Traditionally you may deliver your books and records to your accountant three months after the year end and about a month later your tax position would be calculated. In reality, you would have been unaware of your tax liability during your accounting year and therefore your tax liability would have crystallised at the year-end date.
The evolution of cloud technology has enabled us to work closely with our clients and share access to the most up-to-date financial information. We have therefore heavily invested in our team to provide professional advice on the latest cloud technology to provide you with a relevant, timely financial position. Cloud technology enables us to work closely with you on a quarterly or six-monthly basis to review your tax position during the financial year, enabling us to manage your tax liability not simply reacting to it months after the accounting year has ended.
Hunts are accredited partners to market leading cloud accounting platforms
Xero and Quickbooks. Access your account via the buttons below.
Whether you are a start up business or an established small to medium sized company, we are here to provide the services you need to complete the full picture of your accounts. We'll help you maximize the potential of your business or new ideas.
At Hunts, we go beyond the standard financial reporting compliance. We use the latest accounting software and technologies to produce accurate up-to-date financial information to help our clients make informed timely decisions.
We understand that VAT often seems like a burden; the statement of being an "unpaid tax collector" is frequently heard. Although the government have tried to lessen the burden on small and medium sized business’s it still remains that calculating it correctly and delivering the VAT Returns on time takes you a considerable amount of time. We work with clients to help them prepare and submit their VAT Returns, and this can be in conjunction with the book-keeping service.
Hunts can also help you choose the right VAT scheme for your business - this decision alone could substantially improve your cash flow and potentially save hundreds of pounds in the amount actually paid to HMRC. In addition it can also significantly reduce the risk of genuine errors made and therefore time and money should you be the subject of HMRC visit.
We use a software based system for this which maintains the electronic file facility with Companies House. This means that maintaining and making amendments to your statutory records, filing confirmation statements can be made on a same day basis.
Getting the right advice about the structure of your business is crucual, as the business grows we ensure you maximise all available tax allowances and reliefs. We also provide proactive advice if you look to acquire or sell business to ease the pressure that come with this process.
Preparing payroll each month can be time consuming and complex, directing resources from core business activities. Its complexity is amplified by changing auto-enrolment, RTI, employment legislation processes and the accompanying regime of penalties for non-compliance. Whatever your business type or size (sole trader, small business or limited company), efficient payroll systems are crucial. We offer a full, flexible and tailored payroll bureau which not only relieves you of this pressure but also includes payroll advice to improve the performance of your business. Our service includes:
With HMRC's new system of penalties or errors, having on of our accountants complete your annual self-assessment tax return on your behalf, can give you peace of mind. As well as preparing your returns Hunts are here to give advice on maximising your allowances and reliefs, mitigating inheritance tax liabilities and advise on capital gains issues.
Tax investigations are on the increase, with individuals and companies alike being targeted and under more scrutiny than ever.
Investigations are stressful, time-consuming and costly for the party involved. As your Accountant we want to protect you where possible which is why we offer a Fee Protection Insurance service which covers you against the cost of professional fees associated with a tax investigation. The cost for this protection varies according to whether you are a Limited Company, Partnership, Sole Trader or SelfAssessement client. Please contact us for more detail.
We have the facility within the office to take instruction from a client in the morning to form a new private limited company, and be able to provide them with the certificate of incorporation with full company registers, memorandum of articles of association by the close of play the same day.
The benefits of choosing the right accounting software are considerable: simplifying clients' administrative process and providing relevant, timely and accurate information to you and to us, ensuring we focus on real-time advice, support and planning in a cost efficient way.
Cloud accounting software has the benefit of enabling our clients and us to work on your accounts jigsaw puzzle in unison: you choose which pieces you do, while we work on the rest, and both parties have access to the full picture in real-time.
We work with Quickbooks, Xero and Sage software and are able to integrate these into your accounting services with the provision of practical advice and support.
If you would like more advice or just need to chat an issue through, please talk to Nick on 01935 815008
or email . Alternatively, simply provide your details here and we will call you back.
Our free mobile tax and finance app brings our accounting tool kit to your fingertips, 24/7. Functions include our GPS mileage tracker, latest tax calculators, key tax dates, useful tax tips, and partner links to QuickBooks and Receipt Bank.
Available free from:
Nick began his accounting career with Yeovil based firm Hunt Wagstaff (no relation), at the tender age of 16. He qualified as a professional accountant within his first 3 years and went on to work with Marshall Beavan in Gillingham. Following a period of time travelling Europe, Nick set up Hunts Accountants in 1998 in Sherborne. Since then Nick has provided insight, strategy and accounting support to over 1100 clients, serving as accountant bedrock to businesses in Sherborne and throughout Dorset and Somerset.
Andrews' industry experience gives him excellent insight into how accounts are managed from the client side. Andrew is involved in preparing VAT and Management Accounts across a variety of clients and is a Certified QuickBooks ProAdvisor.
Business Support Manager
Originally from Zimbabwe, Emma joined Hunts in 2011. After completing her AAT she was able to leverage her expertise as a Business Support Manager.
Amy brings to Hunts an assortment of international marketing and project management experience. Having worked freelance whilst raising a family, she enjoys the opportunity to work with local clients, businesses and Sherborne Chamber of Trade. Amy supports across the business from marketing, HR to administration.
Jenny joined Hunts Accountants in April 2014 and brings with her a wealth of experience. She has worked with a wide range of clients from sole traders to limited companies covering all aspects of accounting from bookkeeping, VAT preparation, payroll, corporation tax and personal tax.
Maria completed her AAT qualification before starting a family and went on to practise accounting with her private clients from home. She brings to Hunts invaluable experience in partnerships and sole traders accounts.
Luke joined Hunts in 2012 and completed his AAT and ACCA qualifications whilst with Hunts. In addition to preparation of clients’ accounts Luke plays a key role in the implementation of Hunt’s new accounting software technologies. He is our in-house Xero and QuickBooks expert and a certified ProAdvisor.
Natasha joined Hunts in 2007 and completed her AAT qualification whilst with us. In between time out to have children, Natasha has achieved her fellowship status, and is responsible for client’s accounts preparation, business and personal tax for sole traders, partnerships and limited companies.
Tom joined Hunts in 2017 after completing his degree in Accounting and Business at Bournemouth University, and is currently working towards his Chartered Certified Accountant status. Tom assists in the preparation of year end and management accounts.
Luke is responsible for managing the Hunts payroll bureau. Luke is a member of Chartered Institute of Payroll Professionals and has a wealth of experience across all aspects of payroll, auto-enrollment, NIL and CIS.
1st June 2020
Furlough Next Steps
As most of you may have heard, the government have made changes to the furlough scheme which are being implemented earlier than expected.
The first changes relate to the level of government support which will reduce over the months to October, when the scheme closes.
For June and July, there will be no changes to the contribution levels, with the government still contributing 80%.
In August, employers will be asked to contribute the National Insurance and Employers pension contributions.
In September, government support will reduce to 70%, with employers contributing 10% and in October government support will reduce to 60% with employers contributing 20%.
The current furlough scheme also prevents furloughed employees from carrying out any work. From 1 July 2020 this will be changed to allow staff to return to work on a part time basis. The hours worked by the employee will be paid by the employer and 80% of the non-worked hours will be covered by the furlough scheme (reducing to 70% and 60% as per above)
These changes have been brought forward from August which is hoped to help many businesses manage the return to work.
To bring in these changes, the current furlough scheme will be closed on 30th June and moved over to the new scheme. If you have employees you intend to furlough but haven’t yet, please contact us. All furloughed employees will need to be on the scheme by 10th June to qualify for future furlough payments.
Self-Employed Support Scheme (SEISS)
You can apply for the current scheme up to the 13th July whereby you qualify for the 80% of average earnings Under the first grant, eligible individuals can claim a taxable grant worth 80% of their average monthly trading profits, paid out in a single instalment covering three months’ worth of profits, and capped at £7,500 in total. Those eligible have the money paid into their bank account within six working days of completing a claim.
However as announced on Friday the new extended scheme will now be available in August. The grant will still be based on average wages and for a 3 month period, however it will be paid at 70% of average earnings rather than the previous 80%. This is to bring the grant inline with the changes to the furlough scheme.
As always if you have any questions, please contact us and I hope you’re all staying safe and well.
Claiming on Business Interruption Insurance
I thought it was worth sharing the link below with you, the FCA are looking to assist with claims on business insurance policies due to business interruption. I know many policy holders have been told you are not covered by your current policies but there has been questions over this ever since the COVID-19 situation started.
Wishing you all well as always
27th May 2020
I hope you are still keeping well through these difficult times as we look toward further lifting of lockdown measures.
Government Discretionary Grants Fund
I mentioned these grants in a previous news item and we have received further information. The government have issued a discretionary grants fund for local authorities to allocate to their ratepayers as they see fit. The grants go live today so we are issuing this bulletin to provide some further details.
The grants are designed to help those who haven’t been eligible for other grants such as the small business rates grants or the retail sector grants. In order to qualify, you must:
• Have suffered a significant fall in income because of COVID-19
• Have fixed property related costs
• Employ fewer than 50 employees
Councils have been asked to focus on local business which would have a significant impact on the local economy if they ceased trading but also:
• Small businesses in shared offices or flexible workspaces
• Regular market traders who do not have their own business rates
• B & Bs who pay council tax and not business rates and hence weren’t entitled to the small business grants
• Charity properties that receive charitable business rates relief instead of small business rates relief and again wouldn’t have qualified for small business grants.
If you believe you might be entitled to a grant, please contact your local authority as soon as possible, at the moment I believe the application window is 2 weeks. As the grants are discretionary, even if you don’t fall into a category above, it may be worth applying if you haven’t received any other help.
To be honest trying to find links to sensible places for you to look to apply has been quite difficult, I would repeat my advice to contact your local authority. I have placed what useful links I could find below.
Wishing you all well, as always.
7th May 2020
We are always interested to hear from talented individuals looking to take the next step in their career.
Please address your CV to Nick Hunt at: Hunts Accountants, The Old Pump House, Oborne Road, Sheborne, Dorset DT9 3RX or email .
See below for details of our current vacancies.
We currently have no vacancies.