Global Accountancy Practice
Call us at 0141 423 4555
About Us
Global Accountancy Practice

Global Accountancy Practice is a UK local accountancy firm run by Mr. Nasir. We’ve been in Accountancy Practice since 2006 and we help Companies, Sole Traders & Partnership both Medium and small Businesses.

We work closely with our clients and act for a broad range of business and personal clients.

Our strengths are technical as well as dedicated customer service and support. We build on personal relationships so you can trust and rely on us as your advisors.

Apart from the more general accountancy services we can also assist you with business development and specialist tax services.

Our philosophy is always to do our utmost to...

  • Provide friendly, courteous and efficient service.
  • Always exceed your expectations.
  • Listen to what YOU are saying.
  • Communicate with you quickly and fully.
  • Never surprise you with bills you're not expecting.
  • Be honest, truthful and upfront with you at all times.
  • Aim for you to pay the least amount of tax payable within the law.
  • Provide pro-active business advice wherever possible.

We appreciate that only in time can we gain your trust, so that you know when we say we can and will do something, we do it.

Our Services

Our focus is on outstanding client service within a friendly environment. We are often seeking high quality team members in the following areas...

  • Accounts
  • Taxation
  • Business development
  • Administration
  • Anyone who makes a great cup of coffee!

To be considered for a position, please send your CV to us.

If you are interested in either of the above positions please send your CV along with salary requirements to our Glasgow Office or alternatively email it to us at

Our Skills
  • Business Start-Ups Advise
  • Bookkeeping
  • Year End Accounts
  • Annual Statutory Accounts
  • Annual Abbreviated Accounts
  • Quarterly and Annual Management Accounts
  • Sole Trader Accounts
  • Partnership Accounts
  • CIS Subcontractors Accounts
  • Rental Property Accounts
  • Self-Assessments
  • Company Annual Returns
  • Company Corporation Tax Returns
  • Cash Flows Management
  • VAT Returns
  • PAYE (RTI)
  • Short Tenancy Lease Agreements
  • Forecasting and Planning
  • Tax Investigations
  • Business Plan

 We also provide Bookkeeping services at customer place with very competitive Price.


Q. Am I best setting up my business as a sole trader (or partnership) or a limited Company?


When making this decision there are considerations other than financial to take into account.

From a financial viewpoint there are no simple answers, but in general the more profit you make the more tax you will pay and operating as a limited company gives you more options to reduce your tax liability than are open to you as a sole trader or partnership.

However, there is more regulation involved with running a limited company such as filing Accounts and Returns with Companies House and filing Corporation Tax Returns with HMRC– leading to extra costs – and these costs need to be factored in when considering what Tax and NI savings that can be achieved.

Limited liability does offer some protection from losing your personal assets, although it is possible for company directors to be pursued personally through the courts in some circumstances, but in practice you are less exposed to losing your personal wealth than a sole trader (or partnership).

A limited company can often appear to be a larger business than it really is and thus potentially attracting bigger customers.

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Q. Is filing a Self Assessment Tax Return a legal requirement?


If you are self employed, a partner or a company director then you are required by law to file a SATR every year to avoid fines of up to £1,600 or more.

You also must file a SATR if you have any income that has not been taxed at source.
e.g. Rent Received from Rented Property, Overseas Property, and if you are a higher rate tax payer receiving company benefits e.g. company car, fuel benefit and/or investment income.

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Q.Which records do I need to keep?


Businesses must keep all their financial records for a period of six years.

The better the records you keep, the more your Accountant can do for you to identify opportunities to save money.

Accurate and complete records ease the task of Preparing Accounts and Tax Returns and will ultimately save you money!
Having said that, don’t worry if you do make mistakes or lose stuff – we can usually sort it out!

Here are some of the most common problems we find with record keeping:

Missing bank statements.

Leaving cheque book stubs blank or with unclear descriptions.

Not providing the detail on the paying in book of who/where money paid into your business bank account came from.

Missing direct debits/regular monthly payments from records.

Lost paperwork e.g. Sales and Purchase Invoices. 


We will chat through the options with you and recommend the most appropriate method of bookkeeping for your business depending on your skills and preferences.

The important thing is that you understand what you are doing and we will do the rest.
You can use ‘Simplex D' type books, simple through to more sophisticated Spreadsheets depending on your preference, and where appropriate Sage software or internet accounting systems.

We have expert knowledge in many of the systems on the market and will help you keep your records accurately and up to date.

Accurate records really do help you or us to keep track of your finances and mean better quality Accounting information on which to manage your business

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Q.Which business expenses can I claim?


Allowable business expenses are those that are incurred 'wholly and exclusively' in the course of running your business.
The list below (although not exhaustive) indicates many of the normal expenses incurred by businesses:

  • Cost of goods bought for resale and materials purchased are allowed.
  • Construction Industry Subcontractor payments are too.
  • Salaries and Wages for staff are allowed but drawings for sole traders are not allowed.
  • Employers' National Insurance contributions can be claimed but sole traders can not claim for their own tax and national insurance payments.
  • Use of your car or van. A flat rate of 45pence per mile for the first 10,000 miles p.a. can be claimed. Simply keep a log of your business mileage.
  • Alternatively, actual car costs (including fuel, tax, insurance and maintenance) when used for business purposes can be claimed and should be apportioned if the vehicle is used partly for business and partly for private use.
  • All business premises costs such as heating, lighting, rent, rates, telephone, postage, advertising, insurance, special uniforms or protective clothing and repairs, are allowed.
  • If you are running your business from home, you can claim for part of the expenses associated with this. For more details Contact Dave Armstrong.
  • Packing, postage and delivery costs are allowable.
  • Printing, stationery, marketing and advertising are allowable.
  • Travel, accommodation and subsistence expenses for trips or visits to undertake work are allowable.
  • Entertaining of staff including an annual event to the value of £150 per head (subject to conditions) is allowable.
  • But entertaining customers or suppliers is not allowed.
  • Loan or overdraft interest, hire purchase interest along with arrangement fees and the costs of renting equipment are all allowable.
  • Business insurance is allowable.
  • Mortgage interest is allowable if it has been taken out to buy property for business use.
  • Legal costs, bank charges and professional fees incurred in the course of your business are allowed.
  • Professional subscriptions to business related organisations and journals are allowable.



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Q.Is Income from a Rental Property I own taxable?


Any Profit you make on your Rental Property is Taxable and again you must file a SATR every year to avoid fines of up to £1,600 or more.

In arriving at your Rental Profit there are a number of expenses you can set against any Rental Income you receive.

For Example you can deduct the mortgage interest you have paid during the tax year.

Other allowable expenses where paid by you include insurance, council tax, water rates, ground rents, cleaning, agent’s fees, property management fees, travel to and from the property etc.

If the Rental Property is furnished, you can also deduct 10% of the rent received to allow for wear and tear.

Expenses incurred on repairs (but not capital enhancements or improvements) are also allowable.

Depending on the level of expenses you incur the Rental Profit and therefore the resulting tax bill can be minimised, especially with the right advice so Contact Dave Armstrong now.

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Q.How do I pay myself from my limited company?


As a director of a limited company, you will usually receive a Salary which is subject to Tax and NI deductions under the PAYE scheme and you may also receive a Dividend.
There are usually tax benefits to paying yourself a combination of salary and dividend and getting it right can result in significant savings, but this is a complex area and we strongly recommend you take professional advice to discuss the various options.  Contact us now.

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Q.Do I need to be VAT registered?


In general terms you are not required to be VAT Registered until your business Turnover exceeds the VAT Registration Threshold which is £81,000 per year from 1st April 2014.

However, as soon as this threshold is reached it is very important to register within a month in order to avoid fines and penalties for late registration.

There are special rules for claiming VAT on purchases of goods and services prior to commencement of trade if applicable.

VAT is a complex subject, so Contact us and we can advise on all aspects of VAT.

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Our focus is on outstanding client service within a friendly environment. We are often seeking high quality team members in the following areas...

  • Accounts
  • Taxation
  • Business development
  • Administration
  • Anyone who makes a great cup of coffee!

To be considered for a position, please send your CV to us.

If you are interested in either of the above positions please send your CV along with salary requirements to our Glasgow Office or alternatively email it to us at

  • Global Accountancy Practice
  • Head Office: 10 Allison Street,
    G42 8NN,
    Govanhill Glasgow UK.
  • 0141 423 4555
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