Pico Accounts specialises in providing high quality accounting services to small businesses. The majority of our clients are Limited Company contractors and freelancers looking for a cost-effective, hassle free solution to manage the financial requirements of running a business.
Pico will complete all of the work necessary to ensure your business meets the regulatory requirements, including:
- Processing of all monthly income and expenditure
- Submission of VAT returns
- Submission of annual return to Companies House
- Provision of Annual Accounts for Corporation Tax purpose
- Submission of Annual Accounts to HMRC
- PAYE Payroll service for up to 2 people including National Insurance and Income Tax calculations
Pico Accounts can also provide other services such as the processing of your annual Self Assessment, or additional employee payroll. Contact us for more information.
What We Need
In order for Pico to ensure your accounts are a true reflection of how your business operate, we need a few things from you each month. The average time spent by our clients on their accounts is 4 minutes per month, so this won’t be onerous for you!
Invoices – most of our contractors invoice monthly, but even if you are invoicing daily, we just need a copy. If we don’t know what you’re invoicing for we can’t process your income.
Bank Statement – Using market leading software, we can link directly to your business bank account which will allow us to process your income and expenditure on a near daily basis. You can also export your transactions to a spreadsheet if you prefer, or send copy statements to us. Whichever way you choose to go, we need your transactions to be with us on the 1st day of each month.
Receipts – As a company director you are responsible for maintaining a record of your expenditure and as such, Pico will not ask to see any receipts. We provide storage files to each of our clients to allow them to manage this.
How We Work
On the 1st of each month, you should send us details of any expenditure, your bank transactions if you have opted not to use our secure feed service, and any invoices. Once we have received these, we will process your income and expenditure, and provide you with a statement showing your current Corporation Tax Liability, VAT liability, Salary, Refund of Expenses Due, and Profit Available as Dividends. With this statement you will be able to easily manage your income and expenditure so there are no nasty surprises at your year end.