at no extra cost.

 

How are our fees so competitive?

 

We do not have the same overheads of a typical Accountancy Practice, such as rent, high staff costs etc as we operate from a home office. We can therefore afford to charge much smaller fees whilst still providing the same level of service. Our fees are always calculated fairly, and are not based on the size of your balance sheet!


Our comparison table below demonstrates the savings we have passed on to our clients, without any loss of professionalism or quality.

 

So why not contact us today for a free, no obligation consultation and quote?





 


Our Main Services

Limited Companies

- Preparation of Statutory Accounts 

- Corporation Tax Calculation & CT600 

- Submission to HMRC & Companies House

- Filing of Confirmation Statement (Optional)

Individuals/Partnerships

- Preparation of your Financial Accounts

- Individual/Partnership Tax Calculation

- Submission to HMRC

Payroll Processing

- Staff Payroll Processing

- Directors Salary Processing

- Integration of Auto-Enrolment Pensions (See Below)

- Email Payslips to you and/or your employees


VAT Services

- Full preparation of your VAT returns

- Submission to HMRC via the MTD Platform

- File only service (via Bridging Software)

- VAT Registration Service

Workplace Pensions

Workplace pensions law changed and under the Pensions Act 2008, broadly speaking, all UK employers have to put certain staff into a pension scheme and contribute to it under the process called Auto-Enrolment. It doesn't matter what type of business you operate, if you employ even just one employee you now have certain legal duties.


If you are a payroll client, we will assist you with your obligations as part of our payroll package. For more information, visit The Pensions Regulator Website.


(M Watson Accountancy Services is not responsibile for the content of external websites.)

If your required service is not listed above please ask us.

We may also be able to negotiate bespoke services.

* Should you choose not to become a client after the initial free consultation, any advice given orally in that free intial consultation is not intended to be relied upon unless confirmed in writing by M Watson Accountancy Services Ltd.