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Get Your Salon Finances In Order With Our Accountants for Hairdressers

A hair salon, barbershop, and beauty stylist parlours are often the focal point of a shopping district or neighbourhood and are vital to daily life and the economy.

If you own a hair salon business, a beauty salon, or sell grooming products, you know how important it is to regularly evaluate your company strategy and where you want to take it.

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You shouldn’t worry about your financial records or tax obligations while building your business and offering successful products and services.

You may make or break it in the hairstyling industry, so finding an accountant with a solid grasp of the industry is crucial. 60% of small business owners feel they aren’t knowledgeable about taxes and accountancy; hence, they hire accountants. 

With Pearl Lemon Accountants, you’ll get a team that has been in the business for a long time, knows its stuff, and has a profound grasp of the hair industry.

If you want to know what’s working and what’s not at your hair salon, we can analyse your company’s performance according to industry standards and your rivals.

Want to know more about how we can help? Just give us a call.

How to Work With An Accountant

In terms of salon bookkeeping, there are many things you need to know.

The cost of hiring an accountant should be justified. In such a case, maximise their usefulness to you.

Whenever someone says, “my accountant doesn’t do anything for us aside from a tax return,” it’s usually because the accountant hasn’t been requested to do anything but prepare tax returns.

Maintain your insistence on receiving up-to-date and valuable information for running your company in a manner you can comprehend. And if you reach a dead-end, it’s time to look for a new team member.

Keep in mind that your salon’s accountant is on your side. Finding one is best done through word of mouth. That way, you may rest assured that their service has been tried and approved.

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Confident young business woman working with laptop sitting in the office.

Compare prices.

Having a pool of potential candidates from whom to select is excellent. It’s essential to take your time and pick someone who will understand your business plans and who you’ll get along with for the long haul.

Also, learn about their processes, work ethics, accounting software, and anything that may be relevant for you to judge better.

Although with Pearl Lemon Accountants, as a salon owner, you don’t need to do that anymore since we will provide all you need immediately. Plus, we take the initiative to show you other relevant salon accounting issues that may need further attention, so you don’t have to.

Market Your Salon

Market competition is fierce for accountants, who also understand the value of advertising their services to potential clients. For the most part, a hairstylist’s clientele expands thanks to word-of-mouth and recommendations. While these components are necessary for success, you must move your marketing efforts online to compete in today’s digital and social era. 

In conclusion, we do much more than prepare tax returns. To build your business and increase your profits, we provide realistic and affordable advice and may provide you with a significant advantage in your field.

Our marketing knowledge sets us apart from other accounting businesses.

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Our Award-Winning Services

Look at the list below to see what kinds of accounting services our experts can offer you.

HMRC Tax Investigations Services

Tax audits and inspections can be confusing and unpleasant, so as soon as a tax investigation starts, get help from a professional.

We can help if you have trouble meeting your HM Revenue & Customs obligations or need help dealing with HMRC issues. Even better, we can ensure that the HM Revenue & Customs will never start a tax investigation on you.

Personal Tax Services

We offer valuable tax advice for all kinds of tax issues to help you with your income tax issues.

The personal and professional lives of a business owner are often intertwined. We work with you and your close family to find tax solutions that fit your short-term and long-term goals.

Our tax experts will help you manage your money, protect your family’s wealth, and avoid having to pay taxes that aren’t necessary.

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Flat lay of business plan and accountancy concept. Top view

R&D Tax Relief Services

The Research and Development (R&D) tax deduction in the UK is one of the best and most financially sound business strategies. A company’s annual tax can be significantly reduced or paid back if it tries to get government-backed financial help.

Unfortunately, many eligible businesses don’t submit a claim, either because they don’t know about the help or because it seems too hard or impossible for their business.

Pearl Lemon Accountants can help you file for that.

Tax Planning Services

Tax laws for businesses are complicated and change over time. Tax planning is vital if you want to lower your company’s tax bill.

You can feel confident that you are in good hands because our tax accountants are highly skilled, business-minded, and good at lowering tax liabilities.

Pearl Lemon Accountants offers a complete business tax conformance service to ensure that your business is set up in the most tax-efficient way possible, that your corporate tax obligations are kept to a minimum, and that your tax returns are filed on time.

VAT Accounting Services

Value-added tax is one of the most confusing and annoying parts of accounting for a business. The business owners have been the ones to estimate and pay VAT, not those who buy from them.

Choosing a VAT framework to sign up for, evaluating VAT, and making changes to VAT accounts are all separate tasks.

Because of this, hiring an experienced VAT bookkeeper from us may relieve a lot of the stress that comes with this complicated tax system.

Small Business Services

At different points in the growth of your business, there are many good reasons to hire an accountant. A professional can help you with everything from company formation and making a business plan to applying for credit and running audits.

If you hire an expert accountant to handle time-consuming tasks like taxes for your new business, you will spend less time than if you did it yourself. You’ll be able to focus better and feel more secure if you know that an expert is taking care of your money.

If you want to see what else we have to offer, you may check out this link

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Get On Top of Your Finances

Bookkeeping, tax planning, and accounts management can be overwhelming.

We know.

This is because accountancy is a whole other profession on its own. 

If you’re having a hard time handling your finances, we can be of assistance to you. 

We’ll help you optimise your taxes and keep your records accurate while you ensure that your business does well. 

You can get on top of your finances if you give us a call

FAQs

Shampoo, mousse, dyes, and colours are all eligible for reimbursement. Towels, robes, brushes, chair rentals, and the time and gas spent travelling to clients’ homes for business purposes may also be eligible so long as they are proven to be business expenses.

Even though freelancers aren’t required by law to keep financial records like businesses are, not doing so can be costly financially and in terms of taxes.

Maybe your bank and credit card statements are wrong, but you won’t find out until it’s too late to fix them. If you don’t pay a bill on time, it could hurt your credit score.

You might not know where to start when saving and investing money. You might also forget to consider costs that give you tax benefits. 

A salon generally has cash assets, probable accounts receivables, and prepaid purchases. However, its primary assets are called hard assets. They include items such:

  • Pedicure stations
  • Inventory on hand
  • Chairs
  • Real estate value
  • Furniture
  • Equipment
  • And any transferable licenses.

A hard asset’s value is easier to estimate from a financial perspective.

When you allow us to keep track of your finances, you give yourself more time to do your work and please more clients. It's a win-win situation for everyone. Aside from that, you'll also gain financial stability because your assets and liabilities are managed well enough not to cause any trouble for you in the future.

So let our experts work for you, and you won't regret it even a bit.

Book a call today to get started.