FAQ
Frequently asked questions
Advice from a Chartered Certified Accountant can be invaluable. Legally, anyone can call themselves an ‘accountant’ without the necessary training and experience. However, before becoming a ‘Chartered Certified Accountant and using the designatory letters ACCA or FCCA, all accountants must:
Undertake a period of at least three years training with an organisation that is authorised by the Association of Chartered and Certified Accountant.
Pass tough examinations embracing financial management, auditing, business strategy, taxation and IT.
This training and experience also ensures that Chartered Certified Accountants develop communication skills, business awareness and professional judgement and members are expected to maintain high standards of ethical and professional conduct.
All members must comply with the Association’s scheme of Continuing Professional Development, thus ensuring that their knowledge and skills are kept up to date.
The best way to check is to see what other accountants can offer you. You are very welcome to come in, have a chat and discuss our services and prices. We are so confident that we offer great service and value that we will provide £250 worth of free advice at our first initial consultation. There is no obligation to continue using us, so you have nothing to lose and quite possibly a tax saving to gain.
Our payment terms are very flexible and we can also offer a “standing order payment” facility.
In many cases the answer is. Our expertise will guide you through the best tax saving route.
The simple answer is that it’s quite straightforward. We will take care of virtually everything, including all matters relating to Inland Revenue, Companies House etc. We can let your existing accountant know you are changing, they are then required to pass over all books and records. This means we can see exactly what has been done for your business in the past and what we need to plan for in the future. We then require your signature to confirm we will be acting for you.
We understand that you need a clear indication of costs. Before we start working for you we will explain clearly the charges for our service; we will at start quote a fixed fee and there will be no hidden costs. We will work on a fixed cost basis.
No. For us to work well together we need to have a good working relationship where we understand your business and you know you can rely on us to provide advice and support. We encourage our clients to stay in contact with us.
We are frequently asked this question, and on many occasions the answer is ‘No’ After discussing about and examining your trading vehicle we will then advise you if you are operating in a tax efficient manner.
Company accounts are due to be filed at Companies House nine months after the end of your financial year. Any corporation tax due is payable nine months and a day after the end of your financial year.
If you are self-employed, your self-assessment tax return must be filed before 31st January following the end of a tax year to avoid penalties and fines. For example, a 2010 tax return must be submitted by 31st January 2011. We recommend completing your tax return well in advance of this date so we have time to check and advise you of any opportunities to reduce your bill.
Most limited companies pay their Corporation Tax nine months after the company year end. ‘Large’ companies are now required to make ‘quarterly’ payments on account. A company is ‘large’ if it pays corporation tax at the full rate.
Records should be kept for a minimum of six years for Inland Revenue purposes. A VAT Inspector will usually only go back over three years when undertaking a routine inspection.
Records should be kept for a minimum of six years for Inland Revenue purposes. A VAT Inspector will usually only go back over three years when undertaking a routine inspection.
The sooner we meet the better – let me get the accountancy side of your business off to the best possible start.
Not necessarily, I find that with modern communication technology, distance is not a problem. Be assured that you will feel that your accountant is “just round the corner”.