Cheap Accounting Services for Micro Businesses
Did you know that over 75% of businesses in the UK are owned and operated by a single person? That might be a sole trader or a single director of a Ltd Company. From plumbers to dog walkers, graphic designers to florists; micro businesses are everywhere.
A micro business is generally considered to be a business that has fewer than 10 staff and turns over less than £632,000. Based on that definition, a whopping 95% of UK businesses fall into that category!
Accountancy Support for Micro Businesses
At Mazuma we designed our service with micro businesses in mind. Our accounting systems are set up specifically to deal with the needs of micro businesses, allowing business owners more time to run their businesses and less time on accounts and tax admin.
We are the UK’s leading specialist accountants for micro businesses and have been helping sole traders and Ltd Companies with their accounts and tax for over 15 years.
Unlike other Accountants who deal with larger businesses, or who aren’t specifically set up for the micro business sector, we don’t insist you use software like Xero or Quickbooks. In fact you don’t have to use any software at all unless you really want to! While plenty of our clients like to use their own software to keep a track of things, it’s not necessary with a Mazuma subscription.
We use a cutting edge combination of the latest in-house technology and highly trained staff to deliver you an incredible service that is made just for micro businesses. All you have to do is give us your documents each month and we’ll handle the rest for you using our Accountancy subscription packages.
Our accountancy subscription gives each and every micro business their own dedicated Accountant, from as little as £32 + VAT per month. You can call or email your very own Accountant whenever you need – whether that’s to get some advice on tax deductible expenses or to let us deal with a scary letter from HMRC for you. Your Accountant is there to take care of the numbers while you get on with running your business.
Why Choose Mazuma for Micro Business Accountancy Services?
Flexible Packages for All Businesses
We know that micro businesses may not have the same setup and operation as larger more established companies. Hence, we offer packages to suit specific business models, including limited companies, sole traders and freelance businesses. Just agree to a fixed monthly price based on your budget and requirements, and we’ll continue offering our services for as long as you need.
Hands-off Bookkeeping Service
Managing your business transactions and looking after your small business accounting duties are two jobs you probably don’t enjoy as a micro business owner. By outsourcing these jobs to Mazuma, you free up your time and can focus on the aspects of running your business you enjoy. We’ll take the work away from you and you can trust us to do it well.
Your Own Dedicated Accountant
When you sign up for our small business accounting services, we’ll assign a dedicated accountant to work with you going forward. Having your own dedicated accountant means having an expert to turn to if you have any questions or concerns. Your accountant will get to know you and your business over time, enabling them to offer the most helpful, tailored support.
No-Stress Tax Returns
One of the least enjoyable accounting responsibilities for small business owners is submitting tax returns. Whether you only have yourself to worry about or run a limited company and have corporation tax returns to submit, Mazuma’s expert accountants can help. We’ll complete your tax returns accurately and on time, ensuring you’re compliant with HMRC.
Our accountants use award-winning online accounting software to sort your accounts, tax and VAT returns. This software simplifies the process of managing your monthly finances. And the best thing is that you won’t need to do it yourself. All we ask is you send us your bills, receipts and invoices, either online or in the post (it’s free).
Micro Business Experts
Having served small businesses for more than 15 years, rest assured that our accountants know what start-up companies and small businesses are looking for in our service. We’re experts in all aspects of running a small business, so you can put your trust in us to look after one of your most important investments.
Making Tax Digital-Compliant
When the new Making Tax Digital (MTD) regulations come into play, we’ll be ready. The new MTD platform will apply to all businesses, and you may face a fine or penalty if you fail to keep up with your digital recordkeeping. When you use Mazuma as your small business accounting firm, you can feel confident we’ll ensure you’re compliant with the new MTD rules.
Managing your own small business accounts can be challenging to stay on top of, and the occasional mistake or slip-up is likely. Outsourcing your accounting duties to our team of qualified accountants, who use top-of-the-range automated software for your bookkeeping, can significantly reduce the potential for errors on your tax and accounts.
See which package suits you best with this quick quiz!
Choose Mazuma as Your Micro Business Accounting Experts
One of the best things about running a small business is that you retain much more control over your spending, clients, and operations in comparison to a large company. However, these advantages can be overshadowed by the challenges of small business owners, especially accounting and finances.
With Mazuma’s small business accounting services, you can stay on top of your accounting duties, file and pay your taxes on time, manage payroll, and more. On top of this, we even help new small businesses prepare the documents they need to register on HM Revenue and Customs (HMRC) and Companies House is applicable.
Our qualified accountants are on hand to manage your bookkeeping and accounting duties in their entirety, giving you more time to focus on providing the best possible product or service to your customers.
The costs of hiring a full-time accountant is too high for most small business owners. However, at Mazuma, instead of paying the salary of an extra staff member, you can simply pay a fixed monthly fee for our accounting service. We’re much more affordable than a traditional accountant, leaving you more money to spend on growing your business.
When you become a Mazuma customer, you’ll be paired with your own dedicated accountant, who will manage your accounts and offer tailored financial advice. In this way, you’ll be able to get on with the jobs or pursue opportunities you enjoy while we manage your bookkeeping accurately, efficiently, and securely.
In fact, there’s plenty that we can do for your small business. For example, we can support you in dividend and salary planning, deal with your company payroll, and submit your corporation tax returns if you’re a limited company. And in addition to managing your taxes and VAT (if applicable), we can also file your annual accounts and offer advice to help you minimize your tax liability.
Whichever accounting services you choose, you’ll have a choice of how to send us your proof of income and business expenses: email, post, online. So, instead of leaving your accounts until the last minute, you can send us your receipts, invoices and bills as you receive them or together at the end of the month. It is that simple.
Moreover, you can leave the more complicated and time-consuming tasks to your personal accountant. They’ll file your tax returns, plan for tax efficiency, ensure that your business remains in a solid financial position, and prepare profit and loss statements on your behalf. You won’t have to spend hours frowning at spreadsheets when you work with Mazuma.
What Are Business Accounting Services?
Business accounting services offer a money management solution for small businesses. They will use online accounting software to ensure that your business’s income and expenses are accurately recorded for Companies House and tax purposes. At the same time, an accountant won’t control what your business spends and why.
What’s more, our chartered accountants offer a comprehensive package of small business accounting services:
- Management accounts service
- Tax returns
- Invoicing software
- Payroll and VAT services
- Statutory year-end accounts
You can choose as many services that apply to you from the above list. Now, in case you don’t know which services are for you, don’t panic! We’re happy to discuss your situation and suggest the best services to help your business achieve its goals.
What Accounting Services Do Small Businesses Need?
Most small businesses benefit from basic accounting services, including monthly management accounts and end-of-year tax services. That said, our qualified accountants can also register your company on HMRC and Companies House, provide tax planning and tax efficiency support, and offer business advisory and support to help you to scale your business.
How Much Should a Small Business Pay For Accounting Services?
This depends on the exact services you’re looking for. It’s best to choose an accounting firm that offers a fixed monthly price for a rolling accounting package. Things can get quite expensive if you’re paying an hourly rate for an accountant, especially when their workload will be naturally higher, such as during tax season. At Mazuma, we offer free tax returns for small businesses that use our accounting service for an entire year.
What Types of Micro-Businesses Does Mazuma Work With?
We work with all small business structures, including self-employed sole traders, limited company models, limited liability partnerships, and more.
If you’re a limited company, your small business or start-up will have more financial responsibilities to keep up with, and we’ll make sure that you’re supported with our monthly management accounts service. We’ll pair you with a dedicated accountant who has experience helping businesses like yours reach their full potential.
Is There a Minimum Contract Period?
No, there’s no minimum contract period when you sign up with our online accountancy firm. All you’ll need to do is pay our pre-arranged fixed monthly fee. You’re not obliged to be a Mazuma customer for a minimum set period.
If I Leave Mazuma Mid-Way Through the Year, Will I Be Entitled to a Refund?
No. If you leave Mazuma in the middle of the year and haven’t reached your company year-end, you’re not entitled to receive a refund for the months of service you have already paid for. Similarly, you’re not entitled to a refund for the work that has already been carried out for you. As we charge a flat monthly fee, not a yearly fee, you can simply stop paying for our service at the end of the current month.
What Happens if I Get Started With Mazuma Part-Way Through the Financial Year?
First off, you can join our accountancy company in the middle of the financial year, so don’t worry about waiting until the beginning of the following year. This means that our accountants will catch up with bookkeeping and accounts to get them up to date.
But, you would be charged for the months of catch-up that are required. However, as soon as you’re up to date, you’ll just need to pay a fixed monthly price for our service. We just ask that you have received our accounting service for one year or have made the equivalent of 12 monthly payments so that we can complete your year-end accounts and tax returns.
What if I Need to Switch Accountants?
If you’re moving from your old accountancy firm to us, we can make the experience as simple as possible. What we’ll do is contact your existing accountant and request to send over your records. You don’t need to do any of the chasings. On the contrary, we’ll handle the process from start to finish, obtaining all the info we need to sign in to HMRC and manage your accounts on your behalf.
Will I Need to Use Online Accounting Software With Mazuma?
No. We use the best accounting software on behalf of our small business clients. We know that finding the time to get to grips with online accounting software isn’t feasible for most small business owners. For this reason, we only ask that you send us your receipts, bills and invoices every month. You can leave the rest to us.
Can Mazuma Help With Tax Efficiency?
The answer is yes! Mazuma can plan for tax efficiency and offer tax efficiency reviews to help you save money throughout the tax year as part of our accounting service.
Remember: We’re here to offer tax advice and help you keep your tax liabilities in order, ensuring your operation is as tax-efficient as possible.
I’m Hoping to Expand My Business in the Next Few Years. How Can Mazuma Help?
At Mazuma, our small business services are flexible. And they always will be. If you need to increase your services as your business grows, or you simply have more business expenses and income to account for, we’re here to help.
Our accountancy firm can help your growing business expand and evolve, whether that means switching from a self-employed sole trader to a limited company on Companies House or taking on a team of staff and managing payroll. Additionally, we can hand over your annual accounts, freeing up your time to plan and strategize. At the same time, our dedicated accountant will also offer business advisory and support to help you grow in your sector.
How Do I Get Started With Mazuma?
It’s very simple—no need to call or email our accountancy firm. Simply fill out our free quote form to create an accounting solution that best suits your needs and budget. If you’re happy to continue, arrange to speak to a member of our team at your preferred time. We’ll then pair you with the qualified accountant your business needs and start your monthly bookkeeping and annual accounts.