Accounting Wise

Accounting Wise: online accounting for UK businesses and individuals

Accounting Wise is an accounting firm providing online services to clients across the UK. Its team of qualified accountants serves individuals, sole traders, limited companies, small businesses, freelancers, contractors, partnerships, landlords, and startups. The firm states that its online accountants currently help more than 2,000 individuals and businesses in the country.

Accounting and tax services

The service catalogue includes Self Assessment tax returns, Corporation Tax returns, VAT returns, payroll (PAYE), bookkeeping, CIS returns, accounts preparation, and Making Tax Digital (MTD) quarterly updates. It also offers advice on the SEIS scheme and EIS tax relief, R&D tax credits, and cryptocurrency accounting.

Corporate and company formation services

The firm supports the creation and management of limited companies: free company formation, Companies House ID verification, confirmation statement filing, full company secretarial services, dormant company accounts, and company dissolution. It also handles changes to registered office address and directors' service address, issue and transfer of shares, VAT registration, Corporation Tax registration, and PAYE registration, as well as director appointment and resignation. It also offers small business insurance.

Packages and pricing

Accounting Wise structures its services into monthly packages tailored to each legal form, plus a one-off payment option. The site indicated promotional launch prices: limited companies from £40 per month, reduced to £20; sole traders and individuals from £10, reduced to £5; partnerships from £20, reduced to £10; and contractors and freelancers from £20, reduced to £10. For limited liability partnerships (LLPs), prices started at £40 per month. The firm advertised 50% off for the first six months when signing up to one of its pre-built or bespoke packages.

Tools and software

Clients receive cloud accounting software that allows them to issue quotes and invoices, send payment reminders, monitor outstanding balances, and manage expenses in real time from anywhere. The software facilitates MTD VAT and CIS returns. The firm also offers a Balance App and a payroll calculator, among other tools.

Client resources

The site brings together guides and resources on topics such as the new landlord checklist, the Making Tax Digital guide, tax rates and allowances, and various calculators: take-home pay, working from home allowance, company car and fuel benefit-in-kind, CIS tax deduction, gross profit, fuel costs, loans, APR, and mileage expenses. It also publishes articles on stress management for freelancers.

Client profile

The firm segments its offering by client type: limited companies, partnerships, sole traders, contractors, freelancers, landlords, limited liability partnerships, self-employed workers, Shopify and Etsy sellers, small businesses, startups, Amazon sellers, e-commerce businesses, electricians, plumbers, dentists, restaurants and hospitality, and IT contractors.

How we work

Accounting Wise presents itself as a firm that combines traditional accounting with modern methods. It serves clients by phone, online, or in person, according to the client's preference, and assigns each one a dedicated online accountant. The firm states that its professionals hold qualifications from the Association of Accounting Technicians (AAT), the Association of Chartered Certified Accountants (ACCA), and the Institute of Chartered Accountants in England and Wales.