OD accountants

31/05/2026

10/04/2025

Strategic financial planning isn’t just for tough times, it’s for every turning point. Whether growing or regrouping, the right advice brings clarity, confidence and control.



https://www.linkedin.com/pulse/when-why-should-your-business-invest-strategic-growth-niall-fqjke?utm_source=share&utm_medium=member_ios&utm_campaign=share_via

26/03/2025

We often get asked ‘who do you work with?’ And the truth is we have a wealth of knowledge in servicing businesses in many sectors.

Here’s some of the sectors we are currently working with:

✅FMCG
✅Teach start ups
✅SAAS companies
✅Consultants
✅Retail
✅Hospitality
✅Services companies
✅Internet resellers

If you have any questions about whether we could support you, please feel free to get in touch with one of our friendly team using the details below:

Telephone: 0203 137 9887 📞
Email: [email protected] 📧

20/03/2025

Business Expenses Part 2 ⬇️

In the UK, small businesses can take advantage of various tax deductions to reduce their taxable income. Last week we brought you the first part of our series. Here are some more common tax deductions available:

Professional Fees and Subscriptions:
✅Accountant and solicitor fees
✅Subscriptions to professional bodies and trade associations

Marketing and Advertising:
✅Costs of advertising (online, print, radio, etc.)
✅Website development and maintenance
✅Marketing materials (brochures, business cards)

Equipment and Machinery:
✅Depreciation of assets (capital allowances)
✅Repairs and maintenance of equipment
✅Leasing and rental costs

Vehicle Costs:
✅Purchase costs (capital allowances)
✅Running costs (fuel, insurance, repairs)
✅Leasing costs

It's essential for small business owners to keep detailed records of all expenses and consult with an accountant or tax professional to ensure they are claiming all eligible deductions correctly. Tax laws can change, so staying updated with the latest regulations is crucial.

We will bring you more expenses in part 3!🤝

Telephone: 0203 137 9887 📞
Email: [email protected] 📧

14/03/2025

Making Tax Digital: A Guide to Tax Compliance 📈

Introduction
Making Tax Digital (MTD) is a UK government initiative aimed at modernising tax administration by digitising records and submissions. It improves efficiency, reduces errors, and simplifies tax filing for businesses and individuals.

What is MTD?
MTD requires businesses and self-employed individuals to keep digital records and submit tax returns using compatible software. The key objectives include minimising tax errors, simplifying processes, improving compliance, and enhancing transparency.

Who Needs to Comply?
✅VAT-registered businesses with taxable turnover above £85,000 (since April 2019).
✅All VAT-registered businesses (since April 2022).
✅Self-employed individuals and landlords earning over £50,000 (from April 2026, with a £30,000 threshold from April 2027).
✅Future expansion to other taxes like Corporation Tax.

How MTD Works
1. Keep Digital Records – Use MTD-compatible software like Xero, QuickBooks, or HMRC’s tools.
2. Use MTD Software – Ensure tax returns are filed digitally and accurately.
3. Submit Regular Updates – Replace annual tax returns with quarterly updates to HMRC.

Benefits of MTD
✅Saves Time: Reduces paperwork and manual entries.
✅Minimises Errors: Ensures accurate calculations and submissions.
✅Improves Financial Planning: Provides real-time tax insights.
✅Eco-Friendly: Reduces paper use.

How to Prepare
1. Check Requirements – Determine if MTD applies to you.
2. Choose Software – Use HMRC-approved digital tools.
3. Train Staff – Educate employees on the new process.
4. Stay Updated – Maintain records regularly to avoid last-minute tax stress.

Conclusion
MTD is transforming tax administration, making it more efficient and accurate. Businesses, landlords, and the self-employed should embrace digital tax filing to stay compliant and reap its benefits. Get started today by choosing the right software and staying informed.

11/03/2025

ACCOUNTANCY MISCONCEPTIONS ⬇️

There are several common misconceptions about accountants and the accounting profession. Let's address some of these misconceptions over the next couple of weeks!

❌Accountants Are Just Number Crunchers:
✅Reality: While accountants do work with numbers, their role is much broader. They provide valuable insights into financial performance, help with strategic planning, ensure compliance with regulations, and can offer advice on cost-saving measures and investment opportunities.

❌Accounting Is Boring:
✅Reality: Accounting can be dynamic and interesting, involving problem-solving, data analysis, and strategic decision-making. Accountants work in various industries and can specialize in areas such as forensic accounting, environmental accounting, and financial planning, making the field diverse and engaging.

❌All Accountants Do Taxes:
✅Reality: Tax accounting is just one specialty within the field. Many accountants work in audit, management accounting, financial analysis, consulting, and other areas. Not all accountants handle tax-related work.


Follow on for part 2!

Telephone: 0203 137 9887 📞
Email: [email protected] 📧

03/03/2025

DATA MIGRATION SERVICES 📈

OD Accountants can assist with all aspects of the migration of your current accounting software to a platform more suited to your needs.

The processes include:

MAPPING CURRENT ACCOUNTING PROCESSES
⬇️
IDENTIFYING KEY REPORTING REQUIREMENTS
✅Numeric key performance indicators
✅Qualitative Key Performance Indicators
⬇️
AGREEING THE FILES TO BE UPLOADED: DAILY - ANNUALLY
✅Test files to be uploaded
⬇️
UPLOADING FILES TO BE TRANSFERRED
✅Clients
✅Suppliers
✅Nominal codes
✅Service and product codes
✅Recurring invoices
⬇️
DATA CLEANSING
⬇️
NOMINAL LEDGER GROUPING
⬇️
TRAINING
✅Staff
✅Report design
⬇️
REPORTING TEMPLATE DESIGN IN NEW SOFTWARE
⬇️
APP TESTING
✅Sourcing
✅Mapping
✅Report design
⬇️
SIGN OFF MEETING

Whatever your requirements, contact us on 0203 137 9887 to see how we can help your business grow.

28/02/2025

Tax Myths Busted: What Business Owners Get Wrong

Are tax myths costing you money?

Many business owners fall for common misconceptions about deductions, audits, and incorporation. Our latest blog debunks these myths, helping you avoid costly mistakes and stay compliant. Learn the facts, protect your business, and optimise your tax strategy today.

https://lnkd.in/eAGdJ-ua

19/02/2025

STATUTORY ACCOUNTS - PROVIDING RELIABLE, AFFORDABLE, EFFICIENT SOLUTIONS ⬇️

We prepare and submit accounts to HMRC and Companies House for companies not requiring an audit.

Your company doesn’t need an audit if it meets any two of these criteria:
✅Turnover up to £10.2 million
✅Assets not greater than £5.1 million
✅Average of less than 50 staff

We also provide the following additional services to limited companies:

HMRC
✅Completion of Corporation Tax returns
✅Calculation of tax
✅R&D claims
✅Annual Investment Allowance claims

COMPANIES HOUSE
✅Company registration
✅Dealing with Companies House administration
✅Online filing services
✅Annual returns
✅Company officer details / appointment changes
✅Annual accounts or change of accounting reference date
✅Change of name
✅Capital and shareholder details
✅Preparation of abbreviated company accounts
✅iXBRL filing

ADMINISTRATION
✅Appointing a company secretary
✅Maintaining the registered office
✅Board meetings and the annual general meeting (AGM)
✅Complementary roles
✅Keeping company records and documents

Get in touch to find out more ⬇️

Telephone: 0203 137 9887 📞
Email: [email protected] 📧

17/02/2025

As of February 17, 2025, here are the key upcoming tax deadlines for individuals and businesses in the UK:

✅Self Assessment Tax Returns:
April 5, 2025: End of the 2024/25 tax year. Ensure all tax-efficient investments and allowances are utilised by this date.
April 6, 2025: Start of the 2025/26 tax year.
July 31, 2025: Second payment on account for the 2024/25 tax year is due.
October 5, 2025: Deadline to register for Self Assessment for the 2024/25 tax year if you're newly self-employed or have new income to declare.
October 31, 2025: Deadline for submitting paper Self Assessment tax returns for the 2024/25 tax year.
December 30, 2025: Deadline to submit your online tax return if you wish any tax owed (up to £3,000) to be collected through your PAYE tax code.
January 31, 2026: Deadline for online Self Assessment tax return submission and payment of any tax due for the 2024/25 tax year.

📈Limited Companies:
Nine months after your company's financial year ends: Deadline to submit annual accounts to Companies House.
Nine months and one day after your company's financial year ends: Deadline to pay Corporation Tax.
Twelve months after your company's financial year ends: Deadline to file the Company Tax Return (CT600).

🤝Employers and Payroll:
April 6, 2025: Update employee payroll records for the new tax year.
April 19, 2025: Deadline to submit the final Full Payment Submission (FPS) for the previous tax year and pay any outstanding PAYE and National Insurance contributions.
May 31, 2025: Provide P60 forms to all employees on payroll as of April 5, 2025.
July 6, 2025: Submit P11D and P11D(b) forms reporting employee expenses and benefits, and provide copies to employees.
July 19, 2025: Deadline to pay Class 1A National Insurance on expenses and benefits (if paying by post).
July 22, 2025: Deadline to pay Class 1A National Insurance (if paying electronically).

❗️Value Added Tax (VAT):
One month and seven days after the end of your VAT period: Deadline for submitting VAT returns and payments. For example, for a VAT period ending on March 31, 2025, the payment is due by May 7, 2025.

Staying informed of these deadlines is crucial to ensure compliance and avoid potential penalties.

For personalised advice so you never miss a thing, get in touch.