Accounting Services for Shops
Running a shop or retail business involves managing inventory, tracking sales, complying with tax regulations, and maintaining profitability—all while delivering great customer service. At Jermyn & Co, we provide tailored accounting services designed for shops and retailers, helping you streamline financial processes, optimise tax savings, and focus on growing your business.
Whether you operate a local store, a high-street shop, or a franchise, our expert team ensures your finances are professionally managed and future-ready.
Why Jermyn & Co?
Why Choose Jermyn & Co for Retail Accounting?
At Jermyn & Co, we understand the financial challenges faced by retail businesses, including fluctuating sales, seasonal demand, and managing inventory costs. Our services help you:
- Stay Compliant – Navigate VAT, payroll, and tax regulations with confidence.
- Optimise Tax Efficiency – Claim allowable deductions to reduce your tax liabilities.
- Streamline Financial Management – Simplify bookkeeping, inventory tracking, and sales reporting.
- Plan for Growth – Develop strategies to expand your shop or invest in new opportunities.
With our support, you can focus on serving your customers while we handle your financial needs.
Accurate Records
Tax Savings
Time Savings
Scalability
Jermyn & Co
Core Accounting Services for Shops and Retailers
We provide a comprehensive range of accounting services tailored to meet the needs of shop owners and retail businesses:
1. Bookkeeping and Sales Tracking
Accurate bookkeeping is vital for tracking your shop’s financial health. We assist with:
- Recording income from sales, promotions, and loyalty programs.
- Organising and tracking expenses, including rent, utilities, and supplier payments.
- Maintaining clear financial records to support tax filings and business planning.
2. VAT Registration and Compliance
Retail businesses often deal with complex VAT rules. We provide:
- VAT registration and advice on the most suitable scheme, such as the Flat Rate Scheme.
- Preparing and submitting VAT returns in compliance with Making Tax Digital (MTD).
- Guidance on VAT for discounts, sales promotions, and returns.
3. Inventory and Cost Management
Managing inventory effectively is essential for retail success. We assist with:
- Monitoring inventory costs to minimise overstocking or shortages.
- Analysing profitability by product category to maximise margins.
- Budgeting for seasonal fluctuations in stock demand.
4. Payroll and Staff Management
If you employ sales staff, cashiers, or managers, we simplify payroll by:
- Calculating wages, National Insurance contributions, and pensions.
- Ensuring compliance with employment laws, including holiday pay and minimum wage requirements.
- Structuring staff bonuses and incentives for improved performance.
5. Tax Planning and Compliance
Retail businesses can benefit from strategic tax planning. We provide:
- Preparation and filing of self-assessment or corporate tax returns.
- Advice on deductible expenses, including advertising, utilities, and business insurance.
- Strategic planning to reduce liabilities and improve cash flow.
6. Financial Reporting and Performance Analysis
Understanding your shop’s financial performance is key to success. We provide:
- Monthly and quarterly financial reports to track revenue, costs, and profit margins.
- Analysis of high-performing products and peak trading periods.
- Recommendations for cost-saving measures and efficiency improvements.
7. Strategic Planning for Expansion
Looking to open a new location, upgrade your shop, or invest in e-commerce? We offer:
- Long-term planning to align your business with market trends and customer preferences.
- Cash flow forecasting to support investment decisions.
- Guidance on financing options for renovations, expansions, or inventory growth.
Jermyn & Co
What our clients say about their experience with us
Jermyn & Co
Frequently Asked Questions about Tax for Retail Stores
You can claim expenses such as rent, utilities, inventory, advertising, employee wages, and business insurance. We ensure all eligible deductions are included.
If your annual turnover exceeds £85,000, VAT registration is mandatory. We’ll guide you through VAT compliance and help with returns, ensuring accuracy.
Yes, we provide insights into inventory costs, profitability by product, and budgeting for seasonal demand to help you optimise stock levels.
Our strategic planning services include financial modelling, cash flow forecasting, and advice on financing options to support expansion or new ventures.
Our Accountancy Services
We offer a range of services to help you manage your finances and grow your business.
Why Jermyn & Co?
Why Choose Jermyn & Co for Your Accounts?
At Jermyn & Co, we’re more than just accountants – we’re your partners in success. Our accountancy services are designed to help you:
- Stay Compliant – Ensure your financial records meet HMRC and Companies House requirements.
- Save Time – Let us handle the numbers while you focus on growing your business.
- Improve Efficiency – Streamline processes and reduce errors with expert support.
- Plan for Growth – Use actionable insights to guide your financial decisions and achieve your goals.
With our proactive approach, you’ll gain the confidence and clarity you need to succeed.
Why Jermyn & Co?
Why Choose Jermyn & Co for Business Tax?
Tax legislation in the UK can be complex and ever-changing, but with Jermyn & Co by your side, you’ll have access to expert advice and practical solutions.
Our services include:
- Strategic Tax Planning – Helping your business plan effectively to reduce your overall tax liabilities.
- Corporation Tax Filing – Ensuring accurate and timely submissions to HMRC.
- VAT Compliance – Assisting with VAT registrations, returns, and managing thresholds.
- R&D Tax Credits – Maximising available credits for your innovation and development projects.
- Self-Assessment Support – Tailored assistance for self-employed individuals or partnerships.
With our expertise, you can focus on running your business while we handle the numbers. We’re committed to helping you stay ahead of deadlines and legislation changes.
Corporation Tax Compliance
VAT Services
R&D Tax Credits
Tax Planning and Advisory
Why Jermyn & Co?
Why Choose Jermyn & Co for Personal Tax?
At Jermyn & Co, we understand that everyone’s financial situation is unique. Our personal tax services are designed to help you:
- Optimise Tax Efficiency – Leverage allowances, reliefs, and deductions to minimise your tax liability.
- Ensure Compliance – Stay on top of filing deadlines and HMRC requirements to avoid penalties.
- Plan for the Future – Align your tax strategy with your long-term financial goals.
- Simplify Tax Complexity – Let us handle the details so you can focus on what matters most.
From simple tax returns to complex financial arrangements, we provide expert advice and support tailored to your needs.
Proactive Tax Planning
Expert Guidance
Tailored Solutions
Stress-Free Compliance
Why Jermyn & Co?
Why Choose Jermyn & Co for Corporate Finance?
At Jermyn & Co, we understand that every business is unique. Our experienced team offers a personalised approach to corporate finance, helping you:
- Secure Financing – Access the funding you need for expansion, acquisitions, or working capital.
- Plan for Growth – Develop tailored financial strategies to achieve your business objectives.
- Manage Mergers & Acquisitions – Navigate complex transactions with confidence, from valuations to negotiations.
- Optimise Financial Performance – Streamline processes, reduce costs, and maximise profitability.
Whether you’re a start-up seeking investment or an established business exploring new opportunities, we’ll provide the expert guidance you need to succeed.
Business Valuations
Mergers & Acquisitions (M&A)
Fundraising & Investment
Financial Modelling
& Forecasting
Why Jermyn & Co?
Why Choose Jermyn & Co for HR Services?
At Jermyn & Co, we understand that every business is unique, and so are its HR needs. Our tailored HR services help you:
- Stay Compliant – Meet the latest UK employment laws and regulations with ease.
- Save Time and Resources – Let us handle the admin while you focus on growing your business.
- Engage Your Team – Build a positive, productive workplace with our employee engagement solutions.
- Grow with Confidence – Ensure your HR strategy aligns with your long-term business objectives.
Whether you need ongoing HR support or help with a specific issue, our experienced team is here to assist.
Payroll Management
HR Compliance
Employee Engagement & Retention
Training & Development
Why Jermyn & Co?
We offer tailored accounting services to various sectors through Norfolk & Suffolk.
Jermyn & Co
How We Help Shops Succeed
At Jermyn & Co, we provide more than just accounting services – we deliver strategic advice to help shops and retailers thrive. From managing day-to-day financial operations to planning for future growth, our proactive approach ensures your business remains profitable and competitive.
Ready to Take Your Retail Business to the Next Level?
Talk To Us
Schedule a consultation to discuss your accounting needs.
Plan and Implement
We’ll create a customised financial strategy for your shop.
Achieve Results
Streamline your finances, stay compliant, and grow your business with expert support.
