Welcome to Phillips & Co Accountants Chester
Accountants in Chester with 67 5-star Google reviews. Call or WhatsApp today on 01244 220 062.
Accountants Chester
Phillips & Co Accountants Chester are a leading firm of accountants based in Chester, Cheshire. Established in 2012, we have helped thousands of small businesses and individuals in Chester and beyond with their accounting, business and tax requirements. Phillips & Co Accountants Chester will use over 60 years of experience to help streamline your accounts process and minimise your tax obligations.
We have a mission to provide stress-free accounting and tax services to small businesses, individuals and landlords. We are a modern firm of Chester Accountants with traditional values, set up with a focus on bringing value-added services to our clients & helping them make critical decisions and grow their business.
As a proactive and modern firm of Accountants in Chester, Phillips & Co Accountants Chester offer a 100% online service for those who struggle to find the time or opportunity to attend face-to-face meetings.
Contact Phillips & Co Accountants Chester on 01244 220 062 to find out how we can bring you financial peace of mind.
Alternatively, please visit our Quote page to request a no-obligation, online quote (please note that you will not be required to provide a telephone number to receive a quote).
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Member of the Association of Chartered Certified Accountants
Phillips & Co Accountants Chester offer a comprehensive range of financial, business, payroll and tax support services. Our aim is to provide a professional, personal and efficient solution to all your accounting and tax concerns.
Call or WhatsApp Phillips & Co Accountants Chester on 01244 220 062 to enquire about our services.
Expertise and Experience
Phillips & Co Accountants Chester use expertise to complete our work to the highest standard, and experience to explore opportunities and identify potential problems before they arise.
Phillips & Co Accountants Chester also use the latest software to provide a cost-effective, real-time service.
Accounts
Accounts preparation is a core part of our service to ensure you are able to fulfill all the reporting responsibilities your business must meet in respect of its obligations to stakeholders and regulatory bodies, such as HMRC and Companies House. We prepare non-statutory accounts for sole traders and statutory accounts for limited companies.
Tax
We will prepare and submit your Company’s Corporation Tax Return to HMRC and advise you on any tax liability which is due within nine months of the year end. If you are a sole trader, knowing how much tax you have to pay, and when you have to pay it, is vital. We have years of experience looking after the tax affairs of unincorporated business owners.
Business
Our business services include: planning, budgeting and raising finance through: expansion, restructuring, mergers and management buy-outs. We help start-up businesses save time, money and stress. Our services include: Company formation, devising business plans and producing management accounts.
Payroll
Whether you employ only a handful of people or a large workforce, dealing with payroll tasks and ensuring compliance with legislation, is yet another burden to distract you from running your business. Our payroll service will ensure that payment is made in accordance with the appropriate legislation, allowing you to focus on other matters.
Our aim is simple…provide the best service we can for our clients. Phillips & Co Accountants Chester complete all work to the highest standard and communicate findings in a clear and concise manner. We value feedback as an opportunity to continue to develop our services and team.
Call or WhatsApp Phillips & Co Accountants Chester on 01244 220 062 to enquire about our services.
Thousands of Happy Clients in Chester and Beyond
Over the past 10 years, Phillips & Co Accountants Chester have helped thousands of businesses and individuals in Chester and beyond with their accounting, business and tax requirements.
5.0 out of 5.0 Google Rating (67 reviews)
4.7 out of 5.0 Trustpilot Rating (33 reviews)
To read some of the kind words written about Phillips & Co Accountants Chester, please follow the links below:
Our experience with Terry and his team has been one of the best we’ve ever had. They were able to understand what we needed and have made what we thought would be a difficult process very simple. We would highly recommend Phillips & Co Accountants Chester.
I can’t recommend Terry and the rest of the team at Phillips & Co Accountants Chester enough for everything they have done for me and my business. If you choose them as your accountants, you will be in very good hands and they won’t let you down.
Such a friendly business! Really helpful from the 1st phone call. Phillips & Co Accountants Chester have helped me with all aspects of my business and go the extra mile to make sure I’m on track. The team really made me feel relaxed and at ease with it all.
Please complete and submit this form to make an enquiry about our individual, landlord and small business services.
Phillips & Co Accountants Chester will not divulge your contact details to any other 3rd party. For more information please read our Privacy Policy.
If you already have an accountant, the changeover is simple and Phillips & Co Accountants Chester will take care of it all for you.
Accountants Chester – Where Are We?
Phillips & Co Accountants Chester are based in the historic city of Chester, west of the city centre. We are located off the A548 Sealand Road which links Chester with Deeside and leads on to the Greyhound Retail Park and Chester Racecourse.
For more information, call or WhatsApp Phillips & Co Accountants Chester on 01244 220 062.
Please use the following address for your Sat Nav when travelling to our office:
Obsidian Offices, Chantry Court, Chester, CH1 4QN
Phillips & Co Accountants Chester
Obsidian Offices, Chantry Court
Chester, CH1 4QN
01244 220 062
Latest Tax News
The latest UK tax news from Phillips & Co Accountants Chester
Working Family Boost – 20/06/22
HMRC is urging working families in the UK to not miss out on a £500 tax-free boost to help cover childcare costs over the summer holidays. More than 500,000 families used the Tax-Free Childcare scheme last year but it is believed that up to 1.3m families may be eligible.
Working parents with young or school-aged children could receive as much as £1,000 (if a child is disabled) every three months to help with childcare costs. This boost could be especially important with the school summer holidays approaching fast and the increasing costs of living. The extra funds can be used to help pay for holiday clubs, before and after school clubs, childminders and nurseries over the summer months.
Families that deposit £8 into a Tax-Free Childcare online account will receive an additional £2 in UK Government top-up. The scheme is available for children aged up to 11, or 17 if that child has a disability.
With an estimated 1.3 million families potentially eligible for this support, it is vital that parents and carers check their eligibility for the scheme. Last year (2021/22 tax year) a total of 512,415 families made use of tax-free childcare in the UK. This is compared to 374,135 in the 2020/21tax year.
Helen Whately, HM Treasury’s Exchequer Secretary to the Treasury, said: “It’s fantastic that more parents are taking up Tax-Free Childcare. This support provides a helping hand with childcare costs for working families.
“With over one million families eligible, I want to encourage parents to take advantage of Tax-Free Childcare and keep the extra pounds in their pocket.”
Myrtle Lloyd, HMRC’s Director General for Customer Services added: “Tax-Free Childcare can make a big difference to families, helping with the bills for things like nurseries, childminders and after school clubs.”
Phillips & Co Accountants Chester
MTD for VAT Penalties – 16/06/22
Making Tax Digital (MTD) was introduced as a means of helping customers correctly calculate the tax that they owe. VAT registered businesses, under MTD, are obligated to maintain certain records digitally and file VAT returns using compatible software.
Businesses that do not comply with these rules can be charged penalties.
To avoid being charged a penalty they must:
file VAT returns using functional compatible software
Functional compatible software is defined as a software program, or set of software programs, products or applications that can:
- record and store digital records
- provide HM Revenue and Customs (HMRC) with information and VAT returns from the data held in those digital records
- receive information from HMRC
If a business files their VAT returns, but does not use functional compatible software, they may be charged with a penalty of
up to £400 for every return they file.
maintain records digitally
Businesses must maintain some records digitally within their functional compatible software. This is known as an ‘electronic account’.
If businesses do not keep these records digitally, they may be charged a penalty of between £5 to £15 for every day on which they do not meet this requirement.
use digital links to transfer or exchange data
Businesses must digitally link each piece of software you use. A digital link is where data is transferred or exchanged electronically between software programs, apps or products. You must not transfer or exchange data manually.
If a business does not use digital links to transfer data between pieces of software, they may be charged with a penalty of between £5 to £15 for every day on which they do not meet this requirement.
use the checking functions within your software
Businesses must use the checking functions within their software to make sure that returns are correct before being filed.
If a business files a return that contains errors, it will have to pay back any VAT owed. They may also be charged with a penalty of up to 100% of the VAT owed.
sign up to MTD
Phillips & Co Accountants Chester
Child Benefit – 13/06/22
You may be required to pay a tax charge known as the ‘High Income Child Benefit Charge’, if you have an individual income over £50,000 and meet one of the following criteria:
- you or your partner receive Child Benefit
- someone else receives Child Benefit for a child living with you and that person contributes at least an equal amount towards the child’s upkeep.
The child living with you does not need to be your own child.
What counts as income?
For the purposes of the tax charge, to work out if your income is over the threshold, you will need to work out your ‘adjusted net income’. This is your total taxable income before personal allowances and less the likes of Gift Aid.
Who pays the tax charge?
If both your income and your partner’s income is over £50,000, then the individual with the higher income is responsible for paying the tax charge.
‘Partner’ is defined as someone who you are not permanently separated from and to whom you are married to, in a civil partnership with or living with as if you were.
If your income is over the threshold
you can choose to either:
- receive Child Benefit payments, and pay any tax charge owed at the end of each tax year
- not receive Child Benefit payments, and not pay the tax charge
If you choose to not receive Child Benefit you can still complete the Child Benefit claim form. You will need to state on the form that you do not wish to receive payments.
You will need to complete the claim form if you wish to:
- receive National Insurance credits which count towards your State Pension,
- ensure your child gets a National Insurance number automatically before they are 16. They will otherwise need to apply for it themselves
If you are already in receipt of Child Benefit
you have the choice of either:
- ‘Opting out’ and stop receiving the benefit, or
- Continue to receive the benefit and pay any tax due at the end of each tax year.
Phillips & Co Accountants Chester
The information on this website is intended for guidance only. It is based upon our understanding of current legislation and is correct at the time of publishing. No liability is accepted by TPP Accountants Ltd T/A Phillips & Co Accountants Chester for actions taken in reliance upon the information given. Furthermore, this website contains links to external sources of information which we believe you will find useful. However, we are not responsible for the content or integrity of any external websites and, as such, accept no liability for any viruses or malware connected to those sites and any resultant damage caused. Phillips & Co Accountants Chester.