Whether you’re a sole trader, landlord or you run a limited company, managing finances and staying compliant with tax regulations can be a daunting task. However, with the right support from an accountant, you can easily navigate keeping your books balanced. The intricacies of accounting, especially in the ever-changing landscape of tax laws, require expertise and precision. This is where Gorilla Accounting steps in.
At Gorilla, we offer tailored accounting services and packages to meet the unique needs of landlords, limited companies, and sole traders.
If you run a limited company, act as a sole trader or you’re a landlord looking for help with your financial management, we can help.
Landlord Services at Gorilla Accounting
Over the past couple of years, landlords have encountered a series of challenges, largely stemming from the COVID-19 pandemic. The economic impact resulted in some tenants struggling to pay rent for example, leaving landlords having to negotiate rent reductions or payment plans, leading to a loss of rental income and increased admin work.
Coming out of the pandemic, we’ve seen house prices rise. This has been great for sellers, but not so great for landlords looking for their next buy to let. On top of this, rents and interest rates continue to rise, with annual private rental prices continuing to increase at pace across England, Scotland and Wales and are reaching historical highs.
Rising interest rates are causing mortgage payments to increase, leaving landlords with variable rate buy-to-let mortgages, or those with fixed-rate mortgages that have expired, no choice but to raise rents to cover their costs and remain profitable.
With so much going on over the past few years, now is a great time to appoint an accountant to assist you going forward.
Accounting Services for Landlords
As a landlord, your financial responsibilities extend beyond simply collecting rent. You need to manage expenses, understand tax implications, and maintain accurate records. Gorilla Accounting offers a service that caters to the specific needs of landlords, ensuring that your financial affairs are in order.
Bookkeeping and Record Keeping
Gorilla Accounting understands that landlords deal with multiple financial transactions, including rent collection, property maintenance, and mortgage payments.
Keeping track of all these transactions is essential for a smooth operation. Though appointing Gorilla Accounting, FreeAgent accounting software is included at no extra cost in our fixed-fee accounting packages.
FreeAgent is an online bookkeeping tool that, via its integrations, assists with helping you maintain up-to-date bookkeeping. Here at Gorilla, we add additional value to this to ensure this is compliant, accurate and advising on any tax saving opportunities
FreeAgent is cloud-based so you can access your accounts at any time on any device with an internet connection, making bookkeeping even easier. Your Gorilla accountant will be on hand to ensure everything is handled correctly.
Tax Planning and Compliance
Navigating the complex world of property taxation is a challenge for many landlords. Gorilla Accounting specialises in tax planning and compliance for landlords, helping you maximise your take home. We stay up-to-date with the latest tax laws, ensuring that your property investments are optimised for tax efficiency.
VAT and Capital Gains Tax
If your property business involves VAT or capital gains tax, Gorilla Accounting can assist you in navigating these areas efficiently. Our team of professionals will ensure that you’re compliant with VAT regulations and provide guidance on capital gains tax, helping you make the most of exemptions and reliefs where applicable.
Limited Company Services at Gorilla
Gorilla Accounting is a forward-thinking, technology-driven specialist accountancy firm. We’re experts in accounting for limited companies and contractors, keeping things simple, straight-forward, and jargon-free.
At Gorilla, our accountancy services are covered with one fixed-fee all-inclusive accounting package which covers everything for your Limited Company, no matter what sector you work in. This package is the same for all of our limited company clients, regardless of your turnover.
Accounting Services for Limited Companies
Operating as a limited company comes with its own set of financial responsibilities and regulatory obligations. Gorilla Accounting specialises in providing comprehensive accounting services tailored to meet the specific needs of limited companies.
Company Formation and Registration
Starting a limited company can be a complex process. Gorilla Accounting can assist you in company formation and registration, ensuring that all legal requirements are met, to get your business up and running smoothly.
We make incorporation easy. The Gorilla Accounting team have helped thousands of customers set up their limited companies and can assist you every step of the way.
Before you start our company formation process, you will need to pick your company name. You can check if the name is available on the Gov.uk website or speak to a member of our New Business team. We have also partnered with Mettle, the free business account from NatWest, so can assist with your business banking too.
Financial Statements and Reporting
Accurate financial reporting is crucial for limited companies. Gorilla Accounting use FreeAgent to store all your financial data, meaning that preparing detailed financial statements, including income statements, balance sheets, and cash flow statements, can be done without mountains of paperwork and long hours. This can provide you with insights into your company’s financial health, with timely reporting ensuing you have the information needed to make informed business decisions.
When you appoint Gorilla, FreeAgent accounting software is included at no extra cost in all our great value fixed-fee accounting packages. It’s specifically designed for small businesses, whether operating through a limited company or as a sole trader, and is trusted by over 100,000 small business owners like you, helping them run their business from anywhere.
You can send estimates, invoices and payment reminders, log and track your expenses, check your cash flow, stay on top of your tax affairs. FreeAgent makes it easy to monitor and manage your finances on the go.
Corporation Tax Planning and Compliance
Managing corporation tax is a fundamental aspect of running a limited company. Gorilla Accounting specialises in corporation tax planning and compliance, helping you optimise your tax strategy and meet your obligations to HMRC. Their experts stay up-to-date with tax regulations to ensure that you benefit as best you can.
Sole Trader Services at Gorilla
Whether you work as a contractor, freelancer, locum, social media influencer or anything in between, one of the main Sole Trader advantages is being your own boss and having complete control over your business. Making your journey to working for yourself as simple as possible from a financial perspective.
Appointing an accountant means you can focus on what you do best, saving you time, money and the challenge of juggling it alongside everything else day to day. Keeping on top of accounting compliance and regulation can be difficult, so it’s crucial your books and accounts are up-to-date and accurate.
Accounting Services for Sole Traders
Sole traders, while operating as individuals, face their own unique accounting challenges. Gorilla Accounting understands the intricacies of sole trader finances and offers tailored services to support your business.
You’ll receive unlimited support and advice from your own personal Sole Trader accountant who will work with you to ensure that your business finances, tax returns, bills, invoices and everything else in between are up-to-date and accurate.
Self-Assessment Tax Returns
Sole traders are responsible for their business’s financial affairs, including self-assessment tax returns. Your expert accountant can help simplify this process by preparing and filing your self-assessment tax returns accurately and on time. This eliminates the stress of meeting deadlines and ensures you’re compliant with HMRC requirements.
Expense Management and Deductions
Identifying legitimate business expenses and tax deductions is crucial for sole traders looking to reduce their tax liability. Gorilla Accounting can help you categorise and manage your expenses effectively, ensuring you maximise deductions while staying within the bounds of tax regulations.
Business Growth and Planning
Having an accountant who knows you and your business inside out can help beyond mere number crunching for sole traders. At Gorilla, we can provide everything you need to make informed decisions to grow your business and plan for the next stage. You can then set achievable financial goals and navigate your next steps. Whether you’re expanding your services or looking to increase your income, our expert guidance can be invaluable.
Appointing Gorilla Accounting
We know that one size doesn’t fit all, which is why we offer a personal service to every one of our clients. We recognise the unique needs of landlords, limited companies, and sole traders and provide specialised accounting services to meet these needs.
Whether you’re a landlord looking for stress-free tax compliance, a limited company seeking comprehensive financial support, or a sole trader in need of expert guidance, Gorilla has the expertise and services to simplify your finances, meaning you can focus on your business.
If you work as a contractor, freelancer or consultant, finding the perfect accountant for your finances doesn’t have to be difficult. Our pricing is transparent with no hidden fees or surprises. What makes us even better is our Client Service Guarantee. Contact us before 3pm on any working day and you’re guaranteed to receive a response to your query that very same day or we’ll issue you with a £50 payment.
Get in touch today on 0330 107 9671 or fill in our online form today.
