Running a successful e-commerce store is no easy feat. Once you’ve set up the multiple aspects of your business, it’s important to turn to the balancing of your finances. With all that juggling, carving time out to dig into your finances can be challenging, but failure to do so could cause headaches further on down the line. Having a strong understanding of tax deductions and your finances can reduce the amount you owe at the end of the year, saving you money that can be invested back into your business.

Why use Dead Simple Accounting

Dead Simple Accounting takes the hassle out of finances leaving you to focus on growing your business. Our focus is to stay involved in the entire process, right from completing your self-assessment return to filing them with HMRC. We also offer forecasting services that enable you to meet your goals, risk-free. Whether you’re looking to start your own e-commerce business or form a limited company, we can offer advice on what’s right for you every step of the way. What’s more, we’re rated 5-stars across Google and Facebook!

 

recent testimonials
We’ve been using Dead Simple Accounting since we started the company and can’t recommend them highly enough! Responsive, jargon & stress free and very reasonable fees too. Joanne & James in their team provide excellent advice, help with our Quickbooks and have enabled us to grow month on month with additional advice & suggestions. For anyone considering moving their accountant, look no further.

Allotment Accounts

I am very happy with the service I am receiving from Dead Simple Accounting! James and Dal are very knowledgeable, professional and capable, and they have helped me do everything properly with my first year running a Ltd Company! Their communication level is the best I have experienced, and they are always happy to answer and questions I have (which is quite a lot) Choosing an accountant is a daunting task and a difficult decision, so I was able to breath a huge sigh of relief when I realised I made the right decision and I know I am getting good value for my money. If you’re thinking of working with Dead Simple Accountants, stop thinking, and go for it, you will be in great hands and they will look after you.

Liam C

James has really helped me with my tax return this year. Really useful advice and incredibly fast service, especially considering the complicated nature of having a mixture of employed and self employed incomes. Will be using them again on a regular basis!

Mike Malyan

Amazing, fast response and advice received from James at Dead Simple Accounting with my annual personal tax return this year… I will be using James again next year. James took the pain out of the detail!

Andrew R

I have been working with James for a few months, and my experience with Dead Simple Accounting has been amazing, he has provided me with so much information (As I am a fairly new start up Company) he has been honest about things I need to do and there has been no “hidden small print” a great company to work with!

Nicolle Huntingford

Being new to self employment and not the best at ‘life admin’, tax returns and anything to do with the HMRC is a bit of a headache for me. It was a pleasure to work with James as he kept everything so simple, was always available to speak with and answer any questions I had and handled the whole process very smoothly. I will be using him again for my next tax return for sure. With all of the multiple pressure we are faced with today, this was one less for me and i’m truly grateful. Thanks James! It really was dead simple 🙂

Purdy Smith

Realised last January that mothers tax return should have been done, because she had letter not form sent in post she thought not needed. At the last minute James sorted the code for online return, called at mothers to collect it, made home visit to collate paperwork, and submitted it before deadline. Mother most impressed, so was I! First class service at very reasonable cost. However if you have tax return to do don’t delay any longer, contact James to get it sorted well before 31st Jan.

Philippa Jackson

Being new to the world of self-employment & all the responsibilities it brings, having somebody like James to take control, helping me to ensure my tax affairs are in order could not have been made any easier, straightforward or giving me peace of mind. I would recommend James of Dead Simple Accounting to anybody who asks & I’d be more than happy to speak to anybody personally to put your mind at ease.

Lee Thorley

Expert accountants at a competitive rate, friendly and down to earth, would recommend to anyone

Craig Gowans

Excellent service from Dead simple Accounting, they have been looking after our books for more than two years now and we are very happy with their service!

Bernard Mgina

Very reasonable fees for a quality professional service, would highly recommend James.

Lorraine Hawkins

Dead Simple took over my business accounts / payroll / and personal tax at the beginning of the year – and it’s been the most straightforward and informative admin solution I’ve ever experienced. No nasty tax surprises and easy monthly payments, so no nasty accountant fee surprises either!

Would highly recommend.

Jay Postones

Really great service, clear pricing, quick responses and a pleasure to work with. I fully recommend James. He takes all the stress out of the accounts and makes it all very easy. Really glad I found his firm and will be working with him for a long time I hope. Cheers!

Robert Jeffreys

James was extremely helpful, patient and understanding and worked very quickly to my tight deadline. I was feeling extremely stressed but he took care of everything with ease! He was very professional and I’m definitely using Dead Simple Accounting Again.

Truthpaste

Once again, a great service from James. Very prompt to respond to any of my queries and everything sorted very quickly.

Maxine Slade

We have used Dead Simple Accounting as our accountancy partner in 2017. After two poor experiences with other companies it is such a joy to work with complete professionals. We have been delighted by the quality of advice from Dead Simple Accounting and the speed of their responses, which is crucial for dynamic business owners, enabling us to make quick, informed, important decisions. I would thoroughly recommend DSA to other businesses and can speak first hand about the importance of working with the correct partner and the positive impact this will have.

Fruitful Marketing

Excellent service. Extremely knowledgeable, helpful and friendly

Josh Middleton

Very helpful and supportive. And we were impressed with the response time by email or their contact form. Thanks James for dealing with all our queries

Dubai Real Estate

World’s Best Accountants made everything really easy and affordable

Sean Twamley

Great fast and efficient service. James replied to my emails and questions very quickly and was very knowledgeable. A great service

Barry Simpson

I used to be apprehensive to speak with my previous accountant, the confusing “Accountancy terms” would leave me baffled. With Dead Simple Accounting looking after my business, I’m now happy to ask those questions I thought “silly” to ask before.

The Style Guru

As a busy business owner without the time, knowledge, or inclination to invest my energy in managing my own accounts, the service provided by Dead Simple has been absolutely everything I could have possibly asked for: easy, efficient & affordable. In fact, the name says it all: dead simple. 5-Stars.

GymHippie

Extremely pleased with the service! James and his team were always very responsive in getting back to me with my queries and being a novice in the daunting field of filing tax returns, they sure took away the hassle as well as the headache! Would highly recommend!!!

Sathia Rajeswaran

Excellent turnaround time in a busy period. Sound advice, and even offered a bespoke package given my unique requirements.

Robin Harrison

Just completed my tax return using their online tax return service. Couldn’t believe how easy it was and how quick they turned it around. Highly recommend – great value.

Tom Hollings

Fantastic experience with James, having worked with him for around 6 months I have already recommended him to a number of friends and family. Excellent value for a great service.

Gian Barker

I’ve been using James’ services for years, and he’s great!
He takes the hassle out of the whole process and over the years he has consistently made it so that the accountancy side of my business gets done efficiently without me having to worry about a thing.
Highly recommended!

Adam Williams

Dead Simple Accounting – name says it all – James is super helpful really flexible and easy to deal with! Would recommend!

Laura Fleming

Great accountants! Would definitely recommend to anyone needing their business finances looked after.

Sam Cameron

Fantastic experience with James from Dead Simple Accounting. We started working with him about 8 months ago (we being KNOXA – music producers and artists) and no longer have to worry about invoicing, wages, tax, expenses etc. James sorts it all for us and couldn’t recommend him enough!

KNOXA

Made everything easy, quick responses when I needed something, very helpful. Clayton made it dead simple!

Adam Davey

Using their tax return service was super easy and fast. Splendid! Recommend 100%

Daisy Welford-Ranson

Brilliant – very quick and efficient. Took a horrid task from me and made it feel quite good! Really nice people too! Thankyou.

Kate Higgins

Excellent! Hands down the fastest & easiest tax return service i’ve ever used. Knowledgeable, helpful, easy to deal with, Dead Simple! Thanks so much. Shiv x

Siobhan Stabler-Ward

The name says it all…! Accounting actually made dead simple – customer service couldn’t be better. James is a pleasure to work with, his expert advise gives me peace of mind and saves me so much time. Highly recommended!

Alex Bailey

I feel grateful to have found such a helpful company. The customer service was fantastic and they offer a great service to help take away the stress of the dreaded tax return! I would definitely recommend. Thank you!

PJ Mamma

James is a massive help to me. always supportive and helpful. offers great advice and all at competitive rates. Could not recommend more!

Sam White

I was apprehensive about getting my company tax return completed and had left it to the 11th hour. Dead Simple Accounting stepped in and took all of the pressure out of it. They answered all of my questions and provided a fast and efficient service. Highly recommended!

Jannah Cooper

If you’re like us and were thinking about doing accounts yourself or using some online software program….DON’T!! James and the team at DSA have been brilliant and have really took the stress out of our accounting. Whenever we have a question James is always happy to help and gives really good straightforward advice. We wouldn’t hesitate to recommend this company!

SafeBuild Construction

Excellent service and would highly recommend to others!! I won’t go anywhere else now! Very professional and quick to respond to any questions.

Tracey Stevenson

We have used Dead Simple Accounting as our accountancy partner in 2017. After two poor experiences with other companies it is such a joy to work with complete professionals. We have been delighted by the quality of advice from Dead Simple Accounting and the speed of their responses, which is crucial for dynamic business owners, enabling us to make quick, informed, important decisions. I would thoroughly recommend DSA to other businesses and can speak first hand about the importance of working with the correct partner and the positive impact this will have.

James Wright

What Expenses Can E-commerce Businesses Claim?

Tax-deductible business expenses can contribute greatly to the growth of your business. Many online sellers miss out on valuable write-offs because of their lack of understanding of the translation of traditional deductions, to an online model. Day-to-day expenses that are recorded and reported could save you a small fortune. The following is a list of expenses an E-commerce business may be able to claim:

  • Advertising and Promotion
    • Any cost incurred on the promotion of your online business is deductible including the following:
      • Marketing: Google Adwords, Facebook Ads, ad placements in digital and print publications, sponsored ad placements on seller platforms, email marketing software, and fees sponsored content by influencers.
      • Website-related content: Hosting, plugins, stock photos, domain names, subscription website services, themes and any other purchase made for your website.
  • Bank Fees
    • The fee associated with your business bank and credit card accounts are deductible:
      • ATM fees, overdraft fees, deposit fees, wire transfer fees, and monthly service fees.
      • Credit card fee: Annual fees and late payment fees.
  • Cost of Goods Sold
    • Cost of Goods Sold, or COGS, is a special kind of expense that relates to the cost that a seller absorbs to manufacture or sell an item. This includes the following:
      • Materials: Raw materials required to manufacture and sell your product such as threads, brand labels, and so on.
      • Labour: Direct labour pertains to the people directly involved in the production of the product, not the people hired for selling the product.
      • Inventory: Merchandise purchased to resell falls under inventory. Remember that you can only write off the cost of inventory that is sold. Unsold inventory can be considered as an asset.
  • Home office expenses
    • It’s important to keep a record of all your home office expenses. You have the liberty to write off a percentage of the following expenses:
      • Renters or homeowners insurance
      • Repairs to your home office space- any repair made directly to your home office is 100% deductible
      • Rent or mortgage
      • Utilities such as gas, electricity, and water

Need Further Help?

If you have any further questions or require help concerning e-commerce tax, don’t hesitate get in touch!

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