Knowledge

Accounting and taxation

A self-employed person has to do bookkeeping and accounting as any other business or company. You may keep your accounts on your own or employ an accounting company such as Best Formations Limited to record, classify and summarize your invoices, receipts, bank statements and payroll.

Business accountancy is not an abstract and useless activity. On the contrary, it is supposed to assist you in running a business on a daily basis. Professional and up-to-date bookkeeping and accounting serve to:

  • Assess your Income Tax and Class 4 NICs after the end of the tax year.
  • Control and balance accounts with your suppliers, customers, banks and employees (payroll).
  • Communicate financial information and prepare financial reports about a business.
  • Prepare financial documentation for investments, bank loans and insurances.
  • Deliver reports on inventory and assets.

Best Formations Limited provides its clients with professional accounting and bookkeeping services. If you are interested, please call us on +44 (0) 20 7060 7326 or send an email to enquiries@bestformations.co.uk

Help and advice
We have tried to answer as many common questions as possible on these pages, but if you do require further assistance
or have any other questions then please give us a call on +44 (0) 20 7060 7326 and we will be happy to help.