A long term relationship builds wealth and success

We are a specialist small business and contractor accountant. We understand the challenges you may face and could help you growth at every stage of your business's development cycle.

Discover how we can help you

What our clients think...

I have found Wisdom Accountants to be reliable, professional and knowledgeable in their field. I always feel confident in their abilities and that they always have my business’ best interests at heart. I would recommend this without hesitation.
- Managing Director, Designer of leisure surfaces
Since moving our business over to Wisdom Accountants, I have nothing but praise for their professionalism, friendly approach, efficiency, advice, and service.
- Managing Director, IT professional

About Wisdom

Wisdom was born to provide affordable and the highest quality financial and accounting services. Over 5+years in Business in Milton Keynes, we are proud to be a specialist accountancy practice serving small business locally as well as nationally. We believe our biggest achievement would be your success, that is why we work extremely hard to provide the support your need for starting, growing and running your business successfully.

Wisdom Services

We can help you out during every stage of your business's development. We make life lot easier for you by taking care of time-consuming tasks like taxes and payroll , and giving you more time to run your business and generate revenue!

Financial Director

Save money because you can’t afford a finance director? Small business may find hard to afford a full-time Financial Director (FD). However a good FD is key if you are growing your business. Read more...
He / She offers pro-active business advices, which save you considerable time and money in the short and long run and guide your business to become a healthy, desirable, and successful organization. The earlier you hire, the quicker your business will be geared towards growth and success.

You could consider take a flexible or part-time FD, and you’ll be paying for just a few days a month. This will allow your business to benefit from professional expert knowledge and support, but at very little cost compared to that of a full-time FD. You could also consider take a project based FD. If your business is experiencing rapid growth, or introducing a new accounting system or financial controls, it is wise to hire a FD. Your FD will ensure your finances are aligned with your growth strategy and improve business process and tighten controls.

Tax Investigations

Seek help when having tax investigations? You may have seen a number of articles in the press recently about the increasing risk of investigation by HMRC. You can be selected at random for an enquiry. Read more...
You may have seen a number of articles in the press recently about the increasing risk of investigation by HMRC. You can be selected at random for an enquiry. In conjunction with Professional Fee Protection (PFP), we offer an insurance policy to protect you from the taxman’s investigation in the following circumstances:

· A HMRC enquiry into a personal or business tax return
· A HMRC enquiry into any business accounts, including those of sole traders, partnerships and limited companies.
· A dispute with the HMRC where additional VAT is being pursued
· A dispute with the HMRC where additional PAYE tax or National Insurance Contributions is being pursued
· A dispute with HMRC relating to the tax status of employees or subcontractors

Representative Agent

Focus on your core business & leave others to deal with government agents? We can be your authorized agent and deal with government on your behalf. Read more...
We will keep your tax affairs up to date and within the legislation, avoiding costly penalties or lengthy investigations.

Business Advice

Seek help at your business start-up stage? We are finance professionals with in-depth knowledge and commercial insight, and can help you evaluate profit potential, manage growth successfully and minimise business tax.
Seek solutions when your business is growing more quickly than you expected? We can help you deal with business growing issues, like additional funding requirements, export opportunities, expansion and restructuring, or exit or sale strategies.

Business Loan or Overdraft

Apply for a business loan or overdraft? Getting a loan has been very difficult over the last few years. We can help improve your chances by helping you write and prepare your business plan. We can also help you choose which loan to go for, and tell you whether your bank’s terms and conditions and interest rate are favourable to you.

Buy or Sell a Business

Buy a business? We can help you value the business and assess the risks involved in buying it. This will give you peace of mind that you're getting everything you're paying for.
Sell your business? We can help you with a valuation of your business and allow you get the most money from selling your business.

Contact Wisdomif we can be of service in

- Year End Accounts
- Management Accounts
- Bookkeeping
- Tax Returns
- Corporation Tax

- VAT Returns
- Payroll
- Cashflow Forecasts
- Tax Savings Strategies
- Automatic Enrolment

- Tax Investigations and Insurance Cover
- Business Plan
- Finance Director Services
- Accounting Software
- Workplace Pensions

Why Wisdom

We are your trusted financial partner you can depend on. We offer expert advice to help you start, run and grow your business.

Giving you personal attention.

No red tape.

Fixed accountancy fees & flexibility in payment, i.e direct debit facility.

Save you money to ensure you only pay as much tax as you have to.

Responding quickly.

Free, unlimited help & advice.

No business jargon, just plain advice & straightforward to understand.

Who Wisdom help

We provide specialist accounting and finance services for small businesses, and a whole lot more.

We will make your number meaningful by putting them into your business context and letting you know how your business is performing. We will use our skills with numbers to spot if there’s a problem in the business that needs to be fixed and assist you to make key financial decisions. You will benefit from our professional knowledge, skills, and especially mindsets. Discover ten ways we can help you, Read more...

Traditional accounting services

1. Advising on record-keeping systems, including manual and computerised records;
2. Helping you to administer VAT and Customers & Excise duties;
3. Reconciling your bank statements;
4. Producing statutory accounts for the Tax Office and the Companies House;
5. Managing and administering your payroll system, calculating Pay as You Earn tax, and generating payslips for you and your staff.

Added value services

6. Explaining your financial statements so you can understand the ins and outs of your business;
7. Advising on budgeting, invoicing and credit control so you can manage your cashflow better;
8. Helping you make decision on your business growth strategies by providing insight on performance measurements, ratio comparisons, pricing structures and cash flow patterns;
9. Producing financial forecasts so you can make better decisions in your business;
10. Providing advice and resources on your business exit strategies.

Choosing our services



Limited Company

Sole Trader



New small businesses are considered to be especially vulnerable in the infancy period following start up. You need a business accountant throughout the journey of your business lifecycle. With our extensive experience in working with new businesses, Wisdom Accountants can assure that our advice will be tailored to meet your specific business goal and objectives. Read more...

Business Regulations

When starting a business, you need to be aware of the many regulations that you must comply with. To ensure you are operating within the law, there are a number of procedures you must follow when setting up a business.
· Trading name of the business
· National insurance
· Income tax
· Company directors
· Business employ staff
· Value added tax (VAT)
· Corporation tax
· Annual accounts
· Business rate

Value Added Tax (VAT)

You should notify HM Revenue & Customs if your taxable supplies are above the VAT registration threshold. If your turnover is below this threshold you can choose to register the business voluntarily. There are advantages to this, particularly if you are selling mainly to VAT-registered businesses, pleasecontact usfor more details...
Businesses are required to keep a record of their VAT transactions. The records must be retained for a minimum of six years. You also need to obtain and keep VAT invoices, as these are your authority to claim back VAT on supplies made to you.


As a contractor, you need to be aware of the many regulations that you must comply with. As an accountant for contractor, Wisdom Accountants can deliver a more tailored service and efficiently manage your tax affairs. Read more...

Specialized Services for contractors including

1. Annual accounts
2. Tax returns
3. Payroll
4. Self assessment
5. P11D
6. VAT returns
7. References at request

In addition, we also

8. Help you what’s best for you: Sole trader, umbrella or limited company
9. Explain to you about IR35 rules
10. Advise you how to avoid IR35
11. Explain to you about vat registration and help you decide Flat Rate or Standard VAT
12. Provide you with business mileage spreadsheet for the self-employed
13. Advise you on Business expenses: what to claim, and what to avoid

Limited Company

The limited company is a separate legal entity from its owners and all the company’s liabilities are the responsibility of the company, not that of the directors and shareholders. Choosing to set up and operate your business as a private limited company is a popular way of trading. Read more...

Requirements of Limited Companies

· Company must be registered at Companies House;
· Annual accounts must be filed at Companies House;
· Annual Return must be completed each year to update Companies House with basic details relating to the company. Also requires a small annual fee;
· HMRC must be informed if the Company has any profits or taxable income in a Company year;
· Company must complete an annual HMRC corporation tax return and pay the due taxes within nine months of the company year end each year.

Tax Matters of Limited Companies

When starting a business, you need to be aware of the many regulations that you must comply with. To ensure you are operating within the law, there are a number of procedures you must follow when setting up a business.
· Corporation tax
Companies are required to carry out self-assessment for corporation tax, calculating themselves the amount of tax payable. This could be completed by filling out a company tax return form CT600 accompanied by accounts and computations. Corporation tax must be paid within nine months and one day from the end of the financial year.
· Dividends
In many small companies, the owners are also the directors, who may be paid dividends as well as salary. Dividends are payments made out of accumulated company profits after payment of corporation tax. A dividend carries with it a 10% to be paid. A higher rate taxpayer will have to pay further, pleasecontact usfor more details...
If you make taxable supplies above the VAT registration threshold you become a taxable person and are legally required to register for VAT. Businesses are required to complete and submit to HMRC a VAT return. This must be submitted within a month of the end of the VAT accounting period.

Sole Trader

A sole trader is the simplest way to run a business. The legal and accounting requirements are not as costly or time-consuming as those of business registered as a limited company. However, you are personally liable and accountable for all your businesses debts. Read more...

Requirements of Sole Trader

· You need to register as self-employed with HM Revenue & Customs by the end of the third month of self-employment;
· You have to make an annual self assessment tax return to HM Revenue & Customs;
· You must also keep records showing your business income and expenses;
· You should have a separate business bank account. This will make it easier for you to do your tax return, and keep track of how much money your business actually has.

Tax Matters of Sole Trader

· Income tax
Unlike being an employee, you won’t be taxed on your income. Instead you will be allowed to deduct business expenses and be taxed on the profit you have made. As a self-employed person, you must complete a self assessment tax return every year. The deadline for returning your self-assessment tax return is 31 October for paper forms and 31 January for online forms. Through the self-assessment tax return scheme, income tax is paid in two instalments during the year (on 31 January and 31 July).
· NI contributions
Most self-employed people pay Class 2 and Class 4 NI contributions. Class 2 NI contributions are flat-rate payments made on a weekly basis. This ensures you are still able to access the National Health Service and puts a small contribution into your state pension pot if you pay no other NI. If the earnings from the business are very low, you may be entitled to make an application for a Small Earnings Exemption from NICs. Pleasecontact usfor more details...

Transfer Sole Trader to Limited Company

Once your turnover reaches a certain point, you may benefit by incorporating as a limited company as you can then pay yourself through a mixture of salary (subject to Class 1 NI contributions, which are higher than for a self-employed person) and dividends (not subject to NI contributions). Furthermore, profits will be taxed through corporation tax, rather than income tax; for sole traders all profit is taxed through income tax. This means that businesses retaining earnings in the business, for example to provide additional working capital, are likely to pay less tax in total if they are incorporated. Pleasecontact usto consult how this could benefit to you.


A partnership is a good legal status to consider if your business will involve two or more people owning it together. In a partnership, two or more people share the risks, costs and responsibilities of being in business. Read more...
Like a sole trader, a partnership has no separate legal identity. Each partner is personally responsible for any debts that the business runs up.

Requirements of Partnership

· Each partner needs to register as self-employed;
· The partnership itself and each individual partner must make annual self-assessment returns to HM Revenue & Customs
· The partnership must keep records showing business income and expenses;
Class 2 NI contributions are flat-rate payments made on a weekly basis. This ensures you are still able to access the National Health Service and puts a small contribution into your state pension pot if you pay no other NI. If the earnings from the business are very low, you may be entitled to make an application for a Small Earnings Exemption from NICs.

Privacy Notice

Our Practice - contactable via 4 Kercroft, Milton Keynes, MK88AR or 074 3208 9989 or help@wisdom.accountants – process your personal data as per our the purposes set out and retention periods specified in the contract with you, which also relies on certain service providers contracting with us (‘we’, ‘us’ or ‘our’). If you do not provide the required personal financial data to us, we may be unable to fulfil the terms of the contract, for example, in submitting your accounts to the authorities, which includes analysing your personal information to assess your tax obligations. When your personal information is transferred outside the European Area, we shall seek your explicit consent. You have the right to access, rectify, erase and port your personal data, as well as restrict processing or object to processing. You also have the right to lodge a complaint with the Information Commissioner.

Contact Wisdom

The team in  Milton Keynes is on hand to talk, so why not drop us a line or give us a call? Alternatively, if London is easier for you, we can arrange to meet you there.

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