UK Accountant

Job Summary:

We are seeking a detail-oriented and experienced UK Accountant to manage and oversee the entire accounting process, from day-to-day bookkeeping to the finalization of accounts. The ideal candidate will be responsible for ensuring the accuracy of financial transactions, preparing periodic reports, maintaining compliance with UK accounting standards, and assisting in the preparation of year-end financial statements.

Key Responsibilities: 

1. Bookkeeping & Daily Financial Transactions:

• Record all financial transactions, including purchase and sales invoices, receipts, and payments.

• Maintain accurate records of bank transactions, credit card statements, and petty cash entries.

• Reconcile bank statements with the company’s general ledger to ensure accuracy.

• Update and maintain the accounts payable and receivable ledgers.

• Ensure accurate classification of all financial transactions according to UK accounting standards.

2. VAT Compliance & Reporting:

• Prepare and submit VAT returns in accordance with HMRC guidelines.

• Review VAT invoices and ensure proper VAT treatment.

• Monitor and maintain accurate VAT records and reports.

3. Payroll & Payroll Taxes:

• Process monthly payroll, ensuring all deductions, contributions, and tax calculations are accurate and compliant with UK tax laws.

• Ensure that employees’ tax, National Insurance contributions, and pension deductions are processed and paid to HMRC on time.

• Maintain accurate records of employee pay and benefits.

4. Management Reporting:

• Assist in the preparation of monthly and quarterly management accounts.

• Provide support in preparing financial reports such as profit and loss accounts, balance sheets, and cash flow statements.

• Analyze financial data and highlight any discrepancies or areas for improvement.

• Prepare variance analysis reports comparing budget vs. actual performance.

5. Finalization of Accounts:

• Assist with the preparation of year-end financial statements in accordance with UK GAAP (Generally Accepted Accounting Principles).

• Prepare trial balance, ensuring all accounting entries are accurate and reconciled.

• Review, analyze, and correct financial data before the finalization of accounts.

• Work closely with external auditors during the audit process and provide necessary financial data. 

6. Taxation:

• Prepare and submit corporation tax returns.

• Ensure that tax-related submissions are compliant with HMRC deadlines.

• Advise the management team on tax planning and compliance.

7. Compliance & Internal Controls:

• Ensure compliance with relevant UK accounting regulations, including FRS 102 and other applicable standards.

• Monitor and review internal controls to safeguard company assets and ensure accurate financial reporting.

• Assist in maintaining and improving accounting processes, systems, and documentation. 

8. Year-End Closing & Reporting:

• Prepare and finalize the year-end accounts, ensuring all adjustments and provisions are made correctly.

• Coordinate with auditors to ensure a smooth year-end audit process.

• Handle year-end reconciliation for all accounts and finalize financial statements for submission. 

Key Skills and Qualifications:

• Education:

o ACA/ACCA/CIMA qualified or part-qualified (or equivalent) with solid knowledge of UK accounting standards (FRS 102/UK GAAP).

o Degree in Accounting, Finance, or related field (preferred).

• Experience:

o Proven experience in UK accounting, ideally in a similar role covering bookkeeping to the finalization of accounts.

o Experience with VAT, payroll, and tax compliance.

o Familiarity with financial software such as Sage, Xero, QuickBooks, IRIS, SAPA, Tax Calc or similar accounting platforms. o Knowledge of HMRC guidelines and UK tax legislation.

• Skills:

o Strong understanding of UK accounting regulations and tax laws.

o Proficient in financial reporting, reconciliation, and accounts preparation.

o Strong analytical and problem-solving skills.

o Excellent organizational and time management skills, with the ability to prioritize tasks and meet deadlines.

o Strong attention to detail and accuracy.

o Ability to communicate effectively with internal teams and external auditors.

• Technical Proficiency:

o Proficiency in Microsoft Excel (advanced level preferred).

o Knowledge of accounting software and ERP systems.

Key Attributes:

• High level of integrity and confidentiality.

• Proactive approach to identifying areas for improvement in processes.

• Ability to work independently and as part of a team.

• Strong communication skills with the ability to explain financial matters to non-financial personnel.