Accountants Chester – Phillips & Co
Chester Specialists: Self-Assessment | Business Accounting | Tax
Clear, Affordable Packages & Services Available
Accountants Chester | Tax & Business Services | Phillips & Co
Stop stressing about spreadsheets and tax deadlines. Phillips & Co Accountants deliver clear, expert accounting and tax support tailored for Chester’s businesses and individuals. With over 10 years of proven local experience, we provide the personalised financial solutions, trusted guidance, and comprehensive, affordable range of accounting packages you need to thrive, not just comply.
Our Core Services include:
Tax Planning and Compliance
Self-Assessment
Limited Company Accounts
Bookkeeping
Startup Business Services
As top-rated local accountants (as shown by our client reviews!), our commitment is your financial clarity and peace of mind. Let our dedicated Chester team help you simplify your tax obligations and focus on what matters most – running your business.
Trusted Accountants Chester Businesses Choose for Success
For over 10 years, Phillips & Co has been the trusted partner for Chester businesses and individuals needing expert accounting and tax support. We understand the local Chester financial landscape, providing tailored solutions to help you achieve your goals and avoid financial stress. Get reliable, accurate, and timely service from the accountants local businesses turn to.
Why Choose Phillips & Co As Your Chester Accountants?
- Local Expertise: Solutions tailored for the Chester market.
- Maximum Tax Savings: We ensure you claim every deduction available.
- Cloud Accounting: Real-time data for better financial management (Xero Certified).
- Proven Excellence: Our 4.9 Google rating (94 reviews) shows our commitment.
- Certified Professionals: Experienced, ACCA-accredited accountants with local Chester knowledge.
Trusted by Businesses Across Chester
We’re proud to partner with a diverse range of businesses throughout Chester, helping them achieve financial clarity and success. Below are just some of the valued clients who trust Phillips & Co with their accounting needs.
Phillips & Co: Clear Accountants Chester Fees (Monthly Plans)
At Phillips & Co Accountants Chester, we get it – you want expert accounting without confusing costs. We offer clear, competitive accounting fees in Chester through straightforward monthly plans. Make budgeting a breeze with our services designed for Chester businesses and individuals.
Important Note: Phillips & Co Accountants is currently not registered for VAT. Therefore, no VAT is added to our fees – the price listed is the price you pay.
Our Monthly Accountancy Fee Plans
We offer tiered monthly packages tailored to your business structure, ensuring you only pay for what you need. All packages include setup assistance and ongoing support relating to compatible cloud accounting software (software subscription fees are separate), proactive deadline reminders, and friendly email & phone support for your accounting queries.
Click the links below for full details on what’s included in each package tier (e.g., Essential, Growth, Pro).
Sole Trader Packages
Starting from £25 per month for core compliance and support. Ideal for self-employed individuals.
Partnership Packages
Starting from £35 per month, including preparation of the partnership return and two partner tax returns.
Limited Company Packages
Starting from £60 per month for essential statutory accounts, corporation tax, and director tax return services.
Individual Services & One-Off Fees
Don’t need a monthly package? We also offer fixed prices for specific services like Self Assessment tax returns, landlord accounts, company formations, and expert business advice.
Local Accountants Chester Businesses & Startups Recommend
Phillips & Co provides comprehensive accounting support designed for growth right here in Chester. Our experienced accountants understand the specific needs of local businesses – from established firms navigating compliance to ambitious startups finding their feet. If you’re launching a new venture, we’re the accountants Chester startups trust for expert guidance.
Full-Service Accounting Support in Chester
We offer a complete suite of services tailored for the Chester market. Let our dedicated Chester accounting team help you manage finances and achieve your goals:
- Tax Planning & Compliance: Navigate regulations effectively and minimise your overall tax liabilities.
- Limited Company Accounts: Ensure fully compliant annual accounts and statutory filings for your limited company.
- Corporation Tax Returns: Accurate and timely Corporation Tax filing and advice.
- Self-Assessment Tax Returns: File accurate personal tax returns with confidence and ease.
- Bookkeeping & VAT Services: Gain financial clarity with organised records and handle VAT compliance smoothly (MTD compliant).
- Payroll Services: Reliable management of employee payroll, RTI submissions, and auto-enrolment.
- Company Secretarial (CoSec): Efficient handling of Companies House filings and director duty support.
- Business Advisory & Startup Support: Get expert guidance for growth, planning, and dedicated support for your new Chester venture.
Speak to Your Local Chester Accountants
Have questions about your business finances or tax obligations in Chester? Let Phillips & Co provide the clarity and expert guidance you need. We offer tailored accounting solutions and proactive support designed to help local businesses thrive.
Fill out the form below, and our friendly Chester team will be in touch shortly to discuss how we can help simplify your finances and achieve your goals.
Are complex accounting tasks draining your time and energy? Contact our experienced accountants in Chester. They will handle your finances, maximizing profits and minimizing tax burdens. Focus on growing your Chester business with confidence.
Chester Accountants: Tax Tips & Business Insights
Stay informed with practical tax advice and business insights from the accountants Chester businesses and individuals rely on. We share timely updates on HMRC regulations, effective tax-saving strategies, and local trends relevant to the Chester area.
What You’ll Find on Our Blog:
- HMRC Updates Explained: Understand the latest compliance changes simply.
- Actionable Tax-Saving Tips: Proactive strategies to optimise your finances.
- Chester Business & Market News: Insights relevant to the local economy.
Read the latest articles from our Chester accounting experts.
Accountants Chester: Tax Tip No. 177
MTD for Income Tax
22 April 2025
The way self-employed individuals and landlords manage and report their taxes is undergoing a significant transformation. Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA) is on the horizon, marking a major shift towards a fully digital tax system in the UK.
While the first mandatory deadline might seem a little way off – April 6th, 2026, for those with relevant income over £50,000 – the time to prepare is now. The current 2025/26 tax year (running from 6th April 2025 to 5th April 2026) is the critical window for getting your systems, software, and understanding in place. Waiting until the last minute could lead to unnecessary stress, potential errors, and even penalties.
If you’re a sole trader or receive income from property, this guide explains what MTD ITSA involves and why starting your preparation today is essential.
What Exactly is MTD for Income Tax?
In simple terms, MTD ITSA changes how you record and report your income and expenses to HMRC. Instead of summarising everything once a year on a traditional Self Assessment tax return, MTD requires:
- Digital Record Keeping: Maintaining records of your income and expenses using MTD-compatible software.
- Quarterly Updates: Sending summary updates of your income and expenses to HMRC every three months through your software…
Accountants Chester: Tax Tip No. 176
Smart Profit Extraction
17 April 2025
The new 2025/26 tax year is upon us (starting April 6th, 2025), and for business owners, it’s the perfect time to think strategically about how you take money out of your company. Efficient profit extraction isn’t just about accessing your hard-earned cash; it’s about doing so in the most tax-efficient way possible. The ‘best’ method depends heavily on your business structure, profit levels, personal circumstances, and goals. Let’s explore the common options.
1. Sole Traders & Partnerships: Drawings
If you operate as a sole trader or in a traditional partnership (not an LLP), extracting profit is straightforward. You simply take ‘drawings’ – withdrawing cash from the business bank account for personal use.
- How it’s Taxed: Drawings themselves aren’t taxed directly. Instead, you pay Income Tax and Class 2 & Class 4 National Insurance Contributions (NICs) on the total taxable profits of the business via your annual Self-Assessment tax return, regardless of how much you actually withdrew as drawings.
- Pros: Simple administration.
- Cons: Less flexibility for tax planning compared to a limited company. Your personal liability for business debts is unlimited.
Accountants Chester: Tax Tip No. 175
Tax Year End (24/25)
04 April 2025
As the 2024/25 tax year officially ends on April 5th,2025, and the new 2025/26 tax year begins on April 6th, 2025, we’re writing with some important reminders and information to help you prepare for your accounts and tax return preparation.
Action Required: Your 2024/25 Tax Year Records
Now is the perfect time to start gathering your financial information for the year ended April 5th, 2025, so we can prepare your accounts and/or tax return efficiently.
To help you identify exactly what information is needed, especially for Self-Assessment, please refer to our checklist here: https://phillipsco-accountants.co.uk/self-assessment-checklist/
Please begin collecting documents such as:
- Bank statements (business and relevant personal)
- Sales invoices and summaries of income
- Records of all business expenses (receipts, invoices)
- P60s, P11Ds, P45s (from employment/directorships, if applicable)
- Dividend vouchers received
- Details of any rental income and expenses (for landlords)
- Records of personal pension contributions made
- Any other information relevant to your income and expenses for the year.
Your Chester Accounting Questions Answered
Choosing the right accountants in Chester is crucial for your business’s success. We understand you likely have questions when selecting accountants Chester businesses can rely on. To help, here are answers to common queries we hear from our local clients, designed to help you make an informed decision.
What types of services do Phillips & Co offer as accountants in Chester?
Phillips & Co Accountants provides comprehensive accounting and tax services tailored for both businesses and individuals in Chester. Our core services include year-end accounts preparation, Self-Assessment tax returns, Corporation Tax compliance, VAT returns, efficient bookkeeping, payroll management, and expert advice specifically for Chester startups and established businesses. Our Services.
Why should I choose a local Chester accountant like Phillips & Co?
Partnering with local Chester accountants like Phillips & Co means you get personalised service from professionals who truly understand the Chester business environment and local financial landscape. We offer face-to-face availability (if needed), tailored advice relevant to the area, and are committed members of the Chester business community, dedicated to supporting local success.
What kinds of clients do your accountants in Chester typically work with?
Our experienced accountants in Chester support a diverse range of clients across the region. This includes sole traders, partnerships, limited companies, private individuals, landlords, contractors, and freelancers operating in various industries within Chester and surrounding areas. We tailor our services to meet your specific needs, regardless of size.
How does Phillips & Co structure fees for accounting services in Chester?
At Phillips & Co Accountants in Chester, we prioritise transparency. We typically offer fixed-fee packages agreed upon in advance, based on the specific services you require. This means no surprise bills. Contact our Chester office for a free, no-obligation quote tailored precisely to your business or personal accounting needs. Our Fees.
Are your accountants qualified and regulated?
Yes, absolutely. Phillips & Co are Chartered Certified Accountants, demonstrating our commitment to high professional standards. We are proud members of ACCA (Association of Chartered Certified Accountants), ensuring the advice and service our Chester clients receive is expert, ethical, and up-to-date. About Us.
How can I get started with Phillips & Co Accountants in Chester?
Getting started with our accountants in Chester is simple. You can call our Chester office directly on +441244 220 062, email us at info@phillipscoaccountants.co.uk, or complete the contact form on our website. We'll promptly arrange a free, initial consultation to discuss how we can best support your financial goals. Contact Us.
Legal Disclaimer
Need Accountants Chester? Contact Phillips & Co. for personalised accounting advice. While our website offers helpful information, always consult a professional for decisions impacting your finances. Laws and regulations change, and we cannot be liable for outdated information. External links are for reference but may not be secure. Accountants Chester | Phillips & Co | Accountancy & Tax