Frequently Asked Questions
Switching accountants is easy and straight-forward. It’s usually a case of writing to your current accountant, telling them the name of your new accountants and advising them that the new firm will be contacting them shortly to collect your records. When you decide to switch to us, we will fully manage the transition and ensure that the handover is seamless. We will take care of everything including contacting your current accountant and explaining you are moving away, arranging for the transfer of records and obtaining copies of your accounts and tax computations.
There are five core compliance requirements you need to be aware of: Accounting - covers your annual filings Bookkeeping - record keeping and classifying transactions into their correct accounting categories VAT - you need to know when to register and file returns once registered Payroll and pensions - you have to report to HMRC if you pay someone an employee a salary Self Assessment - you personally may have to file an annual return, most commonly if you receive income that is not taxed at source, e.g. rental income or dividends We offer each of these services so that all of your compliance requirements can be met in one place.
An accountant's job is to help you comply with business law and reporting obligations, save you time in doing so, and in general to provide advice and guidance for managing your business, with a focus on the financials. A good accountant will get your bookkeeping and reporting done right and submitted on time, every time. They should have processes in place to ensure that deadlines are not missed, make it easy for you to provide the required information, and keep you informed about why and how your obligation are being met. All of this should be done in a manner that protects your time and saves you stress, so that you can focus your time and energy on your business.
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