Common Queries?
General Questions
free to contact us if you don't get your question's answer in below.
Do I really need an accountant, or can I do it myself?
While you can technically manage your own books, an accountant ensures you are compliant with HMRC and identifies tax-saving opportunities you might miss. We save you time so you can focus on running your business, often saving you more in tax efficiencies than our actual fee.
What is "Making Tax Digital" (MTD), and does it affect me?
MTD is a government initiative requiring businesses to keep digital records and use software to submit tax returns. Currently, it applies to all VAT-registered businesses. It is also being phased in for self-employed individuals and landlords with income over £50,000 (starting April 2026). We can help you transition to MTD-compliant software.
How much do your services cost?
We believe in transparency. Rather than hourly billing, we typically offer fixed-fee monthly packages based on the size of your business and the services you require (e.g., payroll, VAT, year-end accounts). This helps you manage your cash flow with no “surprise” invoices.
Which accounting software do you recommend?
We are partners with leading platforms like Xero, QuickBooks, and FreeAgent. These tools enable real-time collaboration and give you a clear, easy-to-use dashboard showing your financial health on both mobile and desktop.
When is the deadline for my Self Assessment tax return?
The deadline for filing your online return and paying any tax due is 31st January following the end of the tax year. For example, for the 2024/25 tax year (ending 5 April 2025), the deadline is 31 January 2026.
Can you help me set up a Limited Company?
Absolutely. We can handle the Companies House incorporation, register you for Corporation Tax, and advise whether a Limited Company or a Sole Trader structure is more tax-efficient for your specific situation.
What business expenses can I actually claim?
The general HMRC rule is that expenses must be “wholly and exclusively” for the purpose of trade. This includes office costs, travel, marketing, and even a portion of your home bills if you work from home. We provide a comprehensive checklist to ensure you’re claiming everything you’re entitled to.
Do I need to register for VAT?
You must register for VAT if your taxable turnover exceeds £90,000 (the current 2024/25 threshold) over a 12-month period. You can also register voluntarily if it benefits your business—for example, if you sell mainly to other VAT-registered businesses.
How do I switch from my current accountant to you?
Switching is much easier than people think. Once you notify them, we send a “professional clearance” letter to your old accountant to request your records. They are ethically bound to provide this information, and we handle the entire transition for you.
How often will we communicate?
We aren’t “once-a-year” accountants. We prefer a proactive relationship, checking in quarterly or monthly to review your figures. However, we are always available via email or phone if an urgent question crops up.
Can you help with HMRC investigations?
Yes. If you are selected for a tax enquiry, we can represent you and handle all correspondence with HMRC. We also offer Tax Investigation Service insurance to cover our professional fees in the event of an audit.
What are the differences between a sole trader and a LTD
The main difference is that a Sole Trader is legally inseparable from their business, making them personally liable for all debts. A Limited Company is a separate legal entity, providing “limited liability” that protects personal assets. Sole traders enjoy simpler setup and more privacy, while companies often appear more professional and offer better tax-saving options through dividends. However, companies face stricter filing requirements and less privacy via Companies House.
