We are a chartered practice, regulated by the ACCA.
We are currently an 12-person practice.
We do not outsource any aspect of our accounting or bookkeeping.
We are predominantly online in our delivery, but you can also have a cup of coffee at our Hoxton, London offices.
Most communication is via email, and for longer or more involved topics we may chat on the phone or a video call. We draw on a large and highly ecommerce relevant knowledge bank built up over the years and as such can typically give a complete answer within 1-3 working days.
We assign you one of our accountants when you come onboard and this will be your main point of contact: the person who handles your tax filings, provides ad-hoc advice, and gets to know your business. If we are handling your bookkeeping, you will also have a dedicated bookkeeper .
We use a software called Karbon to manage our workflow. This lets us define schedules for work so no deadline gets missed. You receive simple electronic checklists of tasks whenever we need anything from you; you can simply upload docs or comment the answer as appropriate, and discussions about specific tasks stay in one sensible place rather than buried in email chains.
We use Receipt Bank for efficient invoice capture. All you do is forward invoices on email (including images of receipts) to your dedicated email address, e.g. [email protected]receipt-bank.me, and we do the rest: reading, matching and categorising expenses.If you have regular suppliers, just set up an auto-forwarding rule. If you have tons of paper expenses, download their app and quickly snap pictures of them for instant upload.
We have processes and internal software developed to handle data from Amazon, Shopify, eBay, Etsy, Magento, WooCommerce, Wix, and more. We are also able to work able to work with bridging software such as Link My Books and A2X which aids in delivering continuity for clients who are already using these software packages.
We get your platform data for you, regardless of platform as we are not reliant on external software to handle this data. With us, the only thing you need to do is forward us your expenses (and occasionally renew your bank feed connection).
98% of our clients are ecommerce businesses, and the other 2% are clients side businesses like contracting/consulting companies or property companies. We currently serve 250+ companies.
We routinely deal with global sellers and help with their queries on international tax. While we cannot file international tax returns for you, with the exception of digital service VAT MOSS returns, we know how best to go about complying and will introduce you to the appropriate partners as and when required.
We will show you how to access your management reports as part of our bookkeeping set up with you. Reviewing your management reporting is available on request.
We have standardised pricing which applies to roughly 95% of our clients, the other 5% being businesses at the £2m+ mark where accounting needs start to become substantially more varied. This is something we are able to offer due to our exclusive focus on the ecommerce sector.
We do not charge a set up fee for taking on a new client. Your bookkeeping set up is free, as we want to see you set up correctly from the start which saves everyone hassle down the line.Work that we consider out of scope which we may charge you for additionally if requested includes :
- advisory and research work that is not relevant to UK tax law VAT, e.g. US Sales Tax returns (although we do provide limited guidance on this topic as it is relevant to our client base)
- work that requires not just advice but also preparation work, e.g. an R&D claim
- personal tax advice (with the notable exception of tax advice on the right salary and dividend pay structure which is included as standard), e.g. residency tests, financial and investment advice, etc.
We operate on a monthly rolling contract. If you leave part way through your first year with us, we will refund all fees for work not rendered, minus one month's accounting fee to cover the initial set up and admin work. If you leave in the second year or later we will refund all fees for work not rendered.'Work not rendered' means work not yet carried out for you. For example, if you have paid us 10 months of accounting fees and 10 months of bookkeeping fees, and you leave in your first year, we'll refund you 9 months of accounting fees and 1 month of bookkeeping fee (assuming we have completed your books up until the end of the ninth month).
We do not believe the practice of charging VAT investigation insurance is fair because the trigger for VAT investigations is quite predictable, and over time will almost certainly work out as bad economy for you.We charge based on the nature and complexity of the VAT investigation, which are typically resolved quickly since we have plenty of relevant experience and prepare our VAT returns in a manner that makes VAT investigations quick to handle.
We can get started the next day after signing you up, and typical turnaround time for being introduced to your accountant is five working days. We have built in flexibility to our workflow management so that we can accommodate the occasional urgent case.Whenever you begin speaking with us, you will speak to one of the two partners of our firm, who will be in a position to tell you with a fair degree of certainty if something is possible or not.
Ecommerce Accountants Rules of EngagementThe goals of these rules are to help us serve our clients well, make sure expectations are met, and create a great and lasting working relationship.Our commitments to you:
- We have processes in place to ensure that we respond to all emails you send us in a timely manner.
- In our communication with you we are polite, proactive, constructive, concise, and if it is possible humorous (but no guarantees for the latter).Our 5 requirements of you:
- If we schedule a meeting, you join on time (or cancel ahead) We occasionally schedule audio/video calls to speak with you for more complex topics or when setting up a new service. Missed meetings cost time and deny others the opportunity to use this slot, so please make sure to use the cancellation or rescheduling links provided in all meeting invites in good time if needed.
- You are responsive to our emails and complete tasks assigned before their deadlines For each of the filings we prepare we will occasionally need input from you. Whenever we need something from you we will assign a task with a deadline to give us enough time to file in time to meet HMRC's deadlines, e.g. for VAT returns we need your expenses for the quarter, by three weeks after the quarter ends, leaving us two weeks to prepare your return. The deadlines we set allow you plenty of time to complete anything required of you, and lets us ensure our workload is manageable across our client base.
- You will be comfortable asking if you are unsure of anything and raise any potential issues early We're rated ⭐⭐⭐⭐⭐ by our clients and and we want to make sure it stays that way! Any, issues, concerns, questions, please raise them early so we can address them before they become a problem.
- Our modes of communication and responsiveness work for you We communicate mainly on email and occasionally on phone/video. If you are looking for an accountancy who you can phone and get an immediate answer all days of the year, this is not us (unless your query is truly urgent - we always run a skeleton shift during holiday periods). Our turnaround time for resolving accounting queries is high because in 99% of cases you will be asking a question another ecommerce client will have asked before you. Better still, we're going to be getting in touch with you proactively when there are changes in tax law that affect your ecommerce business. Our typical turn around time for resolving a query ranges from 1-3 working days depending on complexity. If you tend to send an email at 5pm on a Friday and chase again at 9.15am on Monday (you know who you are 👀), then we're not the right fit for you.
- You are nice! We are a pleasant bunch and we hope you are too! Rarely, but enough to warrant stating as a requirement, the tone of communication we receive is too aggressive or of a "I-pay-you, do-as-I-say" style. Please remember, we're a team of accountants and bookkeepers and (contrary to widely held beliefs) have emotions and skins of various thicknesses. For example, you can swear at Steffen all you like and he will probably give it right back, but in general your communication needs to be positive and constructive. Politeness, conciseness, humour are desirable traits, but not required.