Welcome to Greenway Accountancy
We are passionate about accounting…
Our online bookkeeping, tax and accounting services are simplified, efficient and cost effective.
Just send us all your paperwork, and we will do the rest!
For us, the key to delivering outstanding accounting services is understanding you, your business, and your aspirations, and then tailoring our approach and services accordingly to help you achieve your goals.
Greenway Accountancy specialises in providing bookkeeping, tax and accounting services to small and medium size businesses, whether it be a small third generation rural business or a new entrepreneurial venture in one of the UK’s thriving urban districts.
By working with clients from different industries and by listening to their bookkeeping, accounting and tax service requirements, Greenway Accountancy has developed professional services that are designed to fit entrepreneurs’ work patterns, and that offer support to businesses without them having to “break the bank”.
Accounting services that fulfil all legal, professional, and personal requirements are crucial for the success of every business. So we have built our accountancy practice around your needs, to be a core partner in your growth and success.
Our services do not require the use of any software or special business account, simply send us all paperwork and we will do the job.
Greenway Accountancy has a vision to be the independent accounting services provider of choice. An exceptionally dedicated professional service – just a click away!
ABC Small Business Accounting Services!
ABC Comprehensive Accounts is our package that covers all business essentials that you need to effectively run your business. For a fixed monthly fee you get an all year round bookkeeping service, monthly management reports, year-end accounts, VAT submission and returns, Corporation Tax Returns, and Personal Taxation.
Bookkeeping has never been easier!
Greenway Accountancy can help you with all your general bookkeeping requirements. You don’t have to purchase or use any bookkeeping software, all you have to do is to send us your invoices along with the bank statements and we will keep accurate records for your business activities.
Prices start from as little as £48 + VAT a month.
Are you a freelancer?
We have developed all-inclusive accounting package that covers all your bookkeeping, accounting, and TAX needs.
Concentrate working in your field, leave the accounting to us. Services start from £76 + VAT a month.
Starting a Business
Starting a business comes with its own legal implications and therefore, calls for proper decision making. Whether you decide to incorporate your business as a partnership, limited company or any other structure, you must be aware of the related costs, responsibilities, and the likely liabilities. Most importantly, you must ensure that you comply with all the legal requirements related to the registration, licensing and any other legal process during the startup.
Before starting a business, it is crucial that one decides whether to start from scratch, buy an existing business, merge or do a franchise. To avoid possible future disputes, ensure that the partnership duties, rights, shareholder agreement among other legal contract matters are set out clearly before embarking on the business.
Picking a business name could impact heavily on the business success. Despite the fact that most people perceive a business name as an afterthought, it is one the most important marketing assets in the corporate world. One has to ensure that the name picked doesn’t conflict with the existing laws or conflict with certain interests. For instance, one has to ensure that the chosen name or trademark doesn’t match with those of the already existing and registered companies.
Choosing the Right Legal Business Form
Deciding on the right business form requires thorough preparations and critical thinking, especially in a situation where more than one individual(s) is involved. At times, one may end up establishing a business relationship without intending to do so. For instance, equal personal liability to business debts may occur in a partnership.
Despite the higher costs and administrative burdens involved, most business owners prefer registering their businesses as limited companies. This is why quite a high number prefer sole-proprietorship form because of the simplicity and the straightness involved. Limited Liability Partnership (LLP) is another better alternative when forming a limited company. Tax Obligations on the different forms of business and personal liability are also some of the key considerations that shouldn’t be ignored.
It is always very important that one thinks over and over again before buying a new business or investing in a franchise. Generally, addressing all the important legal issues when starting business streamlines the process and avoids unnecessary penalties and fines.
Company Registration and Other Requirement
Regardless of the form of business, notifying the HM revenue & Customs is compulsory. In addition, it is necessary to comply with tax deductions such as PAYE and National Insurance for employees. VAT registration may also be required depending on the form of business and the nature of transactions involved. It is also important to understand the fact that some businesses require a license or unique registration processes.
In addition to the above, health, safety and environmental standards must also be given consideration. They are mostly important for businesses that are located in a particular location or premises.
Do You Need A Payroll System?
Provided your business has employees, you need a payroll system running in order to succeed. Apart from streamlining HR operations, a payroll system ensures that the Income tax & National Insurance deductions and other legal obligations are met. With that said, how then, do you find the best payroll system for your business?
Some businesses used to rely on manual payrolls but since the introduction of HMRCs Real Time Information (RTI), new requirements have made it impossible to virtually depend on the old systems. Every time a business runs a payroll, it is required by RTI to submit information electronically to HMRC. This is also done through the RTI systems.
Many businesses face challenges putting up with the complications of the auto-enrollment system of pension contributions. The free HMRC Payroll Tool is an option for businesses with fewer than nine employees. However, the major downside with using basic HMRC Payroll System is the time consumed and the inability to be used with firms that take on more employees. Firms that use basic HMRC do outsource their payroll upon expansion or transfer the employees’ data to an electronic payroll system.
Majority of the payroll systems already in place are integrated with features that enable them to handle RTI and process auto-enrollment. It is possible to complete key payroll forms and submit them to HMRC. Delay penalties in filling information and errors are greatly minimized because the payroll system does all the calculations.
- The system helps in avoiding calculation errors and saves time. There are many allowance changes and rates involved.
- Helps simplify complicated calculations such as pension contributions and student loan repayments.
- The payroll system alerts you when anything looks odd, especially when you are inputting data.
- There is a risk of losing data to system crushes, payroll errors and virus attacks, especially when tax rules are improperly implemented
Picking a Payroll System
Any payroll system processes the data at hand and clearly shows the deductions. Whichever choice you make, ensure that the payroll system gets recognized by HMRC and that it can compute income tax, NI and taxable benefits. Sage, Intuit and Iris are some of the renowned payroll software providers for small-scale firms. Also note that payroll service providers have different policies. Some charge an extra fee for every additional employee while others make monthly or annual charges for their services. However, the good news is that most payroll system providers allow their clients to run their trial version for free. You can always inquire from your accountant or other small scale businesses about the type that they use.
Payroll System Management
Most businesses opt to outsource their payroll in order to cut on costs and save time. Perhaps, this happens because of the low fee charged by dedicated payroll bureaus. The do a pretty good job provided you present to them payroll details. Alternatively, outsourcing to an accountant may be given consideration too but it comes with a higher cost. Another option could be to upgrade the existing payroll systems and let the accountant do his or her work. Outsourcing may seem like the last option but when administrative costs and time are taken into consideration, one realizes that it is a much better way to go. Generally, costs will normally depend on the number of employees in a given business. Usually, accountants get notified when a new employee starts a job in order for them to manually update their own. This is why using a recognized electronic payroll system is more preferred because of the ability to process all the information as required by the HMRC.
Bitcoins accepted here! The Secret of a cryptocurrency.
Greenway Accountancy is proud to announce that now we are able to receive payments for our services in Bitcoins. Working with a number of IT contractors, we noted the growing interest in cryptocurrencies and would like provide simplified payment approach.
What is Bitcoin?
In short, Bitcoin is usually the most popular digital currency, also known as cryptocurrency that is used as a medium of exchange. A person known as Satoshi Nakamoto came up with this idea to have virtual money in October 2008. The operation of bitcon was moving with Genesis on 3rd January, 2009 by starting Source Forge’s free source project. In the four years successively, the quantity of units in circulation has extended inordinate than 10.5 million units. This is half the overall number (21 million) of units this currency can ever have, and it is designed with solid coding. A Bitcoin unit or BTC is usually divided into 100 million units in trade operations. These smaller units are satoshis (like pennies).
Bitcoin is really a regionalised peer of the realm to see currency. It is attached to the computer of each individual utilizing it. In other words bitcoins are internet-based money that is made secure through computer code. The transactions using digital currencies happen in seconds and there is absolutely no transaction fee required. The best part is the fact that nobody can over-control the bitcoins’ network.
If you are penetrating for digital currencies, then you definitely must know how to choose bitcoins too. Some people say that it’s really tough to deal with bitcoins. The truth is getting bitcoins is very easy. In fact, it is quite hassle free than opening banking accounts.
How to trade or get bitcoins?
If you want to know how to choose bitcoins, you should start learning to use the wallet software. Then you should mug up how to send and receive cash so that you can actually purchase bitcoins. To start with, you’ll need a bitcoin wallet. You need to register on a website that host wallet system, or alternatively you can download a wallet application on a Smartphone, Ipad or tablet. When you could possibly get into the exchanges, you will require more wallets. You should have one on your own personal computer too to understand bitcoins because some experimental exchanges are going to be involved. If you want to maintain money safe, it can be best to keep on in moving it by swapping coins.
You can buy bitcoins by exchanging with online bitcoin exchanger websites. There are plenty of websites now available that facilitate inside purchase of digital currencies. But most popular method of having bitcoins is to mine them with mining software. Every bitcoin that exists today was mined from the Bitcoin Mining Network.
After all, it will not require much time before people start accepting and adopting to this thriving virtual currency system that is more secure, open and independent.