Taxdone.co.uk Reviews

Based on looking at the website, Taxdone.co.uk appears to be a UK-based accounting and tax service provider specifically tailored for startups, SMEs, and entrepreneurs.

They aim to simplify complex financial processes, offering services like Xero setup, tax registration with HMRC, ongoing account management, and automation of manual accounting tasks.

While their focus is on helping businesses manage their finances and comply with tax regulations, it’s crucial for users to understand the implications of certain financial products and services, particularly those involving interest riba, which is not permissible in Islam.

For Muslims, engaging with interest-based financial mechanisms can have negative consequences, so it’s always advisable to seek out ethical, Sharia-compliant alternatives for business financing, investments, and accounting practices.

Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.

IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

Taxdone.co.uk Review & First Look

Upon initial review, Taxdone.co.uk presents itself as a modern, client-focused accounting firm. Their website emphasizes simplicity, efficiency, and a human touch, aiming to demystify accounting and tax for business owners. They specifically cater to a range of sectors, including:

• Creative Industries: Graphic designers, videographers, influencers, and architecture studios.
• E-commerce: From Etsy/Amazon side hustles to established online stores.
• Professional Services: Solicitors, investors, and other service-based businesses.
• Tech & Digital: HealthTech, FinTech, and broader digital enterprises.

The site is clean, navigable, and clearly articulates their core services.

The user experience feels geared towards removing common pain points associated with traditional accounting, such as jargon and impersonal service.

Taxdone.co.uk Pros & Cons

When evaluating Taxdone.co.uk, several positive aspects stand out, though it’s also important to consider potential drawbacks, especially from a Sharia-compliant perspective.

Pros:

• Client-Centric Approach: They highlight “exceptional service tailored to your needs and preferences” and “dedicated account managers who are decision makers.” This suggests a personalized experience.
• Efficiency and Automation: A strong emphasis on “efficient processes” and “embracing innovation and automation” aims to reduce manual work and free up client time. This includes setting up clients on Xero and integrating with HMRC.
• UK-Qualified Staff: All work is stated to be done by “in-house UK qualified staff,” which can instill confidence regarding compliance and expertise.
• No Lengthy Contracts or Hidden Fees: They explicitly state “without the bad and the ugly… lengthy contracts that tie you in forever” and “hidden fees and hourly billables.” This transparency is a significant positive.
• Sector-Specific Expertise: Their stated expertise in creative, e-commerce, professional services, and tech sectors suggests they understand the unique financial nuances of these industries.

Cons:

• Potential for Interest-Based Advice: While the core accounting services themselves might be neutral, an accounting firm often advises on broader financial strategies, including loans, financing, and investments. If Taxdone.co.uk, or any conventional accountant, recommends or facilitates interest-based financial products riba for businesses, this becomes a significant concern from an Islamic standpoint. For example, discussions around “Business Cars – Buying, Finance or Leasing?” could lead to recommendations involving interest-bearing loans or leases.
• Lack of Explicit Sharia-Compliance: There’s no mention of specific Sharia-compliant accounting practices or financial advice. This means Muslim business owners would need to exercise extreme caution and diligence to ensure that any advice or solutions provided align with Islamic principles, particularly regarding avoiding riba.
• Generic Financial Advice: While they offer insights into UK budgets and VAT, the advice seems generalized. For complex business structures or specific ethical considerations, a more tailored, Sharia-aware approach would be necessary.

Taxdone.co.uk Alternatives

For Muslim business owners seeking accounting and tax services that align with Islamic principles, exploring alternatives that explicitly offer Sharia-compliant financial advice is paramount.

Sharia-Compliant Accounting & Finance Alternatives:

• Islamic Accounting Firms: Seek out accounting firms that specialize in Islamic finance and Sharia-compliant business practices. These firms are typically well-versed in Zakat calculations, avoiding riba in transactions, and structuring ethical investments. Examples might include firms connected to Islamic financial institutions or those explicitly marketing their Sharia expertise.
• Islamic Business Consultants: Engage consultants who can help structure your business operations, financing, and tax strategies in a manner that adheres strictly to Islamic law. This might involve advice on profit-sharing agreements, ethical investments, and avoiding conventional debt.
• Halal Financing Providers: For business growth or capital needs, explore institutions that offer Murabaha cost-plus financing, Musharakah partnership, Mudarabah profit-sharing, or Ijara leasing agreements, all of which are designed to be free from interest.
• Community-Based Financial Advisors: In some Muslim communities, there are knowledgeable individuals or small practices that offer advice on halal wealth management and business operations. These can be valuable resources for localized, personalized guidance.
• DIY with Sharia Knowledge: For smaller businesses, educating oneself thoroughly on Islamic finance principles e.g., via reputable scholars, books, and courses and using conventional accounting software while being mindful of Sharia restrictions can be an option. However, professional guidance is always recommended for complex matters.

When choosing an alternative, prioritize those that explicitly demonstrate a deep understanding and commitment to Islamic finance principles.

This includes transparency about their financial models and a clear articulation of how they help clients avoid riba and other impermissible practices.

How to Evaluate Any Accounting Service from an Islamic Perspective

Before committing to any accounting or financial service provider, including Taxdone.co.uk, it’s crucial to perform due diligence through an Islamic lens.

This involves asking specific questions and scrutinizing their services to ensure compliance with Sharia.

Key Evaluation Points:

• Riba Interest Avoidance:
  • Question: Does the firm advise on or facilitate interest-bearing loans, credit lines, or investment products?
  • Action: If they do, clarify their stance on providing interest-free alternatives. Be explicit that you require Sharia-compliant financial solutions.
• Halal Income & Expenses:
  • Question: Are they equipped to help distinguish between halal and haram income streams and expenses, especially for businesses with diverse operations?
  • Action: Ensure they understand the nuances of permissible business activities and can help with Zakat calculations on business assets and profits.
• Zakat Calculation & Compliance:
  • Question: Do they offer specific services for Zakat calculation and guidance on its distribution for businesses?
  • Action: A truly Sharia-compliant firm would integrate Zakat as a core aspect of financial planning, not just an afterthought.
• Ethical Investments:
  • Question: If investment advice is offered, is it screened for adherence to Islamic ethical guidelines e.g., avoiding industries like alcohol, gambling, conventional banking, or entertainment with haram content?
  • Action: Look for advisors who understand socially responsible investing SRI that aligns with Islamic values.
• Transparency & Contracts:
  • Question: Are their service contracts and fee structures clear, free from ambiguity gharar, and without hidden charges?
  • Action: Ensure all terms are clearly understood and do not involve elements that might be considered uncertain or exploitative under Sharia.
• Source of Funds:
  • Question: If they assist with financing, what are the sources of those funds, and are they entirely interest-free?
  • Action: Never accept financing that is interest-based, regardless of the seemingly “good deal.”
• Reputation & References:
  • Question: Do they have a track record of working with clients who prioritize ethical and Sharia-compliant financial practices?
  • Action: Seek references or testimonials from other Muslim business owners who have successfully navigated financial compliance with their help.

It is highly recommended to explicitly discuss your need for Sharia-compliant services during your initial discovery call with any accounting firm.

If they cannot accommodate or do not understand these requirements, it’s a clear signal to seek alternatives that prioritize Islamic financial ethics.

Taxdone.co.uk Pricing

Taxdone.co.uk does not display fixed pricing plans directly on their website. Instead, they operate on a quote-based system. This approach is common among professional service providers who tailor their offerings to individual client needs.

How Their Pricing Works:

• Discovery Call: The process starts with a “discovery call” where they aim to “understand your business, situation and explain what we can do to help.”
• Custom Quote: During or after this call, they will “give you a quote for our services” based on the complexity and scope of your specific requirements.
• No Hidden Fees: They explicitly state “without the bad and the ugly… hidden fees and hourly billables,” which suggests a fixed-fee approach once the quote is provided and agreed upon.

Implications of Quote-Based Pricing:

• Personalized Service: This allows them to create a service package that perfectly matches your business size, industry, and specific accounting/tax needs.
• Potential for Variation: Pricing will vary significantly from one client to another based on factors like:
  • Business size: Smaller startups will likely pay less than larger, more established SMEs.
  • Transaction volume: Businesses with higher transaction volumes generally require more extensive bookkeeping.
  • Complexity: Businesses with international operations, multiple income streams, or complex tax situations will incur higher fees.
  • Specific services required: Whether you need basic annual accounts, VAT returns, payroll services, or more comprehensive financial planning will impact the cost.
• Transparency After Quote: While the initial website doesn’t show prices, they promise transparency after the quote, aiming to avoid hourly billing surprises.

For potential clients, the lack of upfront pricing means you’ll need to invest time in a discovery call to get a clear understanding of the costs.

This is standard practice in many professional services, but it does require a commitment to the initial consultation.

When engaging in this call, it’s an opportune moment to also discuss your Sharia-compliance requirements and ascertain if their proposed services and fee structures align with Islamic principles.

The Process: How Taxdone.co.uk Works

Taxdone.co.uk outlines a five-step process designed to onboard clients efficiently and provide ongoing support.

This structured approach aims to provide clarity and ease of transition for businesses looking for accounting services.

The Five-Step Process:

1. Discovery Call:
   • Purpose: To understand your business, current situation, and specific needs.
   • Outcome: They explain how they can help and provide a customized quote for their services. This is your chance to explicitly state your need for Sharia-compliant advice if applicable.
2. Sign-Up and Set Up:
   • Timeline: Usually done within a week, unless you’re changing accountants, which might take longer due to handover processes.
   • Action: They set you up on Xero a popular cloud accounting software and register you for any necessary taxes with HMRC.
3. Getting Your Accounts Up to Date:
   • New Businesses: Straightforward setup of Xero.
   • Trading Businesses: Assistance in updating historical accounts to give you a clear overview of your financial numbers. This is crucial for accurate tax filings and business insights.
4. Automating Manual Processes:
   • Focus: Working closely with clients to minimize manual work through automation.
   • Benefit: Allows clients to focus more on their core business and Taxdone.co.uk to provide more meaningful, strategic help. This could involve integrating various financial tools or setting up automated reporting.
5. Ongoing Engagement:
   • Access: Continuous access to a dedicated accountant.
   • Communication: They keep you informed, adapting communication frequency based on client preference some prefer less contact, some more. This ensures you’re always in the loop regarding your financial standing and compliance.

This structured process suggests a systematic and client-friendly approach to accounting services.

For Muslim business owners, each step presents an opportunity to reinforce the requirement for Sharia-compliant financial advice, particularly during the “Discovery Call” and “Ongoing Engagement” phases, where financial strategies and specific transactions might be discussed.

It’s imperative to proactively guide the conversation towards permissible financial solutions and ensure that any recommendations align with Islamic ethics.

The Importance of Ethical Accounting & Avoiding Riba

This necessitates a conscious effort from Muslim business owners to ensure their accounting practices are sound.

Why Avoiding Riba is Crucial:

• Divine Prohibition: The Quran explicitly forbids Riba, emphasizing its destructive nature for individuals and societies. It’s seen as an unjust enrichment at the expense of others, leading to economic disparity and instability.
• Ethical Imperative: Islamic finance promotes risk-sharing, equitable partnerships, and asset-backed transactions over debt-based, interest-driven models. Riba concentrates wealth and stifles genuine productive investment.
• Barakah Blessing: Earning money through halal means and avoiding Riba is believed to bring blessings Barakah to one’s wealth and business. Conversely, engaging in Riba can diminish blessings and lead to unforeseen difficulties.
• Societal Impact: Interest-based systems often lead to cycles of debt, inflation, and financial crises. Islamic finance, by contrast, encourages real economic activity and social justice.

How to Ensure Ethical Accounting:

• Transparency: Maintain clear, accurate records of all financial transactions.
• Halal Revenue Streams: Ensure all business activities and revenue generation methods are permissible in Islam.
• Zakat Calculation: Diligently calculate and pay Zakat on eligible business assets and profits. This is a fundamental pillar of Islamic finance and helps purify wealth.
• Ethical Expenditures: Ensure business expenses are for permissible goods and services.
• Due Diligence with Partners: When entering partnerships or seeking financing, verify that the other party’s practices are also Sharia-compliant, especially regarding interest.
• Continuous Learning: Stay informed about Islamic financial principles and consult with knowledgeable scholars or ethical finance experts when in doubt.

While Taxdone.co.uk can help with the technical aspects of tax compliance and financial reporting, the responsibility for ensuring ethical and Sharia-compliant business operations ultimately rests with the Muslim business owner.

This means actively steering conversations, refusing interest-based proposals, and seeking specific guidance on halal alternatives for any financial needs.

The goal is to build a business that not only thrives financially but also garners divine blessing through its adherence to Islamic principles.

How to Cancel Taxdone.co.uk Subscription / Services

Given that Taxdone.co.uk emphasizes “No Lengthy Contracts” on their website, it suggests a more flexible cancellation policy than traditional accounting firms that often bind clients into long-term agreements.

While specific cancellation terms are not explicitly detailed, their stated philosophy implies a straightforward process.

General Steps to Cancel Professional Services:

1. Review Your Agreement/Engagement Letter: When you signed up with Taxdone.co.uk, you would have received a formal agreement or engagement letter. This document is crucial as it outlines the specific terms of service, including notice periods for termination, any cancellation fees though they state “no hidden fees”, and the procedure for winding down services.
2. Provide Written Notice: It is almost always best practice to provide written notice of your intention to cancel. This creates a clear record.
   • Email: Send an email to your dedicated account manager or their general contact email address, stating your decision to terminate services.
   • Letter: For formality, you might also send a physical letter, though email is usually sufficient in modern business.
3. Adhere to Notice Periods: Most service agreements require a notice period e.g., 30 or 60 days. You’ll typically be liable for fees during this notice period.
4. Data Handover: Discuss the process for transferring your financial data, records, and any relevant accounting files e.g., Xero access, HMRC credentials to you or your new accountant. Ensure this is done securely and comprehensively.
5. Final Invoice & Payment: Expect a final invoice covering any services rendered up to the termination date, including the notice period. Settle this promptly.
6. Confirmation of Cancellation: Request a written confirmation from Taxdone.co.uk that your services have been successfully terminated and all obligations are fulfilled.

Taxdone.co.uk’s “No Lengthy Contracts” Implication:

Their claim of “No Lengthy Contracts that tie you in forever” implies that their agreements are either rolling e.g., monthly/quarterly with a short notice period or project-based with a clear end.

This should make the cancellation process less burdensome than with firms that require multi-year commitments.

Recommendation: The most effective way to understand their cancellation process is to directly contact Taxdone.co.uk and refer to your specific service agreement. Inquire about the exact notice period required and the procedure for data transfer to ensure a smooth transition, should you decide to move your accounting needs elsewhere.

Frequently Asked Questions

What is Taxdone.co.uk?

Taxdone.co.uk is a UK-based accounting and tax service provider designed to assist startups, small to medium-sized enterprises SMEs, and entrepreneurs with their financial management and tax compliance needs.

What services does Taxdone.co.uk offer?

Taxdone.co.uk offers a range of services including Xero setup and management, HMRC tax registration, ongoing account management, automation of manual accounting processes, and tailored tax advice.

Who is Taxdone.co.uk designed for?

Taxdone.co.uk targets a diverse clientele, including businesses in creative industries, e-commerce, professional services, and tech & digital sectors, ranging from new ventures to well-established companies.

Does Taxdone.co.uk provide services outside of London?

Yes, while based in London, Taxdone.co.uk works with businesses across the entire United Kingdom.

How does Taxdone.co.uk onboard new clients?

Taxdone.co.uk follows a five-step process: a discovery call, sign-up and setup including Xero integration, getting accounts up to date, automating manual processes, and ongoing engagement with a dedicated accountant.

Is Taxdone.co.uk expensive?

Taxdone.co.uk does not display fixed pricing on their website.

They provide custom quotes based on a discovery call, where they assess your business needs and complexity.

Does Taxdone.co.uk have hidden fees or lengthy contracts?

No, Taxdone.co.uk explicitly states they do not have hidden fees or lengthy contracts that tie clients in forever, suggesting a transparent and flexible pricing model.

Are the accountants at Taxdone.co.uk UK qualified?

Yes, Taxdone.co.uk states that all work is done by their in-house UK qualified staff.

How does Taxdone.co.uk use automation?

Taxdone.co.uk works closely with clients to minimize manual work through automation, allowing both parties to focus on more strategic tasks and business growth. Smeguk.com Reviews

Can I get a dedicated accountant with Taxdone.co.uk?

Yes, throughout your working relationship, you will always have access to your dedicated accountant.

What accounting software does Taxdone.co.uk use?

Taxdone.co.uk specifically mentions setting up clients on Xero, a popular cloud-based accounting software.

How quickly can I get set up with Taxdone.co.uk?

Once you decide to sign up, the setup process can usually be completed within a week, unless you are changing accountants, which may take longer for handover.

Does Taxdone.co.uk offer tax advice for businesses?

Yes, based on their service descriptions and blog articles, they provide advice on topics like business expenses, VAT rates, and budget breakdowns.

What kind of businesses do they typically work with?

They work with various types of businesses, from sole traders and small startups to larger SMEs, across sectors like creative, e-commerce, professional services, and tech.

Is Taxdone.co.uk suitable for very small businesses or side hustles?

Yes, they mention helping those who “just started a side hustle selling goods on Etsy or Amazon,” indicating their suitability for smaller ventures.

How do I get a quote from Taxdone.co.uk?

You can get a quote by initiating a discovery call with them, where they will discuss your business and provide a customized service proposal.

What makes Taxdone.co.uk different from other accountants?

They emphasize their relatable and friendly approach, efficiency through innovation, seamless client experience, and commitment to avoiding lengthy contracts and hidden fees.

What is the primary goal of Taxdone.co.uk for its clients?

Their primary goal is to empower startups, SMEs, and entrepreneurs to achieve their dreams by providing great accounting and tax services that reduce stress and allow clients to focus on what they love. Totelabel.com Reviews

Do they help with VAT registration and returns?

Yes, their website mentions registering for taxes with HMRC and provides blog content related to VAT rates, indicating assistance with VAT matters.

How can I ensure Taxdone.co.uk’s services align with Islamic financial principles?

To ensure alignment with Islamic principles, you must explicitly discuss your need for Sharia-compliant solutions during the discovery call, particularly regarding avoiding interest riba in any financial advice or recommendations they might offer.

It’s crucial to actively steer conversations towards halal alternatives for financing, investments, and any debt-related matters.