Q: Do I need to file a tax return?
A: There are various reasons why you might need to file a tax return. Generally speaking, if you have any income that HMRC won’t know about without you filing a return, such as business income or rental income, or if you have multiple sources of income, you will need to file a return. Also, if you make money selling assets for a gain, you will also be required to report this to HMRC. If you’re in any doubt, speak to us and we can let you know where you stand.
Occasionally HMRC ask people to complete unnecessary tax returns. If you have been asked to complete a tax return but you don’t think you should have to, get in touch and we can help get the demand overturned
Q: Should my new business be a sole trade, limited company or partnership?
A: This is a difficult question to answer without more information. There are a lot of factors to consider in determining the best structure for a business, including but not limited to what the business will do, how much money you expect it to make, who will be involved and what other income those people will have. The chosen structure can affect legal liability, tax liability and even degree of success, so this is decision to consider carefully. If you’re thinking of starting a new business, get in touch to discuss what would be best for your specific circumstances.
Q: How easy is it to change accountants and why should I change?
A: A good, stable relationship with your accountant is incredibly beneficial to your business, so we would only recommend changing accountants if your current accountant is not giving you everything you or your business needs.
Changing accountants is very straightforward; once you’ve made your decision and informed your current accountant, we can deal with them directly to get all the information we need regarding your accounts and tax affairs.
Q: You seem to offer a lot. Are your fees expensive?
A: Not at all; our fees are very fair for the work we do. You’re unlikely to need every service covered on our website. Once we have a better understanding of your business or personal needs, we can tailor our services to suit and provide a quote.
We’re not always the cheapest option, but our fees are only part of the equation; if we can help you grow your business, reduce your outgoings, or save you tax, you’re likely to end up better off in the long run. We are confident that our fees represent excellent value for the service we provide.
Q: I’ve just had my accounts done and don’t need an accountant until next year, so is there any need to contact you now?
A: Now is probably the best time to contact us, for a number of reasons.
Firstly, although your accounts have only just been completed, you might actually be close to the end of your next accounting year. Often any advice we have to help you save tax needs to be acted on before the end of your financial year, so the sooner you speak to us the better.
Secondly, if you’re considering changing to a new accountant having just finished your accounts, it’s likely the motivation to change is a recent poor experience. If you wait a year to do anything about it, the memory of that poor experience will have faded, and you’re likely to end up deciding it’s easier to stick with what you know. This will likely lead to the poor experience being repeated.
Q: Will you come to visit us for an initial consultation?
A: We’re happy to meet with you in person, at your premises or ours, or hold an initial consultation over the phone or video call. We don’t charge for an initial consultation as we’re always happy to invest our time in building a new relationship.
Q: When and how soon can you come to see us?
A: When’s good for you? Get in touch and we can arrange a time to suit you.
Q: Is your quote guaranteed for more than one year?
A: We’re not in the business of providing low quotes just to get your business for the first year and then raising our fees. We want you as a long-term client who trusts us to do what we say we will do. We quote what we anticipate is a fair fee for the value provided and would only expect normal inflationary increases if the work stays the same. Occasionally there may be reasons why the amount of work required exceeds what was expected, but we would sit down and discuss this with you before undertaking additional work.
Request a call back
Arrange a time for us to call you and we will be happy talk to you about how we can help you with your Accounts and Tax.
Please contact us if you need further advice, have any questions about our services, would like a free consultation or a fixed fee quote.