FAQ'S

What are your prices?

We're aware that each of our clients have different requirements, some may only need a self-assessment return filing and complete all their book-keeping themselves, others may need someone to help them to create invoices each week/month. We tailor our packages to work to our clients requirements, if you are interested in our services then get in touch today and we can discuss what options are available to you.

Do I need to be VAT registered?

Being VAT registered is optional providing you don't have a turnover of over £85,000. However, we would recommend being VAT registered as it is beneficial for you. If you are VAT registered then you can charge 20% VAT on top of your normal hourly/daily rate to your end client. You would pay this 20% to HMRC but deduct the VAT on any purchases you have made during the period, e.g. food, accommdation, mobile phone costs etc. If you are worrying about how to calculate your VAT return, don't. That's one of the services we provide. We'll submit your returns for you as well as letting you know how much to pay (or if you are getting a refund!) and when you need to pay it by. 

Do you provide pension advice?

We offer general advice in regards to your pension. But if you want specific information as to how much would be best for you to deposit into your pension etc, then you will need to speak to an Independent Financial Advisor (IFA).

What expenses can I claim?

This varies depending on if you are a sole trader or limited company. If you aren't sure what expenses you are allowed to claim then get in touch with us today and we will explain the different expenses you can claim depending on your circumstances. 

What is PAYE registration?

This is registering with HMRC to make PAYE submissions, this is for if you have any employees to pay (including yourself as an employee of your limited company). If you are a sole trader then we wouldn't register you for PAYE unless you intend to have employees (not subcontractors).

What software do you use?

We use FreeAgent, however we will adapt to your needs. If you already use Sage or Quickbooks for example, and are happy with the systems, then we are happy to adjust to this for you. 

How quickly does it take to get a limited company set up?

This usually takes about 24 hours from submitting the application to Companies House to approval. You would still need to set up a business bank account but you would the company incorporated within 24 hours (not including weekends/bank holidays).

Why do I need a business bank account?

It's important to keep your business income/expenses separate from your personal income/expenses in order to ensure that you are aware of how much you will owe in future taxes. If you continue to use your personal account, things can easily be missed/duplicated and figures could be wrong, meaning that when submissions are made to HMRC it could be incorrect information.