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Small Business Accountants

Small Business Accountants: directory of firms

A small business accountant is the person who keeps a business on the right side of a calendar it did not design. Self Assessment, VAT quarters, payroll every month, Companies House accounts, the confirmation statement and Corporation Tax all fall due at different points, and none of them move because trading was busy.

Browse small business accountants by city, and see what to check before you hire.

Find small business accountants by city

This kind of work is often limited to licensed or registered professionals. Ask for their licence or registration number before you share any details.

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The first decision is structure. A sole trader must register for Self Assessment once they earn more than £1,000 in a tax year. A limited company brings separate filing duties, public accounts and directors' responsibilities that gov.uk is clear stay with the director even when an accountant is engaged. The right answer depends on profit level, risk, customers and what the owner wants to do with the business, not on a rule of thumb.

The second is VAT. Registration is compulsory once taxable turnover in the last twelve months goes over £90,000, or when you expect to exceed it in the next 30 days alone. After that there are schemes that change the cash flow and the admin, and a choice between them that is worth making deliberately rather than by default.

Sole trader, partnership or limited company

  • Sole trader: register for Self Assessment once earnings pass £1,000 in a tax year; HMRC works out Income Tax and National Insurance from your profits.
  • Partnership: each partner files their own return alongside a partnership return, and the profit-sharing agreement matters more than most people expect.
  • Limited company: separate legal entity, accounts on the public register, Corporation Tax, and director duties that cannot be delegated away.
  • Limited liability partnership: partnership flexibility with company-style filing at Companies House.
  • Changing structure later is possible but has tax consequences on the transfer of the trade, so it is worth modelling before incorporating.

The compliance calendar a small UK business runs on

  • Payroll every pay period, reported to HMRC on or before payday.
  • VAT returns each quarter for most registered businesses, filed through compatible software.
  • Annual accounts due at Companies House nine months after the financial year end, or twenty-one months after registration for a first set.
  • Corporation Tax payable nine months and one day after the accounting period ends.
  • Company Tax Return due twelve months after the accounting period ends.
  • Confirmation statement at least once every twelve month review period, with fourteen days after the period to deliver it.
  • Self Assessment for the owners, with online returns and payment due by 31 January.

VAT registration and the schemes worth considering

Registration is required when total taxable turnover for the last twelve months goes over £90,000, in which case you must register within 30 days of the end of that month. It is also required when you expect turnover to exceed £90,000 in the next 30 days alone, with the effective date being when you realised it would.

The Cash Accounting Scheme lets you account for VAT when customers pay you and reclaim when you pay suppliers, and is open to businesses with VAT taxable turnover of £1.35 million or less. It suits businesses that carry slow-paying customers.

The Flat Rate Scheme charges a fixed percentage to HMRC and is available where VAT turnover is £150,000 or less excluding VAT, with input VAT generally not reclaimable except on certain capital assets. HMRC's own guidance recommends talking to an accountant before deciding, because the better scheme depends on your margin and your purchase profile.

Making Tax Digital and the timetable that now applies

All VAT-registered businesses must already keep digital VAT records in functional compatible software and file from it, with only narrow exemptions such as insolvency or genuine impracticality.

Making Tax Digital for Income Tax is arriving in stages for sole traders and landlords, set by qualifying income: over £50,000 in the 2024 to 2025 tax year from 6 April 2026; over £30,000 in 2025 to 2026 from 6 April 2027; and over £20,000 in 2026 to 2027 from 6 April 2028, with legislation confirming that final stage.

The practical change is frequency. Quarterly updates mean records have to be current all year, which usually means committing to software and a monthly routine rather than a January marathon.

Records and software that make the rest of it work

  • A business bank account separate from personal spending, which removes most coding disputes at a stroke.
  • Cloud accounting software with a live bank feed, since digital records are now a requirement rather than a preference.
  • Receipt capture, because a deduction without evidence is a weak position in an enquiry.
  • Digital links between any spreadsheets and the filing software; cut and paste does not count as a digital link.
  • Company accounting records kept for six years from the end of the financial year they relate to, and self-employed records for five years after the 31 January deadline.

Management information a small business should see monthly

  • Profit for the month against the same month last year, not just the year to date.
  • Cash position and the forward commitments already made against it.
  • Debtor days and the list of invoices nobody has chased.
  • Tax set aside: VAT collected, PAYE due and an estimate of Corporation Tax accruing.
  • Gross margin by product, service line or job, which is where most small businesses are quietly losing money.

In-house finance or an outsourced accountant

An outsourced firm brings a team, software licences and cover for holidays and illness, and takes responsibility for filings it has been engaged to make. It does not sit in your business and will only know what you tell it.

An in-house bookkeeper knows the customers, the jobs and the quirks, and spots problems in real time. They are also one person, and small businesses often discover that when that person leaves.

The common middle ground is an in-house person doing the daily posting with an external accountant reviewing, preparing accounts and handling tax. Whichever you pick, put in writing who files what, because the gap between the two is where deadlines get missed.

Mistakes that cost small businesses the most

  • Crossing the VAT threshold without noticing, because turnover is watched annually rather than on a rolling twelve months.
  • Spending VAT and PAYE money that was never the business's to spend.
  • Taking money out of a company without recording whether it is salary, dividend or a loan.
  • Paying Corporation Tax from a guess and finding the real figure three months later.
  • Letting the confirmation statement lapse, which can lead to a financial penalty and ultimately to strike-off.
  • Keeping no records of a decision, so an HMRC question years later has to be answered from memory.

Small Business Accountants: frequently asked questions

When do I have to register for VAT?

When your total taxable turnover for the last twelve months goes over £90,000, in which case you must register within 30 days of the end of that month. You must also register if you expect to exceed £90,000 in the next 30 days on its own. Non-UK based businesses supplying the UK must register regardless of turnover.

Should I be a sole trader or a limited company?

It depends on profit, risk and what you want from the business, and it is worth modelling rather than guessing. A sole trader registers for Self Assessment once earning over £1,000 in a tax year. A company adds public accounts, Corporation Tax and director duties that gov.uk confirms remain legally yours even when you employ professionals.

Is the Flat Rate Scheme worth joining?

Only if the arithmetic works for your business. It is open where VAT turnover is £150,000 or less excluding VAT, and you generally cannot reclaim VAT on purchases apart from certain capital assets. HMRC's own guidance suggests talking to an accountant or tax adviser before deciding.

Do I need an accountant if my business is tiny?

Not legally. But the filing obligations do not scale down: a company with almost no trade still owes accounts, a Company Tax Return and a confirmation statement, and a director can be fined or disqualified for failing to keep proper accounting records. Many very small businesses use a bookkeeper through the year and an accountant at the year end.

What happens if I file my accounts late at Companies House?

Companies House can issue a financial penalty, and persistent failure can lead to the company being struck off the register. Gov.uk also warns that directors who do not meet their responsibilities can be fined, prosecuted or disqualified.

Sources

  1. GOV.UK — VAT registration: when to register
  2. GOV.UK — VAT Cash Accounting Scheme
  3. GOV.UK — VAT Flat Rate Scheme
  4. GOV.UK — Set up as a sole trader
  5. HMRC — Check if you're eligible for Making Tax Digital for Income Tax
  6. HMRC — VAT Notice 700/22: Making Tax Digital for VAT
  7. GOV.UK — Accounts and tax returns for private limited companies
  8. GOV.UK — Running a limited company: directors' responsibilities
  9. GOV.UK — Running a limited company: company and accounting records
  10. GOV.UK — Confirmation statement guidance (Companies House)
  11. GOV.UK — Business records if you're self-employed: how long to keep your records

Written by the LokalMatch editorial team. Last reviewed 22 September 2026. How we write and check our guides

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What affects the fees small business accountants charge

Fees depend on the work involved and how the professional bills. We only publish fee ranges when they’re backed by real LokalMatch data or reliable sources. Until then, here’s what usually changes the fee:

  • Scope and complexity of the work
  • How the professional bills: hourly, flat fee or retainer
  • Experience and seniority of the person doing the work
  • Deadlines and how urgent the work is
  • Third-party costs such as filing, registration or government fees

How to compare small business accountants before you hire

  • Check that they are licensed or registered for this work where you live, on the regulator’s public register.
  • Look for experience with matters like yours, and ask who will actually handle your file.
  • Ask how they charge before any work starts, and get the terms in writing.
  • Compare two or three professionals before you decide.
  • Be wary of anyone who guarantees a particular outcome.

Questions to ask small business accountants before you hire

  • Are you licensed or registered for this work, and with which body?
  • Have you handled matters like mine before?
  • Who will do the work, and who will I deal with day to day?
  • How do you charge: hourly, a flat fee or a retainer?
  • What is included in your fee, and what costs extra?
  • Will you confirm the scope and fees in a written engagement letter?
  • Do you carry professional liability insurance?

Licences and registration

This kind of work is often limited to licensed or registered professionals, and the rules depend on where you are. Ask which body they’re registered with, and check their status on that body’s public register before you hire.

Guides about small business accounting

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