& TAX SERVICES
Services for the 21st Century
Tsega Eyob is a licensed accountant based in Manchester. The goal focuses on creating an excellent service to business owners and individuals who are looking for accountancy and tax services.
At my practice, a cost-effective, high-value solution is provided to meet all of your business and personal accounting, and tax services to clients across the UK. The level of service provided is totally customized to meet the individual requirements.
It is known that business's success ultimately comes from directly linked to the commitment to excellence and professional services the practice provides. Therefore, TE will work hard to get to know you and your business so that a timely and excellent service can be delivered.
My business strives to develop solid, interpersonal relationships with all of the practice's clients and eagerly look forward to working in order to help your financial goals. Besides, a positive and forward-thinking attitude combined with a calm, client focused and professional manner delivers detailed and accurate results. Meeting client’s satisfaction is important at my business .
Tsega provides a diverse range of services including Personal and Business Taxation, Corporation Tax, VAT, budgeting and forecasting, Payroll, bookkeeping, preparation of financial statements, company formation and other services to meet a vast list of needs from clients.
The practice strives to provide only the utmost professionalism and results-driven success that will help your accounting and finance needs. How can this be accomplished? Through understanding the clients' needs and providing excellent service, with the following relevant accounting software applications such as; Sage, Wave and QuickBooks which can be used by freelancers and business owners.
Having an accounting software helps to track income and expenses of a business which ultimately gives a clear picture of your business's growth. This service is offered to leverage the diverse accountancy background and help the clients to achieve excellent service results. With years of knowledge and experience, Tsega knows the industry well and has many close contacts in the field.
Financial accounting and reporting for income taxes have become increasingly complex. Thus, each and every company has a statutory obligation to generate yearly accounts for the appropriate authorities, generally HM Revenue & Customs and Companies House. Therefore, it is important to understand your obligations as a business owner to record your transactions.
In order to comply with the statutory obligation, every business has to maintain its financial records in a very proper way to ensure the inflow and outflow of the money in it. Updating all the financial transactions in the business properly in the bookkeeping system.
This is where TE comes in and provides accountancy services that ensures your business books are up to date on a daily/weekly/monthly basis so that it can be used in the preparation and completion of your business/corporation tax return.
Accountancy services such as accounts receivable, accounts payable, bank reconciliation, payroll, VAT and financial report preparation (financial statements) can be provided to both new and established businesses in the UK.
Business Taxation services
Business taxation refers to the taxes that businesses must pay as a normal part of their operations. Whether you are a sole trader, in partnership, part of a limited liability company, or a limited company, your business is responsible for direct and indirect tax returns. As each type of business pays tax differently, getting tax right and making sure you pay the right taxes is one of the most important financial aspects of any business. Even though taxation seems to be the most complex area, it is the most important aspect of a business’s life. Thus, TE makes things easier for you by ensuring every client receives the most relevant and informed advice as well as helping your business accounts through until your tax returns are done.
Personal Taxation services
Personal income tax is a tax due to pay on an individual’s personal income and is normally levied on the wages, salaries, dividends, interest, and other income a person earns throughout the tax year.
It is different from the tax paid on the company's profits. However, in an incorporated company, shareholders pay taxes on both their income (salary or dividend received from the company). As we all know, the more you earn, the higher the taxes you have to pay.
The only way to keep a bit extra in your pocket is by calculating your incomes correctly and ensure you get all the allowances, thresholds, etc. right. The amount of tax you pay depends on taxation rates which may vary by the type of taxpayer and the net amount after allowances is usually referred to as an individual's taxable income. Therefore, TE's years of experience in this field will garnered an expansive set of skills in the process, This service will help you to file your self assessment (Tax) to HMRC and advice on what deductions and allowances you can claim when filling your personal taxation.
Financial Accounting and Accounts Preparations
Sole traders, partnerships and business owners must report back to tax authorities such as Company's house and HMRC on their trading activities (profit , expenses , sales) within their last accounting period. The reporting requirements are different depending on various things such as the level of trading activity. Therefore, financial accounting and accounts preparation for your business is crucial.
Final accounts provide the information about the business profitability by preparing the final accounts such as profit and loss account, balance sheet , etc which shows a business's performance over a specific period of time.
Therefore, If you are self-employed, a sole trader or operate your business as a partnership, take advantage of TE services to support your business with preparation of annual accounts and tax pack , assessing and advising on how your business can perform better to reach new heights and gain influence.
Budgeting and Forecasting
A budget is a detailed financial outline of what the business thinks will happen over a period of time often a year or more financially. The budget will include details about the company’s revenues, expenses, cash flow and financial position. This information should be available from the company’s financial reports. Budgeting is the most critical part of a business’s strategy and guiding the way towards what the business wants to achieve during a specific period. A budget compares actual results to determine variances from expected performance. Forecasting is an estimation of future outcomes which quantifies where the company is headed during the forecasted period. It helps companies adjust their goals to reflect company or market changes, as originally set out in their budgets and this can be done or updated regularly. Forecasting helps businesses to focus only on what matters to their business such as cash flow, production, sales, or finance.
You must pay Corporation Tax on profits from doing business as a limited company, any foreign company with a UK branch or office. A UK company will be subject to UK corporation tax on its income profits and capital profits. The rate of corporation tax for all companies is currently 19%. This rate is due to be increased to 25% in April 2023 for companies with profits above £50,000. Marginal relief will be available for companies with profits between £50,000 and £250,000.
Therefore, financial accounting and accounts preparation for your business is crucial which provides the information about the business's performance over a specific period of time. Hence, this service provides preparation of the financial statements and submission of corporation tax.
Need help with your corporation tax please contact us for more information.
Value added Tax (VAT)
VAT is payable on the supply of most goods and services in the UK by a taxable person. Most goods and services are charged at the standard rate of 20% unless the goods or services are classed as reduced (5%) or zero-rated (0%). Certain supplies are exempt from VAT. Businesses have to register for VAT if their VAT taxable turnover is more than £85,000. They can also choose to register if their turnover is less than £85,000. You usually need to send a VAT Return to HMRC every 3 months.
Our service can help you with registering your business for VAT and assistance with VAT Return Completion.
"There was no one near to confuse me, so I was forced to become original"
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Hear what some of my clients have to say.
Tsega has provided me tax service for my annual self assessment and other general advice. She is very friendly, kind, helpful and efficient. I am very grateful for all the help you provided me Tsega. I will definitely use her service again. Thank you Tsega for all your advice and kindness!!!
In a busy modern day schedule, it's often hard to keep up with the constant financial shifts and trends. The market is constantly evolving and many financial services are now becoming readily available, due to technological advances. I was overwhelmed and unsure what direction to take. However, I was introduced to Tsega Eyob and, instantly I felt as if she cared about my financial future and that this was someone I could trust. From start to finish, Tsega has attentively led me through the process. I am very pleased with the results. Thank you Tsega.
My appreciation to Tsega Eyob for all the support and advice that you provided me regarding my business. I have used Tsega's service for registering my own business as a Limited Company and helped me with all the paperworks associated with it as well as done my business taxation. Also she helped me in opening my business bank accounts and other general advice. Thank you Tsega, very helpful, appreciate it.
I’ve known Tsega for some time , she’s a hard working, progressive , and result oriented personality with proven financial and accounting expertise.
She has been a pivotal part of our business on financial road map ring fencing in taxation, accounting and how to mitigate any financial risk .
She’s an energetic individual and has a strong work ethic with the ability to work well under pressure.
Thanks for your professionalism.
Thank you Tsega for the great service you have provided and finish my self assessment on time. Tsega is positive, hard worker, helpful and presents herself in a professional manner. If any one is looking for an accountant, I would recommend her for the great service.
I just want to say thank you Tsega for everything you have done for me in providing different services. You are such a wonderful woman, good listener and great adviser .I have learned a lot from you, especially in becoming independent, to be self aware and develop in different areas.
I love the way you approach and deliver your services in a professional way. You are my hero and role model. I will definitely recommend your services to anyone looking for an accountant. Thank you, keep it up.
Thank you Tsega for the amazing service you are providing. Tsega helped and guided me to complete my sole trader taxation and other services. Tsega is a very helpful, patient and dedicated person to her work. She is ineffable. keep the good work Tsega.
The service provided by Tsega was great, effective and thorough. My priorities were met to my expectations.The service was executed very well, I was given a lot of advice and help which was very encouraging. I would highly recommend using her platform. Thanks Tsega.
Great services, very happy and would recommend to using the service.
Very happy by the service provided by Tsega Eyob. She is very helpful, informative, responsible, professional and organised. I can not complain and I will definitely use her service again. Thanks Tsega. I appreciate your service.
Amazing service Tsega. I really admire you. Your services are wonderful in all areas. Most importantly, she is reliable and done the job professionally, perfectly and in no time. I really recommend her service to any one who is looking for an accountant. Keep the great job Tsega. I will definitely use the service again. Thank you👍👍
Thanks Tsega for the wonderful service you have provided to complete my self assessment tax return for the last 4 years. Tsega is friendly, very helpful and easy to talk to and ask for any information.
I am happy to use your service and would recommend it to anyone.
I would just like to compliment Tsega Eyob. She has been most professional and gone to great lengths to assist me. Her patience with me as I continuously changed my plans is to be commended.
Many thanks for your kind and efficient service. I have already and will definitely continue to recommend your services to others in the future. Great service and very informative.
I am very grateful for the services I get from Tsega Eyob. Professionally done my Tax Returns on time. I would definitely recommend her service and use it again. Thanks Tsega.
Tsega helped me so much with all my queries. She is passionate about what she does and provides the best service!. She is amazing, helpful and driven because of this, she ensures she achieves the best for her clients. I will definitely recommend Tsega to everyone I know and definitely come back to her if I ever need her service again. Thank you so much for all you have done!!
Tsega Eyob is my accountant. I use her service for my Self Assessment Tax Return and other general advice. Tsega provided me with great advice and services. She is really helpful and friendly. She gave me all the information needed clearly and did my paperworks professionally. I would definitely recommend her services. Thanks Tsega.
An excellent service was provided for my business's annual Tax Return. Tsega has given me a valuable advice and always work so passionately to make sure my business get the best result. Very friendly and helpful. I would definitely use the service again and recommend her.
Many thanks Tsega.
Thank you so much for your kind approach and service Tsega. I really appreciate you for taking the time to sort my accounts and finalise my annual Tax return self assessment. I look forward to using your service again in the future!
Thank you for the diligent work done on my tax return. I am very happy with the service and relieved when you met the deadline. I really appreciate you spend your time and make things go much smoother on my business.
I have been working with Tsega Eyob accounts for a few years now, and I am very happy with the service provided for my business, after being highly recommended to me.
Tsega has provided me annual self assessment tax return and other general services. She has helped me an efficient and professional way. I will definitely use her service again and would recommend to anyone looking for an accountant. Thanks Tsega for your kind, friendly and helpful approach.
I've been using Tsega's services for the past two years for my annual returns. She is very responsive and patient with my questions and happy to jump on the phone when needed. Her advice is helpful and meets you where you are. I had a wonderful experience and I would highly recommend this service to others.