Business Details
17 Years
experience
Your Trusted Cambridge Accountants for Business Success
Established in 2009, Watermill Accounting has built a reputation as a trusted partner for businesses seeking comprehensive financial solutions. Our expertise spans accounting, payroll management, R&D tax credit claims, and strategic financial advisory services. With a focus on innovation, we leverage cloud-based technologies to streamline processes and deliver real-time financial insights. Our team of chartered accountants and certified professionals brings decades of combined experience in both multinational corporations and small businesses.We specialise in demystifying complex tax regulations, particularly in R&D tax credits, where our expertise has secured substantial refunds for clients. Our client-centric approach combines technical excellence with proactive business mentoring, helping companies navigate compliance requirements while optimising growth opportunities. Backed by testimonials from satisfied clients across diverse industries, we remain committed to delivering transparent, efficient, and tailored financial services that empower business success.
Services
R&D Tax Credits
Payroll Services
Company Formation
VAT Registration
Bookkeeping
Details
- Year established: 2009
Highlights and features
- We have over 12 years of experience in accounting and R&D tax credit claims
- Our team includes chartered accountants and certified finance professionals
- We implement cloud-based accounting systems for real-time financial management
- Our clients have recovered over 50,000 in R&D tax credits
- We provide business mentoring alongside financial services
Associations and certifications
- ICAEW
- ACA
- CIMA
What people say
Invaluable partner
Recovered nearly 50,000
Instrumental in setup
Quick and efficient
Professional and timely
Services
R&D Tax Credits
Specialised assistance with claiming R&D tax credits for innovative businesses. We identify qualifying activities, prepare compliant claims, and maximise refunds while ensuring adherence to HMRC regulations. Our expertise helps businesses recover up to 27% of eligible R&D expenditures.
Payroll Services
Comprehensive payroll processing including RTI submissions, payslip generation, and pension auto-enrolment. We handle monthly payroll cycles, tax deductions, and compliance reporting while providing secure online access to payroll documentation for businesses of all sizes.
Company Formation
Complete company registration services including incorporation, bank account setup, and statutory compliance. We assist with creating limited companies, preparing necessary documentation, and establishing proper accounting systems for new businesses in Cambridge and surrounding areas.
VAT Registration
VAT registration and compliance services for businesses exceeding threshold limits. We manage quarterly VAT returns, scheme selection advice, and HMRC submissions while providing guidance on VAT implications for business operations.
Bookkeeping
Regular bookkeeping services maintaining accurate financial records using cloud-based software. Our team updates accounts daily or monthly, reconciles transactions, and generates management reports to support informed business decision-making.
People
Deepti Agarwal
Managing Director
Founder of Watermill Accounting with ACA qualification. Specialises in R&D tax credits and cloud accounting. Previously worked at KPMG advising multinational clients. Teaches at University of Cambridge and mentors startups.
Andrea Gills
Virtual CFO and Payroll
Experienced in bookkeeping and payroll with 12 years' experience. Provides financial planning support and global payroll solutions. Combines professional expertise with international perspective through extensive travel experience.
James Oliver
Payroll Advisor
Dedicated payroll specialist with over a decade of experience. Applies mindful approach to payroll management. Respected for attention to detail and commitment to compliance in payroll processing.
Anna Burrows
Accounts Manager
CIMA-qualified finance professional with 20+ years' experience. Provides strategic financial guidance across industries. Recognised for analytical skills and commitment to continuous professional development.
Janak Pokherel
Audit Consultant
ACA-qualified audit specialist with extensive experience in regulatory compliance. Provides audit services for Innovate UK projects. Known for meticulous attention to detail and technical expertise in audit procedures.
Questions
What accounting services do you offer?
We provide full accounting services including year-end accounts, bookkeeping, tax returns, payroll, VAT registration, and R&D tax credit claims for businesses in Cambridge and beyond.
How can R&D tax credits benefit my business?
R&D tax credits can provide cash rebates of up to 27% for qualifying innovation activities. We help identify eligible projects and prepare compliant claims to maximise your refund.
Can you assist with company formation?
Yes, we offer complete company formation services including incorporation, bank account setup, and initial compliance requirements for new limited companies in the UK.
What payroll services do you provide?
We handle payroll setup, monthly processing, pension auto-enrolment, and HMRC submissions. Our services include secure online payslip access and RTI compliance reporting.
What are your office hours?
Our Cambridge office operates Monday-Friday 9am-5pm. We offer flexible communication options including secure online portals and scheduled appointments outside these hours.
Reviews (5)
Xono Ltd
Dec 23, 2021
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Absolutely fantastic service. Deepti and the team are fantastic at what they do and have saved me a bunch of money with R&D tax credits.
Alex Murray
Jul 23, 2021
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Deepti and her team provide a very good service to startups and small businesses in Cambridge at very reasonable prices. Their best features are the personal service and responsiveness.
Rushabh Parekh
Oct 20, 2020
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Deepti and watermill accounting have helped me navigate through opening up my first business, understanding what the R&D tax credit is and fully understand what the compliance and filing requirements were. They also helped me immensely with making the furlough scheme as pain-free as possible and assured me that I wouldnt have to layoff anybody. Extremely professional and caring team.
10/10.
10/10.
Ruh Foods
Oct 19, 2020
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We are importers and resellers of foods and other general commodities. Watermill and their team were instrumental in helping us with the imports, a virtual office space and navigated us though Quickbooks. I am a bit slow with the computers but they were patient and professional throughout. Nice office too.
E. Stevens
Aug 25, 2019
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It is always easy to book an appointment with Watermill Accounting, have a meeting and ask questions. Deepti will explain concepts by writing them down in front of you, so that you can make notes and understand the various accounting concepts. As an accounting service they offer excellent value for money and will give recommendations.
