How Our Online Accountants Can Help
Zooconomics’ online accountants regularly save our clients thousands of pounds. We do this by making sure that our clients are recording their incomings and outgoings correctly, that they are claiming the allowances they are entitled to, and by making sure they pay themselves in a sensible way.
Many of our clients are startups or self-employed people running their own business for the first time. We help them to avoid mistakes which can come from recording an invoice incorrectly, missing a payment or any of the other simple mistakes which can end up in a chunky tax bill or even a fine. A key part of our affordable accountancy service for startups and small businesses is making sure that our client’s are paying the correct amount of tax and doing it on time.
HMRC’s rules on tax and expenses change regularly and it can be difficult for startups and small businesses to keep track of every change. Our expert accountants keep up to date on all of the latest rules that apply to small businesses and startups so we can ensure our clients are doing things properly.
Some of the clients our online accountants have helped
How our online accountants saved an energy business £6,200
One of our clients is the sole director of an energy company. He tried to do his own self assessment tax return. The figures that he supplied to HMRC resulted in him being given a tax bill of £5,000 which he paid. After our accountants investigated we got this money returned to him by HMRC and secured him a £1,200 tax rebate, giving him a total saving of £6,200.
How our online accountants saved a finance consultant £35,000
One of our clients is a very successful risk management consultant working in the financial sector. He was invoicing his clients through a limited company and had accumulated a significant amount of money in the company bank account. Our accountants calculated the most efficient way for him to pay himself and managed to cut his tax bill to £35,140 less than it would have been if he had taken the money via the PAYE system.
How our online accountants saved an IT Contractor £25,000
One of our clients is a successful IT contractor. He had been invoicing his clients through his limited company and had a substantial amount of money sitting in his company bank account. Our accountants calculated the best way for him to pay himself from his limited company. Using a combination of PAYE and Dividends our client ended up with £25,341 extra in take home pay compared to if he had just used the standard PAYE scheme.
How our online accountants stopped a nurse getting fined £400
We were approached by a staff nurse who was working as a contractor through a limited company. HMRC had issued her with a fine for £400 for not completing PAYE returns on time. Our accountants were able to get her accounts up to date and her fine was quashed.