We help businesses with their accounting needs.
We provide complete bookkeeping and VAT returns services to all SMEs including limited companies
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All UK businesses registered with “Companies House” are required to submit their Financial
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Our payroll team can provide you a complete payroll solution for your business, sparing your valuable
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If you are self employed and struggling with the tax returns then look no further. Our team of
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TFK Accountants staff has impressed us with their professionalism, expertise, and friendliness. They always keep us informed of the most recent changes in the industry, they are always available via phone.
Kelvin William
Marketing ManagerTFK Accountants have been a huge help to our business since we have worked with them. They are very professional and responds in no time. They eradicate the stress associated with accounting.
Joseph Harrison
CEOThe guys at TFK Accountants know exactly the business of Accounting. They are very professional and have saved the company a lot. Thanks.
Lewis Williamson
Assistant ManagerMany business owners wonder whether or not it is best for them to hire a professional to manage their accounting. With an expert on your side, procedures like filling out loan applications or tax returns become less intimidating. Some choose to employ an external accountant on a retainer basis, while others choose to hire an internal accountant full-time. The decision is based on the resources and needs of your company. You have the choice to engage a temporary contractor if you cannot afford to add an accountant to your staff but require expertise during tax season. We are here to help.
For tracking deductions, forecasting cash flow, and other purposes, your financial records are essential. You should maintain records of the following two financial statements, according to the HRMC: The income and costs of your company are listed on the balance sheet. A business's assets, liabilities, and equity are listed on the income statement. You should also maintain track of your income sources, deductions, property basis, and any other details you might need for tax filing.
You'll want to be as prepared as you can be for tax season. You should keep track of any company expenses you might be able to deduct on your tax return throughout the year to make this process simpler. For instance, if your business is conducted out of your house, you may be able to deduct business-related expenses like home maintenance and repairs. To make filing taxes simpler, you should also maintain all of your financial statements current. The health of your company's finances is essential to its success, so it is your responsibility as the company owner to become knowledgeable about the accounting process.
>When sales COVER expenses, you've hit your break-even point. Use these steps to compute it: Step 1: Subtract variable costs from the unit price (price per unit) (costs dependent on sales volume). Step 2: Subtract the amount determined in step 1 from the fixed costs (costs unaffected by sales volume). Step 3: Your break-even point is the result (in units sold). Every business has its own specific amount. You'll be able to tell your business is financially sustainable once you've hit your break-even threshold..