Accounts, tax, VAT, payroll and bookkeeping for owner-managed businesses, sole traders and landlords. Plain English, figures you can act on, and a tax bill you can see coming.
Xero Gold PartnerSince 2010Offices in Elm and Norwich
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Who we work with
Sole traders, landlords and limited companies.
Your tax return done early, Making Tax Digital handled every quarter, and an estimate of the bill each time, so January is a payment you've already saved for.
Self AssessmentYour return prepared, checked and filed well before 31 January.
Making Tax DigitalSoftware set up, records kept and the four quarterly updates sent for you.
Quarterly tax estimatesAfter each update, what the year's bill is heading for and what to put aside.
Bookkeeping and VATIf you'd rather not keep the records yourself, we'll keep them for you.
One buy-to-let or a portfolio, held in your own name or through a company. We'll get the rent and costs right on your return, split jointly owned property properly, and work out the capital gains tax when you sell.
Property tax returnsRental income and costs on your return, with finance cost relief claimed correctly.
Making Tax Digital for landlordsQuarterly updates for your share of each property, jointly owned ones included.
Joint ownershipIncome split between owners, and a Form 17 election where a different split between spouses saves tax.
Selling a propertyThe capital gains tax worked out, and the 60-day return and payment made on time.
Property companiesAccounts and corporation tax for lettings held in a company, and whether incorporating suits you.
Accounts, corporation tax, payroll and your own tax return from one firm that sees the whole picture, so your salary, your dividends and the company's tax bill are planned together.
Statutory accountsPrepared, explained and filed at Companies House on time.
Corporation taxWorked out early, with the payment date set out and the reliefs claimed.
PayrollPayslips, pensions and HMRC submissions every pay period.
Quarterly management accountsYour figures during the year, with the corporation tax already in them.
Directors' tax returnsPlanned alongside the company, so dividends and salary fit together.
Camper van converters+Classic car restorers+Forensic psychologists+An historic visitor attraction+Pottery and glass workshops+Swimming pool hire+Drum teachers+Sound engineers+Oil and gas consultants+An arcade games maker+Celebration cake makers+A cookie baker+Grazing platter makers+Embroiderers+Mobile podiatrists+Civil celebrants+Performing arts schools+Second-hand sofa sellers+House clearance+Energy assessors+
From builders and estate agents to camper van converters, cake makers and a forensic psychologist. The list includes builders, electricians, plumbers, scaffolders, architects, estate agents, printers, hotels, driving instructors, hairdressers, fish and chip shops, dentists, florists, dog groomers, dog trainers, wedding photographers, motorcycle dealers, dressmakers, upholsterers, vending machine operators, camper van converters, classic car restorers, forensic psychologists, an historic visitor attraction, pottery and glass workshops, swimming pool hire, drum teachers, sound engineers, oil and gas consultants, an arcade games maker, celebration cake makers, a cookie baker, grazing platter makers, embroiderers, mobile podiatrists, civil celebrants, performing arts schools, second-hand sofa sellers, house clearance, energy assessors.
Making Tax Digital for Income Tax
The threshold drops every April.
Making Tax Digital for Income Tax applies to sole traders and landlords. Self-employed turnover and rent are added together, before expenses, and the line comes down each year until almost everyone with a real business is in. Each dot is a business. Watch them turn green.
What MTD actually means
Four updates a year, then a final return.
Digital records, an update to HMRC after every quarter, and a final return after the year end. The big myth is that you pay tax every quarter. You don't.
Q1by 7 Aug
Q2by 7 Nov
Q3by 7 Feb
Q4by 7 May
Final returnby 31 Jan
You still pay on 31 January and 31 July. MTD doesn't change when the tax is due.
What HMRC's estimate can't see
HMRC will show you a tax estimate. It only knows what's in the update.
The benefit HMRC offers for all those updates is a tax figure during the year. It's worked out from the update alone, so it leaves out most of what decides your bill.
Year to date only
The tax on the figures so far, not the year you're heading for.
Your other income
A salary, a pension or savings interest isn't in the update.
CIS already deducted
Tax taken off a subcontractor's pay isn't set against the bill.
Payments on account
What you've already paid towards the bill isn't taken off.
The timing problem
Up to 22 months between earning it and paying the tax on it.
Money you earn from 6 April 2026 falls in the 2026/27 tax year. The return isn't due until 31 January 2028, and that's when the bill lands. Plenty of time to spend the money first.
22months
You earn it
You wait
You pay
Apr2026
Tax year starts, 6 April
May2026
Jun2026
Jul2026
Aug2026
7 Aug: Q1 update
Sep2026
Oct2026
Nov2026
7 Nov: Q2 update
Dec2026
Jan2027
31 Jan: 1st payment on account*
Feb2027
7 Feb: Q3 update
Mar2027
Apr2027
5 April: the year ends
May2027
7 May: Q4 update
Jun2027
Jul2027
31 Jul: 2nd payment on account*
Aug2027
Sep2027
Oct2027
5 Oct: tell HMRC if you're new
Nov2027
Dec2027
Jan2028
31 Jan: return due and the bill paid
Swipe through the 22 months →
* Payments on account start once a year's bill is over £1,000. In your first year there aren't any, so the whole bill and half of next year's arrive together.
So January still hurts
In your first year, it all lands at once.
£9,200tax for 2026/27
+
£4,600first payment on account for 2027/28
=
£13,800due on 31 January 2028
Illustration: a sole trader with £48,000 profit in 2026/27, in their first year of Self Assessment. Income tax and Class 4 National Insurance at 2026/27 rates, rounded.
We already hold what HMRC's figure is missing: last year's return, your other income, the CIS and the payments on account.
Sowebuiltourown.
A full-year tax figure after every quarter, emailed to you, from the update we're filing anyway.
Quarterly tax estimates
Four chances a year to tell you your tax bill.
Every quarterly update we file already has the figures in it. After each one we turn them into a full-year estimate and email it to you, with what to put aside each month.
£9,212Year end tax for 2026/27
Due by 31 January 2028
Illustration only, not a client: a sole trader heading for £48,000 profit in 2026/27.
Example
Welbourne + CoTo: Sam
Your 2026/27 tax return is ready to approve
Hi Sam,
Your profit for the year was £48,000, and your tax and National Insurance for 2026/27 comes to £9,212.
That's within £200 of the £9,400 we estimated in February. It's due by 31 January 2028, along with the first payment on account for next year.
Kind regards, Richard
Try it yourself
What's my 2026/27 tax bill heading for?
Move the sliders. It's a rough guide for sole traders and landlords, and it shows the dates the money leaves your account.
£
£
£
£9,212to pay through Self Assessment for 2026/27
Income tax£7,086
Class 4 National Insurance£2,126
Already paid through PAYE£0
Put aside each month£770
Tax-free allowance20%40%45%
When it's paid
You've about £2,270 of basic rate band left before 40% tax starts.
A rough guide using 2026/27 rates for England, Wales and Northern Ireland. Rental figures are treated as profit before finance cost relief. It leaves out savings, dividends, student loans, Scottish rates and other reliefs. HMRC sets payments on account from your previous year's bill, so when this isn't your first year it assumes last year's bill was the same.
For limited companies
Your figures while the year's still running.
Quarterly management accounts, built off the VAT return we're doing anyway. This month, this quarter, year to date and the same point last year, with corporation tax worked out every month so it's already in the figures.
Which months make the money?Can the company afford that dividend?What will the corporation tax be?Should we buy the van before the year end?
Example Trading LtdManagement pack · quarter to 30 September 2026
Example figures
Sales this quarter
£186,400
+8.2% on last year
Gross margin
34.1%
down from 36.0%
Profit, year to date
£68,400
six months
Cash at the bank
£142,800
30 September
Corporation tax so far
£16,250
AprJunSepDecMar
Of about £32,500 for the year, accrued month by month.
7 NovMTDQuarterly update, to 5 OctoberMaking Tax Digital for Income Tax.
31 JanSelf AssessmentTax return and balancing paymentPlus the first payment on account for the new year.
Self AssessmentMaking Tax DigitalEmployersTax year
How we're different
Town-centre offices→cloud software.
Box files→Xero.
Jargon→plain English.
A call centre→someone who knows your business.
A shock in January→an estimate every quarter.
2010
Richard set up the firm after years in larger regional firms. The idea was to put the money into good software instead of expensive offices, and pass the saving on.
2021
Nik joined after a career at Whiting & Partners, PKF and BDO. He runs the Norwich side from his garden office. Yes, it's a bit of a theme.
Today
Offices in Elm and Norwich, working in Xero and the other cloud packages our clients use, for businesses across Norfolk, Cambridgeshire and well beyond.
The team
The directors.
The "& Co" was originally his cat.
Richard WelbourneFCCA
Founder and director · Elm
Set up the firm in 2010. Plays guitar in a band and works as a sound engineer in his spare time.
Plays clarinet in a local band and judges dog agility.
Nik KnightFCA
Director · Norwich
Qualified in 1998 and worked at Whiting & Partners, PKF and BDO before joining in 2021.
Hover over a photo, or tap it on a phone.
Kind words
Richard was very helpful and took a lot of the stress away from sorting out our company registration, accounting software and PAYE for us which then allowed more time to focus on other things.
Josh KnightManaging Director, J Knight Design Ltd
You have shown your professionalism and support to us and your advice is highly regarded. Your guidance has been much appreciated through our payroll transition from our previous provider.
Mike FrostiTech Security Ltd
Chartered Certified AccountantsACCAXero Gold PartnerCloud accountingSince 2010Founded by Richard WelbourneRegistered with the ICOZ2393982
XeroHubdocQuickBooksFreeAgentSageZoho Books
Questions
The ones we hear most.
Xero keeps your books. It doesn't prepare your statutory accounts, work out your corporation tax or file anything with Companies House. We use what's in Xero to do that, and to tell you what the figures mean while there's still time to act on them.
No. You send HMRC an update every quarter, but you still pay on 31 January and 31 July. We use each update to tell you what the year's bill is heading for.
It means we're qualified members of ACCA and work to its professional standards, including keeping our training up to date. Some lenders ask for accounts from a chartered accountant, so it can matter when you apply for a mortgage or a loan.
It reflects how many of our clients use Xero and how long we've worked with it. If you're moving onto Xero, we'll set it up, connect your bank feeds and show you how to use it.
Less than most people expect. You tell us, we contact your current accountant for what we need, and we take it from there.
Yes. You'll have one main contact who knows your business.
No. Most clients work with us by email, phone and our secure online portal, and we're happy to meet in person if you'd rather.
No. We act for limited companies, sole traders, partnerships and landlords, from people just starting out to companies turning over millions.
Get in touch
Let's talk about your business.
Tell us what you do and what you need. The first conversation is free.
Elm01945 66199916 Birch Grove, Elm, Wisbech, Cambridgeshire PE14 0AP
Welbourne & Co LtdVersion: October 2026Clients and their contacts
This notice explains what personal information we hold about you, why we hold it, who we share it with, how long we keep it and what your rights are. It applies to our clients, and to the directors, shareholders, partners, employees and family members of our clients whose information we handle as part of our work. It should be read alongside our terms and conditions.
01 · WHO WE ARE
The firm responsible for your information
Welbourne & Co Ltd (trading as Welbourne + Co) is the controller of the personal information described in this notice. We're a company registered in England and Wales, number 07171141, with our registered office at 16 Birch Grove, Elm, Wisbech, Cambridgeshire PE14 0AP. We're registered with the Information Commissioner's Office, registration number Z2393982.
For any question about your information, or to exercise any of your rights, contact Richard Welbourne at [email protected] or on 01945 661999.
02 · WHAT WE HOLD
The information we collect
Identity and contact details: name, address, date of birth, email, telephone, and copies of identity documents we're required to check.
Tax and government references: National Insurance number, UTRs, VAT and PAYE references, Companies House personal codes.
Financial information: income, bank and loan details, investments, property, pensions, and the business records you give us or give us access to.
Payroll information about your employees, where we run your payroll: pay, tax codes, pension details and statutory payments.
Family information where it affects your tax, such as a spouse's income or children for child benefit.
Records of our dealings with you: emails, letters, notes of meetings and calls, and, where we tell you we're doing so, recordings or transcripts of calls and meetings.
Occasionally we hold more sensitive information, for example health details where they affect statutory sick pay or a tax relief. We only hold it where the work needs it.
Where it comes from
Mostly from you. We also receive information from HMRC and Companies House through our agent access, from your previous accountant, from software you give us access to (such as Xero), from identity verification services, and from public registers.
03 · WHY WE USE IT
Our reasons, and the legal basis for each
What we use it for
Legal basis
Providing the services in our engagement letter: accounts, tax returns, payroll, VAT, bookkeeping and advice
Performance of our contract with you
Checking identity, anti-money laundering checks, and reporting to authorities where the law requires
Legal obligation
Keeping records to meet tax, company law and professional rules
Legal obligation
Keeping records to deal with any complaint, claim or professional disciplinary matter
Legitimate interests
Running and improving our practice, including quality checks and training
Legitimate interests
Telling existing clients about changes in tax law and our other services
Legitimate interests; you can opt out at any time
Anything else we ask your permission for
Consent, which you can withdraw at any time
04 · WHO WE SHARE IT WITH
Sharing, and the firms that process data for us
We only share your information where the work needs it, the law requires it, or you've asked us to. That includes:
HMRC, Companies House, The Pensions Regulator and pension providers, when we file or submit on your behalf.
Banks, lenders, mortgage brokers or other advisers, when you ask us to.
The Association of Chartered Certified Accountants (ACCA), which can inspect our files as part of its monitoring of our work.
Our professional indemnity insurers and legal advisers, if a claim arises.
The National Crime Agency or other authorities, where the law requires us to report.
Other accountants we occasionally subcontract work to, who are bound by the same confidentiality terms as we are.
Software and service providers
We use business software that stores or processes information on our behalf, and we work inside software that you or your business already use. The providers are:
Provider
What it's used for
Our own systems
Microsoft (Microsoft 365)
Email, documents and file storage
Bright SG (BrightManager)
Practice management, the client portal and electronic signatures
Veriphy (through BrightManager)
Identity and anti-money laundering checks
Employment Hero (KeyPay)
Running payroll for clients who use our payroll service
8x8
Our telephone system
Capium
Accounts production and tax returns
Anthropic (Claude)
AI assistant used by our team to help analyse records and prepare drafts
Dashlane
Storing passwords and logins securely, including any you share with us, in an encrypted vault
Plaud
Recording and transcribing calls and meetings, only where we've told you at the start
Absolute VATFiler
Submitting VAT returns to HMRC under Making Tax Digital
GoCardless
Collecting our fees by direct debit
Companies Made Simple
London registered office service, for clients who choose it
Accounting software we access for you
Xero and Hubdoc
Bookkeeping, and capturing receipts and bills
Intuit (QuickBooks)
Bookkeeping
Sage
Bookkeeping
FreeAgent
Bookkeeping
Zoho (Zoho Books)
Bookkeeping
File sharing, where you choose to use it
Dropbox
Receiving files that clients share with us
Google (Google Workspace and Google Drive)
Opening files and folders that clients share with us
Apple (iCloud)
Opening files that clients share with us
Where you already use one of these accounting or file-sharing services, the provider holds your information under your own agreement with them, and we access it with your permission.
We'll update this list when we change providers. The current version is always on our website.
05 · ARTIFICIAL INTELLIGENCE
How we use AI tools
We use AI tools to help our team work more efficiently, for example to analyse bookkeeping records, check figures, and prepare first drafts of documents and letters. The rules we work to:
We use business versions of these tools, under terms that keep your information confidential and don't allow it to be used to train the provider's AI models.
A member of our team reviews everything an AI tool produces before it is relied on or sent to you. Responsibility for our work stays with us.
We don't use AI to make decisions about you that have legal or similarly significant effects without a person being involved.
If we record or transcribe a call or meeting, we'll tell you at the start, and you can ask us not to.
06 · OUTSIDE THE UK
International transfers
Some of our providers, or their own suppliers, store or process information outside the UK, mainly in the European Economic Area and the United States. Where that happens, the transfer is protected by the safeguards UK law requires, such as a UK adequacy decision (including the UK-US data bridge) or the Information Commissioner's international data transfer agreement.
07 · HOW LONG WE KEEP IT
Retention
Information
How long
Accounting and tax records, working papers and correspondence
7 years after the end of the period they relate to
Identity and anti-money laundering records
5 years after we stop acting for you, as the law requires
Engagement letters and records of advice
7 years after we stop acting for you
Information about people who asked for a quote but didn't engage us
12 months
Marketing preferences
Until you opt out, and then a record of your opt-out
We may keep information longer where the law requires it, or where it's needed for a complaint, claim or investigation.
08 · KEEPING IT SECURE
Security
We keep information in secure cloud systems with access limited to the people who need it. Documents should be sent to us through our secure client portal where possible, because ordinary email can be intercepted. If a security incident affects your information in a way that puts you at risk, we'll tell you.
09 · YOUR RIGHTS
What you can ask us to do
You can ask us to:
give you a copy of the information we hold about you;
correct anything that's wrong or incomplete;
delete information, or restrict how we use it;
stop using it for a purpose based on our legitimate interests, including marketing;
give your information to you, or another firm, in a usable electronic format.
Some of these rights are limited where we have to keep information by law, for example anti-money laundering and tax records. We'll respond within one month, and there's no charge in most cases.
10 · COMPLAINTS
If you're unhappy with how we've handled your information
Please tell us first. Email [email protected] with "Data protection complaint" in the subject, or write to us at the address in section 1. We'll acknowledge your complaint within 30 days, keep you updated while we look into it, and tell you the outcome.
You can also complain to the Information Commissioner's Office at any time: ico.org.uk/make-a-complaint, or 0303 123 1113.
11 · CHANGES
Updates to this notice
We review this notice at least once a year and when we change how we work. The current version is on our website, and we'll tell you about any significant change.
12 · THIS WEBSITE
Enquiries and cookies
If you send us an enquiry through this website, we use your name, contact details and message to reply to you. If you become a client, the enquiry joins your client file and is kept as section 7 sets out. If you don't, we delete it within [RICHARD TO CONFIRM: 12 months].
[CHAOS INTERNET TO COMPLETE: the cookies and any analytics this site uses, what each is for, and how a visitor can refuse the ones that aren't strictly necessary. Draft addition, not yet part of the approved October 2026 notice.]
