CINXE.COM

Accounting for startups + accounting software | Complete guidance from F6S - F6S Services

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You can change your mind about receiving information from us as set out in our policies.</p><div class="form-block w-form"><form id="wf-form-Accounting-Services" name="wf-form-Accounting-Services" data-name="Accounting (Services)" method="get" class="side-by-side" data-wf-page-id="639c76e7c216ec59c52999b7" data-wf-element-id="00ff99b9-075b-0ee6-8ee7-f21f2a18da75"><input class="ctatextfield w-input" autofocus="true" maxlength="256" name="phone-email-2" data-name="Phone Email 2" placeholder="Phone number or email please" type="text" id="phone-email-2" required=""/><input type="submit" data-wait="Please wait..." class="servicescta w-button" value="Try For Free"/></form><div class="success-message-2 w-form-done"><div>We&#x27;ll get in touch right away<br/></div></div><div class="error-message-2 w-form-fail"><div class="text-block-2 hero">Try again pls, something went wrong</div></div></div></div></div></div><div id="what" class="rdsitesection margin80"><h2 class="servicessectiontitle">Here’s how we help you grow<br/></h2><div class="b21">You may be eligible for a free accounting period <br/></div><div class="servicescalculatorformlabel"><br/></div><div class="sectioncontentcontainer"><div class="columnscontainer"><div target="_blank" class="servicesrichtext w-richtext"><h3>We only serve tech founders so we know what you need<br/></h3><p>We specialize in your unique needs so you can focus on growth. We have pricing for most stages of a startup&#x27;s growth and there is a fee if we get you R&amp;D relief or a grant. There&#x27;s still no charge if we don&#x27;t get you cash. Reach out and we&#x27;ll let you know quickly if your tech startup qualifies.<br/><br/></p><h3>Set up all HMRC and companies house accounts and services<br/></h3><p>It can be confusing to navigate the different HMRC interfaces and services. HMRC and Companies House are making strides in improving online interfaces, but many clients come to us frustrated by the options and specialized jargon. Leave it with us to do perfectly.</p><h3>Payroll</h3><p>We’ll get you registered at HMRC (or validate your current registration) and help you pay employees and directors through payroll. If you need help, we’ll even help you calculate and submit your PAYE every month or pay period with the software we provide. You can do many payroll submissions directly through HMRC but most founders, SMEs and startups use software like we provide for free. It makes the job easier, faster and more transparent in most cases. We’ll also prepare and file your annual employer&#x27;s PAYE submission with HMRC. Payroll should be easy - we’re ready to help.</p><p>‍</p><h3>VAT services</h3><p>We’ll set up your VAT return, advise on when and how to charge VAT, complete your VAT return and answer any questions you have. The rules around VAT can be quite complex, particularly when you are selling abroad. Many clients come to us with past VAT disputes or misunderstandings. We’re happy to work with you to sort them out so you can have smooth sailing going forward.</p><p>‍</p><h3>SEIS/EIS</h3><p>SEIS and EIS are government programs that help startups and SMEs raise equity finance. We’ll advise on SEIS/EIS requirements and complete all necessary paperwork. At completion of your SEIS or EIS application we’ll make sure you get the SEIS/EIS certificates that you’ll want to provide to investors. We love it when you grow and want to help keep your investors happy.</p><h3>Online accounting platform included</h3><p>Quickbooks online software to keep your financial information at your fingertips. Includes free bank feeds, real-time reporting and more. We’ll even train you up on how to use it and answer any questions.</p><h3>Statutory annual accounts<br/></h3><p>Our accountants will complete and submit your full annual accounts to HMRC.</p><h3>Corporation tax and dividends<br/></h3><p>This is a particularly important one for tech founders, given the role that <a href="https://www.f6s.com/rd-tax-credits">R&amp;D tax credits</a> and other calculations related to corporation tax play for many of us. We’ll help complete and submit your annual corporation tax returns.</p><p>‍</p><h3>Audits</h3><p>F6S Startup Accounting provides free or discounted audits. Many tech startups require audits for grant compliance or for compliance with licensing. The most common grants requiring audit in the UK are for Innovate UK and relate to the requirement to have an independent audit for claims you submit. Any grant audit requirement should be mentioned in your award letter. F6S is an expert in grant audits and can make the process smooth and transparent. There are other reasons a tech startups would need an audit ranging from investor requirements to license compliance. </p><h3>R&amp;D tax relief advice<br/></h3><p>We are experts in serving tech startups and SMEs. So it’s not a surprise that we are specialists that love to get you as much money through R&amp;D Tax Credits as possible.</p><h3>Advice included</h3><p>This is one of the reasons tech founders love F6S Accounting. You can book time with your accountant to discuss any queries, strategy, accounting tips, and much more. Our focus is always on helping to resolve your issue so you can get back to growing your tech startup<br/></p></div></div></div></div><div class="rdsitesection sectionbackground servicesshadowbuffer"><h3 class="servicessectiontitle">F6S has helped thousands of technology startups like you</h3><div class="sectioncontentcontainer w-container"><div bind="208c678f-16c4-51d3-4b42-a451e7783335" class="collection-list-wrapper w-dyn-list"><div bind="208c678f-16c4-51d3-4b42-a451e7783336" role="list" class="w-dyn-items"><div bind="208c678f-16c4-51d3-4b42-a451e7783337" role="listitem" class="collection-item w-dyn-item"><img width="112" bind="208c678f-16c4-51d3-4b42-a451e7783338" alt="Founder of a Level 39 Fintech company" src="" class="image w-dyn-bind-empty"/><div class="div-block"><a bind="208c678f-16c4-51d3-4b42-a451e778333a" href="#" class="link-7">Founder of a Level 39 Fintech company</a><a bind="208c678f-16c4-51d3-4b42-a451e778333b" href="#" class="link-8 w-dyn-bind-empty"></a></div><p bind="208c678f-16c4-51d3-4b42-a451e778333c" class="paragraph-5">&quot;A highly professional team ensuring our financial accounts are accurate at all times, always at hand to help when we are stuck and the R&amp;D tax claims have been taken care of by the F6S team which saves our small team a lot of time and effort. Finally, reasonable fees!&quot;</p></div><div bind="208c678f-16c4-51d3-4b42-a451e7783337" role="listitem" class="collection-item w-dyn-item"><img width="112" bind="208c678f-16c4-51d3-4b42-a451e7783338" alt="Founder of a Software Development company" src="" class="image w-dyn-bind-empty"/><div class="div-block"><a bind="208c678f-16c4-51d3-4b42-a451e778333a" href="#" class="link-7">Founder of a Software Development company</a><a bind="208c678f-16c4-51d3-4b42-a451e778333b" href="#" class="link-8 w-dyn-bind-empty"></a></div><p bind="208c678f-16c4-51d3-4b42-a451e778333c" class="paragraph-5">&quot;F6S was really helpful from the start and is the best thing for me as an entrepreneur. The F6S Accounting Service made life so easy for me and my business. I am a member of a Facebook group for start-ups with tens of thousands of members and I never stop recommending F6S Services to all other start-ups&quot;</p></div></div></div><div class="servicescalltext">Call 074 0129 5965 or email <a href="mailto:cashback@f6s.com?subject=Re%3A%20Free%20Accounting%20Consultation" class="serviceslink">cashback@f6s.com</a></div></div></div><div class="ctasectionshadow"><h3 class="servicessectiontitlesecondary">Find out how we can help</h3><div class="ctacontainer"><p bind="fe59a868-a163-4cef-8528-d40ef0482202" class="gdpr-text">By providing this personal information, you confirm you agree to us using it to provide our services and to keep in touch regarding information we think may interest you. You also confirm agreement to the <a href="https://www.f6s.com/terms" target="_blank" class="gdpr-link">Terms of Service</a> and <a href="https://www.f6s.com/privacy-policy" target="_blank" class="gdpr-link">Privacy Policy</a>. You can change your mind about receiving information from us as set out in our policies.</p><div class="form-block w-form"><form id="wf-form-RD-Article-Services" name="wf-form-RD-Article-Services" data-name="RD Article (Services)" method="get" class="side-by-side" data-wf-page-id="639c76e7c216ec59c52999b7" data-wf-element-id="16b0bbaa-dc6d-5ee4-4fe1-129cb033307e"><input class="ctatextfield w-input" maxlength="256" name="phone-email-2" data-name="Phone Email 2" placeholder="Phone number or email please" type="text" id="phone-email-2" required=""/><input type="submit" data-wait="Please wait..." class="servicescta w-button" value="GET FREE CONSULT"/></form><div class="success-message-2 w-form-done"><div>We&#x27;ll get in touch right away<br/></div></div><div class="error-message-2 w-form-fail"><div class="text-block-2 hero">Try again pls, something went wrong</div></div></div></div></div><div class="rdsitesection servicesshadowbuffer"><h2 class="servicessectiontitle">Accounting services for tech startups and SMEs<br/></h2><div class="sectioncontentcontainer"><div target="_blank" class="servicesrichtext w-richtext"><h3>Online accounting platform<br/></h3><p>We provide free Quickbooks to our clients. It’s all about you so we also serve clients that use Xero, Freeagent or another solution if you’ve already become a fan. Whatever platform you use with F6S Accounting, you get your bank accounts linked so it automatically updates what you spend and ear. We’ll set you up so your software supports VAT, Payroll and reporting for both yourself and anyone external like investors. The idea is to put you in control of your day-to-day finances without adding additional work.</p><p>We’ll train you up and your accountant is there to help.</p><p>‍</p><h3>VAT Services<br/></h3><p>First, we help you figure out if it’s necessary to submit your VAT return to HMRC. All companies and startups with a turnover above the VAT registration threshold must submit a VAT Return. In some cases, you may be able to get a VAT refund (rather than pay VAT) even if your turnover is below the threshold. For larger startups and SMEs there’s the decision on whether to sign up for the Flat Rate Scheme, Cash Accounting Scheme or Annual Accounting Scheme. Our team of accountants will help you decide what’s best for you and make it so.</p><p>Typical activities we helps companies, SMEs and startups with are registering for VAT, signing up for VAT Mini One Stop Shop (VAT MOSS), changing VAT registrations and preparing and filing quarterly VAT Returns to HMRC.<br/></p><p>‍</p><h3>Payroll</h3><p>Pay-as-you-earn (PAYE) is HMRC’s system to collect Income Tax and National Insurance from employees.</p><p>F6S will help you to register for PAYE online, make any changes to your Payroll registration and be your authorized agent for Payroll with HMRC. Your accountant will calculate your employees tax contribution and prepare your annual employer’s PAYE.</p></div></div></div><div class="servicescolorbackground margin40"><h3 class="servicessectiontitlesecondary">F6S can help with your accounting<br/></h3><div class="ctacontainer"><p class="gdpr-text">By providing this personal information, you confirm you agree to us using it to provide our services and to keep in touch regarding information we think may interest you. You also confirm agreement to the <a href="https://www.f6s.com/terms" target="_blank">Terms of Service</a> and <a href="https://www.f6s.com/privacy-policy" target="_blank">Privacy Policy</a>. You can change your mind about receiving information from us as set out in our policies.</p><div class="form-block w-form"><form id="wf-form-SRED-Article-Banner-Form-Services" name="wf-form-SRED-Article-Banner-Form-Services" data-name="SRED Article Banner Form (Services)" method="get" class="side-by-side sred" data-wf-page-id="639c76e7c216ec59c52999b7" data-wf-element-id="4104ebee-b23d-6b1f-ca94-c1a108302de6"><input class="ctatextfield w-input" autofocus="true" maxlength="256" name="phone-email-2" data-name="Phone Email 2" placeholder="Phone number or email" type="text" id="phone-email-2" required=""/><input type="submit" data-wait="Please wait..." class="servicescta-2 w-button" value="GET FREE CONSULT"/></form><div class="success-message-4 w-form-done"><div>We&#x27;ll get in touch right away<br/></div></div><div class="error-message-2 w-form-fail"><div class="text-block-2 hero">Try again pls, something went wrong</div></div></div></div><div class="highlightscontainer rd"><p class="highlight rd">Hassle free</p><p class="highlight rd">Dedicated accountant</p><p class="highlight rd">Tech startup specialist</p></div></div><div class="rdsitesection sectionbackground"><div class="sectioncontentcontainer"><div target="_blank" class="servicesrichtext w-richtext"><p>‍</p><h3>Statutory accounts</h3><p>Every company needs to file annual accounts to report on business activity throughout the financial year. The requirement is still in force even if you’re not trading. Your accounts need to follow the official UK accounting standards and should formatted as required by HMRC and Companies House.</p><p>Our team of accountants will complete your accounts. This includes cleaning up your transaction history throughout the year, building your profit and loss accounts, balance sheets, and additional notes. These will be prepared in line with correct accounting standards and file formats for submission to Companies House and then to HMRC as described next.</p><p>‍</p><h3>Corporation tax and dividends</h3><p>Corporation Tax is filed on an annual basis to HMRC. Your tax return consists of the corporation tax computation and CT600. The CT600 is a template document - basically a form - provided by HMRC. The computation and CT600 present how much profit or loss your company or startup made in the financial year. This computation for corporation tax can be different to the profit or loss in the annual accounts. It includes the amount of corporation tax the company owes on its profits.</p><p>F6S will build these for you using your annual accounts. Your accountant will format and file or assist you in submitting your CT600 to HMRC. Your accountant will also generate dividend vouchers and associated minutes as required.</p><p>‍</p><p>‍</p><p>‍</p></div></div></div><div class="ctasectionshadow"><h3 class="servicessectiontitlesecondary">Find out how we can help</h3><div class="ctacontainer"><p bind="fe59a868-a163-4cef-8528-d40ef0482202" class="gdpr-text">By providing this personal information, you confirm you agree to us using it to provide our services and to keep in touch regarding information we think may interest you. You also confirm agreement to the <a href="https://www.f6s.com/terms" target="_blank" class="gdpr-link">Terms of Service</a> and <a href="https://www.f6s.com/privacy-policy" target="_blank" class="gdpr-link">Privacy Policy</a>. You can change your mind about receiving information from us as set out in our policies.</p><div class="form-block w-form"><form id="wf-form-RD-Article-Services" name="wf-form-RD-Article-Services" data-name="RD Article (Services)" method="get" class="side-by-side" data-wf-page-id="639c76e7c216ec59c52999b7" data-wf-element-id="379f1a83-159a-501f-3504-bdd63df2d39d"><input class="ctatextfield w-input" maxlength="256" name="phone-email-2" data-name="Phone Email 2" placeholder="Phone number or email please" type="text" id="phone-email-2" required=""/><input type="submit" data-wait="Please wait..." class="servicescta w-button" value="GET FREE CONSULT"/></form><div class="success-message-2 w-form-done"><div>We&#x27;ll get in touch right away<br/></div></div><div class="error-message-2 w-form-fail"><div class="text-block-2 hero">Try again pls, something went wrong</div></div></div></div></div><div class="rdsitesection servicesshadowbuffer"><h2 class="servicessectiontitle">FAQs<br/></h2><div class="sectioncontentcontainer"><div class="servicesaccordioncontainer"><div class="rdaccordionitem"><div bind="89ed28d7-d994-3d5d-79cd-de92604a1e7b" class="rdaccordiontitle"><div class="rdexampletitle">How can accounting software help me with bookkeeping?<br/></div></div><div class="rdaccordioncontent"><div class="servicesrichtext w-richtext"><p>We set up your accounting software to lighten the bookkeeping load. It links to your bank account so your bank transactions feed directly into your account and can be explained regularly so you know where you are spending and earning money. There are also features to manage invoices that people owe you, bills you have to pay and expenses that you need to get paid back by the company.<br/></p></div></div></div><div class="rdaccordionitem"><div class="rdaccordiontitle"><div class="rdexampletitle">What additional support can my accountant provide?<br/></div></div><div class="rdaccordioncontent"><div class="servicesrichtext w-richtext"><p>Your accountant’s help is tailored directly to what you need. All our accountants have extensive experience helping startups at all stages - from before you have a company all the way through to Series A. They understand how you work and know that solving the issue so you can get back to growing is top priority. Some of our accountants have even started their own companies. They help you with everything you need ranging from SEIS/EIS, raising funds, EMI options and general tips and tricks to ensure your accounting is optimised.<br/></p></div></div></div><div class="rdaccordionitem"><div class="rdaccordiontitle"><div class="rdexampletitle">Do we have to be registered for VAT?<br/></div></div><div class="rdaccordioncontent"><div class="servicesrichtext w-richtext"><p>In the simplest case, you have to register for VAT if your business turnover that is VAT taxable is more than £85,000. You are still able to register if your turnover is less than £85,000, unless everything you sell is exempt from VAT. If you are registered for VAT you can claim back any VAT your company has paid through your VAT returns (usually on a 3 months basis). It’s a bit more complicated than that though and you can read more and follow some links in the VAT section above.<br/></p></div></div></div><div class="rdaccordionitem"><div class="rdaccordiontitle"><div class="rdexampletitle">I’m looking to raise funds, can you support me with SEIS/EIS?<br/></div></div><div class="rdaccordioncontent"><div class="servicesrichtext w-richtext"><p>Yes - we’ll even do it for free. Your F6S accountant will support you through the process of gaining SEIS/EIS pre-approval from HMRC and getting certificates to provide your investors. It’s basically a stamp of approval by HMRC that your SEIS/EIS investment round meets their parameters. Your F6S accountant will care of what’s required to take away the hassle from you and your investors.<br/></p></div></div></div><div class="rdaccordionitem"><div class="rdaccordiontitle"><div class="rdexampletitle">I have a company in another country in addition to the UK, can you support me?<br/></div></div><div class="rdaccordioncontent"><div class="servicesrichtext w-richtext"><p>Yes. Startups often have two - or more - companies incorporated in different places. We’re happy to work with your service providers that help you outside the UK.<br/></p></div></div></div></div></div></div><div class="modalcta"><div class="modalcontainer"><img src="https://cdn.prod.website-files.com/5bf8086dc176116541ad2553/5c0576871ef396af3e91b3f9_icon-close%402x.png" alt="Close" data-w-id="ad5298c5-f1a1-4575-23fd-ca3860f27241" class="close-icon close-modal"/><h3 class="modaltitle">Find out how we can help</h3><div class="ctacontainer"><p bind="fe59a868-a163-4cef-8528-d40ef0482202" class="gdpr-text">By providing this personal information, you confirm you agree to us using it to provide our services and to keep in touch regarding information we think may interest you. You also confirm agreement to the <a href="https://www.f6s.com/terms" target="_blank" class="gdpr-link">Terms of Service</a> and <a href="https://www.f6s.com/privacy-policy" target="_blank" class="gdpr-link">Privacy Policy</a>. You can change your mind about receiving information from us as set out in our policies.</p><div class="form-block w-form"><form id="wf-form-RD-Article-Services" name="wf-form-RD-Article-Services" data-name="RD Article (Services)" method="get" class="side-by-side" data-wf-page-id="639c76e7c216ec59c52999b7" data-wf-element-id="6f7c6d1b-7ed2-411a-3bfe-6f63b08430f1"><input class="ctatextfield w-input" autofocus="true" maxlength="256" name="phone-email-2" data-name="Phone Email 2" placeholder="Phone number or email please" type="text" id="phone-email-2" required=""/><input type="submit" data-wait="Please wait..." class="servicescta w-button" value="TRY FOR FREE"/></form><div class="success-message-2 w-form-done"><div>We&#x27;ll get in touch right away<br/></div></div><div class="error-message-2 w-form-fail"><div class="text-block-2 hero">Try again pls, something went wrong</div></div></div></div><div class="highlightscontainer"><p class="modal-paragraph">Hassle free</p><p class="modal-paragraph">Dedicated accountant</p><p class="modal-paragraph">Tech startup specialist</p></div></div></div><div class="blue-bg bluebackground quickbooks margin40topbottom"><h3 class="white cta-section">Get in touch for your company, SME or Startup</h3><div class="columns-4 w-row"><div class="column-11 w-clearfix w-col w-col-6 w-col-stack"><p class="p-cta white"> Call 074 0129 5965</p><div class="div-block-2"><img src="https://cdn.prod.website-files.com/5bf8086dc176116541ad2553/5bfbbef2c176112b29af0b2c_phone-s.png" width="23" alt="phone" class="image-6"/></div></div><div class="column-10 w-clearfix w-col w-col-6 w-col-stack"><p class="p-cta white">email <a href="mailto:cashback@f6s.com?subject=Free Quickbooks please&amp;body=Click Send and we&#x27;ll get right with you. F6S" class="link-13">cashback@f6s.com</a></p><div class="div-block-2"><img src="https://cdn.prod.website-files.com/5bf8086dc176116541ad2553/5bfbbed9512cb0a72813406b_mail.png" width="32" alt="email" class="image-6"/></div></div></div></div><div class="rdsitesection"><img src="https://cdn.prod.website-files.com/5bf8086dc176116541ad2553/5bf8141d6ffe1961d6a906d1_F6S-logo.svg" width="86" alt="F6S Logo" class="image-4"/><h3 class="heading-3">F6S helps SMEs and startups grow</h3><p class="paragraph-11">We deliver hundreds of millions in growth to companies, SMEs and startups. Over 1,200,000 companies, SMEs and startups call <a href="http://www.f6s.com/f6s" class="link-13">F6S</a> home.<br/><br/>The F6S accounting service is based on the same business friendly principles: <br/>1. Accounting service built around tech founders<br/>2. Market-beating pricing so you can focus on growth<br/>3. 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