Retail and wholesale businesses move fast. Stock comes in, stock goes out, supplier invoices need paying, sales need recording, and somewhere in the middle of all of that you need to know whether you are making money. The margins in retail and wholesale are often tight and the difference between a profitable business and one that is struggling frequently comes down to how well the numbers are being tracked. We work with retailers, wholesalers and product-based businesses across the UK who need accurate, up to date accounts and a clear view of what their business is earning.
We cover all the financial and compliance work that a retail or wholesale business needs to keep its numbers accurate and its tax position in good order.
We record all your sales income across every channel shop, website, marketplace or trade account and keep everything reconciled so your accounts always reflect exactly what has come in and where it came from.
We make sure your stock is valued correctly at year end, which directly affects your profit figure and your tax liability. Incorrect stock valuation is one of the most common errors in retail accounts and one of the most straightforward to get right with the proper process in place.
We keep a clear record of all your supplier invoices and payments, so your cost of goods is always accurately recorded, supplier accounts are reconciled, and you always know what you owe and to whom.
We prepare and submit your VAT return each quarter, making sure the VAT on your purchases is reclaimed correctly and that the VAT on your sales is accounted for accurately. For businesses selling a mix of standard rated and exempt goods, we make sure the split is handled correctly.
We give you a clear breakdown of your gross and net profit margins, by product line or category if that is useful, so you can see exactly where your money is being made and where costs are eating into your returns.
We prepare your annual accounts with your stock correctly valued, all supplier and sales records reconciled, and every allowable cost claimed, then file your tax return accurately and on time.
We keep your finances accurate and up to date throughout the year, so you always have the information you need to run your business well.
Accurate accounts that reflect exactly what your business is buying, selling and earning
VAT handled correctly every quarter whether you sell standard rated, exempt or mixed goods
Stock valued correctly at year end, so your tax bill accurately reflects your actual position
A clear view of your true profit margin so pricing and buying decisions are based on real numbers
On the surface, the finances of a retail or wholesale business seem straightforward. You buy goods, you sell them for more than you paid, and the difference is your profit. In practice it is considerably more complicated. Shrinkage, returns, supplier discounts, delivery costs, storage, staff wages and the cost of holding stock all eat into that margin. VAT needs to be handled correctly on both your purchases and your sales. And if you sell across multiple channels — a physical shop, a website and perhaps a marketplace like Amazon or eBay — keeping track of it all becomes a real challenge.
We help retail and wholesale businesses understand their true margin, not just their headline sales figure. That means tracking all your costs properly, making sure your stock is valued correctly at year end, and giving you a clear picture of which products, channels or customer groups are driving your profit and which are not earning their keep.
Something we see regularly: retail and wholesale business owners who have a strong sense of their sales performance but a much hazier picture of what it is costing them to generate those sales. Once all the buying costs, overheads, staffing and VAT are factored in properly, the actual profit can look quite different from what the bank balance suggested.
Getting on top of this early means you can make better decisions about pricing, stock levels and which parts of the business to grow.
Most retail sales are straightforward from a VAT perspective but there are categories food, children’s clothing, books and certain medical products among others where VAT exemptions apply. Wholesale businesses dealing in mixed product lines need to make sure the VAT treatment on each type of goods is correct or the quarterly return will be wrong. If you sell to both VAT registered trade customers and end consumers, the accounting for each needs to be handled differently.
We make sure your VAT returns accurately reflect the nature of what you are selling and who you are selling to, so you are never overcharging on exempt goods or under-reporting on taxable ones.
Beyond core bookkeeping and VAT, this is where a specialist accountant earns their fee.
Stock and COGS reconciliation against your inventory system (Unleashed, Cin7 Core, DEAR or Zoho Inventory), with shrinkage tracking and dead-stock provisioning.
VAT margin schemes, EU reverse charge and Postponed Import VAT Accounting (PIVA) reconciliation for wholesalers importing post-Brexit.
13-week rolling cash-flow forecasts, so large stock buys and seasonal peaks never catch the overdraft by surprise.
Capital allowances on racking, forklifts and warehouse management software — often tens of thousands of pounds of AIA missed by previous accountants.
Payroll for warehouse staff and drivers, including CIS for sub-contracted drivers and holiday pay accruals.
Our wholesale packages start at £185/month for a limited company doing up to £500k turnover — year-end accounts, corporation tax, quarterly VAT, monthly bookkeeping and payroll for up to 5 staff. Larger wholesalers with multi-depot operations, weekly payroll or complex VAT typically sit in the £350–£850/month range. All fixed fee, no hourly surprises.
For most wholesalers under £5m turnover we recommend Xero + Unleashed or Xero + Cin7 Core (formerly DEAR). Above £5m, or with complex assembly or kitting, we look at NetSuite or Sage Intacct. We’re certified partners for Xero, QuickBooks and FreeAgent, so we can migrate you across at no extra cost when you sign up.
Yes. Since Brexit most of our wholesale clients use Postponed Import VAT Accounting (PIVA). We reconcile your monthly PIVA statement, make sure the C79 doesn’t double-count anything, and file the reverse-charge entries correctly on the return.
Yes — we work with several second-hand and refurbished-goods wholesalers using the Margin Scheme and Global Accounting. Full stock-book maintenance, sales invoice compliance and quarterly VAT return preparation included.
Two weeks in most cases. We handle the professional clearance letter with your outgoing accountant, request your last accounts and tax returns, get authorised as your agent with HMRC and set up your software access. Zero downtime.
Yes. R&R is regulated by the Association of Chartered Certified Accountants (ACCA). All work is signed off by an ACCA-qualified accountant, not a bookkeeper.
Our head office is in Blackburn, and we work with wholesale & retail businesses in Preston, Burnley, Accrington, Chorley, Leyland, Bolton, Wigan, Bury and Manchester. Being cloud-based means location barely matters — most of our wholesale & retail clients never need to set foot in the office — but face-to-face meetings are available at our Blackburn office when you want them.
Related specialities: Transport & logistics businesses · Owner managed businesses · VAT returns & MTD · Cloud bookkeeping · Monthly management accounts
Book a free consultation. We’ll review your last VAT return, your platform reconciliation and your management accounts, and give you three concrete things to change — whether or not you switch to us. Call 01254 839543 or book online.
Expert Chartered Certified Accountants helping North West businesses protect and grow their income.
Friendly support from a local team that understands your business. Book your free consultation today and take the first step towards financial clarity and peace of mind.
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74 St James’s Road, Blackburn, BB1 8ET
We work with clients in Blackburn and across the North West, so you can get support wherever you are.
