f.a.q.

Got a question?

We have summarised some common questions that our clients & partners ask. If your question is not listed below, please ask!

Is it difficult to switch accountants?

No, switching accountant is a seamless process, which yourself as the client will not need to be involved in. We will speak to your previous advisors, and they will pass all of the required information over to us. Depending on the other accountant, the whole process can be wrapped up in one day.

Are there any hidden charges?

We never charge any extra fees, other than what we have quoted for. If there is going to be an extra charge, this will be have been quoted to you and you will be aware. We will never charge our time for you asking us questions, so do not worry!

When do I need to register for tax?

As a sole trader, you need to register for self-assessment once your turnover hits £1,000 in a tax year. If this is the case, you need to register by the 5th October in your second tax year.

If you are a Ltd company, you will already be registered for tax. You will receive an activation code for corporation tax when you set up the company.

How much do I need to save for tax?

This question has an “It depends” answer, because it really does. 

There is no hard & fast rule for this, however if you put away 20% of your turnover as a Ltd company you likely will be more than covered.

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