Hairdressers, barbershops and beauty salons form the focal point of any high street or local community and play an essential part in everyday life and the UK’s economy.
As a barber, hairdresser or male grooming specialist running your salon or chain of businesses means you must continually assess your business model and the direction you want to move in. You are focusing on developing your business and your profitable products and services and should not have to worry about your accounts or tax responsibilities.
Assisting your beauty business
Salon owners are having to think on their feet following the recent economic downturn and this is having a real impact on incomes. This means that the beauty sector is facing tighter margins than ever before.
We have a team you can call upon that specifically focuses on helping hair salons and barbers with their accounting and tax needs. So, whether you need assistance in the preparation of your year-end accounts, setting up a PAYE scheme, succession planning or wanting tax advice specific to the hairdressing and beauty industry (Income tax, VAT, Corporation Tax or Capital Gains Tax), we can help.
We can offer you sound and cost-effective advice at a fixed monthly cost which is priced around the needs of your salon or barbershop.
We provide comprehensive range of accounting and tax services with 100% SATISFACTION GAURANTEED
Whether you are a mobile or self-employed beauty therapist, a male grooming specialist, or have a beauty business on the high street, we have a solution that will help you get where you want to be. You have so many competing demands on your time that it is difficult to keep up with the admin. Our specialist team works with many salons and professionals and we know that every business will have different requirements and we tailor our services to suit your situation. As your business changes and grows, we can mould our service around your needs, meaning that you have the support and backup you need, when you need it.
Providing too service to our clients is at the heart of Fusion accountants work ethos. Hence, one point of contact, who understands your business and can work with you closely and efficiently.
To ensure that you get efficient and accurate service first time every time, we make sure all our client managers are adequately qualified and accredited by our accounting software providers, such as Xero, Quickbooks and FreeAgent. So you can rest assured you are in good hands,
ICAEW & ATT registered
We are no cowboys, as a registered firm and registered and regulated by the Institute of Chartered Accountants on England and Wales ICAEW) and the Association of Taxation Technicians (ATT), you can be assured that you are in good hands.
Unlike other accountants, you wont get surprise bills with us, we offer all inclusive competitive monthly fixed fees. We believe in simplicity, transparency when communicating with our client.
We love technology, wether its adapting new technology ourselves to bring you top notch service or advising you in running your business more efficiently through automation
Value add service
We dont see ourselves as just number crunchers, there are software to do just that. we believe in valu added service, wether tahts in Tax planning, business advisory or just helping you better understand your financials
EPOS systems for small business
We understand your industry very well and the real demands this can have on your time. We are committed to helping you understand your finances and will offer you all the support you need. One of the ways we do this suggests automating some of your accounting processes using a point of sale (EPOS) system, so you can focus on driving your business forward.
For smaller salons and renters, we can provide you with software that will collect and automatically store your receipts, so you don’t have to worry about losing an important piece of paper.
For larger chains, we can integrate your cash register and EPOS system with your accounting software so that you can accurately and immediately report your sales data.
Using an EPOS system speed up key business processes like accounting, stock management and sales performance. They will capture transactional data and generate reports on your sales and products helping you manage your business more effectively and improve your customers’ experience with you.
This is where we believe we can really add value with a choice of our recommended online software – Xero, Freeagent and QuickBooks - to help make your life as a barber or hairdresser much easier so you can keep on top of your accounting records getting the best out of your business whilst providing the best customer service to your clients.
If you are new to using any accounting software package, we are on hand to provide free set up and offer any training as well.
Send invoices, check stock levels, streamline workflows, record expenses and get a real-time view of your accounts to see how much tax you owe.
Get In touch
We provide cost-effective accounting and tax advice custom made for the hairdressing and beauty sector.
"Hi there, I am a Client Accountant here at Fusion Accountants handling a portfolio of small to medium size entities across a range of industries including, Hospitality, IT consultancy , Manufacturing , Construction (CIS) and E-commerce.
Working closely with my clients and understanding their business is key when it comes to delivering a value-add account reporting that is aimed to provide the business the tool to make key decisions.
I will be able to help you with the following:
Forecasts, cashflow & financial health
Key performance indicators
Management accounting service
“Outside work, I enjoy cooking international dishes, spending quality time with my Husband and three children."
The Practical advice we offer
We always recommend you should assess the costs of opening a salon, which can range anywhere from £3,000 to £50,000. This will vary dependant on your location as well as costs for hiring staff, rent or business rates, marketing and buying products and equipment.
We have put together a short list as it can be quite extensive and wide reaching. As your accountant we can talk you how you can maximise the amount of tax you can claim for your business. Items you can claim on include shampoo, mousse, dyes, and colours. All consumable stock including towels, gowns and brushes and costs associated with business travel doing home visits to clients.
Beauty salon services and retail sales have the standard rate of VAT added to the selling price. However, no VAT is due on any tip that a customer gives you or your staff at his or her own discretion.
As a barber provides a service to the public, who cannot reclaim any VAT charged, there is probably no need to register voluntarily for VAT. If the business accounts show there is no option but to register for VAT, some changes will need to be made in the day-to-day running of the barber shop. If you are not sure, please talk to us.
Barbers and beauticians are generally independent contractors, so for tax purposes, you don't need a special license to be an independent contractor. Though as you are self-employed you will have to pay your own self-assessment taxes each year. Please talk to us if you are not sure what you can claim or need to declare.
The 6 Best EPOS Suppliers in the UK. There are plenty of EPOS providers to choose from, but of the 32 we reviewed here are the six best: Epos Now, First Data, Lightspeed, iZettle EPOS, TouchBistro, and iiko.
There are two main ways that renting a chair in a hair salon can work. The first is that the salon owner and hairdresser agree a fixed monthly payment. This could be in exchange for unlimited use of the chair or be worked out as a daily rate. The second is to agree a split of your business income. This could be a simple 60/40 division for example or could be complicated by something like a minimum or maximum charge. These kinds of additions can help to offer each party the right balance of risk and reward.
As a junior barber, after completing your training, you can expect to earn about £40-£60 per day in salary, and £20 in tips. . If you work a 6-day week and 50 weeks per year, this equates to earnings of £18,000 to £24,000. With time and experience, a pro barber can earn as much as £1000 per week or £50k per year. (Source: London School of Barbering)
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