Overview of the Digital Marketing Agencies
With digital marketing becoming the trend in the recent past, more businesses are rapidly adopting the same, which indicates a bright future for digital marketing agencies. However, if you are running a digital marketing agency, you may know well that these agencies are today facing some unique challenges that are as follows:
· Maintaining a consistent brand message
· Rise of AI-driven software
· Rising advertising costs
· Fraudulent ad clicks
Overcoming all these obstacles is not easy, especially when there is a fear of recession, but you can sail smoothly with professional help. Being an accountancy firm with years of experience catering to the diverse needs of digital marketing agencies in London and its neighborhood areas, CoreAdviz understands your problems and the solutions you are looking for.
We know that you can face all these challenges head-on if you are financially strong. Also, we are fully aware that for a digital marketing firm continually working on harnessing the power of its creative employees, focusing on balance sheets or bookkeeping is daunting. However, there is no need to worry because our skilled accountants have the expertise to handle this boring stuff!
How We Help Digital Marketing Companies
Being a reputed UK-based accountancy firm, we know it is tough to handle the figures while working with freelancers, sole traders and multiple businesses. Moreover, if you are not keeping track of your accounts payable and accounts receivable, it becomes challenging to know your accurate financial health!
We know that to sustain and grow your business, you must comply with evolving regulations and decrease tax liabilities. Again payroll management is also a big headache that often restricts you from unleashing your creativity because we know that rather than playing with numbers, you love to focus on the core aspects of your company. Our skilled accountants do everything that is holding you back from growing your business and save time and effort.
SERVICES
Our Accounting Services to Streamline Your Financial Operations!
Our accountants are successfully meeting the expectations of digital marketing firms with our tailor-made accounting services. Some of these are as follows:
·Self Assessment Tax Return
·Tax planning and compliance
·Budgeting and Forecasting
·Payroll management
·Bank reconciliation
·Cloud bookkeeping
·VAT registration
Accounting is paramount in digital marketing so that marketers can have a detailed knowledge of their income and expenses. They can therefore focus on designing campaigns that can never exceed their budget. Outsourcing accounting services also helps digital marketing firms comply with regulations and meet tax requirements without getting distracted from their creative sensibilities.
Yes, digital marketing agencies are subjected to VAT at a standard rate. The only exceptions are those doing audience targeting, content targeting, demographic targeting and so on for charities.
No, you don’t have to register for DST. It is only for those business groups that offer a social media platform, search engine or online marketplace to UK users. Again they will only pay DST if their business generates more than 500 million pounds of global revenue and more than 125 million pounds of UK revenues in a taxable year.
We do the digits you live your Lifestyle
Accounting for eCommerce package starts at £45 per month
Our Guidance on the “To do list”
As accounting consultants for an eCommerce business, we would suggest you with the following
Standard accounting procedure
The inflow of funds can be recorded when a bill is raised or the actual amount is received. Maintain a single standard throughout
Keep your invoices organized
Invoices play an important role in determining your tax liability. Keeping them organized and chronologically minimizes the changes of computation errors.
Keep your tax records handy
Tax invoices and receipts of the last 5 years are required to be preserved. In case the HMRC wants to verify data, they will ask for previous receipts.
Know your company’s status
As an entity your taxation will depend on your size. If your eCommerce is a private limited company, then its taxation policy will be different from self-employed and partnership.
