We aim to make the complex simple

Our Mission

Accounting and Bookkeeping

Why choosing GK Accounting Services

is the right choice....

Georgina Ferguson is licensed and regulated by AAT under license number 10220227

Grow your business

  Watch your profits and efficiency soar. You’ll expand faster than you ever thought possible.  

Great Support

Our team is here to ensure things runs smoothly, so you can get on with other things.

Good Business Charter

We are also accredited by the Good Business Charter who recognise responsible business practises and behaviour.

Examples of industries we work with...


Consultants

Influencers

Legal Services

Graphic Design



Online Retail

Online Services

Software Development

Retail Stores



Plumbers

Property Maintenance

Photography

Catering


Insurance

HR 

Logistics  

Data Compliance

Welcome to GK Accounting Services

Bringing Clarity to Your Finances

Are you in search of reliable and personalized accounting services? Look no further. At GK Accounting Services, it's not just about numbers – it's about your financial peace of mind. With a commitment to excellence and a focus on your success, we offer a comprehensive range of accounting and financial solutions tailored to meet your individual and business needs.


Why Choose Us?

Navigating the financial landscape can be overwhelming, but with our expertise and dedication, you'll have a partner who truly understands your challenges. As a small accountancy practice, we bring a hands-on approach and a deep understanding of the intricacies of accounting, taxation, and financial planning.


Our Services

From tax preparation and financial analysis to consulting and beyond, our services are designed to cover the spectrum of your financial requirements. As a small practice, I am able to provide you with the attention and customised solutions that larger firms simply can't match.


Client-Centric Philosophy

At GK Accounting Services, you're not just a client – you're a valued partner. We take the time to listen, understand your goals, and provide you with the insights you need to make informed financial decisions. With a commitment to clear communication and transparency, we ensure that you're always in control of your financial journey.


Experience and Expertise

With a wealth of experience and a deep-rooted passion for accounting, we offer the expertise you need to navigate the complexities of financial management. Staying up-to-date with the latest industry trends and regulations, I am equipped to provide you with accurate advice and strategic guidance.


Discover the Difference

Explore our website to learn more about the services we offer and how we can assist you in achieving your financial aspirations. Whether you're an individual seeking tax assistance or a small business owner aiming to optimize your finances, GK Accounting Services is here to provide you with a trusted partner in your financial success.


Experience the advantage of working with a dedicated accountant who has your best interests at heart. Get in touch today to schedule a consultation.


Your Finances, My Expertise.

LEARN MORE

Our testimonials

Read what our clients have to say about our service...

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Our Services

Bookkeeping

Bookkeeping can be time-consuming, we're here to help you handle it

MORE ABOUT BOOKKEEPING

Financial Accounts

We will help you forward plan with timely, accurate annual accounts

MORE ABOUT FINANCIAL ACCOUNTS

Corporation Tax

 Tax laws are complex, we're here to help you handle it all. 

MORE ABOUT CORPORATION TAX

VAT

VAT is seen as one of the most complex tax areas imposed on business, let us help

MORE ABOUT VAT

Payroll

The task of payroll processing can often divert you from your core business activity. It is our job to help and take the worry and time out of this process for you.

MORE ABOUT PAYROLL

Self Assessment

 We can help with simple to the more complex Self Assessment submissions and perform a full review of your return to ensure you're paying the right amount of tax as a sole trader.

MORE ABOUT SELF ASSESSMENT

Management Reporting

Management reports instantly give you a snapshot of how your business is performing and will help you make informed business decisions. 

MORE ABOUT MANAGEMENT REPORTING

Budgeting & Forecasting

Management and staff find the day to day workload required for bookkeeping and accounting, including the annual accounts, time consuming. We are here to take that pressure away.

MORE ABOUT BUDGETING & FORECASTING

Our technology

Cloud-based technology is a the forefront of our business. It provides us and our clients with a wide range of benefits, for example, enabling us to achieve better efficiency and accuracy. Cloud-based technology also allows our business to be more sustainable in our approach to business which is an important aspect to us personally.

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Our accreditations

AAT Licensed Accountant Logo
Georgina Ferguson is licensed and regulated by AAT under license number 10220227. The license enables her to provide income tax, accounting and bookkeeping services to individuals and businesses. Our services are tailored to the unique needs of each client. We work as part of your team, understanding your needs and what matters to you.

We are also accredited by the Good Business Charter who recognise responsible business practises and behaviour. If you want to find out more about our Good Business Charter accreditation then please click the button below.

Frequently Asked Questionss

  • What is bookkeeping?

    Bookkeeping is recording, organising and maintaining the financial transactions of a buisness. These transactions include sales, purchases, payments and receipts.


    Bookkeeping provides the information needed to go on and complete the financial accounts.

  • What are financial statements?

    Financial statements are reports that display the activities and performance of a business from a financial perspective.

    There are four main types of financial statements, these are balance sheet, profit and loss, cash flow and statement of changes in equity.

  • Corporation Tax how to pay?

    If your business has profits of up to £1.5m then your Corporation Tax bill will be due 9 months and 1 day after your accounting year end has passed. If you profits are over £1.5m then you have pay by installments. You can pay using your govenment gateway login or via internet banking ensuring you use your 17 character reference number.

  • How much is VAT in the UK?

    The standard rate of VAT in the UK is 20%. However, there are reduced rates on certain items which are 

  • Do I need to do a self assessment?

    If you have received a notice to complete a self assessment from HMRC then you must complete one. In general, however, anyone who is not taxed at source should complete a self assessment.

  • What are management reports

    Management reports are internal non-statutory reports used by managers or shareholders to make decisons relating to the successful running of the business. They are useful for commmunicating information to managers of all levels.

  • What is a business forecast?

    A business forecast is making a prediction about the future results that may be obtained by a business based on past results and trends.

  • What is the rate of Corporation Tax in the UK?

    From the 1st April 2023 the rate of Corpoation Tax in the UK was increased from 19% to 25%. A small profits rate of 19% was also introduced for businesses with profits of less than £50,000.

Recent Blog Posts

Using the cash basis scheme

01 Mar, 2024
The cash basis scheme offers a streamlined financial management approach, particularly beneficial for sole traders and unincorporated businesses. However, it is important to note that this scheme is not applicable to limited companies and limited liability partnerships. The primary advantage of the cash basis is its simplicity in recording income and expenditure, catering to businesses with straightforward financial structures, particularly those offering services. For businesses contemplating the cash basis scheme, it is imperative to assess suitability. The scheme may not be the optimal choice if your business falls into any of the following categories: You intend to claim interest or bank charges exceeding £500 as an expense. Your business involves complexities, such as high levels of stock. Finance is required, as banks may request traditional accounts to assess the business's financial standing before approving a loan. There are losses that the owner wishes to offset against other taxable income (utilizing 'sideways loss relief'). The cash basis scheme is most suitable for uncomplicated businesses, particularly service-oriented ones. To qualify, businesses must have a turnover of £150,000 or less, and they can continue using the scheme until their turnover reaches £300,000. Earlier this year, HMRC initiated a consultation to explore potential extensions to the scheme. The consultation, which concluded on June 7, delved into various concepts, including raising turnover thresholds for cash basis eligibility and considering the cash basis as the default method, allowing an opt-out for accruals. Further details arising from the consultation will be published in due course.

What is an SA302 form?

16 Feb, 2024
The SA302 form, obtainable from HMRC, serves as a substantiating document validating one's earnings. Widely utilized for self-employed individuals, the SA302 tax calculation and tax year overview documents have become pivotal evidence of income for loan or mortgage applications, aligning with the heightened need for verifiable income in adherence to mortgage regulations. Covering the last four years of Self-Assessment Tax Returns, the SA302 delineates the breakdown of income declared in the taxpayer's tax return, encompassing commercial variations. Simultaneously, the tax year overview attests to the tax liabilities stemming from the submitted return to HMRC, detailing payments made and cross-referencing the Tax Calculation with official HMRC records. Self-assessment taxpayers can leverage HMRC's online service to requisition an SA302 tax calculation for the preceding four tax years. Post the online tax return submission, a 72-hour processing period precedes the availability of printable documents. Alternatively, those utilizing commercial software, either individually or through an accountant, can access their proof of earnings seamlessly.  Most lenders accept SA302 forms printed from online accounts or generated via the commercial software facilitating return submissions. HMRC, in collaboration with the Council of Mortgage Lenders and their affiliates, has actively expanded the pool of lenders embracing self-serve copies, streamlining the validation process for borrowers.

What is the Annual Investment Allowance

01 Feb, 2024
The Annual Investment Allowance (AIA) is a tax relief mechanism that enables businesses to deduct the entire qualifying expenditure on plant and machinery from their pre-tax profits. Eligibility for the AIA extends to individuals, partnerships, or companies engaged in a trade, profession, or vocation, as well as those involved in a UK non-residential property business, or a furnished holiday let. It is noteworthy that only partnerships or trusts with a diverse mix of individuals and companies within their business structure do not qualify for AIA. As of April 1, 2023, a substantial and enduring adjustment increased the AIA from £200,000 to £1 million. The transitional rules that were previously in effect for chargeable periods spanning April 1, 2023, have been eliminated, as they are no longer deemed necessary. The AIA encompasses a broad spectrum of assets acquired by a business, including but not limited to machines and tools, vans, lorries, diggers, office equipment, building fixtures, and computers. However, it's important to note that the AIA does not apply to expenditures related to cars.  To benefit from the AIA, a claim must be submitted within the period in which the item was purchased. This period is defined as either the date when a contract is signed (if payment is due within 4 months of signing) or the actual payment date (if payment is due more than 4 months later).

Navigating Minimum Wage: Ensuring Correct Payments for Your Staff

By site-onJk3w • 09 Nov, 2023
Navigating Minimum Wage: Ensuring Correct Payments for Your Staff
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