Small business accounting packages


Accounting & tax packages

When last did your accountant highlight the percentage return you’re receiving from your business and suggest how you could improve it? At My FD that’s standard.

See fixed-fee packages & flexible services
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Accounting to suit you and your business

I’m a contractor or freelancer


Choose between our two fixed-fee accounting packages : Simplicity and Simplicity Lite.
 

I’m a small business


Enjoy a flexible accounting service tailored to your business, whether you're a sole trader, a partnership or a company.

I need personal tax help


Get the input of our in-house chartered tax advisers and let us complete your personal tax return.
 

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Simplicity

Our most popular fixed-fee accounting package for contractors or freelancers. This one's for you if you want to:


  • Spend no more than 10 minutes a month on financial admin
  • Have real-time insight into your financial situation
  • Get proactive monthly advice on optimizing the money you withdraw
  • Be certain that you're compliant with IR35 and tax legislation

Simplicity gives you

Your own qualified accountant


With one of the lowest client:accountant ratios in our industry, your dedicated accountant will get to know your business and be proactive in making money-saving suggestions.

The UK’s top small business accounting software


We use FreeAgent because we believe it’s the best. Use it on your mobile, sync it with your business bank account, and see at a glance where you stand.

Monthly health checks


Your easy-to-understand monthly statement includes your percentage return and the most tax-efficient approach to paying yourself each month.

Unlimited tax & financial advice


Besides the unprompted monthly advice and the unlimited on-demand advice from your accountant, you have access to our in-house chartered tax advisers too.

Bookkeeping support


Spend your time building your business and getting work done while we issue invoices, calculate NIC/PAYE deductions and help you keep tabs on your expenses.

IR35 advice and defence


Our in-house experts can check your contracts at any point. We will handle any enquiries and will personally defend you against IR35 challenges from HMRC.

Details and pricing

If you use Simplicity your accountant will:

  • Prepare your company’s annual accounts/financial statements
  • Register you as an employer (payroll) and for VAT if necessary
  • Prepare an annual salary forecast and PAYE/NIC deductions
  • Complete and submit your
    • abridged accounts to Companies House
    • annual confirmation statement to Companies House
    • corporation tax return to HMRC
    • annual payroll and benefits-in-kind return
    • personal tax return to HMRC (for the principal director)
    • VAT return.
  • Act as your registered office and director’s service address
  • Scrutinise your finances each month to identify any potential to improve your earnings
  • Send you a monthly account statement that includes your percentage return
  • Advise you on the most tax-efficient way to access funds each month
  • Prepare and issue your invoices
  • Provide employment, mortgage or rental references
  • Remind you of any upcoming tax payments so you don’t incur penalties
  • Remind you to log any unlabelled expenses
  • Provide you with advice on IR35 and unlimited contract reviews
  • Handle any HMRC enquiries and IR35 defence

Everything above is included for £139 + VAT/month — No hidden extras

We can also structure and register your limited company for an all-inclusive fee of £125 + VAT

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Simplicity Lite

Our light-touch fixed-fee accounting package for contractors and freelancers. This one's for you if you want to:


  • Do the day-to-day admin for your finances yourself
  • Use simple, market-leading online accounting software
  • Get an annual IR35 contract review
  • Have access to an experienced accountant to answer queries on demand

Simplicity Lite gives you

Your own qualified accountant


With one of the lowest client:accountant ratios in our industry, your dedicated accountant will get to know your business and be proactive in making money-saving suggestions.

The UK’s top small business accounting software


We use FreeAgent because we believe it’s the best. You can use it on your mobile, sync it with your business bank account, and see at a glance where you stand.

Unlimited tax & financial advice


Besides unlimited on-demand advice from your accountant, you have access to our in-house chartered tax advisers too.

Details and pricing

If you use Simplicity Lite your accountant will:

  • Prepare your company’s annual accounts/financial statements
  • Register you as an employer (payroll) and for VAT if necessary
  • Prepare an annual salary forecast and PAYE/NIC deductions
  • Complete and submit your
    • abridged accounts to Companies House
    • annual confirmation statement to Companies House
    • corporation tax return to HMRC
    • annual payroll and benefits-in-kind return
    • personal tax return to HMRC (for the principal director) VAT return.
  • Act as your registered office and director’s service address
  • Provide you with advice on IR35 an annual contract review
  • Advise you on the most tax-efficient way to access funds

£120 + VAT/month — No hidden extras

We can also structure and register your limited company for an all-inclusive fee of £125 + VAT

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Small business
accounting service

A flexible accounting service for small businesses, whether you operate as a limited company, a sole trader or a partnership.
This one's for you if you want to:


  • Minimise the time you spend on financial admin
  • Have real-time insight into your financial situation
  • Get proactive advice on optimising the money you withdraw
  • Be certain you're complying with all accountancy and tax legislation

Accounting services tailored for your small business

Your own qualified accountant


With one of the lowest client:accountant ratios in our industry, your dedicated accountant will get to know your business and be proactive in making money-saving suggestions.

Small business accounting software


We use FreeAgent, Xero, sage, IRIS and QuickBooks. All our software is Making Tax Digital compliant and is designed to be simple to use and save you time.

Tax & financial advice


Besides unprompted monthly advice and the unlimited routine advice from your accountant, you have access to our in-house chartered tax advisers too.

Details and pricing

Because each small business is different, we build your small business accounting service around you. Fees start from as little as £50 + VAT/month.

Contact us to discuss what you need and we’ll quote you a fixed monthly fee.

As part of our small business accounting service we typically:

  • Provide you with the most appropriate cloud accounting software (FreeAgent, Xero, Sage, IRIS or QuickBooks)
  • Incorporate your limited company and help with set up and registrations
  • Prepare your company's annual accounts/financial statements
  • Register you as an employer (payroll) and for VAT if necessary
  • Prepare an annual salary forecast and PAYE/NIC deductions
  • Complete and submit your
    • abridged accounts to Companies House
    • annual confirmation statement to Companies House
    • corporation tax return to HMRC
    • annual payroll and benefits-in-kind return
    • VAT return.
  • Act as your registered office and director’s service address
  • Send you management statements to complement the accounting software helping you understand your business finances at a glance.
  • Advise you on the most tax-efficient way to access funds
  • Remind you of any upcoming tax payments so you don't incur penalties
  • Remind you to log any unlabeled expenses
  • Provide you with company secretarial services
  • Prepare your partnership and personal tax returns.

Please contact us for a bespoke quote tailored to your small business.

We can also structure and register your limited company or alternatively set you up as a sole trader or partnership for an all-inclusive fee of £125 + VAT

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Personal tax return service

If you’re required to complete a personal tax return we can help in all circumstances.


For example, if you receive income from multiple sources or have made capital gains we can help you complete the self-assessment process. Our accountants are backed up by our in-house chartered tax advisers too.

Personal tax return fees start from £295 + VAT

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Set up your limited company


New to contracting and need to set up a limited company? Let us do it for you. This service includes the incorporation of your own limited liability company, advice on optimal share structure and help opening a business bank account if required.

One-off fee of £125 + VAT

Find out more

What makes our IR35 support different?


You won’t need IR35 insurance if you sign up for our Simplicity package. Our in-house chartered tax advisers are IR35 experts. If you are investigated by HMRC, we will handle the enquiry and defend you ourselves. That means we have a vested interest in our IR35 advice being sound.

On-the-go accounting app


FreeAgent is included in our accounting packages. It lets you do everything from your laptop or mobile.

  • Sync it with your business bank account
  • Use it on your laptop, tablet or mobile, anywhere and anytime
  • Keep track of everything on your finance dashboard

Additional accounting services


The My FD team has more than 50 years of combined experience in tax and accounting, and we can handle whatever accounting or tax related services you need beyond your limited company. We can:

  • Help your partner or spouse with their personal tax returns
  • Dissolve your limited company
  • Do the accounts for any additional small companies you have
  • Deal with HMRC queries that relate to your finances before you joined us