GMS Business Accountants

GMS Business Accountants Hi, I'm Graham Wesson, the face behind GMS Business Accountants Ltd & I'm not your typical accountant.

Talk to me to discover how my personable approach is helping my clients with their personal and business accounts. Hi, I'm Graham Wesson, the face behind GMS Business Accountants Ltd. Starting my career in my 30s, I quickly found my passion in accounting and became CIMA qualified in just two years. With experience spanning from purchase ledger clerk to Finance Director, I now specialise in helping

small businesses and sole traders. My clients appreciate my ability to simplify complex financial issues and my dedication to making their lives easier. When I'm not crunching numbers for my clients, you'll find me cycling, playing squash, or spending quality time with my two children. Based in Cambridge, I'm here to offer you a friendly, personal, and professional accounting service. Reach out to me to book a meeting to see how we can work together.

A lot of accountancy is not just about numbers.It is about communication.Most clients do not want jargon. They do not wa...
17/06/2026

A lot of accountancy is not just about numbers.

It is about communication.

Most clients do not want jargon. They do not want something made more complicated than it needs to be.

They want to know where they stand.

They want to know what they owe, what deadlines are coming up, what needs doing, and whether there is anything they should be thinking about.

That is one of the parts of accountancy I enjoy.

I like taking something that might feel messy, stressful or unclear, and making it more straightforward.

Sometimes that is tax. Sometimes it is VAT. Sometimes it is payroll. Sometimes it is bookkeeping, accounts, or simply explaining what is happening in a business.

No two clients are exactly the same, and that variety keeps the job interesting.

I also appreciate when clients are happy with the work I have done. That does mean a lot.

This blog is a more personal one from me. It explains how I got into accountancy, what I enjoy about it, and why work-life balance has become such an important part of why I do what I do.

You can read it here:

https://gms-accountants.co.uk/blog/why-i-do-what-i-do-graham-wesson/

Why do I do what I do?It is not because I had a lifelong dream of becoming an accountant.I did not really know what I wa...
16/06/2026

Why do I do what I do?

It is not because I had a lifelong dream of becoming an accountant.

I did not really know what I wanted to do when I started working. I began in sales analysis, then moved into sales, which I quickly realised I was awful at.

Accountancy came later.

When my first child was born, I wanted a career that gave me more flexibility. Something that could work around where I lived and how I wanted life to look.

As I got further into accountancy, I realised I enjoyed it. I liked the variety, the problem-solving, and the process improvement side of it.

For around 10 years, I worked for different organisations, mainly businesses around the £10 million turnover mark. I started at the bottom and worked my way up.

The parts I enjoyed most were fixing issues and making processes more efficient. Removing unnecessary work. Making things clearer. Making things work better.

That has carried through into GMS Accountants.

Clients often value communication, quick completion of work, and having someone down to earth who talks their language.

That is the type of accountant I try to be.

I have written more about this in my latest blog:

https://gms-accountants.co.uk/blog/why-i-do-what-i-do-graham-wesson/

I have written a slightly different blog this time.Most of my blogs are about tax, accounts, deadlines, VAT, payroll, Se...
15/06/2026

I have written a slightly different blog this time.

Most of my blogs are about tax, accounts, deadlines, VAT, payroll, Self Assessment, or things clients need to be aware of.

This one is different.

It is about why I do what I do.

I did not grow up knowing I wanted to be an accountant. I started in sales analysis, then moved into sales when I moved to London, and quickly realised sales was not the right fit for me.

I moved into accountancy when my first child was born, because I wanted a career with more flexibility in terms of where I lived and how I worked.

Over time, I realised I actually enjoyed it.

What I enjoy most is the variety. No two clients are exactly the same. Different businesses have different problems, questions and ways of working.

I also enjoy solving problems. Sometimes that means a technical tax issue. Sometimes it is just helping someone understand what they need to do next.

But now I am in my 40s, work-life balance has become one of the biggest reasons I do this.

Running my own business gives me flexibility, control over my time, and the ability to work in a way that fits around life, not the other way around.

That matters to me.

You can read the blog here:

https://gms-accountants.co.uk/blog/why-i-do-what-i-do-graham-wesson/

A lot of limited company directors see year end accounts as something that only needs doing because Companies House and ...
12/06/2026

A lot of limited company directors see year end accounts as something that only needs doing because Companies House and HMRC require it.

That is part of it, but it is not the whole story.

Your accounts can tell you a lot about the business.

They show whether the company has made a profit, what tax may be due, what the company owes, what it is owed, and whether the figures support dividends taken during the year.

That is why getting the accounts prepared earlier can be so helpful.

It gives you time to plan properly.

If Corporation Tax is higher than expected, you have more time to prepare for the payment.

If dividends need reviewing, you can deal with that before it becomes a bigger issue.

If the director’s loan account is overdrawn, you have more time to understand the position and decide what to do.

If records are missing or bookkeeping needs tidying, there is less pressure and more chance of getting the figures right.

It can also be useful if you are applying for finance, dealing with a bank, or needing accounts for a mortgage application.

The key point is this:

Getting your accounts done early does not mean paying tax early.

It means you know what is coming.

For most directors, that is far better than finding out close to the deadline and having to rush.

Read the blog on the benefits of preparing limited company year end accounts earlier:

gms-accountants.co.uk/blog/limited-company-year-end-accounts-why-getting-them-done-early-makes-sense/

There is a big difference between filing accounts on time and using accounts properly.A limited company can file its acc...
11/06/2026

There is a big difference between filing accounts on time and using accounts properly.

A limited company can file its accounts before the deadline and still miss the opportunity to use those figures for planning.

Year end accounts can help directors understand:

How profitable the company has been
How much Corporation Tax may be due
Whether dividends are affordable and lawful
Whether the director’s loan account needs attention
Whether the company has enough cash to cover future tax
Whether the bookkeeping is accurate and complete

The earlier this information is available, the more useful it becomes.

If the accounts are prepared shortly after the year end, there is time to review the results, ask questions, tidy up records and plan for the tax bill.

If they are prepared close to the deadline, the focus often becomes simply getting them filed.

For small limited companies, this matters.

Dividends, director’s loans and tax planning all rely on knowing the company’s profit position. Without up-to-date accounts, directors can easily take money out of the business without a clear view of the tax or accounting consequences.

Early accounts can also help with banks, lenders and mortgage brokers, who may ask for the latest company figures.

Preparing accounts early does not mean paying tax before it is due. It means having time to make informed decisions.

Read more here:

gms-accountants.co.uk/blog/limited-company-year-end-accounts-why-getting-them-done-early-makes-sense/

Many limited company directors wait until the accounts deadline is approaching before thinking about year end accounts.I...
10/06/2026

Many limited company directors wait until the accounts deadline is approaching before thinking about year end accounts.

It is understandable. Running a business is busy, and accounts can feel like something that only needs doing when Companies House or HMRC require it.

But leaving the accounts until the last minute can create problems.

There may be missing receipts, bookkeeping queries, old balances that need checking, VAT coding errors, or director’s loan account movements that need reviewing.

When these are found close to the deadline, there is less time to sort them properly.

Preparing the accounts earlier gives everyone more breathing space.

It also gives directors clearer information while it is still useful. You can see the company profit, estimate the Corporation Tax, review dividends, and plan cash flow for the months ahead.

The accounts help show whether amounts taken from the company are covered by salary, dividends, expenses, or whether they have gone to the director’s loan account.

Early accounts also mean fewer surprises.

You do not have to pay Corporation Tax early just because the accounts are prepared early. You simply know what is due and when it needs to be paid.

That makes planning much easier.

Year end accounts should help you understand the business and make better decisions.

Read the blog here:

gms-accountants.co.uk/blog/limited-company-year-end-accounts-why-getting-them-done-early-makes-sense/

If you run a limited company, your year end accounts are not just something to file at Companies House.They are a useful...
09/06/2026

If you run a limited company, your year end accounts are not just something to file at Companies House.

They are a useful snapshot of how the business is really doing.

They show the profit for the year, the assets and liabilities of the company, the Corporation Tax position, and whether there are any areas that need attention.

One of the main benefits of preparing accounts early is knowing the Corporation Tax bill in good time.

The tax is usually due before the Corporation Tax return filing deadline, which can catch directors out. Preparing the accounts early gives the business more time to plan for the payment rather than finding out close to the deadline.

It also helps with dividend planning.

Dividends should only be paid from available company profits. If accounts are delayed, it can be harder to know whether dividends taken during the year are properly covered.

The same applies to director’s loan accounts. If a director has taken more from the company than has been covered by salary, dividends, expenses or repayments, there may be an overdrawn loan account to deal with.

Finding this out early gives you more time to review the options.

Accounts prepared early are also useful if you need business finance, a mortgage, or clearer figures to make decisions for the next year.

The real benefit is knowing where the company stands.

Read more here:

gms-accountants.co.uk/blog/limited-company-year-end-accounts-why-getting-them-done-early-makes-sense/

Limited company year end accounts are one of those jobs that are easy to put off.The deadline can feel a long way away, ...
08/06/2026

Limited company year end accounts are one of those jobs that are easy to put off.

The deadline can feel a long way away, especially when you are busy running the business, dealing with customers, suppliers and staff and everything else that comes with the role.

But getting your accounts and Corporation Tax return prepared earlier can make a real difference.

It does not mean paying your Corporation Tax earlier. It simply means you know what the company has made, what tax is likely to be due, and whether there are any issues that need sorting.

Early accounts can help you:

Understand your profit
Plan for Corporation Tax
Check whether dividends are covered
Review the director’s loan account
Spot missing receipts or bookkeeping issues
Prepare for finance or mortgage applications
Avoid a stressful rush near the deadline

For owner-managed limited companies, this can be especially useful. If money has been taken from the company during the year, the accounts help confirm how this should be treated and whether there are any tax consequences.

Leaving everything until the last minute often means less time to plan and more pressure to get information together quickly.

Getting the accounts done earlier gives you better information and fewer surprises.

I have written a blog explaining why limited company year end accounts and tax returns should not be left until the deadline:

gms-accountants.co.uk/blog/limited-company-year-end-accounts-why-getting-them-done-early-makes-sense/

Are your Self Assessment payments on account still right?If HMRC has asked you to make a payment on account by 31 July, ...
05/06/2026

Are your Self Assessment payments on account still right?

If HMRC has asked you to make a payment on account by 31 July, it is worth checking whether the amount still reflects your current position.

Payments on account are usually based on the previous year’s tax bill. This means they can be too high or too low depending on what has changed.

You may need to review them if:

Your business profits have reduced.

Your rental income has changed.

You have taken lower dividends.

Your tax reliefs have increased.

More tax has been deducted at source.

In some cases, payments on account can be reduced. However, this should be done carefully and based on a reasonable estimate. If they are reduced too much, HMRC can charge interest when the final tax bill is calculated.

The 31 July deadline is a useful reminder to check your figures and avoid surprises.

Tax planning should not be something that only happens in January. Reviewing things earlier gives you time to understand the position and manage cash flow properly.

Need help reviewing your Self Assessment position?

GMS Accountants
https://gms-accountants.co.uk/blog/what-are-payments-on-account/

There is a big benefit to completing your Self Assessment tax return early.It is not just about avoiding the January rus...
04/06/2026

There is a big benefit to completing your Self Assessment tax return early.

It is not just about avoiding the January rush. It also helps you understand whether your payments on account are likely to be correct.

The 2025/26 tax year ended on 5 April 2026, so you do not need to wait until January 2027 to know what your tax position looks like.

If you make payments on account, your second payment is usually due by 31 July. But because payments on account are normally based on last year’s tax bill, they may not match your current income.

If your income has gone down, you may be paying more than necessary unless the payments are reviewed.

If your income has gone up, you may need to plan ahead for a balancing payment in January.

Either way, early preparation gives you better information and more control.

Leaving everything until January can make tax feel more stressful than it needs to be. Reviewing the numbers earlier allows time to budget, adjust, and make informed decisions.

GMS Accountants can help review your Self Assessment position before the deadline becomes urgent.

https://gms-accountants.co.uk/blog/what-are-payments-on-account/

Address

4 Cheere Way, Papworth, Cambridgeshire,23 3NZ
Cambridge
CB

Opening Hours

Monday 8am - 5:30pm
Tuesday 8am - 5:30pm
Wednesday 8am - 5:30pm
Thursday 8am - 5:30pm
Friday 8am - 5:30pm

Telephone

+447739828423

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