Skillman Accountancy Limited

ACCOUNTANCY SERVICES BASED IN FROME, SOMERSET.

CALL 07745 003054
CONTACT ME BY EMAIL

Welcome to Skillman Accountancy

I offer remote accountancy services to sole traders and partnerships. I find it rewarding working with small businesses and helping them save money and be the best they can be. This can be done by identifying allowable expenses that can be claimed or by analysing areas of your business that have improved or can be worked upon. I am licensed by AAT (Association of Accounting Technicians) for financial accounting, accounts preparation, management accounting, bookkeeping, self assessment tax returns, payroll, company secretarial services, CIS returns and VAT returns.

AAT qualified accountant based in Frome, Somerset.

In business, up-to-date and accurate information is the key to success

As well as financial accounting, accounts preparation and management accounting I can show you how to interpret the figures and use them to understand your business, how it has performed over the last year and what decisions you can make for the future based on these figures to ensure future success. A series of blogs have links to guidance and information.

FREQUENTLY ASKED QUESTIONS

Qualifications & Experience

AAT (Level 4 Diploma in Accounting from the Association of Accounting Technicians) - 2014

FPC (Financial Planning Certificate from the Chartered Insurance Institute) - 1997


I have accountancy experience going back to 2006 and Financial Services industry experience going back to 1994. I have experience of Company Accounts; Bank reconciliation; Companies House returns; Providing cost and revenue information; Cash management; Compiling management information on a monthly or quarterly basis; Preparing and submitting returns to regulators, financial accounting, accounts preparation, management accounting, bookkeeping, self assessment, tax returns, payroll and company secretarial services.

It is rewarding providing accurate accounts and reports for whatever size your business is. I have experience working with sole traders, limited companies and individuals and pride myself on building trusting relationships with all the people I am working for.


Current and previous clients include:

Property Management Company

Arts Centre

Retail Shop (Garden products and gifts)

Delicatessen shop

Complementary Therapist

Homeopathy Therapist

Construction company

A literary history society


Photo Credit: Chris Bailey


Gold service - £50 per month


Bookkeeping/bank reconciliation - 3 hours per month


Preparation & submission of annual statutory accounts/financial reports (balance sheets, profit & loss)


Confirmation statement


Payroll - 1 employee


Discount for referrals


Self assessment return - i director/proprietor


Accruals & Prepayments


VAT returns


CIS returns


Setting up a Limited Company


Unlimited email support


Bill paying service.


KPI (Key Performance Indicators) & Management Information


Quarterly business review meeting

Silver service - £35 per month


Bookkeeping/bank reconciliation - 2.5 hours per month


Preparation & submission of annual statutory accounts/financial reports (balance sheets, profit & loss)


Confirmation statement


Payroll - 1 employee


Discount for referrals


Self assessment return - 1 director/proprietor


Accruals & Prepayments


VAT returns


CIS returns


Setting up a Limited Company


Unlimited email support




Bronze service - £25 per month


Bookkeeping/bank reconciliation - 2 hours per month


Preparation & submission of annual statutory accounts/financial reports (balance sheets, profit & loss)


Confirmation statement


Payroll - 1 employee


Discount for referrals


Self assessment return - 1 director/proprietor




Why hire an accountant?

You could end up paying too much tax because you’ve missed allowable expenses. Or you risk fines and penalties from the Tax Man because you’ve missed taxable income. Or you have to pay higher accountancy fees for the accountant to sort it out. One of the first things to do is reconcile your bank accounts every month. This helps to ensure the accuracy of subsequent profit and loss reports, balance sheet reports and tax returns. Employing an accountant can free up your time to concentrate on your business, give advice and help when you need it. This can also give you peace of mind and having someone you can trust can ultimately help your businesses to:

Make changes and progress

Save money

Become more efficient

Improve productivity

Know which areas to focus on

Strengthen or expand areas which are more lucrative

SERVICES:

Bookkeeping & Bank reconciliation

Statutory accounts

Confirmation statement

Payroll

VAT returns

CIS returns

Setting up a Limited Company

Unlimited email support

Bill paying service

Key Performance Indicators

Quarterly business review meeting

Self assessment return - 1 director/proprietor

One month fee discount for referrals

BENEFITS:

Accurate recording of financial transactions

Balance Sheet and Profit & Loss reports

Annual return to Companies House

Monthly processing for employees

Quarterly returns to HMRC

Monthly returns to HMRC

Registering with HMRC and Companies House

Help and assistance when required

Make payments to suppliers

Profitable areas? Has this changed?

To review what has worked and to plan ahead

Annual returns to HMRC

Discount per referred paying client.

“John is very approachable person and easy to work with. He listens to your concerns and queries and resolves them .

All of the accounts and reports are clear and easily understandable. Personally I feel it is more supportive to have an accountant to present one’s accounts, they know all the small legalities and have the skills to complete them online (especially if you are older and do not want to spend time doing them). John was very kind and willing to make home visits and to collect and return all paperwork that I had presented, this can be very helpful in a rural community.”

S.G. - Dorset

“I needed a cost-effective way of providing accurate financial accounts to the members of our society. This is a literary society of which I am the Treasurer. It was a requirement of our constitution that accounts were presented every two years but our funds are limited. I approached John Skillman and was happy with his terms. He has provided us with this service now on three occasions and I have been more than happy with it. A bonus is that he is always willing to give advice about our finances and how they should be presented. I would recommend him to any small society, like ours.”

M.S. - Wiltshire

“Having John as my accountant for the last 10 years has made my life so much easier. I now dedicate my time to working with my clients and not having to worry about my finances. He is helpful, easy to talk to, knowledgeable and thorough. He is also available to talk things through in a way that I can understand. In addition, by showing me the allowable expenses John has also reduced my tax bill.”

N.H. Somerset

“John Skillman has looked after the accounts for our building's Management Company for over ten years. As a group of private owners we don’t require bells and whistles, just simple communication and unfussy, efficient management of our shared funds as and when needed. John has provided this and is always quick to respond to requests whether it be for payment to a tradesperson for work carried out on the property or arranging our yearly group buildings insurance. He has also presented our yearly accounts in a suitably professional format and submitted them to Companies House in a timely manner. In short, he takes care of our accounting needs in an unobtrusive, approachable and professional manner. One less thing to worry about! Highly recommended”

F.J. - Somerset

Quickbooks Online

I use Quickbooks Online for my accounting software and I am a Quickbooks Online Certified ProAdvisor and a Quickbooks Making Tax Digital Pro Advisor. I can be found in the Quickbooks directory.

I am an AAT (Association of Accounting Technicians) Member in Practice and I can be found on the AAT licensed members directory and also the Bark directory.

Initial consultation/My location

I am based in Frome, Somerset, BA11 1LA (and visit clients in the surrounding areas (Warminster, Trowbridge, Bath). A remote service is available if further afield. I offer a free 30 minute initial consultation, which allows us to meet in person or via Zoom to discuss your requirements further. Evening appointments available. Contact me to discuss your preferred options.

Get in touch

Feel free to contact me if you have any questions about your accountancy options, or to arrange an initial consultation. This enables us to discuss your requirements and agree on a plan of action.


You can also call me on 07745 003054 if you would prefer to leave a message or speak to me first. I am happy to discuss any queries or questions you may have prior to arranging a free initial consultation.

Some frequently asked questions

Should I be a sole trader or a limited company?

Limited Company - limited by shares

Limited by shares companies are usually businesses that make a profit. This means the company is legally separate from the people who run it, has separate finances from your personal ones, has shares and shareholders and can keep any profits it makes after paying tax.


Sole trader

If you’re a sole trader, you run your own business as an individual and are self-employed. You can keep all your business’s profits after you’ve paid tax on them. You’re personally responsible for any losses your business makes. You must also follow certain rules on running and naming your business.


Further details and other options can be found on the HMRC website here.

How can I lower my tax liability?

If you’re self-employed, your business will have various running costs. You can deduct some of these costs to work out your taxable profit as long as they’re allowable expenses. e.g. if your turnover is £40,000, and you claim £10,000 in allowable expenses, you only pay tax on the remaining £30,000 - known as your taxable profit.

Do I need to keep records?

You need to keep records if you have to send HM Revenue and Customs (HMRC) a Self Assessment tax return. You’ll need your records to fill in your tax return correctly. If HMRC checks your tax return, they may ask for the documents. You must also keep records for business income and outgoings if you’re self-employed. There are no rules on how records must be kept. You can keep them on paper, digitally or as part of a software program (like book-keeping software). HMRC can charge you a penalty if your records are not accurate, complete and readable.

Do I need to be VAT registered?

You must register your business for VAT with HM Revenue and Customs (HMRC) if its VAT taxable turnover is more than £85,000. When you register, you’ll be sent a VAT registration certificate. This confirms your VAT number, when to submit your first VAT Return and payment and your ‘effective date of registration’. You can register voluntarily if your turnover is less than £85,000, unless everything you sell is VAT exempt. You’ll have certain responsibilities if you register for VAT. You can reclaim the VAT you’ve paid on certain purchases made before you registered.

I am a construction company. Do I need to register for CIS?

You must register as a contractor with the Construction Industry Scheme (CIS) if you pay subcontractors to do construction work or if your business does not do construction work but you have spent more than £3 million on construction in the 12 months since you made your first payment. You may be a sole trader, in a partnership or own a limited company.


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