Professional Services

Clear accounting support for professional service businesses

At Penney’s Accountancy, we support professional service businesses with accounting and business advice tailored to fee based work, recurring clients, and long term planning.

Understanding the challenges of professional service businesses

Professional service businesses rely on expertise, reputation, and consistent delivery. While income may appear stable, managing fees, costs, and cash flow alongside compliance can still present challenges.

Common challenges we help with include:

Managing fee based income and retainers
Monitoring profitability across clients or projects
Payroll and drawings for owners and staff
VAT considerations on services
Keeping records accurate while focusing on client work
Planning for growth and capacity

Our role is to reduce this pressure and give you clear financial oversight.

Professional services accounting

How we support professional service businesses

Professional service firms often benefit from joined up accounting support that provides clarity and consistency. We tailor our services to suit how your business operates, whether you work alone, as a partnership, or as a growing limited company.

Our clients commonly rely on us for bookkeeping, payroll, VAT accounting, and year end reporting. Many also use management accounts, cash flow forecasting, and advisory support to help track performance, plan growth, and make informed decisions.

Why professional service businesses choose us

Professional service clients choose Penney’s Accountancy because we understand the importance of accuracy, confidentiality, and clear communication. We respond promptly, explain figures clearly, and take responsibility for deadlines and compliance.

Clients value having reliable financial oversight, allowing them to focus on delivering high quality services to their clients without unnecessary distraction.

Who we work with

We work with a wide range of professional service businesses, including consultants, advisers, designers, and specialists across many sectors. Our clients range from sole practitioners to established firms with growing teams.

Whether you are building a client base or scaling an established practice, we adapt our support to suit your business and continue to support you as it develops.

Our services for professional services

Bookkeeping for professional services

Keeping fee income, expenses, and records accurate and organised.

Payroll and staff payments

Managing wages, PAYE, and reporting for teams and directors.

VAT accounting and returns

Ensuring VAT is applied correctly and submitted on time.

Cash flow forecasting

Helping you plan ahead and manage predictable and variable income.

Management accounts

Providing regular insight into profitability and performance.

Company accounts and Self Assessment

Ensuring compliance and clear reporting for business owners.

Get Support When You Need It

Book your consultation and take the first step toward making running your business easier.