our services

accounting, bookkeeping and VAT

The accounting world has changed over recent years with a need for more timely, efficient and interactive information and cloud accounting has revolutionised the way in which accountants and tax advisors can provide just that.

At gbac we are proud to have embraced a change which has resulted in us becoming Gold Partners with Xero, the leading cloud accounting software, to help us provide solutions for manual data entry which has historically been a time consuming task for many businesses.

How can we help

We offer an holistic range of accounting and bookkeeping services to help you run and grow your business. Our pro-active approach to your numbers combined with our specialist knowledge will ensure that your business gets the right support and advice it needs throughout the year and cloud accounting software helps us to do just that.

Bookkeeping and VAT returns

Using the latest in cloud based technology the industry has to offer, our team can provide an in-house bookkeeping service as an extension of your team to ensure that your records are consistently up to date and VAT returns are completed and submitted timely and accurately. A cloud based software also ensures that you have access to your financial records at any given time, keeping you up to speed with your impending liabilities and helps us, and you, manage your cashflow.

Advisory

Getting to grips with the issues that your business faces is at the heart of what we do. We can offer advice on more than just the financials. Our clients use us as a sounding board for a wide variety of issues and to help make strategic decisions. We are not just here to help you fulfil your companies reporting requirements, we are here to provide you with the support that is needed to run a successful business in the long term.

gbac Resourcing

Did you know that we can also offer you a virtual finance department to assist with your business goals in the short and long term?

A well-run finance department plays a pivotal role in the profitability of any business and can add significant value upon the sale of a business. Our gbac virtual finance team can provide invaluable support to your existing finance team or provide a completely outsourced solution for your business which ensures the maintenance of a lean operation with unlimited in-built capacity for growth.

Due to advancements in current technologies, this role does not typically need to be carried out on your business premises. We have the ability to work completely remotely with access to accounting systems and documents from just about anywhere in the world. So we can assist you from any place, at any time!

gbac prepares year end accounts for a wide range of companies and charities, ranging from SME’s all the way to large companies and PLC’s. The accounts team are vastly experienced in preparing both year end accounts and consolidating the accounts of a group. We also provide bookkeeping and VAT services for companies and charities as well as carrying out FC and NED roles for various entities. Whatever your business needs are, our team have you covered.
Brett Skelly Associate

GBAC has been an invaluable partner for our business. Their exemplary team of specialists consistently provide top-notch service and their individualised approach to clients sets them apart. We’ve seen significant improvements in our financial management since working with them. GBAC’s expertise in accountancy audits, tax support, and payroll services has been instrumental in our post COVID stability and success. We highly recommend their services.
Carrie Sudbury Chief Executive, Barnsley and Rotherham Chamber of Commerce

UK general election: 4th July 2024

In a bold move that took everyone by surprise, including members of his own party, Prime Minister Rishi Sunak announced on 22nd May that the next UK general election will take place in several weeks – on 4th July 2024.

Earlier in the year, Sunak said that he was working with the assumption that the election would be held ‘in the second half of the year’. While most people expected a winter election, the July date technically meets that description.

So, what happens next, and what does this mean for UK tax policies?

Spring Budget 2024 Simplified: What It Means for You & Your Business

As a trusted companion in Barnsley’s financial landscape since the 1970s, we’re all about breaking down complex finance talk into something you can understand and use.

With the Spring Budget 2024 announced by Chancellor Jeremy Hunt on 6th March, there’s a lot to unpack.

This budget is particularly noteworthy as it’s likely the last one before the next election. As you would expect from a pre-election budget, it focused heavily on the tax relief measures, including additional cuts to National Insurance Contributions (NICs) and a new savings bond.

Limited by financial constraints, the Chancellor couldn’t offer as many tax breaks as some backbench Conservatives would have liked.

Despite this, he achieved a few key political goals, including adopting a Labour policy to end the non-domicile tax rule that allowed some UK residents pay less tax on foreign income.

In this post, we’ll give you a clear understanding of what’s new and how it might affect your family or business, ensuring you’re well-equipped to navigate the changes.

Making Tax Digital review for small businesses

Under the government’s original plans, anyone required to submit Income Tax Self-Assessment returns to HMRC would have been obligated to sign up for the Making Tax Digital (MTD) service by April 2024 – but the implementation of MTD for ITSA has since been delayed until April 2026.

Switching to the online tax service will initially be mandatory for landlords and self-employed earners with income over £50,000 a year, while those with annual income below this but above £30,000 will be required to join from April 2027.

Before setting a deadline for extending MTD to smaller businesses earning less than £30,000 a year, the government conducted a review to consider how this might affect the needs of small businesses.

The outcome of the MTD small business review is the announcement that there are no plans to extend MTD for ITSA to landlords and the self-employed earning below £30,000 a year for the foreseeable future – though this may be reviewed again.

Here’s a short guide explaining what self-employed workers and landlords should know about current changes to MTD for ITSA.