Accountability Edinburgh

Now this is the kind of start to an email we LOVE to get!

Because when a small business owner finds a potential solution to something that's been keeping them awake at night they want to act.

And it sounds dramatic to say that not having a grip on your finances can be a nightmare – but we hear this again and again...

🫨 No financial clarity - are you actually making any profits?
🛣️ No clear pathway to get you the insights you need
⏰ Time spent on outdated, manual process that you just know could be better - but don't know where to start
💡 No one to ask for help - and your current accountant gives you great insights - but it's a pity they're from 9 months ago (or longer)

At Accountability Edinburgh we offer a virtual finance team. We're Xero specialists and the current Xero Bookkeeping Team of the Year AND Client Champion! You can buy a slice of the right team to support your business. We have a team of 18, including qualified and in-training accountants and qualified payrollers.

We'll put together a team to best serve you - with a transparent fixed monthly fee and a clear scope of the work we're supporting you with.

A previous client once recommended us as 'better than a sleeping pill'. It's not, maybe, the most flattering description 😆 but if we help our clients sleep more soundly - then we’ll take it 😇

Business Owners - do you have control of your own Government Gateway (Business Tax) account?

It looks like this 👇

From here - you can see your business taxes - Corporation Tax, VAT, PAYE etc.

And then - you can see how much tax you owe, whether returns have been filed, look back at the history of filings - and see when payments are due. You can also manage direct debits. 💪

You can also manage your tax agents - so you get to appoint what accountant deals with what tax.

🚩🚩Your accountant SHOULD NOT control your business tax account. They should have their own access via agent accounts. If your accountant has this access - it is very likely you do not. 🚩🚩

We have taken on clients where:

⁉️ they haven't known if VAT returns were filed. What they did know was that they were being inundated with demand letters from HMRC for unpaid VAT, penalties etc.

🆘 Corporation tax hadn't been filed. At all.

💰 They had a large credit on the PAYE account just sitting there. It arose from the payroll providers not deducting Employment Allowance repeatedly - and so a large credit had accrued. HMRC are likely to write to you - but you should have ready access to this stuff.

The latest HMRC Agent Update (126) includes a reminder to agents that "there are no circumstances in which it is acceptable for an agent to directly control a client's online tax account, or register said account to their own email address."

It goes on to say that "The HMRC standard for agents also explicitly states that agents must never ask any client to share their Government Gateway user ID and password"

🚩🚩 If your accountant has your Government Gateway log in details - please ask them to give you the details, change the password and authorise them through their agent account. 🚩🚩

What does flexibility mean to us?

To mark our recent recognition for our commitment to flexible working, Flexibility Works sat down with Renata and Rosie

In this short interview, they share:
💬 What flexibility means to them
💡 How it supports their work life balance
🤝 Why it helps us to retain and attract brilliant people

Their stories highlight something really powerful. When we give people the trust and autonomy to work in ways that suit them, everyone benefits.

Watch the full clip below 👇
https://youtu.be/w93SmtLelJo?si=PbMH9_Iv42kW_0jF