Don’t hope for balance, create it.

A team of friendly accountants in Leicester helping you get off the hamster wheel so you can run a successful business without missing out on the important things in life.

Who we help

As a leading accounting firm in Leicester, we are here to support family-oriented business owners, wanting to make enough to support their families and live the life they want. We specialise in helping limited companies or sole traders looking to become limited companies, our Leicester-based accountancy firm welcomes anyone looking to secure their financial future.

ABOUT US

The complexities of accounting and financial planning

You’re carrying the weight of the world on your shoulders and working really hard to provide for everyone, and feel like life is passing you by. The never-ending pull between priorities is exhausting and can be a fast track to burnout.

 

It often takes a big shake-up in life to force us to make a change. We aim to help our clients avoid the wake-up call by spending time on what’s most important for them now.


We are Chartered Accountants and Tax Advisers in Leicester, trust us to guide you to achieving your dreams.

HOW WE WORK

Our values

Our values are at the heart of everything we do. They're not just words on a page—they're what make us tick.
They form the foundation of our culture and drive our daily actions – from the way we act, the decisions we make and how we work with and treat others.

Be present
Change lives
Own it
Ambitiously dedicated
Be memorable

“My mission is to help young families like mine to run successful businesses without compromising their families and their lives”

Shafiq H. Khan FCA CTA, Director of Bloom Accounting

Free up your time - we'll handle your accounting

We believe a business should be the vehicle that gives you what you want from life, rather than taking precious time away from you. We look at your life motivations and get clear on what your business needs to be doing for you.

 

Start by offloading the bookkeeping and accounting tasks to our skilled accountants in Leicesterso you can plan for the balance you want.


Our bookkeeping services in Leicester are tailored to free up your time, allowing you to focus on what matters most.

HOW WE WORK
Quotation marks

Shafiq at Bloom Accounting has been doing my accounts and book keeping for almost five years, and has just recently started to organise our pay roll. All of this at a very reasonable cost.
They are very professional and really easy to get hold of, which makes running my business much easier when I need some advice. I would definitely recommend Bloom to others as the level of service and attention to detail is of the highest standard.

Dean Kassie

Director, DK Electrical

Latest blog articles

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by Shafiq Khan 12 June 2025
Understand directors’ loans and DLAs, tax rules, and how to manage repayments and records. Get expert help from Bloom Accounting in Leicester
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by Shafiq Khan 7 April 2025
Filing your limited company's Confirmation Statement? Our factual guide covers deadlines, costs, and requirements in simple, easy-to-follow steps.
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by Shafiq Khan 28 January 2025
If you’re thinking of making the switch from sole trader to a limited company then follow these 'simple' steps from our expert limited company accounting team to guarantee a smooth changeover. 1. Choose Your Company Name Choose a unique name for your limited company. Check that it isn’t already registered with Companies House to avoid any issues. The rules are different compared to that of a sole trader — you cannot have the same name as another limited company. 2. Register Your Limited Company You can register your limited company online through Companies House or with the help of an accountant. It is a straight forward process with most applications approved by Companies House within 24 hours. During registration, you will need: A registered office address (A registered office is a legal requirement for any UK limited company) at least one Standard Industrial Classification (SIC) code to describe the company’s main business activity. at least one director and one shareholder details of every person with significant control (PSC) articles of association (All UK limited companies require articles of association. The articles set out the rules for running the company, which must be abided by company directors at all times). 3. Set Up a Business Bank Account Open a separate business bank account for your limited company. This ensures that your business finances are kept distinct from your personal finances. As the money belongs to the company and not the directors, limited companies should have separate accounts in the company name. Even if your previous sole trader and limited company have the same business name, it is crucial that a new separate bank account is created in the company name, failure to do so could lead to nasty tax implications. 4. Inform HMRC Notify HMRC : Contact HMRC by calling their Self-Assessment helpline at 0300 200 3310 or send a letter. Inform them that you are no longer operating as a sole trader. File Your Final Self-Assessment Return : Submit the final self-assessment tax return for your sole trader business, marking it as the last year of trading. It is important to note that as a director of a limited company it is rather likely that you will be receiving salary and dividends from the limited company, therefore this would need to be reported on future self assessment tax returns and therefore you should not close down your self assessment account with HMRC when ceasing the sole trader business Register for Corporation Tax : After registering your limited company, HMRC will automatically register the company for Corporation Tax. 5. Register for Other Taxes As mentioned above, there is a strong likelihood that salaries will be paid from the limited company, therefore the company will need to register as an employer and set up PAYE. There may also be a need to register the company for VAT or transfer the existing VAT registration from the sole trader. 6. Transfer Assets and Liabilities Depending on your sole trader business, you may need to transfer assets such as, property, machinery, equipment, stock etc.) from your sole trader business to your limited company. Determine how to handle any outstanding debts, ensuring the transition is seamless. It is worth mentioning that transferring assets on incoporation can be a complicated process for some businesses and can have Capital Gains Tax (CGT) implications. We advise speaking to an expert accountant to avoid any costly issues. 7. Notify Your Customers and Suppliers Update your clients and suppliers about your change in business structure. Make sure to revise your invoices, contracts, and payment details to reflect your new company name and structure. 8. Update Your Insurance Review and update your business insurance policies to reflect your new limited company status. This may involve changing liability coverage or adjusting terms for employees. 9. Maintain Proper Accounting and Records Set up an accounting system that complies with company tax regulations. Keep detailed and accurate records to ensure you meet all legal obligations and file taxes on time. By following these steps, you can make a smooth transition from sole trader to limited company in the UK. If you want a reliable and expert accountant to assist you in this process, then get in touch with Bloom Accountants, we have decades of experience and specialise in limited company accounting, and can help you move from Sole Trader to Limited Company with ease.

Start now

Take the first steps. Tell us what balance looks like to you so we can start freeing up your time.

GET STARTED