Accountants for

hairdressers and beauty salons

Accountancy support for health & beauty businesses

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Accountants for Hairdressers and Beauty Salons

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 2
Assisting your beauty business

Assisting your beauty businesses

Salon owners have to think on their feet following the recent economic downturn, which has 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 focuses explicitly on helping hair salons and barbers with their accounting and tax needs. So, whether you need assistance in preparing 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 priced around the needs of your salon or barbershop.

Why choose us?

We provide a very high-level service to our clients is at the heart of everything we do. You will have one point of contact who will understand your business and work closely with you on your accounting needs.

Our client managers are all certified by Xero, Quickbooks, and FreeAgent. So you are in excellent hands.

As registered and regulated by the Institute of Chartered Accountants in England & Wales (ICAEW) and the Association of Taxation Technicians (ATT), our qualified and committed staff offer professional business guidance.

You will never receive surprise bills from us. All our competitive monthly fees have a fixed price with no hidden costs.

We love bringing clients the latest technology and apps to streamline processes, improve cash flow & become more efficient through automation.

We are always looking to improve our accountancy service to boost your financials. This includes Cash flow forecasting software, legal services & Contractor insurance.
Why choose us barbers

Why our clients
love us

EPOS systems for small businesses

We understand your industry very well and the actual demands of 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 is to suggest automating some of your accounting processes using a point of sale (EPOS) system, so you can focus on driving your beauty business forward.

  • We can provide you with software that will collect and automatically store your receipts for smaller salons and renters so you don’t have to worry about losing critical financial documents.
  • 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 speeds 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 salon more effectively and improving your customers’ experience with you.

EPOS systems for small business 2
Fusion Accountants Partners 2 New

Our accounting software partners

Xero, Freeagent and Quickbooks are online accounting platforms that allow you to deal with your beauty business finances on the go. It brings together your real-time bank transactions, inventory, invoicing and expenses in a straightforward dashboard, easily accessible wherever you are.

Saving you time, hassle and money, and everything you can see, we can also see at the same time – putting us in the perfect position to advise you on your financial situation.

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Need to speak to a specialist beauty business accountant?

Meet our client specialist

Rima Abou

Rima Abou

Client accountant

“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 value-add account reporting that is aimed to provide the business with the tool to make key decisions.

I will be able to help you with the following:
  • Historical trading
  • Forecasts, cashflow & financial health
  • Key performance indicators
  • Cost analysis
  • Management accounting service

“Outside work, I enjoy cooking international dishes, spending quality time with my husband and three children.”

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We always recommend you assess the costs of opening a salon, which can range anywhere from £3,000 to £50,000, but this will vary depending on your location and costs for hiring staff, rent or business rates, marketing and buying products and equipment.

We have put together this short list as it can be pretty extensive and wide-reaching. As your accountant, we can talk you through how to maximise the amount of tax you can claim for your business. Items you can claim include shampoo, mousse, dyes, and colours. All consumable stock includes 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 customer tips given at his or her discretion.

As a barber providing a service to the public, who cannot reclaim any VAT charged, there is probably no need to register voluntarily for VAT. However, 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 barbershop. If you are not sure, please talk to us.

Barbers and beauticians are generally independent contractors, so you don't need a special license to be an independent contractor for tax purposes. Though you are self-employed, you will have to pay your self-assessment taxes each year. Please talk to us if you are unsure what you can claim or need to declare.

There are plenty of EPOS providers to choose from, to name a few: Epos Now, First Data, Lightspeed, iZettle EPOS, TouchBistro, and iiko.

Two main ways renting a chair in a hair salon can work. The first is that the salon owner and hairdresser agree on a fixed monthly payment. This could be in exchange for unlimited use of the chair or be worked out at a daily rate. The second is to agree on a split of your business income. This could be a simple 60/40 division or complicated by a minimum or maximum charge. These additions can help offer each party the right balance of risk and reward.

As a junior barber, your earning can be approximately £40-£60 per day in salary and £20 in tips after completing your training. If you work six days a week for 50 weeks of the year, this will equal £18,000 to £24,000. Over time and gaining experience, a pro barber can earn as much as £1,000 per week or £50k per year. (Source: London School of Barbering).

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