Welcome to Accounting Lite the direct online service from Garbetts.

Accounting Lite is a no fuss online based accountancy and tax service for individuals and small businesses in the UK. Our aim is to provide the convenience and simplicity of an online service with the experience and service you would expect to receive from a traditional accountancy service.

In a nutshell - an accountancy arrangement that cuts costs, not service!

 

Confused? Not sure what service level you need from us?  Request a personal quote using this form in excel or pdf

ABOUT ACCOUNTING LITE

Accounting Lite is a straight forward accountancy and tax service for smaller businesses and individuals, intended to offer tailored assistance without the frills you don't need.

We offer packages for businesses (sole trader, partnership, company/LLP) and for individual taxpayers (eg with self employed income, capital gains or rental income), encompassing business accounts, tax returns, self assessment and general business & tax advice.

Looking back 20 years ago it would have been a brave person who predicted the impact that technology would have on our daily lives - and accountancy is no exception. These days returns can be filed on line, accounting software can be bought for a few pounds and theres a mass of advice available from one click in a search engine.

However its all well and good having technology at your fingertips, but how do you know you're using it correctly? How do you know you are getting the right answers? How do you sort the wheat from the chaff from the various web pages you view? Its not easy when tax and accounting aren't your day to day life, and you're perhaps only filling accounts and returns once a year.

It wasn't always like that of course. In days of old you'd take your business books and tax papers to your accountant, wait a few weeks, sometimes a few months, sometimes an eternity, answer some queries, wait a bit longer, and in due course your accounts and tax returns would appear. The returns would go to the tax man and you'd wait for them to be processed and an assessment to come through which may or may not be correct.

Technology lets you bypass these delays, but you risk loosing the expertise of a accountancy and tax expert looking over your figures.

This is where Accounting Lite comes in - we're a support service to give you the assistance you need to be assured your returns and accounts are correct.

Basically, we provide professional oversight to your accounts and returns, giving you the freedom and convenience to use technology, but the reassurance that your figures have been checked over professionally.

ABOUT GARBETTS

Garbetts are accountants on the Isle of Wight, established in 1988. You can read more about us and our team on our corporate information page.

Over the years we've developed an expertise in the IT Contractor / Personal Service Company market, and this has given us a great insight in how to deliver accounting services online. Locally on the Island and Solent area we've got experience in dealing with businesses large and small and taxpayers simple and complex.

Accounting Lite sees us bring these strands of our business together, recognising, tempus fugit, that the environment we operate in is changing and we need to adapt with it.

IS ACCOUNTING LITE SUITABLE FOR YOU?

If ~ You're a freelancer, self employed or run a business, or you're a personal tax payer with self employed income, lettings, capital gains or similar

~ You keep your records in Excel, Sage, or Quickbooks

~ You're happy to communicate predominantly by email (don't worry - we're on the end of the phone if you need us as well)

~ You're content to look after most aspects of your accounts and tax yourself, but want the reassurance of having your year end figures prepared and checked professionally

~ You're computer literate and happy sending records and attachments by email (you may need a scanner)

Then Accounting Lite may well be for you.

If ~ You'd rather deal face to face

~ You keep manual records, or simply collate receipts and vouchers in a file / bag / shoebox / kitchen draw

~ You're not confident working with mails and attachments

~ You want someone to look after all aspects of your tax and accounting

Then Accounting Lite probably isn't for you - but we can probably still help, albeit with a personalised quote rather than something from our tariff. Email (direct@garbetts.com) us and we'll see what we can do, or call us on 01983 400350.

HOW DOES ACCOUNTING LITE DIFFER FROM CONVENTIONAL ACCOUNTANCY SERVICES

With Accounting Lite we aim to offer a range of services to complement activities you can carry out yourself with technology. Heres how it differs to a traditional accountancy offering (by the way, we can still do that for you if that's what you need - but we'll need to give you a personalised quote).

 

Accounting Lite Conventional Accountancy
   
Business records submitted in electronically - sage, quickbooks or excel Business records submitted electronically, manually or in a carrier bag / shoe box
You retain business records to a minimum standard applicable You keep the business records to the best of your ability, and the accountant fills in the gaps and carries out remedial work
Fixed price and turnaround time Price and turnaround time depends on the work to be done, complexity, and similar
You file the accounts and return yourself Accountant probably does most of the filing for you
Most communications by email Email, fax, post, face to face - it all depends
Annual contract, pay on order (although retainer pricing options are available) Ongoing contract from year to year

SMALL PRINT

We try and keep the small print as simple as possible, but there needs to be some to protect both us and our clients.

Our terms of business are here and the specific service schedule for our lite service is here - you need to read these documents together.

A few things you need to know:

~ generally, you are responsible for keeping prime records and their accuracy, and for giving us accurate and complete explanations and information.

~ we are responsible for processing what you provide to us, raising any queries with you and advising on identified problems.

~ you are responsible for checking accounts and returns we prepare to the best of your ability.

Theres nothing unusual here - this is the basis of pretty much all accountancy contracts.

Specifically for our lite service:

~ you are responsible for keeping records in Sage, Quickbooks, Excel, or any other agreed format, to a quality that makes for easy processing by ourselves.   That normally includes a bank reconciliation.  Rather than be prescriptive as to the records you send us, we will try and work with what you have, but if the records are not adequate will advise you and either allow you to carry out remedial work, or provide a quotation for remedial work ourselves.

~ Provided all your information is complete when sent to us, we will normally prepare your accounts within four weeks of receiving the information – if your information is incomplete when it comes to us, or if we receive it piecemeal, we will normally complete your accounts within four weeks of receipt of the last information. The four week promise is to have draft accounts with you plus a note of any queries – please bear in mind you are buying a professional service, not a product, and as such it benefits nobody for the work to be rushed unnecessarily.

Not sure of your business turnover? 

~ Your business turnover is all monies invoiced to / due from customers for the financial year, excluding vat where registered.   You should be able to extract this from your accounts easily enough to see what band you are in, but if you are unsure drop us an e-mail.  If you are vat registered, the total turnover from your last 12 months vat returns should give you the answer.

~ If your turnover is hovering one side or other of one of our bands, then we offer a “fair play” policy if any accountants adjustments move your turnover into a higher or lower pricing band – so long as you have calculated your turnover in good faith then if accountants adjustments move the turnover into a lower or higher band, we will honour the original quoted fee so long as the turnover adjustment is less than 5%.

PRICING

For a full price list and tariff guide click here for PDF

All the prices below include VAT at current rate, and are for advance payment.

Confused? Not sure what service level you need from us?  Request a personal quote using this form in excel or pdf

We work on a “minimise the small print” policy, so we’ve kept our pricing structures as simple as possible. Because of this, sometimes, we may need to modify a quote if your circumstances are unusual or irregular – but don’t worry, we’ll still give you a fixed fee quote and there is no obligation to accept it

Our core product are accounts for small businesses:

  Sole trader Partnership

Limited Company or LLP
Business turnover (VAT exclusive)
£0 - £15k £119.00 £139.00 £469.00
over £15k to £30k £239.00 £259.00 £469.00
over £30k to £60k £349.00 £369.00 £559.00
over £60k to £150k £499.00 £519.00 £659.00
over £150k to £250k £599.00 £619.00 £759.00
over £250k By individual quotation
 
Sole trader prices include tax computations and Self Assessment pages for personal tax return, but not full personal tax return.
Partnership prices include tax computations and partnership tax return, but not full personal tax return.
Company / LLP prices include tax computations and CT600 / partnership tax return, but not full personal tax return.
The basic prices above include partnership / company tax returns, but not a full personal tax return - we do give you the entries you need to put on your personal tax return though, and you can then file the personal return (sole traders, partners and directors) online yourself.  However if you need a full tax return service, we offer that as well.

Our pricing for tax returns:

Basic tax return - buying accounts or other services from us £49.00
Basic tax return - not buying other services from us £99.00
CGT pages - property/other assets (per asset) £119.00
CGT pages - listed investments (for each 5 investments £29.00
Land and property pages - up to three properties £99.00
Upgrade to rental accounts £49.00
Share schemes pages £99.00
Foreign income pages £99.00
Non residence pages £99.00
Trusts pages £99.00

Bundled Packages:

  Sole trader Partnership

Limited Company or LLP
Small Business Package with payroll £799.00 £899.00 £999.00
- business accounts
- partnership tax return / Corporation Tax CT600 return
- personal Self Assessment tax return for three partners / directors
- monthly payroll for up to five staff
- quarterly vat return check over
- business turnover up to £250k
Small Business Package without payroll £699.00 £799.00 £899.00
- business accounts
- partnership tax return / Corporation Tax CT600 return
- personal Self Assessment tax return for three partners / directors
- quarterly vat return check over
- business turnover up to £250k
Personal Service Company package £n/a £n/a £975.00
- business accounts
- partnership tax return / Corporation Tax CT600 return
- personal Self Assessment tax return for director + spouse
- monthly payroll for director + two others
- quarterly vat return check over / completion
- IR35 / S660a compliance assistance and contract reviews
- registered office/company secretary/companies house annual return
- see www.garbetts.com/psc for more details

Our pricing for extra services (add ons to our basic services):

Registered office (pa)
 		 £50.00
Nominee company secretary (pa) £50.00
Company formations - supply only £125.00
Company formations - business transfer/set up package £235.00
Lending /letting reference - simple £30.00
Lending /letting reference - standard £100.00
Company annual return (plus £15 / £30 Companies House fee) £30.00
Annual paye returns, from your payroll records (max 20 staff) £140.00
Annual P11D returns, from your payroll records (max 20 staff) £140.00
Directors annual paye calculations (per director) £25.00
Ask a question (fixed fee for consultation on one item) £60.00
Meeting at our Brading Isle of Wight office (up to one hour) £60.00

Other specialist services:

Business and personal tax planning  These services are all available by special quotation. We cannot give a tariff for them due to the need to tailor them to specific circumstances
Tax investigations and negotiations
Business consultancy
Strategic planning
Company law
Personal and business financial planning
Outsourced bookkeeping and payroll
Computerised accounts, set up and training

For a full price list and tariff guide click here for PDF

All the prices above include VAT at current rate, and are for advance payment.

GETTING STARTED WITH US

To get started you need to complete a simple registration form in Excel. You can download it here and send by email - or if you prefer, give us a call and we can take some details over the phone and get going from there.  Our reception is open 9 - 5 Monday to Thursday, 9 - 1 on Friday, 01983 400350.

Garbetts Chartered Certified Accountants

E-mail: direct@garbetts.com

Arnold House, 2-6 New Road, Brading, Isle of Wight, PO36 0DT.
Telephone: 01983 400350. Facsimile: 01983 404016.

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