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Frequently Asked Questions
Answers to the 40 questions our clients ask most
Prices, deadlines, tax rates, switching accountants and how we work. Search below or browse by topic. Can't find your answer? Ask us and we'll reply within one working day.
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Getting started and switching
How do I become a client?
Get your fixed fee using the form on any page, by phone or with our package builder. We complete quick online identity checks, then send an electronic engagement letter for you to accept.
Can I switch accountants at any time?
Yes. Switching is free and can happen at any time of year. We contact your old accountant and take over with HMRC for you. How switching works
Do you work with clients across the UK?
Yes. We're an online accountant working with clients across England, Scotland, Wales and Northern Ireland by phone, email and video.
Do I need to visit your office?
No. Everything is done online: secure document upload, e-signatures and video calls, including evenings and Saturdays.
Why do you need identity documents?
Anti-money laundering law requires accountants to verify the identity of every client before acting for them.
Prices and payment
How much does an accountant cost?
Our monthly packages start from £30 a month for sole traders and £75 for limited companies, plus VAT. See all prices
Are your fees really fixed?
Yes. Your fee is agreed in writing before we start and fixed for 12 months. Questions, reminders and HMRC letters are included.
How do I pay?
Monthly fees are paid by Direct Debit, in advance. One-off work is paid when you order it, after we confirm the price in writing.
Is there a minimum contract?
No. There's no long-term contract. You can leave with 30 days' notice.
Do your prices include VAT?
Prices are shown excluding VAT. You can switch to see prices including VAT on our pricing pages.
Are Companies House and HMRC fees included?
Official fees, such as the £50 confirmation statement fee, are passed on at cost with no mark-up.
Self Assessment and personal tax
When is the Self Assessment deadline?
The online deadline is 31 January after the end of the tax year, which is also when any tax is due. Paper returns are due by 31 October. Self Assessment tax returns
Do I need to file a tax return?
Usually if you're self-employed with income over £1,000, a landlord, a partner, have untaxed income or capital gains, or HMRC has asked you to.
How much is a Self Assessment tax return?
From £150 plus VAT, or included in our monthly packages.
What is the Personal Allowance?
The Personal Allowance is £12,570. It's reduced for income over £100,000. All tax rates
What are payments on account?
Advance payments towards next year's tax, due on 31 January and 31 July, if your last bill was over £1,000.
Limited companies and Corporation Tax
What is the Corporation Tax rate?
19% on profits up to £50,000 and 25% over £250,000, with marginal relief in between. Corporation Tax returns
When are company accounts due?
Within 9 months of your year end at Companies House. Corporation Tax is due 9 months and 1 day after the year end.
Should I be a sole trader or a limited company?
It depends on your profits and plans. We compare your tax both ways for free. Register a limited company
How should I pay myself as a director?
Usually a small salary plus dividends, but the best mix depends on your income. We plan it for you every year.
Is company formation free?
Yes, our formation service is free with any limited company package. The £100 Companies House fee is passed on at cost.
VAT
When do I need to register for VAT?
When your taxable turnover goes over £90,000 in any rolling 12 months. VAT returns
When are VAT returns due?
One month and seven days after the end of each VAT period, for both the return and the payment.
Do I have to use Making Tax Digital for VAT?
Yes. All VAT-registered businesses must keep digital records and file through compatible software.
Which VAT scheme is best?
It depends on your costs and customers. We compare standard, cash and Flat Rate accounting for you.
Payroll and pensions
How much does payroll cost?
£5 per employee a month plus VAT, including workplace pensions. Payroll services
When do I pay PAYE to HMRC?
By the 22nd of the following tax month if you pay electronically.
Do I need a workplace pension?
Yes, if you employ staff aged 22 to State Pension age earning over £10,000. Workplace pensions
What is the employer National Insurance rate?
15% on earnings over £5,000 a year, reduced by the Employment Allowance if eligible.
Landlords and property
Do landlords need to file a tax return?
Usually, yes, if rental income is over the £1,000 property allowance. Accountant for landlords
Can I claim mortgage interest?
You receive a tax credit at 20% of your mortgage interest instead of deducting it from rental income.
When do I report Capital Gains Tax on a property sale?
Within 60 days of completion for UK residential property. Capital Gains Tax
Does Making Tax Digital apply to landlords?
Yes, for landlords and sole traders with qualifying income over £50,000. Making Tax Digital
Construction and CIS
When are CIS returns due?
By the 19th of each month, covering the tax month that ended on the 5th. CIS returns
What are the CIS deduction rates?
20% for registered subcontractors and 30% for unregistered subcontractors.
Can subcontractors get CIS refunds?
Yes. Sole traders claim through their tax return, and limited companies offset deductions against PAYE.
Working with us online
Which accounting software do you use?
We work with Xero, QuickBooks, FreeAgent and Sage. Set-up is free with any monthly package. Accounting software set-up
How do I send you my documents?
Upload them securely online, snap receipts on your phone or forward them by email.
How quickly will you reply?
Within one working day. Call us for anything urgent.
Can I speak to someone?
Yes. Call 020 3369 0738, request a call back or book an appointment.
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Our accountants reply within one working day, or we can call you back at a time that suits you.